02-22-2022, 04:11 AM
If exchanges hold BTC for their customers, is it possible they are selling more than
<!-- SC_OFF --><div class="md"><p>This question came up to me right now.</p> <p>Lets say Binance has 100 BTC in their possession and they're "selling" the BTC to their customers, or they're holding for them. Is it possible that they are allocating 1 BTC for two different people that have 1 BTC each?</p> <p>Is that possible? Can they be somewhat creating imaginary BTC?</p> <p>​</p> <p>Now if everyone would take all BTC of Binance, what would happen? Would they have all the BTC needed for that or they would be lacking some?</p> <p>If this is true, we are saying that theoretically there is more than 21 Million BTC because exchanges are selling more than what they have, thus we have a lot more BTC than the supply available, which means we have imaginary BTC.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/niddLerzK"> /u/niddLerzK </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxydat/if_exchanges_hold_btc_for_their_customers_is_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxydat/if_exchanges_hold_btc_for_their_customers_is_it/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This question came up to me right now.</p> <p>Lets say Binance has 100 BTC in their possession and they're "selling" the BTC to their customers, or they're holding for them. Is it possible that they are allocating 1 BTC for two different people that have 1 BTC each?</p> <p>Is that possible? Can they be somewhat creating imaginary BTC?</p> <p>​</p> <p>Now if everyone would take all BTC of Binance, what would happen? Would they have all the BTC needed for that or they would be lacking some?</p> <p>If this is true, we are saying that theoretically there is more than 21 Million BTC because exchanges are selling more than what they have, thus we have a lot more BTC than the supply available, which means we have imaginary BTC.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/niddLerzK"> /u/niddLerzK </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxydat/if_exchanges_hold_btc_for_their_customers_is_it/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/sxydat/if_exchanges_hold_btc_for_their_customers_is_it/">[comments]</a></span>Kind Regards R