“Big money” coming to Bitcoin via ETFs doesn’t add any meaningful defense against a rug or covert, rehypothecation time-bomb. Knowing how to use Bitcoin in a self sovereign way is still extraordinarily valuable information and always will be. It will appear to decrease in value over the next few years, until ETFs are seized or blow up.
Discussion
This isn’t cope or jealously that I “didn’t stack hard enough.” Big money coming through these kinds of vehicles was inevitable. You’ll have to take my word for it, but I knew it for a long time and stacked what I could responsibly, without yield or counterparty risk. It is what it is.
The issue I have is that people assume that big money and Street suits are smart and never lose. They might be smart, but the system selects for Dark Triads, the worst of humanity. They’re financial terrorists who get rewarded for blowing up themselves and each other.
What are you doing here, if not to disintermediate and obsolete these perverted traits and institutions? They deserve no praise or glory. They’re murderers, pedophiles, and pathological liars. They aren’t responsible.
Yes, NGU is most, if not all of what matters. Embrace Machiavellianism if you want. Go ahead. But don’t simultaneously complain about the tiny hats, pedophiles, and genocidal maniacs at the helm. Bitcoin will end that behavior. It IS a mirror. The monetary standard and moral standard and inextricably linked.
But but that’s smart money. If smart people are doing it then it must be safe 🤡
Same. It's fuck around and find out. Most will probably never hold their own keys. It is what it is.