I'd like to know how they keep it all balanced, too.
How much of what comes in will never leave?
What happens when one coin goes up against other coins and people withdraw more than what has been put in?
How do you get more of xx when folks trade btc for it and you don't have enough to cover withdrawals?
It must be a nightmare keeping all that balanced.
And, again, a nyknyc day would expose all that.
I'll be soooo glad when vsc comes online to expose the fraud in cex's.
No fraud there, all deposits are fully backed by matching assets put up to insure the withdrawal.
(Which I also don't fully understand.)
I hope a response is coming to the debunking of the chapter 9 question.
How does an ever increasing amount of profits resolve once the crowd has nothing left to pay them?
It's all mathematically sound when you just let users trade with each other.
A person can't sell a token they don't own.
Every token sold on the exchange was deposited into the exchange's wallet.
At this point Binance has been so utterly captured by American regulators that it's actually irrational to assume they can get away with all the crazy shit they were pulling back in the day. Maybe they're doing new crazy shit by making deals with the politicians that captured them. Who knows.
Lolz, https://www.justice.gov/archives/opa/pr/jpmorgan-chase-co-agrees-pay-920-million-connection-schemes-defraud-precious-metals-and-us.
'The regulators' are crooks, too.
Jpm had a regulator in the office watching the trades in real time the entire decade jpm rigged the markets.
Factually.
Admitted in court records.
At this point, if it's not in your hands, you don't own it.
It's recorded in a ledger that if that ledger were to ever became public your asset would go 'poof'.
Nobody has to believe that.
It is factual record.
Simply force the ledger to be public.
Fractional reserve systems cannot/will not survive a run on the bank.
Much like crapitalism fails once the rich have extracted too much and the people are too poor to pay any more profits.
We have to have workers, we don't have to have dollars.™
https://theanarchistlibrary.org/library/petr-kropotkin-the-conquest-of-bread
Simple to prove assets but not so simple to prove liability.
It's not like you can dox every single person and how much they own.
I don't mean to imply that the regulators aren't crooked.
I do mean to imply that there is not an explanation that makes sense.
If no one can even come up with a single scenario that even makes sense something weird is going on.
Likely 'los ricos' know when the plug is going to get pulled and are preparing for that.