Conversation
Notices
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real life btw
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@icedquinn IT NEVER STOPS GOING DOWN
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@crunklord420 X M R
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@icedquinn now do XMR-BTC chart, the real chart.
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@crunklord420 :neocat_thonk:
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@crunklord420 Sounds like someone's risk officer heard about the ETFs, then had an extremely bad weekend drawing up a model.
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@PunishedD Bitcoin ETPs are kinda scary considering they can literally just go to zero in a single moment due to a lost wallet. I don't know many assets that are like that. I guess you can lose property in a war since no insurance company seems to cover that.
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@PunishedD I read one of the prospectus' (Fidelity's iirc) and they just use multisig wallets it's not that complicated. I believe Blackrock outsources their custodial work to Coinbase.
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@crunklord420 Technically common stock can do that, if it's on a market with no circuit breakers. But usually there's a par value or book value that provides a theoretical floor based on the physical assets of the company. In a post-2000 inflation world I don't think anyone looks at it any more.
I bet all these Bitcoin funds lease every scrap of their equipment to keep their book value as close to zero as possible. More room to leverage up.