Trust Me, Bro
https://allenfarrington.medium.com/trust-me-bro-fb5a25964634
Discussion
"What will not lead to mass adoption is bullshit pseudo-ETFs that pave the way for Bitcoin Uncle Sam’s Vision. And what will actively harm mass adoption is financially illiterate Bitcoiners cheering on the SEC and simping for BlackRock."
If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry
Hey. The way I see is that #Bitcoin is the most valuable thing ever invented.
So, for it was inevitable that the tradfi will at some point get into the game.
Blackrock ETF application confirms my thinking that's why I feel good about it.
Could you explain can there be a path to Hypetbitcoination that does not go through an ETF milestone? I cannot imagine.
Very curious to hear about what path you think is possible/good?
long version is in the piece. short version would be to look into OnRamp - they are doing the same idea in a far more appropriate way.
That was not my question.
Can you imagine a path that greedy tradfi do not speculate on the thing which is the most valuable thing ever invented by humans.
#Bitcoin has to be able to withstand any attack that is imaginable.
Great take as always.
Cant wait to make you read more obscure laws when i launch my seed oil trust/ etf/ futures?
Well done. I learned a lot from this, thank you.
I like to think about buying bitcoin that you cannot redeem like buying a gun that you cannot bring home...
Totally missing the point of this asset.
There's no way BlackRock finished reading "Bitcoin is Venice"đź«Ł
Great piece, been dying for some adversarial thinking for 48 hours. qq can a 33 rehypothecate?
Please read every line of this fantastic post because if you’re not paying attention you probably should be. Imo this is not a tail risk scenario. For some additional background, Larry Fink started out as an OG Wall Street big swinging dick. In the mid 80s, however, he lost First Boston enough to almost bankrupt them. He apparently then chose to “reform” and do good in the world. Blackrock went on become the behemoth it is in global asset management. Fink set himself up to become essential to all those in power in DC. Less well known is Blackrock’s Aladdin platform which powers its own back end and is sold as a full solution to many of the world’s asset managers. He is in control of a huge slice of the world’s financial investments (with an ESG agenda), the technology that runs them and has many many friends in politics. It is easy to imagine that he would see Bitcoin as a threat. This latest news is a great way to gain some control over this threat:
- he has the clout to get it approved
- the instructional credibility to get money coming in
- once it has accumulated sufficient AUM, the hardfork to “sustainable” and, perhaps, inflatable, Bitcoin, becomes a viable option. After all, it is already widely held…
- true Bitcoin is marginalised
- welcome to the future global reserve currency/CBDC
- enough money spent to finance the re-election of Democrats in 2024 and he holds all the cards
https://en.m.wikipedia.org/wiki/Larry_Fink
https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock)
Please read every line of this fantastic post because if you’re not paying attention you probably should be. Imo this is not a tail risk scenario. For some additional background, Larry Fink started out as an OG Wall Street big swinging dick. In the mid 80s, however, he lost First Boston enough to almost bankrupt them. He apparently then chose to “reform” and do good in the world. Blackrock went on become the behemoth it is in global asset management. Fink set himself up to become essential to all those in power in DC. Less well known is Blackrock’s Aladdin platform which powers its own back end and is sold as a full solution to many of the world’s asset managers. He is in control of a huge slice of the world’s financial investments (with an ESG agenda), the technology that runs them and has many many friends in politics. It is easy to imagine that he would see Bitcoin as a threat. This latest news is a great way to gain some control over this threat:
- he has the clout to get it approved
- the instructional credibility to get money coming in
- once it has accumulated sufficient AUM, the hardfork to “sustainable” and, perhaps, inflatable, Bitcoin, becomes a viable option. After all, it is already widely held…
- true Bitcoin is marginalised
- welcome to the future global reserve currency/CBDC
- enough money spent to finance the re-election of Democrats in 2024 and he holds all the cards
https://en.m.wikipedia.org/wiki/Larry_Fink
https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock)
Please read every line of this fantastic post because if you’re not paying attention you probably should be. Imo this is not a tail risk scenario. For some additional background, Larry Fink started out as an OG Wall Street big swinging dick. In the mid 80s, however, he lost First Boston enough to almost bankrupt them. He apparently then chose to “reform” and do good in the world. Blackrock went on become the behemoth it is in global asset management. Fink set himself up to become essential to all those in power in DC. Less well known is Blackrock’s Aladdin platform which powers its own back end and is sold as a full solution to many of the world’s asset managers. He is in control of a huge slice of the world’s financial investments (with an ESG agenda), the technology that runs them and has many many friends in politics. It is easy to imagine that he would see Bitcoin as a threat. This latest news is a great way to gain some control over this threat:
- he has the clout to get it approved
- the instructional credibility to get money coming in
- once it has accumulated sufficient AUM, the hardfork to “sustainable” and, perhaps, inflatable, Bitcoin, becomes a viable option. After all, it is already widely held…
- true Bitcoin is marginalised
- welcome to the future global reserve currency/CBDC
- enough money spent to finance the re-election of Democrats in 2024 and he holds all the cards
https://en.m.wikipedia.org/wiki/Larry_Fink
https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock)
Please read every line of this fantastic post because if you’re not paying attention you probably should be. Imo this is not a tail risk scenario. For some additional background, Larry Fink started out as an OG Wall Street big swinging dick. In the mid 80s, however, he lost First Boston enough to almost bankrupt them. He apparently then chose to “reform” and do good in the world. Blackrock went on become the behemoth it is in global asset management. Fink set himself up to become essential to all those in power in DC. Less well known is Blackrock’s Aladdin platform which powers its own back end and is sold as a full solution to many of the world’s asset managers. He is in control of a huge slice of the world’s financial investments (with an ESG agenda), the technology that runs them and has many many friends in politics. It is easy to imagine that he would see Bitcoin as a threat. This latest news is a great way to gain some control over this threat:
- he has the clout to get it approved
- the instructional credibility to get money coming in
- once it has accumulated sufficient AUM, the hardfork to “sustainable” and, perhaps, inflatable, Bitcoin, becomes a viable option. After all, it is already widely held…
- true Bitcoin is marginalised
- welcome to the future global reserve currency/CBDC
- enough money spent to finance the re-election of Democrats in 2024 and he holds all the cards
https://en.m.wikipedia.org/wiki/Larry_Fink
https://en.m.wikipedia.org/wiki/Aladdin_(BlackRock)
Well
Thanks for ruining my morning.
This is definitely a nation-state sponsored attack on BTC. The question is... do other nations play?
TRUST!
Hey Allen, struggling with what you precisely mean here when you say "physical" redemption. What would physical redemption look like in a Bitcoin ETF/Trust?
Simply a request to send Bitcoin in equivalent value to my shares to my wallet on chain?
well you as an individual wouldn’t have that option anyway. the authorised participants could (allegedly) redeem ETF shares for bitcoin of equal value, but “physical” means BlackRock would have to provide it onchain (although I suppose an exchange balance might count) rather than in some other form of IOU.
Coins not yet in it (“precoins,” if you will) will be suspect, but capable of salvation. Coins that have ever left this safe space (“nocoins”) will be blacklisted. Why are you trying to move your coins, anon? What are you, a money launderer or something? What’s wrong with our IOUs?