So where does that leave us when one of the ETFs eventually gets rugged by its custodian?
Discussion
This is 100% going to happen. These fuckers are allergic to being honest. I expect something like blackrock supporting a hard fork so they can claim the esg pos fork is the ETF Bitcoin while they keep the real Bitcoin for themselves.
If Blackrock etf is actually accepted they have unilateral decision making powers as to which fork is the reference chain for pricing. In the general public eye and with a major assist from msm fin-news media outlets, its likely whatever chain they choose will be regarded as the "real" bitcoin.
Doesn't change the fact that bitcoin is bitcoin and consensus & game theory will ultimately rule all eventually, but in the meantime it'll open the door for some major major fuckery.
Absolutely false. Miners and nodes decide that not a company.
I think he meant for pricing of their ETF shares.
The amount of demand for Bitcoin cash and bsv is laughable. If they want to push fake Bitcoin they will be completely crushed by their competition. There isn’t going to just be 1 ETF it will be manyz
I'm not saying they will succeed in the long term. It's all clown world bullshit manipulation. Ultimately game theory and true market forces will prevail. But that takes time.
In the meantime, fuckers will fuck around.
They will still have the real Bitcoin. Ultimate rug with no recompense.
Correct. I'm talking about reference pricing for the ETF.
Real bitcoin will always be real bitcoin based off consensus and the price will always be what a willing buyer and seller choose to echange.
But the price of the paper bitcoin is indirectly determined by the fund who can choose the reference chain.
Msm and others will pick this up without nuance and I guarantee we will see news articles saying something like "Blackrock determines ESGbitcoin to be the real bitcoin"
Who cares if that does happen. Again they have fidelity and Valkerie and all these other companies that are going to sell real Bitcoin in an ETF. That would be a total failure on their part
It matters insomuch as public perception and worldwide adoption of bitcoin matter. If we are striving towards a bitcoin standard, it matters a lot.
To me personally and most bitcoiners with true conviction and low time preference, it won't matter in the long run. Like I say, game theory will win out. But it does matter in the short term and to the general public.
The existing tradfi exchanges and msm control much of public perception. If they push normies to try and believe anything but consensus bitcoin is bitcoin, that will absolutely damage some of the progress bitcoin has made to date when it all eventually falls apart or some scandal/rugging strikes.
110% 😂 They WILL play paper Bitcoin games. They can't help themselves.