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19 sats \ 1 reply \ @028559d218 7 Apr \ parent \ on: MONEY CLASS OF THE DAY: We Were Wrong—It's Over econ
I think bitcoin isn't going 'up', simply because of the limited knowledge about it.
It is associated with 'crypto' basically beanie babies, rather than gold or risk-off assets.
The vast majority of the people buying the ETFs I would wager have no idea how Bitcoin works, have never made a transaction, or even 'looked' at the mempool in any way to understand the energy preserved in Bitcoin when you custody it.
If people have never 'used' it, how can they understand it? At least exchanges give you 'option' of withdrawal, an etf doesn't even provide that. It doesn't say you're buying 'sats' but shares... of the Bitcoin that they hold.
How many prospective etf-buyers even 'know' what a Sat is?
Yes ETF buyers are missing out on the core value of Bitcoin- self custody, direct control and the ability to make censorship resistant P2P payments free of intermediaries.
The ETF operators are playing on peoples ignorance to capture and control a large slice of the Bitcoin protocols custody and liquidity- I believe they are doing this deliberately and with ill intent...to obstruct Bitcoin liquidity and prevent/limit it posing a growing threat to fiat MoE hegemony.
Hopefully as fiat is increasingly failing more people learn the true power and freedom Bitcoin can enable.
Just hope enough people value freedom over being farmed by rentseeking power grabbing fiat bankers and their lobby captured politicians.
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