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42 sats \ 4 replies \ @optimism OP 6 Sep \ parent \ on: The Fed’s ‘Gain of Function’ Monetary Policy (WSJ, Bessent) econ
The counterargument to that is that you'd create enormous weakness in the West, and in the East, I'd be surprised if there isn't a constantly updated playbook of how to exploit such a situation, that will be guaranteed to be executed.
The main question on my mind these past years has been: is Bitcoin still for the people like it was the first decade? Or is it, since Foundry/ETFs/Treasury scams, no longer just for the people? If the former, then honeybadger dgaf about the printers. If the latter, then honeybadger better stay in shape and find ways to actively decouple from the establishment.
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100 sats \ 2 replies \ @daolin 6 Sep
Bitcoin protects its users if they know how to use it. It doesn't judge whether you're a high ranking official bailing on the old system, or a former victim of it that never supported it, it only demands that you submit to the new rules.
My guess is that normies scramble for the ETF's at higher prices and with higher leverage until a dip in price triggers an issue with withdrawals. The price crashes below $1 million and critics gloat that Bitcoin failed.
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8 sats \ 1 reply \ @optimism OP 6 Sep
More likely their ETF IOUs turns out to have been a fractional reserve vehicle. Bankers be banking.
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100 sats \ 0 replies \ @daolin 6 Sep
You and I know that. I was thinking of what the vague and misleading headlines will look like.
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100 sats \ 0 replies \ @Undisciplined 6 Sep
I'm confident that it's the latter. Early on, bitcoin was too irrelevant to meaningfully be "for the people". Now, it's too relevant to just be "for the people".
I don't think it matters, though. It's the tool that will bring down the corrupt monetary system and they can't change that fact.
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