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52802938 No.52802938 [Reply] [Original]

Do all exchanges only trade paper BTC or was FTX an exception?

https://twitter.com/WallStreetSilv/status/1598734821701824513

>> No.52803050

>>52802938
because ftx mostly trades on perpetuals?

>> No.52803098

the fuck? we're all now pretending no one else did this just to hate sbf even further?

>> No.52803189

>>52802938
who cares, not your keys just paper.

>> No.52803219

After the collapse of FTX every exchange was under scrutiny for proof of reserves. Almost all exchanges have posted their POR, showing that they have 1 to 1 reserves

>> No.52803224

Real Bitcoin, fake Bitcoin, doesn't matter, the price is manipulated by exchanges. They are all involved in this.

>> No.52803321

>>52803098
That's still pretty eye opening to normies who got fleeced being sold a bill of goods

>> No.52803389

>>52802938
uhhhhh well if thats your definition then yeah i would say most exchanges you dont trade bitcoin. theres no actual transaction on the bitcoin blockchain. its numbers in the exchange's database. the problem is whether or not the exchanges have a process in place where they actually back the positions by allocating bitcoin to you so there would be enough to withdraw when you are holding it on the exchange

>> No.52803416

>>52802938
if you really want to go down the rabbit-hole you need to understand that even after you withdraw your cones from an exchange and have them in your wallet they’re STILL not real, it’s quite shocking, really.

>> No.52803452

>>52803416
Yeah normies heads would explode if they truly knew

>> No.52803470

>>52802938
Of course they all do.
CEX prwctice fractional reserve banking because they're greedy and it all works until there is a bankrun or they make a bad bet.
Keep your shit on your own address and use DEX.

>> No.52803505
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52803505

>>52802938
couldn't you withdraw at any time with FTX (besides of course after the crash kek)? They could have just made trades in real-time to cover the bare minimum of withdrawals in that case

>> No.52803529
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52803529

>>52802938
>WALL STREET SILVER

>> No.52804258

>>52803505
>(besides of course after the crash kek)
that's literally the point
if they actually had the coins to cover the trades, then this wouldn't have been an issue.
all exchanges make trades in their own database until a customer wants to cash out.

do you think they transfer BTC on-chain from one wallet to another every time a customer makes a trade?
no, of course not

>> No.52805341
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52805341

>>52803098
Hey cunt I get it you want to suck SBF off because you are part of his shitty ass tribe, but no one fucked crypto like he did. You think it's a coincidence that Goldman Sachs has said crypto and blockchain can only thrive if a regulated institution like them is in charge? Fucking kys you dumb fucking nigger. SBF kept the entire market in check so all the big players could buy at a super discount even though they could afford to pay more. Then at the appropriate time, FTX fails and forces regulation allowing the big banks to buy more and totally control the space.
Seriously you stupid faggot rope yourself for this comment.

>> No.52805463

>>52802938
goyim starting to learn about fractional reserve and IOUs

kek