Oddbean

Anyone who thought that it was priced in two months ago should check-in with me. I will sponsor them a pair of prescription glasses (priced in Bitcoin). They obviously can’t see clearly. 🤷🏾‍♂️

WE ARE STILL EARLY. MUCH MORE MONEY TO COME TO #BITCOIN. nostr:nevent1qqsfgu3lke8naw7ecrxdlzq3y8mupxv3kzrgfrxdpqhh9phr95894pgpzpmhxue69uhkummnw3ezuamfdejsygqyey2a4mlw8qchlfe5g39vacus4qnflevppv3yre0xm56rm7lveypsgqqqqqqs68xzc8

The ETFs take away the govt’s ability to use financial repression to deal with the debt spiral. As Americans continue to pile into the ETFs will the govt raise taxes? Seems politically difficult. Do a 6102 on the ETFs? 🤔 Whatever happens, going to be interesting to watch.

Strange game. The only losing move is not to play. Everyone who plays the game, wins. But the earlier you start, the more you win. Nobody has to lose for you to win. You just have to keep playing. People can start playing anytime they want. https://m.primal.net/HjXE.png

It’s not just that… lots of folks largest account is their IRA which generally don’t allow holding BTC directly. Yes they want the exposure- they might also even WANT to hold their own keys, but the barrier is not just responsibility… it’s the huge procedural headache and the TIME is takes to get your IRA funds to someone like Unchained and set up a multi-sig vault. I’m going through it right now… meanwhile the price is rocketing. Luckily, I’m hedging price movement during the transfer with the remainder of my account (which I can actually easily do using these p.o.s. ETFs)- but most people cannot or will not think to do that. From start to finish it takes WEEKS to move these funds with all the bullshit forms and 2+ business day admin steps. Meanwhile, in a couple of clicks or a phone call they can buy the ETF. The level of commitment it takes to not just say “fuck it” requires someone to be truly, deeply, and ideologically orange pilled. This is not most people. IRAs are a huge market… people check into these accounts very infrequently… the ETFs got approved basically yesterday in the grand scheme of things… we’re only getting started with boomer allocations- most will hear about the new all time high this week and make note to make the initial exploratory call to their broker, then set up a meeting when it’s convenient for them… slow and methodical like turning a fucking oil tanker… and yet they will turn The flow has only just begun. Buckle the fuck up.

If institutions fall you’ll want your keys amidst the chaos instead of these puppet representations. Understandable if it’s not your biggest holding- or a significant one… depends what stage of life and/or situation, I guess might not be worth the hassle for you.

Weeks is a short timeframe to move fiat, and an excellent opportunitiy to study and reinforce your choice in the meantime. This phenomenon is like mass literacy; it'll take decades & folks over 50 in 2024 will typically never truly grok what's happening today. The kids who are 10 years old today...they're going to be the ushers of "mass adoption" Whether someone figured this out in the runup to $12 or the runup to 1k or the runup to 20k or the runup to 69k or today...or 4 more cycles from now... something tells me in ~2045, most economic actors will be acutely aware of bitcoin. But, 20 more years is a long time to propagandize a generation against it, and the psychological manipulators capable of that are literal professionals with access to many dimensions of social warfare, and with a far lower time preference than most bitcoiners 🤷‍♂️😔

Remember, when Blackrock had 6.15 in their #Bitcoin Treasury 😂🤣 nostr:nevent1qqsfgu3lke8naw7ecrxdlzq3y8mupxv3kzrgfrxdpqhh9phr95894pgpz3mhxue69uhhyetvv9ujumn0wd68ytnzvupzqpxfzhdwlm3cx9l6wdzyft8w8y9gy607tqgtyfq7tekaxs7lhmxfqvzqqqqqqytjyeez

IF THE BANKS SEE THAT #BITCOIN IS THE NEW GOLD THEN YOU SHOULD TOO nostr:nevent1qqsfgu3lke8naw7ecrxdlzq3y8mupxv3kzrgfrxdpqhh9phr95894pgpvemhxue69uhkv6tvw3jhytnwdaehgu3wwa5kuef0dec82c33xashymtywejhz7f5xf6ksat4w4mk5ce4d5exgem2ddarwaphv4cxwanhwp6kxcm3wuux5atnd5ux6vr8x3ekuwpkdcehx0mzwfhkzerrv9ehg0t5wf6k2q3qqny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysxpqqqqqqzjmkkcp

Peter Schiff in disbelief 😂 nostr:nevent1qqsfgu3lke8naw7ecrxdlzq3y8mupxv3kzrgfrxdpqhh9phr95894pgpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygqyey2a4mlw8qchlfe5g39vacus4qnflevppv3yre0xm56rm7lveypsgqqqqqqs8nagxv

You can buy bitcoin the asset on Choice by Kingdom Trust and probably Fidelity too and have Fidelity custody it for 1% annual fee. I’m not sure you can redeem in kind, but they definitely custody bitcoin and have been before the ETF got approved

I think he mentions just that? " a huge firm like fidelity ppl are fine with sine they trust apriori but a new firm like bitwise if we said we did self custody then many prospective investors would raise eye brows" What is the inaccuracy? https://stacker.news/items/454701?commentId=454906

I have really strange random issue with LNbits one time it works, next time it trough a 500 error. I have setup another Ln address with BTCPay, just tested from Primal, it seams to work, if you want to try let me know.

The buggest thing that is affecting bitcoin’s USD pair and isn’t priced in is the devaluation of the dollar. Thats what is really moving the needle right now. Why else are the exchanges (literally pick any one, on wall st or in crypto) showing so much leverage? The second biggest thing that isn’t priced in is the speed and magnitude of that leverage unwinding.