If most of the money of the last 30 years has been made through financialization of assets in a system that manipulates money that steals from you, then it must mean that those at the top of that game are the very best at it.
Probably completely unrelated - I heard a rumour that Jamie Dimon and a bunch of others like #Bitcoin now.
It would be wise to understand
Pressed send before finishing….. the high likelyhood of the greater game.
It’s pretty safe to assume they will try to control or corrupt Bitcoin if possible, and if this is not achievable, perhaps they’ve just worked out the game theory that the can’t stop it and if they don’t get onboard they’ll lose and the longer they leave it the worse position they will be in. The centralisation of corporate miners if an attack vector that is worrisome.
game theory in real time
Willy Woo spoke about this recently.
The increasing financialization of BTC.
Went into detail of how this will play put and impact the M2 and M3... and the "price" of BTC.
Interesting stuff.
What do you mean by “the greater game”?
If measuring price of #Bitcoin going up in USD, and spending in USD, the 2nd layer is USD or stablecoins pegged to it.
Ie - by only focusing on store of value and thinking it’s going up (their money is going down) the 2nd layer centralizes and paper bitcoin will be used to keep existing power structure. Massive incentives here including many #Bitcoiners cheering price go up/don’t spend your bitcoin playing into that consolidation.
Existing system requires inflation to remain solvent.
Bitcoin system forces productivity gains to all of society through the free market.
If you knew you that it was too late to stop layer 1, + layer 2 was emerging (native to Bitcoin) and then calculated that unless stopped, Bitcoin would be on path to be medium of exchange that would remove your ability to finance your control structure….what would you do?
IMO - It either becomes a medium of exchange (and market/political incentives are misaligned here) or ceases to be a good store of value. (Over the long term)
I went deep on this topic on an upcoming podcast that Saif is releasing.
Medium of exchange or bust?
Plebs front ran. Now bc of the finite supply they can pump, once their bags are full….to heights only few ever imagined
Dunno, revisiting stock-to-flow model... Perhaps it didn't take into account that pleb-hodler stock practically "doesn't count" because black rock etc shenanigans
That's kinda where I'm at. There's no value for them in taking this to the moon. They create and control monopolies and they do so by being the first in line at the printing press.
They have enough money. It's not about the money. They have no interest in allowing potential competitors into the market by simply "hodling". Makes more sense for them to shut it down. Suppress price.
As long as it's paper and they don't have to move the underlying asset, they can trade it asuch and as often among themselves. It's just a handful of corporations playing ping pong with the price. They can volley it up, they can volley it down. Makes no difference to them.
Hope I'm wrong. I'm still stackin.
#Bitcoin is really going to be mainstream after those fellas get onboard
The question is: is the mainstream-ness of #Bitcoin going to increase its circulation? Or will everyone be sitting on piles of sats thinking about only appreciation in fiat terms?
I'm convinced it means the same thing it means for gold. The ETF's convert Bitcoin to paper Bitcoin. Then we're back to the same old antics.
They're in it because the ETF's are selling. As long as they have custody of the Bitcoin, they can short sell the hell out of it and manipulate price with futures and options.
Their adoption creates control of the price trends as long as we're priced in dollars.
That's my fears too....I am farly new to it, but it just seems they are already controlling the price of it, which makes it harder to use it instead of just hodling it for someone who doesn't have much due to the fiat price being so high, and trying to save it for future generations.
I do agree with you but I also think it’s a game that they can only play for so long.
Let’s consider a large player shorting the ETF via borrowed shares. The depressed price of the ETF triggers market makers to convert shares to BTC to sell for cash to buy shares to bring NAV to equilibrium. As we’ve seen with GME, there is no accountability and the players never seem to have to close their short positions.
Where BTC differs from stocks is that at some point, the liquid supply will disappear and no CEO can issue more shares. With respect to gold, it is basically impossible for an audit of the system nor feasible to take custody at the largest scales.
I think there will be a time in the future where these players realize their time is up and flip to stacking BTC and letting it run.
Ultimately, firms like Blackrock make money on fees and if the assets they are managing don’t go up, money will leave and fees will dry up. It is in their best interest for BTC to increase in value so investors stay put.
Control of all money is the game and yes, they are the best at it.
Nostr is therefore potentially more important than bitcoin in the long term as a means of communication which cannot be controlled to the same extent as money.
Institutions/oligarchs publicly going for a 1-5% allocation isn’t “dipping their toes in” but instead guessing how to appear to not be in a full blown panic when in reality they are indeed in a full blown panic 🤙
Bingo
All roads lead to bitcoin.
We need a commodity backed currency like... ASAP.
It seems so early for this, but are we at the “Then they print money to buy Bitcoin” phase of things with Fink and Dimon appointments?Also, if this is the case, wouldn’t it behoove Trump NOT to mention Bitcoin as strategic reserve until he’s in office, and they’re already way down the road so as not to tip off China, Russia, others?
Jeff- am I off here:
You wouldn’t do a gold standard type play with #Bitcoin even knowing the dollar is doomed to continued debasement. You would use #BTC as a “strategic asset”, continue printing money and use portions of that money to buy more and more #BTC . The fiat inflationary spiral is offset by upward #BTC vs fiat price spiral which sacrifices citizens who weren’t paying attention to the inflation. Over a long time, the fiat becomes less and less “important” and transactions are made in #BTC . Default to #Bitcoin Standard.
BTC has now already woven itself into the system. All these institutions and rockstar CEOs saying they like BTC and changed their mind about it is the proof: BTC here to stay.
Also I am wondering if the CEOs did not play a bit of good old front running and bought BTC which they sold at a profit to the institutions they control.
Food for thought!
