4 ms·
be wary of bakkt, there was talk a few years ago about them issuing fake bitcoin and trying to valuate it like real bitcoin. caitlin long mentions it in an inte
by berenza 6y ago
be wary of bakkt, there was talk a few years ago about them issuing fake bitcoin and trying to valuate it like real bitcoin. caitlin long mentions it in an interview here. https://youtu.be/kxpVO6RE09E https://youtu.be/kxpVO6RE09E
proper custodial services exist with bank charters like avanti, kraken and anchorage if you want a bank that guarantees real bitcoin and not some paper derivative made out of nothing.
- deleted 6y ago[deleted]
- yowlingcat 6y agoRehypothecation is pretty far away from "paper derivative made of nothing" -- it may not be "contracts as code" level of assurance, but it is "the long arm of securities and commodities law" level of assurance, which many would argue is the more critical level you would want for your assets. My stance on this is neutral and I think both sides have a point, but I think it's a little hyperbolic to call that a "paper derivative made out of nothing."