waxwing on Nostr: I believe we currently have the technology to make compact proofs of ownership of a ...
I believe we currently have the technology to make compact proofs of ownership of a certain amount of btc without revealing which utxos we own. Computationally intensive, sure, but compact and quick to verify, even though thwre are 160M+ utxos.
There's a bit of engineering work, but with this, we could embarrass Coinbase Custody into proving they actually hold the coin they claim to.
The spot ETFs sold claims to a combined 1 million BTC! Do they actually hold those BTC? Does Coinbase hold those it should be holding? How can the ETFs have net inflows for 20 days straight and the price doesn't go up like crazy?
Published at
2024-06-09 19:20:28Event JSON
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"pubkey": "675b84fe75e216ab947c7438ee519ca7775376ddf05dadfba6278bd012e1d728",
"created_at": 1717953628,
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"content": "I believe we currently have the technology to make compact proofs of ownership of a certain amount of btc without revealing which utxos we own. Computationally intensive, sure, but compact and quick to verify, even though thwre are 160M+ utxos.\n\nThere's a bit of engineering work, but with this, we could embarrass Coinbase Custody into proving they actually hold the coin they claim to.\n\nnostr:nevent1qqsrnxu0j3rsnzel2mh4y8emrmgmh9xqvqv82fn4h6d92jtfltplfhgpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygzxljlrqe027xh8sy2xtyjwfzfrxcll8afxh4hh847psjckhkxwf5psgqqqqqqsa22rpk",
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