shitcoin season continues, we spent too much energy fighting the btc treasuries, wrong target
ETH seeing 8-10x the inflows on a much lower tot size
Discussion
History repeating all over again
Yep, we hoping we had killed eth but maybe one more cycle, I do think etfs and btc treasuries aren't the enemy
Not sure it goes away soon, but instead each cycle it gets more co-opted by larger staking institutions who pitch some random use cases and it’s just this mess of protocol.
Fully expect many of the treasury companies that aren’t well managed to cough up coins in the next bear market. Retail and the bigger treasury companies will then scoop up the corn at discount.
I don't think 90% of those companies are big enough to impact price. Rug pulls from shitcoin treasuries though could cause some wipeout like usual
They will die a sudden death, but it may take a while. It's fine. It gives us time to keep stacking.
Good. Let them get rekt.
They have to learn somehow, was going we wouldn't be dragged down this time
A Bitcoin UTXO is money, everything else is a shitcoin
right, but I'm not sure what your point is
IMO leading people who otherwise might become bitcoiners to the treasury affinity scams is worse than Eth.
Hard disagree... I don't recommend anyone go buy btc treasuries, cold storage btc is the way but eth is the affinity scale. Btc treasuries are legitimately connected to real money
- Every company should become a btc treasury company. Companies save retained earnings just like individuals.
- These btc companies are trying new things to acquire more btc and more importantly give capital pools access to real money . Will they all work? No
- Retail that buys these will convert to btcers later at some rate
- they also ultimately drove investor interest towards btc by buying it
Point being these lead people and capital to real money. Eth and other shitcoins lead away.
ETH is completely disconnected from reality. No foundation, no value, just pump and dump and it leads people and capital away from btc through rug pulls. They have given btc a bad name from the beginning.
The retail people you are talking about don’t understand that “Bitcoin” and “crypto” are different things.
Since we failed this bad in education I guess the only way to learn is massive capital loss.
I will take the cheap sats in the meantime and work on educating people I actually know and care about instead of this “greater good” of protecting the average normie retail 401k account.
Well then we can agree to disagree, and no greater good.
Companies should own and chase btc, just like individuals. The ones that do so successfully will lead the wormd
Thanks for civil argument. Yes I prefer people buy Bitcoin ETF instead of Eth…
But I don’t think we can “scam the normies into profits” like rockstar says. But who am I to disagree?
If I try again with my exclamation I would say: “education above all”
virtue signaling practice?
“i believe the thing!” 🫡
Gfy dude. I’d rather have cheap sats and wall st wrecked on Eth vs leading people to wall st paper Bitcoin and pretending it’s going to pump my bags
lol. so would everyone youre talking to 😂
youre like a guy angrily fighting himself in a closet. im just here to cheer you on. ✊
Fighting how?
Cuban said “we” had the wrong psychological target, I replied to him with an attempt to present the alternative argument in abstract.
Then you jump in making fun of me.
I’m glad we all have so much extra time to waste on a Wednesday
i only make fun of you because you are completely retarded. 🫂
Well good luck saving wall st from Eth lmao
The consensus opinion I see on nostr is to hate on the btc treasuries and the etfs. I like challenging that, if for no other reason than groupthink sucks.
I think that's aiming at the wrong target.
ETFs to me are nothing more than a method to buy btc (wall st hates them because fees are low). If we can get the ability to redeem in kind they are just a better exchange. Etf > coinbase
Btc treasuries I already wrote a book about
The consensus by leading influencers on nostr is clearly in support of etf and treasury IMO