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100 sats \ 2 replies \ @daolin 6 Sep \ parent \ on: The Fed’s ‘Gain of Function’ Monetary Policy (WSJ, Bessent) econ
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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