Oddbean new post about login | logout They settle in cash.
It doesn't matter what form of bullshit they settle in. The existence of Bitcoin is going to make these types of a games a lot more dangerous when someone calls bullshit like in 2008.
They literally never settle in btc. They can't be blown up they delete ure position. See london metals exchange, gamestop, etc. The etfs exist to control.
They do not delete anything for me. That's my entire point.
They can't delete my actual Bitcoin in cold storage like they can dilute fiat or gold with paper. Taking self-custody of Bitcoin is easy now. Gold isn't. Paper games aren't going to last as long with Bitcoin. Calling bullshit is just too easy and companies like Coinbase will get killed
Someone will eventually abuse the IOUs and bullshit will be called. They can't just print the Bitcoin for a bailout when that happens. Someone will have to actually die, which is the way markets are supposed to work. Printing fiat won't help either.
Someone will eventually get screwed by IOUs. They always do. We have a way of protecting ourselves, even if price is temporarily affected.
I hope so fren. I hope sooner rather than later tho :]
Me too. More people get hurt the longer this sort of shit goes on. I think we will eventually see decentralized exchanges setting rates. It's kind of ridiculous that we have centralized shitcoin mills with this much power. But again, people who hold Bitcoin in custody can call bullshit a lot easier than in the past. "Show us your Bitcoin."