pull down to refresh
111 sats \ 5 replies \ @theinstagibbs 21 Jun 2023 \ on: Why are people excited about Blackrock's ETF? bitcoin
Having a deeper market to sell/buy into isn't bad.
ETF doesn't effect the ability of people to self custody.
But leave less bitcoins on the table.
reply
This is not a bad thing...
Lets say that Coinbase screws up and loses everyone's bitcoin(no paper bitcoin, real bitcoin). They just gave everyone that holds bitcoin an increase in relative value. They reduced the supply.
reply
But not everyone wants an increase in relative value now.
Not everyone has reached their stacking goals.
Wanting a pump now is a high time preference.
I have a high time preference for fiat (I want fiat now, so I can buy more bitcoin while it's cheap), but a low time preference for bitcoin's value going up.
reply
Agree. I was hoping it would fall back to 20k. All my money for Bitcoin went to pay taxes, couldn't make it this local low and Swan Bitcoin is upgrading their platform so I couldn't even stack a little :(
reply
Agreed. This is just adoption. Bitcoins are being used in more versatile ways.
reply