Nostr Web Client

Enriching people in dollar terms will lead to selling for dollars, which means wider distribution.

It's the same as with previous cycles, but with a larger market cap. New entrants are going to sell while in profit thinking they are geniuses, but some will hodl and learn and become the latest wave of bitcoiners.

tuma 2y ago

Ok this may be true. But who will they be selling to? Blackrock and so on will hold their bitcoin and will keep them after people sell their shares probably? Is this the “redistribution” you are aiming at?

Reply to this note

Please Login to reply.

Discussion

Entropy 2y ago

I think it depends on how the powers that be try to close access off to regular people

If exchanges are allowed to continue to operate little fishes will continue to buy real Bitcoin. Blackrock and their ilk will also be buying, but it won't be just them.

My only point is that I think 99% of bitcoiners do in fact have a price at which they are willing to part with at least some of their stack. That will end up in the hands of other plebs, newcomers, Blackrock, and any anyone else willing to buy at the spot price and self custody.

I do agree that Blackrock will eventually rehpothecate. And they'll get blown out as a result.