There will always be ways to buy Bitcoin, you don’t need banks for that.
Shit, someone could do some light market making on Damus at this point
Discussion
Be my guest.
I think Mike’s comment were in regards to the liquidity needed to settle large institutional/exchange related trades.
Well, that certainly isn’t ideal, but wouldn’t that just make Bitcoin very expensive and hard to get for large players?
Those institutional trades are powering consumer trading. This could seriously impact Bitcoin's liquidity premium and drive the price down if alternatives are not quickly developed.
The price action of Bitcoin will most likely fall sometime soon for the short term, but I believe it will recover quickly. The current climate will most likely spook those who were on the fence to gain some exposure to Bitcoin, and the market will adapt.
I agree with you though in the short term time horizon.
Didn't Blackrock, Fidelity and a few other big names deploy institutional bitcoin platforms though?
For better or worse
No, he’s correct. If your desire is mass bitcoin adoption, we need existing financial institutions to help facilitate that, especially for institutional buyers.
Or if you want bitcoin to remain niche, then sure, market make on Damus.
My desire is simply to have more Bitcoin.
I see where you all are coming from though.