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....
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 fire. A pipeline for capital which is going to send the price this cycle in an unprecedented way that can’t simply be switched off by Gov as they’re doing for retail on-ramps which are a garden hose in comparison.
My concern isn’t the ETFs centralising Bitcoin the network, or it’s consensus. My concern is this is the sovereign game theory starting in earnest and nobody is talking about that.
They’re on track to have 10%+ of coins by the end of the year - that’s a gigantic honeypot for the USGov to 6102 and possibly use to repeg the dollar to Bitcoin rather than gold. Luke Gromen is the only person who has articulated how/why, watch 5 minutes of this:
THAT would be a problem. That’s hyperbitcoinisation in a way that we DO NOT want. They would be using our sound money in the fiat system, no table overthrow or reset - just fiat games which Bitcoiners will have to deal with.
The upside here is that, Wall Street and the USGov have never played this game. They’re on our turf and it is completely alien to them. They’ve never had to deal with meatbags custodying Trillions in wealth behind a few keys, nor a whole bunch of now rich anarchist types who want to smash their system and have money to fund their schemes..
This is where Bitcoiners get to go on offence. If they hold 70% of the corn when it hits $1 Million+ then we have a well funded army to go out and recruit more people through that positive vision, to grow the network rapidly, to demonstrate a better way.
Don’t sell corn to Larry Fink - prepare for shit to get real.
From Bitcoins perspective, think of the ETFs as a way to more efficiently dump fuel on the fire. A pipeline for capital which is going to send the price this cycle in an unprecedented way that can’t simply be switched off by Gov as they’re doing for retail on-ramps which are a garden hose in comparison.
My concern isn’t the ETFs centralising Bitcoin the network, or it’s consensus. My concern is this is the sovereign game theory starting in earnest and nobody is talking about that.
They’re on track to have 10%+ of coins by the end of the year - that’s a gigantic honeypot for the USGov to 6102 and possibly use to repeg the dollar to Bitcoin rather than gold. Luke Gromen is the only person who has articulated how/why, watch 5 minutes of this:
THAT would be a problem. That’s hyperbitcoinisation in a way that we DO NOT want. They would be using our sound money in the fiat system, no table overthrow or reset - just fiat games which Bitcoiners will have to deal with.
The upside here is that, Wall Street and the USGov have never played this game. They’re on our turf and it is completely alien to them. They’ve never had to deal with meatbags custodying Trillions in wealth behind a few keys, nor a whole bunch of now rich anarchist types who want to smash their system and have money to fund their schemes..
This is where Bitcoiners get to go on offence. If they hold 70% of the corn when it hits $1 Million+ then we have a well funded army to go out and recruit more people through that positive vision, to grow the network rapidly, to demonstrate a better way.
Don’t sell corn to Larry Fink - prepare for shit to get real.
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