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List:       bitcoin-dev
Subject:    Re: [bitcoin-dev] Proof of reserves - recording
From:       Eric Voskuil via bitcoin-dev <bitcoin-dev () lists ! linuxfoundation ! org>
Date:       2021-07-10 1:49:37
Message-ID: 010201d7752d$d78f7480$86ae5d80$ () voskuil ! org
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All reasonable.

e

> Okay, it seems to me that what you are saying is something like this:
> 
> > Proof-of-reserves would (partially) work for a "pure" warehousing service
> (i.e. user pays some fee, service keeps money and provides proofs that
> money is kept).
> > However, "pure" warehousing is not what a typical exchange does (else
> the explicit fees in their exchanges would be higher), as it takes on risk due
> to having to deal with non-Bitcoin monopoly money (by definition, since they
> are *exchanges*).
> > Further, with Bitcoin you can be your own warehouse (including Green-like
> multisig schemes where you own your own keys that are part of the
> scheme), which is an alternative choice to hiring a "pure warehouse" (i.e.
> Safe Deposit).
> 
> Would that be a fair (if somewhat rough and undetailed) restatement?
> 
> Regards,
> ZmnSCPxj


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