If Bitcoin is an expensive rock that nobody can afford to move, and we are stuck on custodial lightning wallets while the government tracks every sat we spend, then Bitcoin has lost its primary value proposition and deserves to die.
If there is a softfork and it offers to scale Bitcoin and give us privacy, but I see NGU on another fork that BlackRock wants, then I’m choosing freedom over NGU.
Someone will still be able to move them, that’s the beautiful thing. Free markets work.
As soon as BlackRock takes their (hard) forked btc-derivative shitcoin business elsewhere, the mempools will clean up and bitcoiners with a long time horizon will benefit from the credibility afforded by the ETFs. NGU over time.
Everything is good for bitcoin as long as NGU structurally (at least some) every halving cycle.
There will be an ETF rug …what that looks like and who is the perpetrator, who knows. But there always are bad actors and there always are wipeouts and this wipeout will go from $500k to $100k…those who are convicted will benefit from the opportunity to stack at $100k when the fair market price of bitcoin is $10M+ (current USD purchasing power)/btc
