Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I have to limit carrots but I do daily walks and get a lot of sun.
It be called winter time...
not be getting lots of sun in recent times.
#justsaying.
@thepowerfullHRV
$BTC exchanges take your $, but dont actually have your BTC on their books
Because if this, the BTC price does not reflect actual demand, resulting in a lower BTC price📉
Its your duty as a #Bitcoin er to withdraw coins into cold storage so that price reflects demand📈
https://twitter.com/thepowerfulhrv/status/1611506458537132033
$BTC exchanges take your $, but dont actually have your BTC on their books
Because if this, the BTC price does not reflect actual demand, resulting in a lower BTC price📉
Its your duty as a #Bitcoin er to withdraw coins into cold storage so that price reflects demand📈
https://twitter.com/thepowerfulhrv/status/1611506458537132033
Basically you own nothing.
Maybe it would be better to assign a probability in terms of how much BTC that you hold that depends upon how you hold it?
Sometimes you might not calculate your probability correctly, so for example, there are a lot of folks who realize that the BTC that they thought that they 100% held on FTX may well have ONLY had been 70%-ish.. so long as they are able to make a withdraw in time, and now they are realizing that they may well have less than 5% odds of recovering 10% of the value that they thought that they had within the next 5-10 years. hahahaha
The Gemini exchange folks likely realize that they had higher probability of holding BTC than the Gemini rewards folks, yet there were some of them who had assigned the same value to those coins... and now they are realizing that they might not be getting all of those coins back, even though their odds might be higher than the FTX folks, perhaps? I don't claim to be an expert in assigning probabilities, but it seems to me that if I hold some BTC on Gemini, Binance, Bitstamp, Kraken, Coinbase, CashApp, Robinhood, Bluewallet, Blockchain.IO, or some other exchange (or use of a third party service), the quantity of BTC that I hold may vary, and is higher than 0% even if I don't currently have 100% assurance in regards to the keys to such coins.