0 sats \ 12 replies \ @bitcoin_rationalist 14 Dec 2023 \ on: Alert: ledger library confirmed compromised and replaced with a drainer. privacy
Stuff like this will drive pre-coiners to BlackRock and Fidelity, unfortunately.
Many people are gonna go with the ETFs. They will have to learn their lessons.
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Can you be more specific about which lessons these types of investors will learn?
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When the rug pullings start.
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How many rug pulls have happened with the GLD etf?
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They don't care about people holding an ETF, they care about people using bitcoin as money. No one will be avoiding sanctions with their Blackrock Bitcoin ETF shares. They will be safely controlled by a fully compliant and regulated entity. No worries there. That's why Lizard Warren has her panties in a knot about self-custody. So you're right, gold and bitcoin ETFs are probably safe for the foreseeable future, because that's exactly what they want: everyone owning a derivative instead of the real thing. The fight is over self-sovereignty, and ETFs are a win for them in that respect.
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Exactly
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I'm not trying to dodge the question. I don't know actually. Do you know? Is it more than zero?
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To my knowledge, it's 0.
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I think you misunderstand what I'm saying. The US gov controls the system which you would be trusting. That's what I'm saying. When it gets bad, you will not be able to access your bitcoin.
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And they will learn the same lessons
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Which same lesson? ETF investors won't have to worry about these custodial issues. They'll just hold shares in a brokerage account.
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ETFs don't hold funds, its just a claim of a third party to another third party, lots of fingers in that pie on the back end and loads of room to stuff up key management, then what?
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