Yep, it seems obvious, yet there's a strong culture of denial among Bitcoiners. I suspect that the SEC approvals of the ETFs might have actually been a "conspiracy" between regulators and fiat kings to attempt to rehypothecate Bitcoin out of existence.
Tell me why I'm being an idiot?
Replies (6)
Conspiracy implies an agenda driven central intelligence.
I'm going for the multiple cheap huckster narrative 😂
Fair enough. They're definitely cheap hucksters, but the fact that the regulator shows no interest in regulating, seems to suggest conspiracy too.
You're not an idiot. You're just speculating with zero evidence.
I don't understand how ETFs will take btc out of existence. Could you explain?
True. I suppose people invented gods as a way to explain the unexplainable, so same same.
I guess I should accept that the reason for the current Bitcoin price action is simply a case of supply meeting demand. The whales are off-loading.
Just a stupid theory, but if they keep rehypothecating into paper BTC, then how would it be any different from fiat. Any company that can't or won't prove reserves should not be trusted.
