Replying to Avatar tuma

My two sats on #Bitcoin #ETF:

The only good thing that the ETF will do for Bitcoin will be a price pump. But what will it do for Bitcoin adoption? In my opinion, nothing. ETF will not help people understanding the value proposition of Bitcoin, only to enrich them in dollar terms. Is that what we want?

Moreover, buying bitcoin though ETF will be no different than buying them on a CEX. We bitcoiners always warn about the importance of self-custody and now we are all screaming at the wonders of ETF; isn’t it hypocritical?

What do you think?

#asknostr

#nostr

#grownostr

#plebchain
Avatar
jp 2y ago

respect, but counterpoint:

I think the ETF will be good for overall adoption because it's a solid step forward into mainstream normalization of seeing BTC as a legit asset vs just weird Internet money or a tool just for criminals and terrorists.

the more the world of normies can hear about BTC framed as a financial opportunity vs a scam or a joke, the better for overall adoption.

another baby step towards the orange pill for the mainstream.

nostr:nevent1qqsplr890s7lyfydyc70j89cpdw0sp358mg85xvw8jt6c2az8gxmqscpp4mhxue69uhkummn9ekx7mqzyztyzlke6wfxxu9gsapslnusk3hmkz025jy3amymmjr7jqnxkq492qcyqqqqqqg8s4e6r

Reply to this note

Please Login to reply.

Discussion

Avatar
tuma 2y ago

Interesting take, and I do agree in part with that.

Do you think we need to have people seeing Bitcoin as a “legit asset” instead of seeing it for what it really is? Unfuckable money?