Oddbean new post about login | logout True. But if the vast majority of people keep their sats on an exchange, that’s going to affect the market value of our cold stored sats, no? That’s what I’m interested in.
Yeah - it's people who are happy to leave their Bitcoin on exchange that allows exchanges to run a fractional reserve. Proof of reserves won't stop that behavior. The only thing that stops it is people withdrawing their Sats & taking responsibility for their bitcoin.