The terminal value of 1 BTC in an ETF is zero.
The terminal value of 1 BTC in cold storage is 1 BTC.
All derivatives of BTC are weak and fragile, and will, ergodically, all fail against true #Bitcoin.
Discussion
100% agree. Every bitcoin sold to Blackrock will be lost forever and worthless.
21m is a meme, and the reality is your bitcoin is far more scarce than you will ever realise!
https://medium.com/@TheyHODL/bitcoin-etf-hodlers-are-psychopaths-so-prove-it-4f962f49762c
Arthur Hayes says ETFs will “kill” bitcoin. I think all it will do is constrain the remaining supply, and make the circulating amount even more valuable.
🎯
It may split the supply into white and black BTC. Where what we hold is white BTC even though they try to call it black market, unhosted BTC.
Then when the dollar dies, they'll seize all the Bitcoin in these trusts and shit and rug everyone involved with them.
Hopefully account holders will wise up, lose faith, demand in kind redemption, and take self custody to prevent that from being too bad.
Just be prepared for stage two.
This is the start of the then they fight you stage not the end.
This is the equivalent of “the vaccines are free” what happens after is when we need to be ready