Nov. 30, 2023
Good day, I want to propose my idea for a BTC spot ETF prove: 1) company XY must publish any adresse holding "their" BTC. 2) company XY must send signed messages for these adresses like normal people in the EU must prove their possession of wallet XY or a transaction with a tiny amount naming the company in OP_RETURN like pools do. 3) SEC must send a very, very small amount of BTC to wallet XY to confirm this wallet from a published "confirm" wallet. Or wallet XY must send a "registration" amount to a SEC wallet. This transaction may contain a secret that you can verify on the SEC homepage. So you have a two-way-confirmation that company XY owns this wallet. We just have to trust one entity, the SEC, and not many companies. Even the SEC does not need to be trusted because anyone can see the "registration" transactions. Many thanks for your time reading this :) I hope, I could help you a tiny bit. Michael Fuhrmann