Bitcoin bonds make less sense to me, is it just me

[SilverCryptoBullet]

I have seen and heard about people who invest in digital assets that are linked to Bitcoin, like Bitcoin ETFs and now, Bitcoin bonds. The truth is, if it's not Bitcoin, it can never be Bitcoin. Before anyone considers investing in Bitcoin, they should remember that too. At least, they should understand what they are investing in first, so they don't invest blindly.

Those who prefer to invest in these 'alternatives' are still attached to the traditional way of doing things, with centralized authorities in charge of their assets.

It's their capital and decisions on how they use it but if they don't use their capital for purchasing bitcoin BTC, they are doing something very dangerous.

Saying is "Not your keys, not your coins" and by buying shares of Bitcoin Spot ETF, Bitcoin bond, they don't own private keys, they don't own bitcoins. They take risk by depending on capital management of those companies that can be good or bad. Bad management possibly exists while customers never know and when secret comes out, it's time for bankrun and bankruptcy, and it's too late.

Purchasing bitcoin directly is good but is still not enough. They must store their bitcoin in open source, and non custodial wallets. A practice like purchasing bitcoin and storing it in a centralized platform is dangerous.

Reminder: do not keep your money in online accounts

[Abiky]

Did you mean Bitcoin ETFs?

I also think like that, there's no point to buy Bitcoin ETFs.

It's different to gold which is a physical asset, people need to go to pawnshop to buy it and if you sell it right away, you're in loss. Since there are people who want to buy gold via online, this make a company created XAU which the value pegged with gold, people can trade gold in short time.

While Bitcoin, the real version is online, Bitcoin ETFs is also online, they're same, actually the ETFs version have many disadvantages over the real version.

ETFs are more suitable for people who don't want to deal with the technical aspects of Bitcoin. No need to create a wallet, secure your keys and/or seeds, etc. Wealthy people usually prefer to invest in an ETF out of convenience. You'd be able to ride the market when it goes up or down, without actually holding the asset/commodity in question (in this case, Bitcoin). I know some people will prefer to hold their own BTC for more control/privacy. Same as there are people who prefer physical Gold bullion (coins and bars). To each, their own preference.

What concerns me is that ETFs can pose a huge risk to Bitcoin's decentralization. Would you imagine big investment companies holding most of the coins in circulation? It would be a complete disaster. I sure hope that doesn't happen in the long run. The more people hold BTC on their own, the better.