Replying to Avatar tuma

My two sats on #Bitcoin #ETF:

The only good thing that the ETF will do for Bitcoin will be a price pump. But what will it do for Bitcoin adoption? In my opinion, nothing. ETF will not help people understanding the value proposition of Bitcoin, only to enrich them in dollar terms. Is that what we want?

Moreover, buying bitcoin though ETF will be no different than buying them on a CEX. We bitcoiners always warn about the importance of self-custody and now we are all screaming at the wonders of ETF; isn’t it hypocritical?

What do you think?

#asknostr

#nostr

#grownostr

#plebchain
Avatar
bevo 2y ago

All we can hope is it brings more people to Bitcoin that don’t already hold it. They will inevitably learn they must self custody. So I see it as a net positive Altho there will be pain for people along the way.

Reply to this note

Please Login to reply.

Discussion

Avatar
tuma 2y ago

No, that’s the point imo. They won’t have to learn self-custody because it would be just a mean to earn more dollars for those people.

We need more people that are educated by bitcoiners on the values of Bitcoin, not random people coming in for easy money.