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20 sats \ 1 reply \ @SpaceHodler 1 Nov 2023 \ on: Why Shunning a Bitcoin ETF is More Important than Celebrating it bitcoin
Sure, but here is a question that many will have to answer:
What do you do with your pension plans your past employers have paid into and you can't withdraw from for another 10-30 years, because the goblerment says so?
Keep them in the S&P 500, because that's self-sovereign, censorship-resistant and has no counterparty risk, and Google, Apple, Microsoft, Amazon and Meta stonks are the epitome of freedom?
There are things that suck extraordinarily, and things that just suck. Some may prefer the latter.
So I said this already:
#301069
What happens to those 401ks in the case of a fork? Do you own Bitcoin? Or are you left with Bitcoin Cash?
What would have happened if a Bitcoin ETF company took part in the NY Agreement?
https://en.bitcoin.it/wiki/New_York_Agreement
Okay, additionally, you can actually talk to a lawyer about setting up a self directed IRA (where you set up a holding company that you run to hold your assets for you the customer) I know there are self directed IRA companies and I specifically don't mean those.
Also, unchained capital (while not ideal in my opinion) I've heard people gave them 1 key in a 2 of 3 multi-sig and that was good enough for a retirement account as well.
Now, I won't pretend like I understand the requirements to roll over one retirement plan into a different retirement account and all of those things, but of what I do know, there looks like a path that can be taken to avoid a lot of the risk that using an ETF instead would bring.
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