Suppose someone like BlackRock wants to manipulate the price of an asset by creating more claims on it than what actually exists.
Taking physical delivery of the underlying asset would be one way to reveal the fraud.
If there are more claims than actually exist, asking for physical delivery will reveal it because the delivery will fail.
Think of taking physical delivery like calling the manipulator’s bluff.
It’s challenging to take delivery of physical commodities traded on large exchanges, which opens the door to creating more claims than actually exist. It’s not easy to call their bluffs.
However, with Bitcoin, taking delivery is as simple as sending an email.
If anyone is idiotic enough to create more claims to Bitcoin than actually exist, revealing the fraud will be much easier than with other assets.
If BlackRock or some other entity tries this stunt, consider it a gift. You’ll be able to accumulate more Bitcoin at artificially lower prices until their Ponzi Scheme inevitably blows up.
NickGiambruno / Nick Giambruno
npub1wgj…e082
2023-08-15 15:17:41
in reply to nevent1q…2w2a
Author Public Key
npub1wgjh30uxvvepumxhl3qlfzmt4chueprxmcvrxyw0wjtv9m4w8zwq3se082Published at
2023-08-15 15:17:41Event JSON
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"content": "Suppose someone like BlackRock wants to manipulate the price of an asset by creating more claims on it than what actually exists.\n\nTaking physical delivery of the underlying asset would be one way to reveal the fraud.\n\nIf there are more claims than actually exist, asking for physical delivery will reveal it because the delivery will fail.\n\nThink of taking physical delivery like calling the manipulator’s bluff.\n\nIt’s challenging to take delivery of physical commodities traded on large exchanges, which opens the door to creating more claims than actually exist. It’s not easy to call their bluffs.\n\nHowever, with Bitcoin, taking delivery is as simple as sending an email.\n\nIf anyone is idiotic enough to create more claims to Bitcoin than actually exist, revealing the fraud will be much easier than with other assets.\n\nIf BlackRock or some other entity tries this stunt, consider it a gift. You’ll be able to accumulate more Bitcoin at artificially lower prices until their Ponzi Scheme inevitably blows up.",
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