comparing the user agreements and policies of for instance
binance vs greyscale

customer "bans"
binance when banning a customer still allows a customer to log in, but features disabled like trading. the customer is given time to withdraw value close account and leave

greyscale says they can decline all access and deny use of all of their site for customers that are banned without notice or reason

custody of funds
binance shows bitcoin addresses of bitcoin funds that total the same total of customers balance

greyscale, tells customer it does not hold custody of funds, its locked in coinbase "vaults" and coinbase has a security policy to not disclose. coinbase is not regulated by SEC or CFTC

im more concerned of the contagion of the DCG portfolio of exchanges which includes coinbase and greyscale, oh and until recently(after collapse) FTX

he was suppose to testify remotely tomorrow.. i guess they want to see him physically

you are not creating crypto currency on this forum

what you are not realising is money is created within its own monetary systems
bitcoin is created within the bitcoin network via the bitcoin rules and bitcoin never comes out of the network


EG the EU banks create EU bank notes in the EU system.

people do not just create bitcoin/crypto currency by just sending a tweet or message on a discussion forum
it involved code and rules to actually have policy of control and rules of transfer within a monetary system.

if you dont know how monetary systems work. dont waste months thinking you can create money randomly .. instead actually learn where and what the money systems are and the mechanisms involved to create money in those systems


fiat is not just dollar.. there are hundreds of fiats. multiple different "dollars"
canadian, australian, sinagore, liberia

but they have their own systems

each crypto currency has its own network and system and policies too.. you do not create a crypto currency by just describing it on a forum

different monetary systems have different communities with different reasons or needs to access those systems. they offer different features, different benefits. and different value creation mechanisms

bitcoin offers a deflationary system to hedge against all the fiat inflationary systems

bitcoin has features for international reach that are better and cheaper than fiat remittance abilities and costs and time

the cost of creating new coins within bitcoins system offers long term benefits for that involvement. and the costs then support the underlying value.

for instance PoS coins have a lower cost of creation. meaning when the market speculats to their ATH there is alot of no-value bubble price difference compared to its underlying value amount.
ethereum right now has about a max value line of $50(compared to its $900 value line as pow) so it went to a 1.6x market speculation to a 24x market speculation when it swapped to PoS

bitcoins value line is abut $15k and its market was at a 5x speculation hype bubble when the ATH temporary event last year occured. and is now back to real good value of 1.1x

there is alot you need to learn about monetary systems. their money creation policies. their value discovery and underlying value support amounts. and the speculative markets above value

i do not even look at the market to get my "value"

the value i see is not found on a market wiggle
value is found below the market.

one concept is that the cheapest place to acquire bitcoin is not on the market
its mining.
and the lowest mining cost on the planet for acquiring bitcoin. is not found on the market. but is ALWAYS an amount that is below the markets speculation

no one can acquire bitcoin for less. so this amount becomes the sustained support and wall. that no one wants to sell below. which is then the value amount

ATH are not value. they are the premium. the ATH is discovered when all buys give up buying because in their view its too expensive to buy on the market compared to other methods they can acquire bitcoin

in 2021 the mining window from cheapeat industrial efficient miners vs the small hobby miners with huge expense was a $10k-$75k window

the market price wiggles of sentiment and personal speculation wiggled inbetween those numbers. it topped out at $70k becasue everyone realised they were paying to high a premium and knew they could get bitcoin cheaper by mining themselves below $70k a coin.




..
if you think that sustainable value is found at the highs of the market.. you are really missing alot about value

if there were 2 phones. one for $1k and another for $1.5k
a good valued phone is the $1k one.
but you seem to think that the $1.5k phone is more valuable
what if i told you both are the same model phone. just one person is selling the higher price one at a premium

unlike kardashians.. o'leary is seen more as a fiduciary. meaning he has a legal responsibility to do PROPER accountable due diligence before giving advice..

yep he is on a higher level. meaning he is more liable

him saying his due diligence is just the hearsay of others that trusted SBF doesnt cut it.

kardashians dont have access to accountants and auditors. but o'leary does.

so if kardashians got caught for advertising a scam. o'leary wont be/shouldnt be found innocent.
that said. even a guilty person wont openly want to plead guilty unless it presents them with an advantage, such as easing other peoples pain or reducing his own suffering/consequences of his actions

im sure he with trade his possible future legal penalty limits by disclosing information behind court room doors. but he wont give it away for free, where it does not aid his own personal effects of possible penalty later

since when has trade been free.
everything has its price..

if it didnt then it wouldnt be trade. it will be donation/gifting

media will say that we are on brinks of war and that we are segregating countries and isolating others. and how americans should hate china. etc etc

yet while corporations are sponsoring media to tell small business "blame china, stay away from china".. big corporations are still doing business with china. they just dont want the local mom&pop small businesses becoming competition for big corporations

ofcourse TSMC want to say they are "coming to america" to feed the locals with chips. but those chips at higher prices will filter to the small business. to cost them out of being competitive, while the big corps will source their lower nm chips at lower prices from the cheaper market of asia, as always

yep small silicon valley startups get to buy 4-6nm chips at american inflated market rate
while big corps are using 3-4nm chips at lower asia rates.

all while sponsoring media to tell small startups "dont source your chips from asia"

yep TSMC themselves have been telling certain groups to not buy from their own company in taiwan... while their taiwan factories are still contracted to make chips for big corp america..funny right

do not ever try to confuse PRICE with VALUE
that is your mistake

(deflationary asset) value (real value) is not found at the premium and value is not found in the random speculation of the market

value sits below the market and then from that people then trade a premium and speculate a price to do business on depending on demand

barter(market) comes after an agreement of the masses on value

barter is more personal and ever changing in the short term. dont confuse to the terms

bitcoins value sits below the market. always has and is a more stable growth than you can even dare imagine. but it does grow and continues to grow..
the random sentiment of PRICE then applies on top and is more random and volatile and personal which changes without cause or reason in many cases

but there is good fundamental reasons why value is more then 2020's $50k and more reason why its more then 2016's $300

---

FIAT game is where you get it all wrong

in fiat a investor can hand over $10k to a worthless busness for 1% of worthless shares and then create their market cap as appreaing as a $1m value

because in inflation "value" is at the top not the bottom..

bitcoin is deflationary. so value is at the bottom not the top..
and thats where you got it all backwards

fiat valuations have it all wrong.

normal people know when some is priced low its valuable. yet fiat markets treat high prices as value..

you really dont get it do you

value is nt found at the ATH

the ATH is a speculative PREMIUM not value

value is found at the bottom

the ATH is not where the market is suppose to sustain/sit/.belong.
ATH are the temporary hype bubble.

the question is what was the cause of the late 2021 ATH...

the CORRECTION after the hype speculative ATH is obvious..
its to come back to good value amount

what do you mean not doing well

forget the premium market of speculation.. that is not where value or store of value sits.

look at the real value(its found below the market)

2010: $0.03
2012: $3.00
2016: $300
2018: $3000
2020: $5000
2022: $15000

sometimes i see these allegation topics as just childish stories. yes some lessons can be learned from them. but sometimes they are stories about "could be" and not actual events or future plans

which is where i tailor my analogies into childish concepts for those readers

however
FTX has done a event where they were caught not having assets to meet demands.
people done a bank run.
withdrawals were locked and ftx filed for bankruptcy, and evidence of theft and fraud are seen..
.. yet some people are still unsure of how legit or illegit ftx is/was

..
where as binance has not done anything (if/yet) to harm customers. and people are pitchforking it.

yes get your coins out dont use exchanges as a custodian. but i see this latest saga against binance as just revenge social drama of trying to find blame for those that lost due to ftx

EG
imagine your dad was a serial killer but a victim witnessed his crimes and got him arrested. and you lost contact with your dad. instead of realising your dad is a serial killer and deserves everything he gets, you are victim blaming the witness

its that simple
people are trying to get the victim/witness credibility put into question

i dont use exchanges as custodians so i dont care much for the social dramas personally as they cant hurt my holdings.. best case is everyone else get theres out to so you lot dont have to care either

yes be risk aware, learn what risks there are. but dont put yourself at risk

(dont hold onto your gold stars till the weekend hoping for your chocolate bar. claim your chocolate bar as soon as you earned your chore board stars. know that your moms can steal your chocolate so dont give her time to get tempted.)

the PoR

is a data structure that shows binance customers balance is accounted for and combines to a total
also binance shows they have coin control of an alotment of coins that meet and exceed that total accounted total

..
the objections are that some beleive that it does not include the companies own private assets and liabilities.

but that is a separate account report with a separate report.

also objections about binance not revealing all its corporate entities.
again this is separate to the customer accounts/PoR stuff


the fear becomes that some hidden parent company could claim ownership of the coin control of all assets. whereby "binance" as a daughter/sister company could be sent into some legal system of administration where it locks customers from redemptions. and prevents payouts while then not honoring the use of the coin control assets to be used on those customer due to some hidden contract under the parent company that customers are not aware of


..
its a simply family 'chore board' where having 4 stars on a chore board = 1 chocolate bar reward at end of the week
where they can clearly say the kids have a total of 8 stars= 2 chocolate awards
and the big sister can show 2 chocolate bars in the fridge waiting for the end of the week.

however mommy can be malnourished(in debt) and may want to take the chocolate out the fridge to eat for herself to make her heathy. leaving the kids then under nourished. and thats the fear.

the fear that if kids complain they didnt get their chocolate and its found out the chocolate is not in the fridge. big sister(binance) as kid babysitter and the family fridge gets locked up with the kid in social services disputes(regulators)
but the parent is not disclosed/ put into a social services investigation.  and is instead sunning it up on a beach with a full tummy

if a hacker can get into your computer to steal your wallet.dat

they dont need to spend years brute forcing the password
they already got into your system.
they simply put in a key logger and wait for YOU to type in the password no matter how long or complicated it is

if someone can get your wallet file they can also watch your keyboard.
so making a lengthier password wont change that

,,
if the hacker does not or has not hacked your computer to steal a wallet. dat. and instead it involved a online service then yes have a complex password you log in with,

and use varying degree's of complexity dependant on how much value can leak if its compromised.

EG a spam email account you dont get anything important on . dont worry so much.
your life savings online bank account. be super complex with the password

dont use same password for all services

no one can have the perfect 100% result everytime
bad results and losses do happen

a failure, is someone that gives up at a loss

showing
101111101011110000100000000

or showing


on a forum. is not how value is made

because in both cases they are just displays and explanations of discussion.. not actually part of the value system

if i showed you a picture of a banana on this forum. does not mean you can eat it from the forum
..
if you cannot tell the difference of a discussion forum vs a payment system, then you need to take some time to do some research

learn the rules and functions of the payment system and work within those rules of that payment system to then create new value.

EG
going to a loan shark and asking for a loan. is not creating new money. its borrowing someone elses already created money.
if you want to create new money you have to go to a bank that has the facility to do so.

learn the difference. not all loans create new money

talking about dollars in any discussion platform does not create new dollars.

no you did not

firstly someone just saying the word or writing the word "bitcoin" "btc" or quoting the binary in a forum, did not create new bitcoin

bitcoin is on the bitcoin network. its secured that way it never leaves the network. and  its fundamental rules restrict how its created.

to create new coin within the many rules also involves mining which has a real world cost. meaning acquiring new coin comes at a real world cost of electric and hardware.. yep its called proof of work

if its not confirmed on the bitcoin blockchain.. its not bitcoin

if you want to cry about a low low value coin that is made too cheap but sold for too much.. look at the PoS coins, forks. side chains and subnetworks of things pretending to be bitcoin.. and aim your "valueless" arguments at those.. or coins where the inventor just creates a trillion coins in 10 seconds at no computational, electric significant cost (ICO-premine)


dollar or bitcoin is not created by saying words on a forum. as explained

if i want to create $1000 new dollars. i would go to a bank and ask for $1000 loan
. that is how i would create $1000 new dollar. by my agreement with a bank to create $1000 for me. and in exchange i will slowly pay them back $1000+interest

its easier to create $1000 than it is to create new bitcoin. and at the end cost of creation of bitcoin vs dollar.
bitcoin has a good functional deflation system that makes the recipient better off over time for receiving bitcoin, where as in dollar they are worse off from receiving dollar


with fiat. its paper not silver..  that paper USED TO represent backing to physical asset. such as a £5 (5 pound) bank note WAS centuries ago representative as a coupon that allowed the bearer(holder) to swap that coupon(promissory note) for five metric pounds(lb) of sterling silver

however the banks broke their own rules and changed the rules.
now bank notes are representative of other rules, where value is measured at things like minimum wage, tax rules wher someone has to pass around these fiat amounts to pay X min wage or y% tax which keeps them in circulations and valued to certain known amounts of other things.

similarly in the cryptocurrency industry. there are sidechains. where they too 'print' coins at no value. which are not real bitcoin. but representational 'promises' of pegging to a bitcoin. but note they are not bitcoin. nor is a bank note silver.

..
bank notes are not property of people. bank notes are patented products of banks and owned by banks and simply licenced/permitted to be held(bearer)(possessed) by people but not owned. this means the bank can take bank notes out of circulation or seize bank notes off people

bitcoin has no central owner. no one owns the bitcoin system, the public-private key mechanism proves ownership of who has control and custody of the coin allotted to an address.

there are other networks which have bad mechanisms that can remove coins from someones custody

"bitcoin that would be held by greyscale ETP trade on concededly "unregulated" spot-trading platforms"

lets translate that

"we cant regulated a ETF because the asset will be traded on something unregulated"

thats like saying.
we cannot put cooked food on a plate because the plate has "no cooked" food on it

..
well regulators.. here is the thing
because bitcoin stored in coinbase vaults, is working as a commodity*
coinbase is regulated by CFTC in this manner. so the underlying asset is regulated

thus because CFTC regulate coinbase thus bitcoin. the SEC can then allow greyscale to have by SEC future approval regulated shares**..
by which .. by then regulating the shares**.. SEC can then regulate the OTC trading platform to then allow them to trade those shares

so the SEC can regulate greyscale and thus greyscales chosen market it wishes to trade on

*commodity(raw product used to create other products(collateralised shares**))

**shares(in $ format which is treated as $ equity/debt (securities))

EDIT

turns out....
via coinbase site

ok greyscale.. time to move your coins out and store into a wallet and thus business that can be regulated


i was first thinking that coinbase was regulated and the ball was stuck in SEC court for falsely denying things
turns out greyscales funds are locked in a business thats not regulated..

dang greyscale.. !! get your act together

bitcoins do not move to different networks, you will not find bitcoin on other networks

other networks store other units of measure that supposedly represent bitcoin.. but are just pegged to a conversion/redemption/settlement method back to bitcoin via many different ways specific to however those silly networks operate
but those peg/conversions are only as good as the network code of the silly network that supposedly allow/protect the conversion rate

Bep-20 btc
wbtc
liquid lbtc
lightning ln-btc/msat

[list goes on]
are all not actual bitcoins, just pegged representations

some sidechains dont even directly peg and settle back to the bitcoin network via a convert-settlement mechanism independently or cooperatively on the sidechain network. they are needed to be deposited into a business/service who redeems one token to then allow withdrawal via a bitcoin transaction to a bitcoin blockchain address you request

just be sure your doing a withdrawal request of bitcoin to the bitcoin network


[/list]

1btc is not stored in a tx, block or blockchain data as '1btc' at raw data format
a bitcoin (1btc) is an allotment of 100,000,000 units of sats
(gold is a bunch of atoms too)

inside a transaction at raw data level converted to human readable numbers
everything in bitcoin network and transactions is measured in sat numbers then divided to its btc representations

so then looking at a tx of 1btc. in binary.. which is the true real world state it sits physically on a hard drive in:

101111101011110000100000000

so 1btc physically looks like  101111101011110000100000000

or if you were to use a microscope looking at a hard drive platter , at an angle of its horizon

 _   _ _ _ _ _    _   _ _ _ _            _                    
| |_|            |_| |_|         |_ _ _ _| |_ _ _ _ _ _ _ _

as for referencing it on the bitcoin blockchain. in human readable form

you can reference your txid you received 1btc from where its output to your address shows the 100,000,000 at raw tx data level

or even more human translated form on any blockchain explorer/wallet showing you your transaction receipt in btc allotment amount
..

by the way.
gold is just a bunch of atoms too
..

i suspect the topic creator is actually snowshow using yet another alt account. trying to play dumb to introduce himself as an idiot yet again to then try pushing his "bitcoin does not exist " troll game.

i dont believe in history supposedly repeats itself.

but 2022 has felt like 2014 re-run

everything from the mid point of a halving cycle
the previous year being a ATH
exchanges failing year..

if things were to repeat itself we will see stagflation for about 2 years

again

i am not talking about random electric prices
im talking about the MOST EFFICIENT (bottom*) of those random prices

yes im excluding the small scammers of electric thieves..
but real industrial costs(cheaper then residential) rate

yes i say $0.04 rate*
and yes hawaii is $0.40

but those higher prices are the speculative market ABOVE the BOTTOM

if you concentrate on the BOTTOM*. you then find the support for the BOTTOM*

lets see it from another way
milk
if you can find different dairy farmers who can milk a cow and send it out for
$0.18   $0.20 $0.22.... $0.50

you concentrate on the $0.18 and the 0.17 rate alone.. because ITS THE BOTTOM

because its the bottom no farmer on the planet can produce for less than 0.18
 and by the time it gets to market a retailer is market milk for more then $0.18
where by if can swing from anywhere between $0.20 -$0.50 a pint
...

lets go back to discussing bitcoin mining
in 2022
cheap industrial mining is at a low of ~$15k
expensive hobby mining is at a high of ~$90k

so the market price wil wiggle in that window between 15-90
..
last year the expensive hobby mining was at a high of ~$75k
this is where everyone on the planet could mine for less than $75k which is why no one wanted to BUY bitcoin for over $70k as they could get it for less elsewhere.. hence the ATH topped out at $70k

bitcoin would not have gone to $100k because the majority could find it cheaper elsewhere. so there is no support for a $100k ATh last year

opposite is true if you cant acquire it cheaper anywhere else you wont sell for less thus a low barrier of support of people refusing to sell for less

* bottom cost is not:
the scammers that stole free coins and selling at any cost
-because thats not ongoing repeats. its a one time deal and gone
the electric theives
-because they are small/temporary and dont affect the industry majority
the aliens from the future using xenohash asics to prove maths wrong
-because thats not science

bottom cost is
actual rational and sustainable low cost of actual industrial size mining enough to be a push factor of the bottom