Subnostr

#Coinbase is the vehicle that will be used by #Blackrock &co to fund their #EFT business.

Means they will just lend the #BTC from Coinbase to,sell eft's.

The conclusion is that in the end we will not see a bear market due to the eft's showing up. But same time they are risking a squeze out when people start to take their BTC off the exchange for self custody.

At least this could be a possible szenario.

Mateusz

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Hazey 2y ago

ETF's have purely nefarious purposes:

1. To absorb public interest by selling bitcoin "shares"

2. To create an unlimited supply environment in which to crush the dollar value of bitcoin, like they do with gold

Prove me wrong

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Discussion

TheBitcoinManual 2y ago

I agree with those concerns, I do think the idea is to capture Bitcoin the way gold has been captured, so it can't function as the measurement of debasement, but to me its a dangerous game

Bitcoin can move faster than gold, and can be easily audited, so how long can an ETF remain unbacked before it blows up?

Thats some major risk an ETF issuer would be running, I think many of these smaller ETF applicants are just looking for a free ride sucking up 2% in fees to buy Bitcoin for boomers

Hazey 2y ago

It is a less effective assault than shitcoins.They're not going to beat an internet native money with fiat investment relics.