Replying to Avatar Hazey

ETF's have purely nefarious purposes:

1. To absorb public interest by selling bitcoin "shares"

2. To create an unlimited supply environment in which to crush the dollar value of bitcoin, like they do with gold

Prove me wrong
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TheBitcoinManual 2y ago

I agree with those concerns, I do think the idea is to capture Bitcoin the way gold has been captured, so it can't function as the measurement of debasement, but to me its a dangerous game

Bitcoin can move faster than gold, and can be easily audited, so how long can an ETF remain unbacked before it blows up?

Thats some major risk an ETF issuer would be running, I think many of these smaller ETF applicants are just looking for a free ride sucking up 2% in fees to buy Bitcoin for boomers

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Hazey 2y ago

It is a less effective assault than shitcoins.They're not going to beat an internet native money with fiat investment relics.