855 sats \ 4 replies \ @JesseJames 1 Nov 2023 \ on: Why Shunning a Bitcoin ETF is More Important than Celebrating it bitcoin
The only benefit I could see is if your company allows it (and matches it) in your 401K, then you will get the "paper coin" contributed by your Boss. How that will unfold in the future, who knows? But it is possible one semi-benefit. Some people I know prefer to forgo the whole 401K and get that taxed cash biweekly and dump it (DCO style) into BTC in Your self-custody wallet. I would say much safer that way but YMMV.
Its really something isn't it? The government has financial incentives to keep you from holding your own money.
Surely I don't need to repeat this, but in case a lurker hasn't seen the argument before, what happens to those 401ks in the case of a fork? Do you own Bitcoin? Or are you left with Bitcoin Cash?
What would have happened if a Bitcoin ETF company took part in the NY Agreement?
https://en.bitcoin.it/wiki/New_York_Agreement
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Agree, that's why it is wise to stay away from them...
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What are the incentives for an ETF to choose a less desirable fork?
I can think of disincentives - lower value and therefore lower profits from the fees.
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Legal compliance, for example anyway. Confidence as another example that because they're moving with other industry partners that it won't present a problem for them. Afterall, why would an exchange support a "less desirable" fork. Read up on the New York agreement man.
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