The journey from the BANCOR to SDR to BitGold .. to Satoshi Project (via US GOV. Agencies)?? 09. Is it a concentrated (but decentralized) weapon??
Salvi Salvatore Vicidomini
Technical Writer of BOOK: VanGELO Assoluto. at #VanGELOassoluto BY SalvatoreVICIDOMINI??{Dep.109596 (CC BY-NC-SA 4.0)}??
█The journey from the BANCOR to SDR to BitGold .. to Satoshi Project (via US GOV. Agencies)?? 09. Is it a concentrated (but decentralized) weapon?? █
The Fanta-Political SciFi .. https://www.researchgate.net/publication/352707033
Bitcoin shows several characteristics of an unconventional financial weapon.
In detriment of the initial project entirely based on decentralization, today Bitcoin appears strongly concentrated (in alternative mode) in very few realities (see specifics listed below with sources):
--the addresses attributable to the mysterious Satoshi Nakamoto;
--the new BTC-based financial industry, both spot ETFs and futures (see Coinbase & futures cases);
--US Government.
It is plausible that this concentration could further consolidate and further increase in value (think to BTC price 100-150k), as well as becoming an increasingly globally used asset.
Bitcoin could be used as a ""subprime asset"" timer-bomb toward a new monetary deal??
-----Satoshi Nakamoto (~1.1 million BTC) It's unsurprising that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, remains the largest holder of the cryptocurrency. It's estimated they hold an astonishing fortune of around 1.1 million BTC. This impressive accumulation of wealth stemmed from Satoshi Nakamoto's mining activities during Bitcoin's early days. Some report that Nakamoto mined as many as 54,316 Bitcoin blocks, receiving a block reward of 50 BTC for each block prior to the first halving event. What's interesting is that the thousands of bitcoin Nakamoto earned from block rewards have never been spent. Instead, these coins lie dormant spread across approximately 22,000 different wallet addresses. If any of these coins moved, it could cause significant fluctuations in bitcoin's value and send shockwaves throughout the wider cryptocurrency industry.
-----US governative agencies now have about 200,000 BTC in its wallets.
-----The US ETF financial industry now manage about 500,000BTC.
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-----Most spot Bitcoin ETFs rely on a third-party custodian to actually store the Bitcoin they hold — much like how spot gold ETFs often keep their physical gold holdings in the vault of a third-party custodian. Eight out of the 10 currently trading spot Bitcoin ETFs use Coinbase (COIN) as their Bitcoin custodian. The only exceptions are the Fidelity Wise Origin Bitcoin Fund (FBTC), which uses Fidelity itself as a custodian, and the VanEck Bitcoin Trust (HODL), which uses Gemini. Coinbase's dominance in Bitcoin ETF custodianship has created concerns about custodianship risk. If Coinbase ran into severe financial trouble in the future — for example, due to a cyberattack, a government penalty, or a decline in its revenue — would the holdings of Bitcoin ETFs be safe? There are mechanisms by which ETFs — and investors themselves — could recover their holdings in the event of a Coinbase bankruptcy, but they wouldn't necessarily be instant or automatic. So custodianship risk may be something to consider while shopping for a spot Bitcoin ETF.
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The Cryptomaster (Recovering from Retrograde Amnesia)
6 个月Yeah the USG is very much involved in Ethereum and others. There was a peripheral involvement with regards to Bitcoin as well. Read https://www.dhirubhai.net/pulse/how-bitcoin-created-mike-hydes-lu8me/
Technical Writer of BOOK: VanGELO Assoluto. at #VanGELOassoluto BY SalvatoreVICIDOMINI??{Dep.109596 (CC BY-NC-SA 4.0)}??
6 个月https://www.dhirubhai.net/pulse/journey-from-bancor-sdr-bitgold-satoshi-project-via-us-vicidomini-nhr5f/