how easy it is to fake buying bitcoin?

[Cryptomultiplier]

when microstrategy bought bitcoin back when the world was not as welcoming as it is now to bitcoin, a lot of people who did not want to directly buy bitcoin went to invest in microstrategy instead and now i think bitcoin has also become a way for companies to attract more investors into their company

but how easy would it be to fake buying bitcoin? answer is very hard. the blockchain is public and you would need to be really smart to pull this off and show some evidence to investors. if you are proven to be only faking buying bitcoin to attract investors, you can be sued.

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

I mean, companies can lie... there is nothing new about it, though it is easier for private companies to do so, when comes to public companies it is harder as they are being over-seen by regulators and investors alike and whoever is behind faking data could be thrown in prison for financial crimes.

In theory, it would be difficult to pull off, but it is doable if a company really wants to get out their way in order to lie about their Bitcoin holdings, though I am not sure whether it would be worth for a company to lie in such way in order to attract investors who are interested in Bitcoin, they could just go for it and actually buy some Bitcoin for cashing out in a few years.

It is clear as daylight that a public company that lies about their Bitcoin holdings is going to get the CEO arrested, and even face shutdown at the highest order.
However, if a private company lies, there may be reasons responsible for this ungodly action of which could range from trying to survive insolvency to overcoming bank run issues.

The most funniest part is when a random site you find via an advert online, is claiming to have a large deposit of Bitcoin of which isn't true, they may be likely to want to steal your initial deposit to their website and then just disappear without any trace because they are fraud or scam sites. Be vigilant always and DYOR.

[Zanab247]

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

The only way we would know they are lying is if they are caught and exposed. An independent audit from a reputable firm might also show if they are lying or not. This fake disclosure might be why the government is making new regulatory laws which might include compelling them to submit themselves for government audit.

I don't think company will lie in that aspect telling people that they have bought BTC when they know they did not buy any BTC, because there are some people that will ask for their address to believe that they are into BTC investment. Lying will not make other companies to invest in BTC because that is not what will convince them to invest in BTC but showing them evidence how much the company bought BTC and what they have earned from  BTC, it will motivate other companies to invest.

Not all companies that will come out in public to announce such new development, because they know that government officials is monitoring every public announcement make  by any company.

[Franctoshi]

when microstrategy bought bitcoin back when the world was not as welcoming as it is now to bitcoin, a lot of people who did not want to directly buy bitcoin went to invest in microstrategy instead and now i think bitcoin has also become a way for companies to attract more investors into their company

but how easy would it be to fake buying bitcoin? answer is very hard. the blockchain is public and you would need to be really smart to pull this off and show some evidence to investors. if you are proven to be only faking buying bitcoin to attract investors, you can be sued.

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

It's possible to say shit, "we bought Bitcoin" when the buyer did not publish any of their transaction, the wallet which they used in purchasing the Bitcoin, so they can make fake claims regarding their Bitcoin holdings, but this is what that will get them exposed, it is when an investor demands for proof of assets and they couldn't provide evidence of purchase. But I doubt if a reputable company would do such a thing that could paint their name bad.

[rat03gopoh]

but how easy would it be to fake buying bitcoin? answer is very hard.

Who said that? Bitcoin trading doesn't just happen p2p.
If you want to know the ideal place to lie about your bitcoin purchases, buy them on a centralized exchange and hold them there. Or you can use leverage to pretend you're buying/selling up to 100x (some even up to 150x).
It's so easy.

[Faisal2202]

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

Now think about the situation where they might be buying ahead of their announcement that they are going to buy instead of not buying. You are right they can't hide the fact that they have bought or not but they can buy earlier, so later when they share the news, the market pumps and they could take the profit.

Almost 200 companies have done this and they are being investigated now https://beincrypto.com/us-regulators-probe-200-firms-over-unusual-trading-ahead-of-crypto-treasury-deals/ it was an old news on which I want to cover a topic on another forum and look how it was used here.

Anway the number of these companies is not a small one so I hope you can understand who would be faking what, this fiat world is actually a bubble, not bitcoin.

[adultcrypto]

[Snip]

It's possible to say shit, "we bought Bitcoin" when the buyer did not publish any of their transaction, the wallet which they used in purchasing the Bitcoin, so they can make fake claims regarding their Bitcoin holdings, but this is what that will get them exposed, it is when an investor demands for proof of assets and they couldn't provide evidence of purchase. But I doubt if a reputable company would do such a thing that could paint their name bad.

The focus of the post was on MicroStragy, the OP was having doubt about what they announce every now and then as their bitcoin accumulation. It is actually tempting to doubt if they made those buys because even when such amount of money is injected into the market, you will hardly see any serious volatility in the market that will push the market high due to the buy pressure. However, MicroStrategy bought those coins and there are several ways to verify that besides Michael Saylor's Twitter handle where such buys are posted.  

[Fivestar4everMVP]

when microstrategy bought bitcoin back when the world was not as welcoming as it is now to bitcoin, a lot of people who did not want to directly buy bitcoin went to invest in microstrategy instead and now i think bitcoin has also become a way for companies to attract more investors into their company

but how easy would it be to fake buying bitcoin? answer is very hard. the blockchain is public and you would need to be really smart to pull this off and show some evidence to investors. if you are proven to be only faking buying bitcoin to attract investors, you can be sued.

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

First, I want to acknowledge the fact that I know it's been a bit long since you made this topic, around July but since the thread is still active, I guess no issue saying something.

There aren't any way I know one or company could fake buying bitcoin, or is there?
When you as a person or company tells investors or potential investors that you bought some bitcoins, you have to show proof, and if you don't show it, it's the right of your investors and potential ones to ask for proof.
You could decide to show them some doctored screenshot and if the investors and potential ones believe you with this, then they are the bigger fools..

To be trusted and believed, a blockchain transaction link must be provided and it must lead to an original blockchain   explorer site and not a phished version of the blockchain explorer site.

[Nathrixxx]

when microstrategy bought bitcoin back when the world was not as welcoming as it is now to bitcoin, a lot of people who did not want to directly buy bitcoin went to invest in microstrategy instead and now i think bitcoin has also become a way for companies to attract more investors into their company

As at then, little do people know about bitcoin, they are not aware to this extent by then, while if we also consider it's value that time, it is nothing to compare on what bitcoin now is, these organizations provides stocks and shares in form of ETF, uses bitcoin market price to determine their corresponding market value as well.

but how easy would it be to fake buying bitcoin?

You can't fake buying or investing in bitcoin, it's either you're buying from within, which is a direct investment into bitcoin and choosing your desired path through it, or you got to invest in an ETF which is another thing entirely different from bitcoin investment, because you're now dealing with a third-party corporate company for your traditional asset investment.

[RockBell]

It's possible to say shit, "we bought Bitcoin" when the buyer did not publish any of their transaction, the wallet which they used in purchasing the Bitcoin, so they can make fake claims regarding their Bitcoin holdings, but this is what that will get them exposed, it is when an investor demands for proof of assets and they couldn't provide evidence of purchase. But I doubt if a reputable company would do such a thing that could paint their name bad.

Things like this are no longer new and you will see how a lot of people claim  they are holding bitcoin and this is because they need recognition, because I don't see the reason why peoppeople will want to claim they have Bitcoin when they do not, because does that are holding bitcoin value what they call privacy a lot because they will want to go will the culture of maintaining it because they want to aviod unnecessary things and that it is why does that make too much noise you will know they are not the serious ones.

And from what it is there proof of assets is there mouth, some of them that behave that way will eventually end up buying because there level of interest should have increased and they will will want to try it by fire by force because, that is when they will know how interesting it is to actually hold because one of the things people are looking at is that they will rather spend than invest and that is why majority are doing exactly what they are doing now, and even if they lie  about there holding it does not affect anyone.

[coolcoinz]

but how easy would it be to fake buying bitcoin? answer is very hard. the blockchain is public and you would need to be really smart to pull this off and show some evidence to investors. if you are proven to be only faking buying bitcoin to attract investors, you can be sued.

Do you know Strategy did not publicly announce their Bitcoin addresses.

Arkham Intelligence did their on chain analysis and found something but their findings can be not completely accurate.
https://intel.arkm.com/explorer/entity/microstrategy

Other Bitcoin Spot ETFs or institutional investors can announce their Bitcoin addresses or not, as there are no existing rules on it.

According to them their portfolio dropped down by 80k BTC in the last few days and I thought Saylor announced a buy last week, so something is wrong with Arkham's data.
I honestly doubt that Saylor is lying about his purchases, but at the same time I don't like the fact that they are keeping the address secret.
I'd expect full transparency from a company like that and I don't buy their argument about security. I've never heard of any person or company that lost their coins because they disclosed the public address.

IMO they are keeping it secret because Saylor doesn't want to spook investors every time he transfers coins out of his wallet. I see his point because people are going crazy every time someone moves some money to a known exchange. There were cases where a whale would send money to Binance or Coinbase and then move it back without selling anything, or people spreading FUD about a whale getting ready to sell when in reality they were just moving coins from an old wallet to a new one.

[pliego]

fake buying bitcoin would be a death sentence for a public company because the moment they got caught the stock would go to zero and everyone would go to jail, it is not like some random altcoin project where the dev can just delete the telegram and vanish with the money, strategy has too much to lose

[ZAINmalik75]

Who said that? Bitcoin trading doesn't just happen p2p.
If you want to know the ideal place to lie about your bitcoin purchases, buy them on a centralized exchange and hold them there. Or you can use leverage to pretend you're buying/selling up to 100x (some even up to 150x).
It's so easy.

They would still need to show some proof of their purchase if they are to announce it publicly, besides, I don't think a large company would ever buy and keep a large number of bitcoins in a centralized exchange because it will be worth billions of dollars, and those who are not fools would never believe that the company is telling the truth because they would either use a treasury service, or use their own cold wallets to keep the funds instead of keeping them in a centralized exchange which are prone to hacks and exploits, etc.

So, in my opinion, a company that has a big name in the corporate world, and is known worldwide, would never try to fake such a thing, because once the truth unfolds, their reputation will drop significantly, they will lose value because investors will dump their shares and choose other companies instead because no one would want to have themselves associated with a company that fakes things to stay in the headlines.

[vanesha]

I feel fortunate that Bitcoin was created with a transparent blockchain system. It makes tracking much easier. The weakness, however, is that only the holder of the seed phrase can access the wallet. I wonder if a crime like that happens in the Bitcoin ecosystem—what kind of legal consequences would apply? Asset seizure? No one can unlock it except the seed phrase owner.

As for counterfeiting, only a foolish company would dare to try to fake Bitcoin.

[Z_MBFM]

when microstrategy bought bitcoin back when the world was not as welcoming as it is now to bitcoin, a lot of people who did not want to directly buy bitcoin went to invest in microstrategy instead and now i think bitcoin has also become a way for companies to attract more investors into their company

but how easy would it be to fake buying bitcoin? answer is very hard. the blockchain is public and you would need to be really smart to pull this off and show some evidence to investors. if you are proven to be only faking buying bitcoin to attract investors, you can be sued.

i wondered if there are some companies right now lying about the real amount of bitcoins they have.... are they all telling the truth or just wants the attention and credit without actually spending money?

Everyone really invests in Bitcoin and many big influencers and rich people also invest and keep their Bitcoin in Onchain wallet and make it public. You can easily see that yourself if you look at the blockchain explorer of that wallet. And Bitcoin is not something that you can fake. So there is no point in lying about Bitcoin investment. Many are hidden and they do not want to tell anyone about their Bitcoin investment because they do not want to make their financial status public.

[BlackHatCoiner]

I mean, that's a reasonable concern. A private company does not have to disclose the transaction reports, nor the on-chain proof that it owns the asset. Not entirely sure how far this lack of transparency can go, though, given that it would only take one major investor becoming suspicious about how purchases are made (e.g., which markets are used, private or public etc.) to severely damage the company's reputation and potentially drive it into bankruptcy.

[Judith87403]

To exaggerate or even mislead is possible, yet completely faking Bitcoin holdings is difficult to sustain. Public associations encounter audits, disclosures, custodians, and scrutiny on chain. Any lie seen to be serious risk lawsuits, penalties for regulatory affairs, and even loss of trust. Haven said that, few companies can use vague languages or exposure indirectly to appear bigger than what they really are. To seek attention is real, though deception for long term within holding real BTC is possibly not surviving for long.