There’s news everywhere of TradFi and Wall Street’s increasing interest in Bitcoin the only way they know best that is via the Bitcoin ETFs. It’s all well and good when we look at it from the NGU technology perspective. What are the possible consequences when we view it from the Freedom tech perspective though? What could be the unforeseen ramifications of Wall Street “muscling” in on bitcoin with Mega Fiat?
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0 sats \ 1 reply \ @memeverse 17 Aug
You're right; the entrance of traditional finance into the world of Bitcoin through instruments like ETFs represents a significant paradox.
On one hand, this could lead to greater legitimacy and acceptance of Bitcoin as a serious asset, helping to integrate it into the global financial system.
On the other hand, I’m concerned about the risk that Bitcoin's fundamental principles, such as freedom and decentralization, might be compromised.
The fact that the cryptocurrency market is already heavily influenced by traditional financial dynamics is worrying.
There’s a risk that manipulation and centralization could increase, potentially impacting Bitcoin’s integrity and security.
I believe that in the future, the difference between Bitcoiners and investors will become more pronounced. Those who understand Bitcoin’s potential beyond just economic value won’t be satisfied with an ETF.
It will undoubtedly be a significant challenge for the Bitcoin community to find a way to maintain the network’s integrity and its core principles in the face of growing Wall Street influence.
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10 sats \ 0 replies \ @Bazoobtc OP 17 Aug
Relevant points through and through.
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