Fixed money always pools.
Over the last year, the cryptocurrency world watched as it awaited approval from a government agency to allow Wall Street institutions to sell derivatives to clients, raising money to buy Bitcoin and custody it.
In this video I discuss how history is repeating itself and this is aligned with what traditionally happens. It does open the door for algorithmic stablecoins to truly bring Satoshi's vision forth.
▶️ 3Speak
I was saying that it's a bad thing from the start. But everywhere I read, people just wanted that. That's a proof that everyone just wants US dollars, not BTC. That's not what btc was meant for
HBD is the new People’s Money.
That said, my wife will love that the slice of our retirement accounts that’s BTC-centric has green candles. 😉
I think a lot of those that want big corporations to buy BTC and ETH are thinking of two things. One, is the short term gain. They expect BTC to moon because of this and they want to earn a lot from this movement. The second is they think this move will usher in mass adoption of crypto faster. Once more people are introduced to it, more will be accepting of crypto, and it should have a domino effect. For those wanting to keep the decentralization of crypto, they can look at other tokens for that. BTC and ETH are too popular for that to happen. Just think of them as the necessary sacrifice.
As long as the fee to move Bitcoin is worth the cost and blocks aren't getting censored I'm not too worried about institutional investors. This logic that hedge funds getting involved kills decentralization means that all crypto was doomed from the start. We can't exclude institutions from a permissionless system. They are going to wet their beak on any and all action that gets big enough. That's a guarantee.
Bitcoin and crypto are infrastructure.
It doesn't suddenly become worthless because rich people start using the infrastructure.
If hedge funds started buying Hive it would also pool just like Bitcoin.
It's the stake holders that determine where inflation is allocated.
That is not a solution to this problem, assuming it is a problem to begin with.
It doesn't matter what people want.
It makes no difference whether someone wants an ETF or not.
If every single person in Bitcoin opposed the ETF it would make zero difference.
I agree that the old guard creating derivatives is nothing to celebrate,
but this is all part of the journey.
You're declaring it over when it's really just started.
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