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268 sats \ 18 replies \ @siggy47 15 Jun 2023
It's good to be friends with the king.
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20 sats \ 0 replies \ @shibe 16 Jun 2023
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0 sats \ 16 replies \ @guts 15 Jun 2023
I wouldn't be friends with the same people who are pushing ESG.
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200 sats \ 15 replies \ @tomlaies 15 Jun 2023
ESG is good, actually.
E = environmental is good for nature. If you're against this, you're probably just a defiant kid. Being against nature is just reactionary but not fact-based or sane.
S = a social corporation has a better long term outlook for profits in the long term probably
G = Governance is shareholder rights. More power to shareholders is good for capitalism and good for the free market. That's why eg Facebook has such a bad ESG rating: shareholder rights are weak when Zucc has total control
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48 sats \ 2 replies \ @sudonaka 15 Jun 2023
ESG is fascism (state + corporate influence in governing)
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0 sats \ 1 reply \ @tomlaies 16 Jun 2023
As expected: emotional whining instead of fact based arguments
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5 sats \ 0 replies \ @sudonaka 16 Jun 2023
Look up the definition of Fascism dude
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11 sats \ 2 replies \ @9ener1c 15 Jun 2023
Can’t tell if kidding.
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0 sats \ 1 reply \ @tomlaies 16 Jun 2023
Maybe because you lack critical thinking skills and just parrot what other people in your bubble say?
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14 sats \ 0 replies \ @9ener1c 16 Jun 2023
Now that’s what I call reactionary 😂
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3 sats \ 1 reply \ @guts 15 Jun 2023
That's not actually good at all.
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0 sats \ 0 replies \ @tomlaies 16 Jun 2023
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0 sats \ 6 replies \ @sudonaka 15 Jun 2023
Just in case you are not joking: https://www.dailymail.co.uk/news/article-12194317/amp/Elon-Musk-slams-S-P-Global-ESG-scores-giving-Malboro-HIGHER-investment-rating-Tesla.html
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0 sats \ 5 replies \ @tomlaies 16 Jun 2023
That ist the IMPLEMENTATION of ESG that failed not ESG itself. I agree with that - this scoring makes zero sense.
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5 sats \ 4 replies \ @sudonaka 16 Jun 2023
A system that allows big business to rule over people and make de facto laws by steering investment policy away from free market decisions is ANTI-democratic and fascistic.
Are you a socialist or what?
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0 sats \ 3 replies \ @tomlaies 19 Jun 2023
No, I'm a neoliberal/libertarian shill. I believe what markets, stock markets and corporations decide is fundamentally good and right
Your the one defending the poors like a commie here.
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0 sats \ 2 replies \ @sudonaka 20 Jun 2023
Then you need to look up the definition of ESG.
It’s specifically demands mal-investment on behalf of “the poor” and “the climate”
ESG is an authoritarian policy that is antithetical to free markets. The only reason it exists today is the corruption and socialist government forces people’s retirement accounts into ESG scams.
Sure blame the people for not taking ownership of those 401ks but I’m also blaming the government
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231 sats \ 7 replies \ @birdeye21 15 Jun 2023
this is how they attack bitcoin...by steering the masses away from self-custody and into ETFs, only for them to later find out they're holding paper bitcoin
Mega rug pull in the works
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235 sats \ 2 replies \ @kilianbuhn 15 Jun 2023
I would be very surprised by this. Gold or other commodities have ETFs as well.
Of course it is bad that it steers people away from self custodial. And the fees will be ridiculous like in other commodities 😂
But no will they rugpull like those shady grifter custodial exchanges
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0 sats \ 1 reply \ @03014f425f 16 Jun 2023
Gold market is apparently 100:1 paper ounces to physical ounces though
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0 sats \ 0 replies \ @kilianbuhn 10 Jul 2023
I'm pretty sure that's an internet legend / common missinformation based on a missunderstanding on how options work
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235 sats \ 3 replies \ @mudbloodvonfrei 15 Jun 2023
Why are you so sure it's going to be a rug pull? Seems like a good entry point for a lot of people. I don't think billions of people doing self-custody is likely, especially for small amounts.
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53 sats \ 2 replies \ @birdeye21 15 Jun 2023
rug pull in the sense that if they need real bitcoin, they'll quickly learn they don't have any available, and at that point they better hope they have easy and timely access to acquire real bitcoin
complacent ETF holders without proper education may sit in Bitcoin ETFs thinking they'll cash out for dollars in the future only to learn those dollars are much less valuable
I agree that billions holding self-custody isn't the likely path forward, but you can't even use an ETF as custodial bitcoin for payments/transfers/etc., the ETF just an investment vehicle afaik
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7 sats \ 1 reply \ @mudbloodvonfrei 15 Jun 2023
You're right, it's meant as an investment vehicle. As long as it's fully backed, I don't see a problem. The price will likely go up significantly, bringing a lot of publicity. If even 5% of people who buy the ETF to get rich end up going down the rabbit hole, the world will be a better place.
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0 sats \ 0 replies \ @birdeye21 15 Jun 2023
Maybe the ETF will serve as an educator for some, but if it only drives 5% down the rabbit hole, at the expense of 95% being stuck with paper bitcoin, I don't know if that's a net positive.
I get the benefit on paper of getting spot ETFs - it's the legitimizer needed to get institutions on board - but if we do go full hyperbitcoinization, the mass exodus out of tradfi could be very painful
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97 sats \ 3 replies \ @grayruby 15 Jun 2023
This is likely good for price, bad for adoption and a trojan horse for paper bitcoin.
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6 sats \ 0 replies \ @tomlaies 15 Jun 2023
Paper Bitcoin will unfortunately come to this world. But pretty sure not through this vehicle. It will come through "cool" and "sleek" custodial apps.
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0 sats \ 1 reply \ @orthwyrm 16 Jun 2023
I'm not sure where I stand with the paper BTC risk. I don't think fractional reserve systems last long with an asset as fluid and verifiable as Bitcoin.
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0 sats \ 0 replies \ @grayruby 16 Jun 2023
Let's hope.
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323 sats \ 3 replies \ @sudonaka 15 Jun 2023
Fuck blackrock
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0 sats \ 1 reply \ @tomlaies 15 Jun 2023
I think Blackrock is great, actually
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0 sats \ 0 replies \ @sudonaka 15 Jun 2023
You can thank blackrock for ESG stopping energy production and DEI creating toxic workplaces
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0 sats \ 0 replies \ @BlokchainB 15 Jun 2023
I approve of this! I rather be broke then give that firm another sat of my earnings
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0 sats \ 0 replies \ @dash 15 Jun 2023
Makes absolutely no sense to have a bitcoin etf. The only value bitcoin has is as a censor and seizure resistant money that can be transported at the speed of light, as a digital native bearer asset, and can be transported across borders by simply memorizing 12 words. It has zero value beyond this, and if you have "your" bitcoin in an ETF you don't have any bitcoin and you lose all of the benefits of bitcoin. So why even make this? It doesn't make any sense.
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0 sats \ 1 reply \ @sudonaka 15 Jun 2023
Everything is good for Bitcoin
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0 sats \ 0 replies \ @sandbeach123 16 Jun 2023
You sir get it.
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