Oddbean new post about login | logout ETFS ARE SIMPLY CUSTODIAL WALLETS BUILT FOR SUITS
Agreed. How do you foresee affecting Bitcoin Plebs????
It's gonna be the biggest rug...a big beautiful rug
IT MAY BE WORSE THAN THAT IT IS JUST A FIAT SIDE CHAIN THAT IS PEGGED TO ONLY FIAT UNLIKE OTHER LIKE-KIND ETFS THAT EVERYONE ELSE GETS 😂
… where the custodian is probably a regulated arm of the govt…
BITCOIN ETFs will be a temporary lifeline prolonging the life of the fiat monetary system by perhaps a decade. The day will come when ETFs get re-priced in #sats!
Imagine being too chicken to protect 12 words
self custody is way to go. I like the tailwind though
*built for suits *to extract from*
Your post is receiving a lot of attention. Added to the https://nostraco.in/hot feed
I don't know man, think about some of us older millenials and boomers who have been working and saving in our RRSP's or you in the US with 401k that money is trapped, we can take it out without being cruesfield in taxes. At least an ETF allows us to move that money to an area that is more useful than all these Fiat businesses. In the same time we support the Bitcoin demand push through to the Fiat system. As long as you keep your head down and keep stacking privately your real stack. I don't see anything wrong with it. Keep in mind some of us have families and large Fiat bills and Fiat jobs so moving to a Bitcoin standard isn't easy or practical! All we can do is as you say Stay humble and stack SAT's Don't think it hurts to beat the Fiat system with their own game
Jamie Dimon can’t code.
Totally agree, I had that thought when Saylor said Bitcoin NEEDED large-bank custodial services. I thought, “or 12 words”.
Blackrock ETF then Blackrock paper bitcoin games then Blackrock collapse then global financial crisis then blame bitcoin then Mandibles then bitcoin standard nostr:nevent1qqsx0fax8tzfeg6d9s60c3dyaz3u9f7e0hs9l8vkx2wv60kz3sz6v6gpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqpxfzhdwlm3cx9l6wdzyft8w8y9gy607tqgtyfq7tekaxs7lhmxfqvzqqqqqqy40wn6s
That's actually the best description for an ETF. Suits are not going to self custody… yet
here is my dilemma: i have a forced pension that is set in CHF. I MUST contribute each month by law. I can't take it and hodl BTC. Now the CHF is as hard af BUT it still evaporates as all fiat and the cumulative effect is disastrous. SO.... WOULD I opt for some Bitcoin ETF instead of putting my pension directly into fiat? I think the answer is : YES So maybe the idea isn't so stupid for me. BUT I ofc get the whole shitty paper Bitcoin, custodial nature of it. Just being pragmatic... The kicker to the story is... I was asked if I would like to switch from a CHF cash (locked) account to "invest in funds" mode - did this: the fund did a -17% in the very first year. You can't make this shit up!!
Do what works for you, mate. I had money in my work pension, to which I've contributed for 5-6 years. After being orange-pilled, I wanted to take it all out an buy Bitcoin with it. However, after looking into the process of doing that, I realised that after fees and taxes, I'd be lucky to be left with 20% of the money. So, with that in mind, I simply opened a private pension account, transferred my work pension in it, and used the funds to buy MSTR, RIOT, and ARB, as those were the closest Bitcoin proxies I could invest in. I would rather just have bought Bitcoin with the funds, but it's better than having the money invested for me by a pension fund.
Securitizing Bitcoin makes it accessible past beaurocrats.
The fascinating aspect of Switzerland is that banks still offer the option to tie up your money, essentially until your death, in a third-tier pension instrument. This instrument offers 1% interest while healthcare and energy costs are skyrocketing. It's supported by a fictional CPI that props up these bank instruments for the benefit of the system and people still drink this kool aid.
Do we know what the reserve ratio will be initially? How much actual bitcoin do they have to hold?
Not a concern, read the filings. They're not going bust shorting Bitcoin while propping it up.
Let them buy inferior #bitcoin while pumping our freedom money bags 🫡
It’s wrapped/staked Bitcoin for suits and it can’t be withdrawn
not even.
*built for suits to skim money off you
nostr:note1v7n6vwkynj356tp5l3z6f69rc2najl0qt7wevv5ue5lv9rq95e5szy7ufh New Money printer
I do get it. I didn't tell you not to buy the #Bitcoin ETF, if you'll have the option, in your pension. I gave you an example of a similar situation that I was in, but the ETF wasn't available, at that point. You should do with your money what makes most sense to you, not to please Bitcoiners.
One of the biggest scams of TradFi: - we make you a small profit, WE GET PAID! - we lose you unlimited money, WE GET PAID It sucks, when it's legal for them to take your money, gamble it away, and face zero consequences
