Damus
StackSats.IO · 100w
GOLDBUGS AREN’T BITCOINERS And they never will be. Yes, they’ve identified a common enemy - central banks and governments who print money out of thin air. And they have the right prescription ...
Michael profile picture
What about the implications of Bitcoin ETFs. These financial instruments allow entities to accumulate large amounts of Bitcoin, potentially gaining enough control to influence its price significantly. Such a concentration of Bitcoin in the hands of a few is concerning and contradicts the decentralized ethos that Bitcoin advocates for. If one of the primary critiques of Goldbugs is their self-serving approach and the centralization of gold, then the same scrutiny must be applied to the Bitcoin ecosystem. The potential for a similar centralization through Bitcoin ETFs poses a question worth pondering: How can we ensure that the movement towards digital currency remains true to its foundational principles of decentralization and accessibility for all, without replicating the very issues it seeks to resolve?
11🤙1
StackSats.IO · 100w
The ETFs were inevitable. Wall Street are the epitome of “in it for themselves” and it became too clear that there was huge money to be made here so they wanted in, and they always get what they want. From Bitcoins perspective, think of the ETFs as a way to more efficiently dump fuel on the fir...