Oddbean new post about login | logout some dumb bitcoiner finally heard about rumor didn't know their plan B late but waking up slowly centralized bitcoin https://image.nostr.build/51cfd1415f1c14c1ac396fecce84107b8cb37294403542130262d70f8e655248.png there r lot more banking spies in bitcoin community than anywhere else
They would never dare to do such thing. BlackRock is ReGUlaTed By Zeeee SEC! They're the good guys 😆 nostr:nevent1qvzqqqqqqypzqhjlc9p5ey5teh96d7qpskw4ywp5zzfjjxvql5mwxwm5zcun6k3vqqsq9ua7n8ww3nqrwvd3zm7tkm36fx3jyaue4lzk955na3tzafhgd3czjw85a
The difference this time around is that they can't fudge anything when someone calls bullshit. You either have Bitcoin or you don't.
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."
much complex game than u think multi front game
I never said I don't think it's complex, only that it isn't going to matter in the end. I'm going to win or die trying.
Can't suppress it forever. Too many plebs buying to self custody. Coinbase is going to blow up within the decade though.
Gold guys saying this for decades. They don't know how ftds or the obligations warehouse works. American markets are weaponized fraud.
Yes, but gold is totally inferior against this type of attack. Gold supply is undefined, while Bitcoins is precise. Gold supply is not auditable, while Bitcoins supply is public. Gold is impractical to self custody over a value threshold, while Bitcoin can be self-custodied at any value level. Gold is slow to transport or settle, while large amount of Bitcoin can be moved within an hour at a trivial cost. Businesses like FTX, Blockfi, Celsius, and MtGox have showed us what happens if you run a fractional reserve Bitcoin system. FTX in particular is a great example of a suspicious, government backed company blowing up because they were operating fraudulently. But don't take my word for it. Just wait on the next decade. Either coinbase runs a full reserve bitcoin bank or they go out of business. I'm betting the latter, and I'll happy take cheap sats if there is manipulation.
