ETFS ARE SIMPLY CUSTODIAL WALLETS BUILT FOR SUITS
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Replies (45)
Right you are!
gotta love that 3rd part risk
"we do this not because it is easy, but because we thought it would be easy."
-bitcoiners 💀💀💀
SOUNDS RUGGY
It's gonna be the biggest rug...a big beautiful rug
🤙
IT MAY BE WORSE THAN THAT IT IS JUST A FIAT SIDE CHAIN THAT IS PEGGED TO ONLY FIAT UNLIKE OTHER LIKE-KIND ETFS THAT EVERYONE ELSE GETS 😂
Long Term ETF Destroys BTC
🙌🫡
Nah
I think people are over estimating how much it matters. Institutions were always going to offer Bitcoin related products. They have to.
Exactly. #bitcoin is for our friends, #bitcoin is for our enemies, #bitcoin is for everyone. Those who can use it, will.
I THINK I’M GONNA HAVE TO STAY HUMBLE AND STACK SATS ABOUT IT
… where the custodian is probably a regulated arm of the govt…
BITCOIN ETFs will be a temporary lifeline prolonging the life of the fiat monetary system by perhaps a decade.
The day will come when ETFs get re-priced in #sats!
Imagine being too chicken to protect 12 words
self custody is way to go. I like the tailwind though
*built for suits *to extract from*
SUITS WILL RUG SUITS UNTIL SELF CUSTODY IMPROVES AND NO ONE WEARS SUITS ANYMORE TO WORK
🙌 Deep
I don't know man, think about some of us older millenials and boomers who have been working and saving in our RRSP's or you in the US with 401k that money is trapped, we can take it out without being cruesfield in taxes. At least an ETF allows us to move that money to an area that is more useful than all these Fiat businesses.
In the same time we support the Bitcoin demand push through to the Fiat system.
As long as you keep your head down and keep stacking privately your real stack.
I don't see anything wrong with it.
Keep in mind some of us have families and large Fiat bills and Fiat jobs so moving to a Bitcoin standard isn't easy or practical!
All we can do is as you say
Stay humble and stack SAT's
Don't think it hurts to beat the Fiat system with their own game
Legendary quote. Funny and true.
Jamie Dimon can’t code.
Totally agree, I had that thought when Saylor said Bitcoin NEEDED large-bank custodial services.
I thought, “or 12 words”.
Blackrock ETF then Blackrock paper bitcoin games then Blackrock collapse then global financial crisis then blame bitcoin then Mandibles then bitcoin standard
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GM
That's actually the best description for an ETF. Suits are not going to self custody… yet
here is my dilemma: i have a forced pension that is set in CHF. I MUST contribute each month by law. I can't take it and hodl BTC.
Now the CHF is as hard af BUT it still evaporates as all fiat and the cumulative effect is disastrous.
SO.... WOULD I opt for some Bitcoin ETF instead of putting my pension directly into fiat?
I think the answer is : YES
So maybe the idea isn't so stupid for me. BUT I ofc get the whole shitty paper Bitcoin, custodial nature of it. Just being pragmatic...
The kicker to the story is... I was asked if I would like to switch from a CHF cash (locked) account to "invest in funds" mode - did this: the fund did a -17% in the very first year. You can't make this shit up!!
Do what works for you, mate.
I had money in my work pension, to which I've contributed for 5-6 years.
After being orange-pilled, I wanted to take it all out an buy Bitcoin with it.
However, after looking into the process of doing that, I realised that after fees and taxes, I'd be lucky to be left with 20% of the money.
So, with that in mind, I simply opened a private pension account, transferred my work pension in it, and used the funds to buy MSTR, RIOT, and ARB, as those were the closest Bitcoin proxies I could invest in.
I would rather just have bought Bitcoin with the funds, but it's better than having the money invested for me by a pension fund.
I do get it. I didn't tell you not to buy the #Bitcoin ETF, if you'll have the option, in your pension.
I gave you an example of a similar situation that I was in, but the ETF wasn't available, at that point.
You should do with your money what makes most sense to you, not to please Bitcoiners.
One of the biggest scams of TradFi:
- we make you a small profit, WE GET PAID!
- we lose you unlimited money, WE GET PAID
It sucks, when it's legal for them to take your money, gamble it away, and face zero consequences
Do we know what the reserve ratio will be initially? How much actual bitcoin do they have to hold?
Let them buy inferior #bitcoin while pumping our freedom money bags 🫡
It’s wrapped/staked Bitcoin for suits and it can’t be withdrawn
not even.
🤣
ANY INVESTMENT THAT'S NOT SELF-CUSTODIAL #BITCOIN IS A SCAM
Not a concern, read the filings.
They're not going bust shorting Bitcoin while propping it up.
Securitizing Bitcoin makes it accessible past beaurocrats.
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New Money printer
🎯
The fascinating aspect of Switzerland is that banks still offer the option to tie up your money, essentially until your death, in a third-tier pension instrument. This instrument offers 1% interest while healthcare and energy costs are skyrocketing. It's supported by a fictional CPI that props up these bank instruments for the benefit of the system and people still drink this kool aid.