Has anyone been following the etf thing closely?
BITB seems to be best choice: on chain transparency and lowest non-intro fee. Am I missing anything from a retail perspective?
Discussion
ETF is no good. It's a rug-pull in the future.
Agree it is a future rug pull. But it’s good in the sense you get an instant 38% return on your retirement investment…you see, for tax sheltered retirement accounts, you don’t pay tax on what you allowed to shelter. It’s roughly $25,000 for someone my age…so it’s not like it’s a ton of tax free money.
Self custody is the only way, imho, for amounts above the tax free limit.
Why people decide this is how the asset should be used to leverage other assets just blows my mind.
It's just, so dumb. It literally is the hardest thing around and this is what those bloodsuckers came up with, instead of literal native usage where all of that transparency is built right into the protocol. So dumb.
It’s about favorable tax treatment. For those with tax sheltered retirement accounts, they are forbidden by law from having custody of the investment itself. If you forgo the tax break, then self custody is the only way that makes sense. But it’s hard to turn up one’s nose at 38% off.
Yeah man, heard.
And once The State decides you no longer deserve to receive the profit realized, that 38% 'tax break' won't matter anyway.
They /do/ want access to all retirement vehicles simply because it's guaranteed monies. Anyone who speaks of The State administering that is unequivocally, 100% my enemy, and they need to have some Act Right installed directly to the side of their head with a baseball bat.
It should be telling that they gotta bribe people like me with a 38% tax break to get me into their indirect/beneficial ownership system (which guarantees fewer property rights than unqualified ownership).
In short, people who own stocks, bonds, and gold etf as well as bitcoin etf shares don’t actually own them. See https://youtu.be/1GHXe0PbNG4?si=swHkNrQhejoBQpbN
Yup. If it's not tangible or only stored in your head you don't really own shit.
Amen and amen. The uniform commercial code and federal code have been cleverly rewritten to solve what is fundamentally a record keeping issue: too many securities trades to manage with paper certificates. Too complex for standard databases. Ownership has been replaced by a chain of liabilities with limits on how much liability any counterparty can accept as a function of its assets.
We’ve replaced ownership with musical chairs. And corporations have designed laws to make sure they will never not have a chair. This is not capitalism. This is fraud, which marxists argue is the inevitable end stage of capitalism. Instead of fighting crime, though, marxists insist on authoritarianism to remove all capitalistic elements from society. Which is as bad as fraud.