Replying to Avatar BitcoinStu

You cannot capture bitcoin by holding bitcoin, therefore it is impossible for "the government to capture bitcoin through an ETF". This is why bitcoin is proof of work, and not proof of stake.

The same cannot be said of the ETH ETF of course, that's already been captured.
Avatar
Brandon Gentile 1y ago

Correct. However BlackRock et al has the keys to the bitcoin, not the plebs. One call from the government and it’s now the governments.

Not your keys. Not your coins. 🙃

Spot on with ETH.

Reply to this note

Please Login to reply.

Discussion

Avatar
BitcoinStu 1y ago

Technically it's coinbase that has the keys, not blackrock. But yes the federal government could, in theory, confiscate it. And that doesn't even get into the possible problems with an ETF in the event of another contentious hardfork in bitcoin

Hopefully you see the substantial difference between the ETF's bitcoin being vulnerable to seizure and "controlling bitcoin" because they own a bunch of it.