Bitcoins biggest threat is here! Custodian and Paper Bitcoin….These two concepts can artificially inflate the Bitcoin supply over the 21 million hard-cap!! Exchanges, custodians & futures markets will operate on fractional reserves, where custodian or paper bitcoin become just as good as the real thing. How do we stop this? Never accept a custodian & force futures markets and exchanges to show proof of there Bitcoin reserves. This has happened before, to another commodity which threatened the dollar….GOLD….but Bitcoin is soooooo much different!
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⏰ Time Stamps ⏰
00:08 Introduction-Chico Is Soooo Pure
00:45 Inflating Bitcoin’s Supply over The 21 Million Coin Limit?
01:17 Centralized Entities Can Inflate The Supply-The Gold Example
02:20 Fractional Gold Reserves & Gold Futures
03:06 The Gold ETF-Inflating The Supply Even Further
04:25 Gold ETF-Theft From 401ks
05:19 CME Bitcoin Futures=Paper Bitcoin. How Does This Affect The Supply?
06:31 Bakkt Custodian Model–Where Are The BTC? No Public Bitcoin Address
07:15 The Custodian Bakkt Bitcoin-Bakkt Acquires Custodian
07:42 Crypto Exchanges & Proof of Reserves
08:25 The Proof of Keys Event-January 3rd Every Year
09:09 Proof of Reserves at the Bitcoin Protocol Level
09:41 The Hard Part…….Right Mark Cuban?
10:16 Outro
–Articles Mentioned In This Video–
The fractional aspects of Gold ETFs
Gold ETF Mechanics-What Lies Beneath
https://www.zerohedge.com/news/2016-12-01/gold-etf-mechanics
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