relax dude

Plumber, electrician, painter decorator

Bitcoin does not necessarily need to be spent at this stage, we are in the discovery phase and value drain from mainstream assets.

It has value even only as a store of value. But agreed less than it also being a medium of exchange.

That will come. When oil is traded for bitcoin and Amazon begins to accept it for payments. Then the less developed economies being the first to transition to it and drop their fiats.

I see you hat your saying but I think It would apply more of a cost to running a bot farm. You could even take this further perhaps and think of ways that a bot account can be identified and blocked and when this happens you could take the stake as a punishment? Applying penalties for running bots - guess this would be the hard part

Well bots would have 0 sats or a low amount, and this wouldn’t be a payment but a proof of ownership of some sats, and you can gain more traction by having a large amount of sats, I.e a person that owns 1M sats is more likely to be real and gain more involvement

Team musk

I don’t think anyone knows the answer to that, super hard to tell what is a payment for a good/service by just looking at on chain data

Love what he stands for, but wrong execution, maybe a good learning experience though

Watch bitcoin academy on YouTube - Blackrock ETF episode

Also, you need to hold the underlying to keep the value of the ETF inline with the live of bitcoin. Ofc there is some room for manipulation. But not that much and nothing like FTX

This x100

Saylor got me, I didn’t realise how crazy absolute scarcity was, and how it’s never really existed before, also how it allows you to truely own it unlike everything else which is a IOU until we don’t like you

<3

You are correct however consider that if the bitcoin ETF is not backed by bitcoin and the price goes up, what do they account for the change in value of the ETF. (E.g. I sell you a paper bitcoin, price goes up and you come to redeem but I never had the bitcoin, I’m out of pocket)If the prices goes down and the bitcoin is not backed then they essentially have made money by selling you paper bitcoin. So yes they can manipulate but not to excessive levels, at least I think

Institutions will come in no matter what. And we want them to get involved. I agree that it’s an inferior way to get exposure to bitcoin but it is a legal way for corporations to do so.

I don’t think ETFs are scams, this is a way for institutions to gain exposure to bitcoin without actually having to custody it themselves