95% #BTC #ETF cannot to be WITHDRAWN in SELF- #CUSTODY mainnet bitcoin wallet hence it just another fiat derivative (in sea of quadrillion that remains in custody with broker/fund) mostly institutions n pension funds who cannot get hands on real BTC itself and want to ride price pump / dump goes for it. It is worst then coins kept in CEX
#plebchain #bitcoin reminder
Hey nostr:npub1te0uzs6vj29umjaxlqqct82j8q6ppyefrxq06dhr8d6pvwfatgkqjmjgwp
It is still not really transparent how the #ETF guys will host their so called physical #Bitcoin
I guess they will use the old trick of just borrowing them from all the guys having it on the exchanges and not havinv red their contract.
It is the same as with stocks. Your broaker is allowed to lend your stocks to a third party.
If this will be the case for BTC #ETF
well
how to say this
We'll have fun using this lever to perform the biggest squeeze out in history
they will fool around in press release to be pretending buying real BTC that all
those who fall in that trap remains there
most institutions CANNOT buy real BTC
it is their only choice
there is only two moneys. bitcoin and physical cash. everything else is a scam.
What you think of when you say physical cash? Precious metals?
nope, whatever they accept in the shop for payment is money if it's an immutable transaction.
ACCEPTANCE=🔑
cash = private and irreversible payment. just like bitcoin and lightning, and physical fiat tokens.
nobody accepts precious metals except pawnbrokers.
i predict that the amount of places accepting lightning will continue on the current trend and acceleration though. 2024 should see it hit mainstream recognition, and become a gimmick for tourist destinations.
You both are right.
Metals is an ancient time thing.
Meanimg money from the past.
Meaning for us it is a fall back solution if current system brakes.
Just from a perspective of someone that spend a part of his life in prefinal comunism.
