WoS never provides you with keys to "your Bitcoin" on their platform.
You can never know for sure how much of the real Bitcoin you sent to them was rehypothecated.
It's like you trying to validate how much gold I have in my safe. I could say I have $100B and issue receipts for people to trade around the "ownership" of it. If your inflows can cover your outflows, you've got yourself a scheme.
I guess what's being implied here is be careful of the risk you take when you do not have true ownership over your keys.
skreep / ⚡skreep
npub15j…47ejp
2023-07-20 00:51:50
in reply to nevent1q…3jkv
Author Public Key
npub15jvjdz95f8ptm4h6nsu63qxhlcnata0ra875c37ktkpytz8avc8sh47ejpPublished at
2023-07-20 00:51:50Event JSON
{
"id": "2b292661e08a6f2351558794a41f7425faa5606dc3c7d99209cd04082f1cc179",
"pubkey": "a4992688b449c2bdd6fa9c39a880d7fe27d5f5e3e9fd4c47d65d824588fd660f",
"created_at": 1689807110,
"kind": 1,
"tags": [
[
"e",
"bf6431d0685280f3b6b7f9524572b4f7eaf91d95716d988c1ea61b6d6bcbe471",
"",
"root"
],
[
"e",
"5982580ba34a3ac58407f49093e8b35a280823c8c168cb77e9fec00aeac3d1de",
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[
"p",
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],
[
"p",
"d4ad3b6eeaff13fe0ccac86d2294049798ae2e397796ada5be3196592e56e2a7"
]
],
"content": "WoS never provides you with keys to \"your Bitcoin\" on their platform. \n\nYou can never know for sure how much of the real Bitcoin you sent to them was rehypothecated. \n\nIt's like you trying to validate how much gold I have in my safe. I could say I have $100B and issue receipts for people to trade around the \"ownership\" of it. If your inflows can cover your outflows, you've got yourself a scheme. \n\nI guess what's being implied here is be careful of the risk you take when you do not have true ownership over your keys. ",
"sig": "cc6b466d80a027eca665168fbe0a33f1a6ebac885187164de797432acb7cb6e8ba085218d1aa7e927e1bdc764332ffb114de81eee4f867667c3b4d2533ab3480"
}