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Bitcoiners that move bitcoin out of self custody into ETFs never understood Bitcoin in the first place.

“The main benefits are lost if a trusted third party is still required to prevent double-spending.” - Satoshi

I don't know so much, I try not to judge what other people do with their permissionless money.

Bitcoin changed the way I viewed & interacted with the world. I thought I was weird until I saw that it was changing others in a similar way.

My mistake was assuming that it had the same impact on everyone. I've met such a wide variety of Bitcoiners from so many different backgrounds that are at so many different places on their Bitcoin journey.

One of the most interesting questions you can ask a bitcoiner is 'what is Bitcoin to you?'

It's surprising just how diverse these answers are.

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Discussion

Tauri 2w ago

> I try not to judge what other people do with their permissionless money.

Bitcoin ETFs are not permissionless money. Like all wrappers they are just a claim to ownership, not the real thing. This is not an opinion, it’s a fact. Which is precisely what the quote from Satoshi implies - main benefits are lost if third parties are put back into the equation.

Brisket 2w ago

Value is subjective

monarx 2w ago

Try using marshmallows to build your house Timmy.

Value is not purely subjective. It requires an object that can objectively fulfil the goal.

You can have your cardboard in the desert, I’ll have my bottle of water.

Tauri 2w ago

Reality is objective

Brisket 2w ago

#few