Subnostr

I don’t disagree with supporting Bitcoin, I stack sats like everyone else, however I think diversification is also important, and until the majority of the economy itself shifts to Bitcoin, there will be a place for substantial fiat holdings. Cash is still relevant, investments are still relevant, if you want to ghost something, leave banks and credit cards behind.

TheGrinder 2y ago

You're of course entitled to your opinion or your own investment strategy and I agree, diverse holdings aren't a bad idea. But, might as well buy the real thing and diversify into other commodities like gold or silver for example.

Why would you give your money to an institution so that they can buy that BTC with your money and pay you a dividend, or not. Depending if you're betting on the right side of their ETF. Even if you do, half of the people will lose their money, the other half gets paid and the ETF issuer wins.

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Discussion

Jac 2y ago

I think while gold and silver are decent securities, they are prone to volatility, and completely dysfunctional as currency. I pay for institutional money management because our financial system is corrupt and only the biggest players can navigate those treacherous waters. Granted they give their investors a pittance, and only what they must to avoid unrest and revolt; Bitcoin is the weapon of the people against the tyranny of Blackrock. One must be mindful that currently Blackrock essentially creates the world we interact with financially. As much as I would like to see a purely agorist financial system based on P2P, the establishment will not be marginalized without a struggle, and it holds vast control over people. Bitcoin may rise like a Phoenix eventually, but only from the ashes of our immolated current system. The baby step down the path is, get your transactions off of the ledgers, take your fiat out of the banks.