OP argument applies to any crypto.
Bitcoin is a "ponzi by proxy"
- Thread starter orbit23
- Start date
OP argument applies to any crypto.
This is the scariest part of a bitcoin ETF. The exchange may have rules about how far the price can fall in a day and what trading hours are, but Bitcoin operates 24/7.
Imagine bitcoin starts plunging on the last day before a holiday weekend and triggers the "circuit breakers".
People are going to be sitting there helpless. Unable to sell their ETF holding and unable to convert it to Bitcoin, while the market continues to plunge.
If people are so worried about this made up problem then just buy regular bitcoin
All commodities ETFs have the same restrictions. And yet, somehow... they survive and thrive.
As for market plunges... YES PLEASE! These never come around ENOUGH!
Are your hands really made out of that much paper?
As for market plunges... YES PLEASE! These never come around ENOUGH!
Are your hands really made out of that much paper?
I tried to cover this in my original.
Value isnt something you can hold in your hand anymore.Moreso in the digital age but this has been the case for a while now.
Scarcity and supply/demand are the only things that make a block of land worth anything.Now apply that to a digital product that is capped,has a dwindling supply and increasing demand.
It is only scary for people who do not understand the value of Bitcoin
Most of my family's life savings and net worth are stored in Bitcoin and we sleep well at night
Anyone can understand the value of Bitcoin if they put the time and effort to understand money (and do not just think of the medium of exchange aspect of money)
Read the book "The Bitcoin Standard"
Fiat money is designed to steal from everyone
Its purpose is to steal, year after year after year and it forces everyone to use a different type of money to store their work, their energy, their value, be it stocks, bonds, real estate or fine art
Imagine if you had $100k in cold hard cash in 2020, how much it has devalued in the past 3 years
Expand the time horizon to 5 years, 10 years and 30 years. There is no time period that they did not debase the value of fiat money and no time period "they" did not steal from you
tl;dr
credit to @linaseiche of Twitter
The traditional finance folks are waking up to what is more valuable, fiat monies or bitcoin. The ET people are still trying to figure it out.
