Nostr Web Client

Today — BlackRock can be viewed as an extension of the US government (however, the opposite can be equally stated). It's safe to say that these entities demand control and with Bitcoin this is no exception.

This makes me believe that the recent Bitcoin ETF delay may stem from a misunderstanding about the technology. When Larry Fink et al. announced the ETF application, I suspect they were been under the belief (as is their nature) that something could be propagated from this instrument that would put them in control of Bitcoin.

As you know, this is impossible and after further consultation it's likely they came to the same conclusion; leaving the blob scrambling for a solution. The obvious choice would be to kill the ETF, but recent court decisions and the inherent fragility of the investment elite won't allow for this.

It's difficult to say what happens next, certainly further delays, perhaps some drama via the recent capture of Binance. Regardless, the establishment will continue to flail petulantly.

What are your thoughts?

Reply to this note

Please Login to reply.

Discussion

10Luno 2y ago

#Blackrock et al has 0 interest in #Bitcoin. It's all a game to FOMO Bitcoiners and rug them. How? Price oracles: the price we see in html css and javascript is not the price paid on-chain. Bitcoin maxis can't mentally handle that -- nor physical access by a malicious actor to their precious seedphrase -- so they hide in brainless cult slogans.

Colin Sullivan 2y ago

"html css and javascript is not the price paid on-chain" is this a reference to otc vs. exchange purchases?

Why can't Bitcoin maximalists handle this?

10Luno 2y ago

The reference is to the price we see on exchanges when we go to buy BTC (price oracles). Maxis can't handle it because they just ignore the fact without providing a rebuttal (same to physical access by a burglar, bent cop or soon-to-be-ex-wife to their seedphrase).

Question: is the price we see in fiat the price last paid on-chain?

JoeCoffey 2y ago

Is there another delay past the Jan 8/10 date?

Colin Sullivan 2y ago

I think so, but I can't back that up.

JoeCoffey 2y ago

Check out Marty's pod with Fred Kruegar re the etfs. Interesting perspective and massively bullish. Etfs are all about the fees.

GHOST 2y ago

I think it is naive to assume that they don’t understand bitcoin. I am sure that they have had a team of nerds studying bitcoin for over a year. The ETF will be a black hole where mom and pop investors buy bitcoin for Blackrock and happily get cash back at a later date but the bitcoin never leaves Blackrocks accounts. They will leverage it, borrow against it, issue derivatives for it but they will just soak it up and never let it go.

Colin Sullivan 2y ago

I take exception to the nativity comment.

Army of nerds < 1 Bitcoin pleb.

I've never met anyone outside the space who's even close to understanding Bitcoin. They'd likely have to go well outside their normal circles find one and few good ones would agree to consult.

The only thing that keeps Bitcoin under $1M is information asymmetry. Presuming the elite are some kind omniscient force is a trap, they are demonstrably fucking up all the time.