What is #Bitcoin?
Discussion
nice 🫡
I agree with all of this.
Yet only if we value 1 #bitcoin as 1 #BTC
So what I’m noticing with the uprising of the BTC ETFs and ETCs is a few corporate companies, banks really disguised as investment funds, are acquiring the bitcoin which since they currently own the majority of the BTC, they have the ability to manipulate price value in fiat.
Therefore because the majority of people still think of Bitcoin as a store of value and not a currency to be spent (transact with) it is essentially being monopolized, centralized, and surveilled.
At least that 👆is what’s being attempted…
Your thoughts? Im curious what you are observing and if it’s similar?
PS I don’t do ETFs, I self custody only.
I don't think anyone is manipulating the price of bitcoin. The only way to really do that would be to rehypothecate it and you see how that worked for SBF.
Naked shorting the most bullish asset in human history is a great way to get rekt. Because bitcoin is both absolutely scarce and the amount is known, it's only a matter of time until everyone who tries to rehypothecate it becomes insolvent.
These fund managers like blackrock are much too smart for that. Good way to bankrupt blackrock and go to prison.
Remember that it's major investors who buy those ETFs. Look at Madoff for an example of what happens when you mess with those guy's money... you die in prison
Well stated!
The only financial instruments that could manipulate the price, are "paper Bitcoins", products like Bitcoin zertificates, derivates, ETC's or options. But the Bitcoin demand will always be higher as the availability couse the supply is fixed, i don't see a real danger for Bitcoin.
Totally.
Long term no issue.
Short term, fiat value price fluctuation is driven by the paper substitutes of Bitcoin as you say.
At some stage, the tipping point will be reached and the paper bitcoiners won’t be able to manipulate even the fiat value of BTC and certainly not the value of Bitcoin itself over time.
#Softwar is real!
(Have you read the Softwar book by Major Jason Lowery?)
No i didn't, but i know it and i will read/hear it, now i hear Tower or Basel - Adam LeBor.