46 sats \ 8 replies \ @grayruby 17h \ parent \ on: BTC Investing: 1 million Sats or Fold(FLD) Stock? An analysis Stacker_Stocks
The custodians could go bust or rug you. It’s not without risk but it’s a reasonable option based on the framework you need to work in.
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50 sats \ 4 replies \ @Satosora 17h
I also worry that these 401k companies wont do well once people start to withdraw. What if the etfs dont manage their money well. Even worse....what if they are doing the paper bitcoin scam?
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40 sats \ 3 replies \ @Undisciplined 17h
They're just brokers. They'll be making money as people withdraw. They don't have to manage money (fiat) for the ETF, beyond the transactions to buy and sell the bitcoin. Unless they're committing immense and blatant financial fraud (possible), the declared amount of bitcoin is held by a custodian and the number of shares is public knowledge.
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45 sats \ 2 replies \ @Satosora 17h
Largers companies have fallen to greed. Didnt one company take on too much bad debt and crash the economy?
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40 sats \ 1 reply \ @Undisciplined 17h
No, the federal government's response to one company taking on too much debt may have crashed the economy, though.
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20 sats \ 0 replies \ @Satosora 17h
Didnt one company do that though? Then they tried to unload it and crashed the economy?
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40 sats \ 2 replies \ @Undisciplined 17h
I have to compare that risk to the tax penalty of withdrawing early. I also suspect the financial service provider would be required to make us whole if the custodian rugged them, so that also has to go into the risk calculation.
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13 sats \ 1 reply \ @grayruby 17h
Yes of course. Maybe Trump will confiscate all the custodians bitcoins for his strategic reserve. Then he can have “fun playing with your bitcoins”
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0 sats \ 0 replies \ @Satosora 17h
That would be a major rug pull. Could he actually do that? Maybe it is time for me to lose my keys in a boating accident...
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