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Maybe i'm wrong, but ETF's just look like people speculating on the dollar exchange rate with a Coinbase account - which is like 2013 behaviour, isn't it ?
Sure they've got deeper pockets than the 2013's, but they're reactionaries, normies, laggards - they're a decade behind the curve of Bitcoin (they're on the curve though, so still ahead of most others in the world, i suppose).
Maybe the signal being given there is that it's late phase speculation, not ending, but a fading era - and where's Bitcoin going next ? MOE perhaps ?
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I think people don't really understand manipulation.
Any actor, state or private can move the needle of price on a good if they have enough market power. Right?
So, with that in mind. How exactly does the ETF pose a threat to bitcoin? It doesn't. Its just a step on the path to bitcoin being accepted vs. stopped. Humans always try to corner markets. The wealthy, the state, and banks will try to do with bitcoin. If they didn't would bitcoin matter? Or would be some obscure LARP?
Am I wrong here.
I'm not making any moral arguments. Just reality. I think the state and most powerful elites/rich are evil and don't want the best for us. But that is the case without bitcoin or ETFs.
I think bitcoiners and liberty minded people need to realize that the real problem is not the state or corporations. Its human kind. We have not evolved beyond these systems. We have failed to realize our potential. Its not a permanent failure. The trap to me is believing that we should just point our fingers at others in these positions of power as if we only need to remove them and all will be well. It won't be. New people would just arise.
Until we as a species realize the mistakes we repeat over and over again we will be doomed to repeat them. I can't fix the species. I can do my best to correct myself though and try to focus on my habits and day to day activities. My family. My circle.
And maybe if I think I can move the needle on something bigger I can do that. But I think we need a lot more humility. A lot more looking in the mirror. And a lot more critical thinking.