BTC India
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I can’t help but think it’s bad for BTC in the long term. Just a gut feeling that this is TradFi’s attempt to corner the market and suppress the price of BTC like they do gold.
*Edit this is not FUD. If you’re a Bitcoiner you need to be skeptical of every potential attack vector, and I don’t think an ETF is just about “fees”
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View Reddit by derekblake22 – View Source
Blackrock will make their money from the Fees, so it’s in their interest for the price to go higher not lower, checkout BritishHodl on youtube, he explains this really well.
I share the concern about potential manipulation, but let’s stay vigilant and remember that decentralization is our greatest strength. We must continue to educate and onboard new users to maintain the power of the community.
Gold is “worth” 11 trillion dollars. If they get bitcoin there and then “corner” it like gold supposedly is (which I do not believe it is the case), I will be a happy millionaire with cornered bitcoin at 11T. Please stop talking (not just you but many here) of gold as a failure. Gold is a success, its last ten years are a failure preceded by 40 years of huge success and thousands of years of mild success. I will be a very happy individual if bitcoin “fails” as gold failed.
What could be bad about one of the richest most powerful entities in the world buying and holding as much btc as they can find? I’m sure they will share, after all that’s how they became this large in the first place, is by sharing.
Dude before posting at least do a little research in Google ‘how asset managers make money’ so you can stop spreading this patethic fud posts
Fudders are getting desperate watching that $20k Bitcoin pipedream slip away rapidly, have fun on the sidelines chumps
I’m not an expert, but I feel like speed will play a big part in price manipulation. I did a transaction yesterday and it took over an hour to confirm, but if you are working within an etf everything is moving at light speed before you can do anything in the blockchain. Everything will be sourced and settled at the end of the day or longer. That could be a big factor to their advantage. PFOF ?
Andreas Antonopoulos talked about Bitcoin ETFs. Even though it’s bad, it’s inevitable.
It’s good for the price. But it ain’t good for our freedom.
This is their attempt that pushes them one step closer to their agenda.
“You’ll own nothing and you’ll be happy”
FUD
Will these gigantic institutions use their power to further enrich themselves? Yes, of course.
But there no way any investment or savings vehicle can go mainstream without eventually coming into contact with traditional finance. If something new survives long enough, it’s just an inevitability.