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Ehn.. this article is kinda click baity.
LTHs are wallets hodling a given amount of BTC for at least 155 days, and correspond to the less speculative end of the Bitcoin investor spectrum.
If long term is less than half a year than that includes a large group who bought in this cycle.
True. I don't follow this stuff much, but I think I saw headlines that old wallets were making moves. Regardless, any transfer of bitcoin from actual holders to ETFs is a negative IMO.
Agreed. Self custody is the only way.
Lyn Alden recently went on Stephan Livera's podcast and explained how people who have self costody have disproportionately more power in consensus matters like forks than the ETF fund managers. There's nuance, but my takeaway was that the legal implications of holding on behalf of their investors complicates and slows their decision making, which is disadvantagous in fork scenarios. Haven't lived through this myself, so not 100% on how it works when theres a protocol change. Recommended listening -- a definite eye opener on 'governance' in the Bitcoin network.
Yes, I have seen clips of this episode and I want to watch the whole thing. As a practical matter, running your own node will definitely give you an advantage, as was demonstrated during the blocksize war. I was just getting started then so I am not fully versed either, but the book is excellent, in case you haven't read it yet:
https://www.amazon.com/Blocksize-War-controls-Bitcoins-protocol/dp/B08YQMC2WM
Thank for the recommendation. I'll definitely check it out.
Pretty good review over in BooksAndArticles where I see it got Darth's seal of approval. Impressive.
The trend can reverse in a bear market
Articles like this show that as bitcoin nears fiat $100k long term holders are selling, and ETFs are scooping up the bitcoin. It's not anyone's business what you do with your own bitcoin, but it's a disturbing trend.
https://cointelegraph.com/news/bitcoin-diamond-hand-sell-off-risks-etf-inflows-98k