BottleTeams's avatar
BottleTeams 1 month ago
The crux of Bitcoin succeeding is if people begin accepting stable coins or USD tokens. Spot on-chain bitcoin will become impossible to purchase and the value of bitcoin will be controlled by ETFs Exactly the same thing that occurred with GC_F, SI_F contracts and GLD, SLV paper. To understand the bitcoin market you need to understand the metals market.

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Big difference between metals is we know the total supply and issuance schedule of bitcoin and anyone can audit the chain for a minimal expense Just need to educate more plebs to save in bitcoin and self custody so the banks can’t play the same games with bitcoin as they do with metals They can manipulate price and sell paper bitcoins but that will only work for so long.
BottleTeams's avatar
BottleTeams 1 month ago
The ETFs will eventually collapse like GBTC. They will not be able to maintain NAV because they won't be able to source the coins.
BottleTeams's avatar
BottleTeams 1 month ago
The problem with SLV and GLD is that you *can* redeem shares for metal but in order to do so you have to have a +$250k position. That way they never get called.
Also nobody wants to worry about taking physical possession of +$250k and then securing it. Metals are failed moneys because they require all sorts of trusted 3rd parties which is why we ended up with fiat Bitcoin fixes the money problem…just have a bunch of boomers in charge that need to hold onto their power and control as long as they can. In due time bitcoiners will take over What’s funny is we will still probably have monero bro and shitcoiners whining about us
Yup! Play stupid games win stupid prizes They think they can play the same game they played with metals with bitcoin. I am waiting very impatiently for them to fail ha