Dumbest thing Hodl has ever said and he says dumb shit all the time. nostr:note1jqd7tvguyugunawngtf9zgww26jdujfwn0fpsu0g5ef486493tps05dhvl
Discussion
Not sure who I agree with but I like the dichotomy and I'm here for it 🍿
Imagine having a store of value you couldn’t move
I think the largest threat to bitcoin is not having a free market for price discovery. The ETFs essentially turned the the gold market into a phony price. Same will happen at this rate with BTC.
BTC in an ETF is not a threat, that's why Hong Kong got approved this week after Yellen met with Xi.
If the world does not get the price signal they will be left in the dark.
I dont think many appreciate this. Centralised price discovery is the goal of Wall St, for everything. Thats why Larry Fink said "we want to tokenise everything". When you tokenise everything, you de-materialise everything and centralise everything and then it can be diluted or pledged as collateral in a fungible blob by the usury sharks. The gold price quoted on every media outlet is the nearest derivative(paper) price. Even gold bullion dealers use this price. If bitcoin loses its decentralised price discovery(some say its already lost) then we are on the road to bitcoin becoming irrelevant.
BTC in an ETF is essentially SOV you cannot move.
A greed
You know I’m right.
I really don’t.
Let’s debate this out next space we’re on.
A guess it depends if you want a SOV or a SSOV
SSOV of course
Well than MOE matters unless you just want this to sink to the lowest common denominator of having countries hoard it.
Think long term baby
I’ll grant that my original post is hyperbolic, probably should say “doesn’t matter that much”.
That said there’s not a damn thing we can do to stop countries from hoarding it and issuing cbdc’s against it other than maybe appeal to the general public. Idk hoarding by sovereigns is likely inevitable. They’ll do it to maintain power.
If we are being hyperbolic then what good is a SOV you can’t exchange?
Or exchange it without someone’s permission
SoV supports everything else. I don’t know why people need to hear this but without wealth as a foundation much of the building the community is doing stops.
Credit notes will always spontaneously arise and will be traded as currency
Always !!! Why ? Because in the supply chain, for example, manufacturers may not get paid until their goods are completed and in the meantime they need to pay wholesalers and wages. They will raise notes and this will be used as currency until their finished goods are settled for bitcoin. This has been known since before Adam Smith. These notes were called Real Bills and were settled for gold.