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30 sats \ 3 replies \ @grayruby 23 Jun 2023 \ on: If Blackrock wants PoS why didn't they apply for a Eth ETF? bitcoin
Blackrock is not going to fork Bitcoin. They want to make fees off rich boomers, pension funds, etc who don't know how to self custody bitcoin. It's a standard disclosure.
The other angle that is bullish is that this clearly signals that there is more untapped demand for bitcoin. People still don't understand what it is, how it works, but they know there is something there they want a piece of. This used to annoy me because people didn't get it but people don't get a lot of things they trust in and we don't have to have everyone understanding bicoin for it to win. If you think about the average person that is working a job they don't understand many many things that they just "believe" in. They follow the crowd. That isn't gonna change. What needs to change is who they follow and what they trust in. It will change. We figured it out before them and our behavior is leading the way.
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Agree. Most people will never understand bitcoin just as most people don't understand the fiat system. Access is good. We just need to keep doing our part and convincing folks to learn more and push self custody as much as we can. Even custodial solutions like unchained for those that really aren't comfortable holding their own keys. It took me a year and a half to convince my best friend to get his bitcoin off cryptocom and it was the FTX debacle and it looking like cryptocom was next that finally convinced him. I was at the point I was going to order a hardware wallet, have it shipped to his house and show up there and not leave until he got his bitcoin off the exchange but he was very motivated when he thought he was about to get FTXd so it didn't get to that point. Haha
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That's what I think is most likely. Bitcoin's incentive structure is one of its best attributes and their greed for more wealth outweighs any ideological bent IMO.
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