I don't see how governments would be able to operate while completely ignoring bitcoin, its growth and its spread, and just letting a separate system of value and information (referring to bitcoin) persist without their involvement would seem like dereliction of duties - whether they end up engaging in overreach or not, they are going to perceive themselves as having an interest in bitcoin.. and government is not monolith, either.
I don't think you getting my question. I'm not talking about if the government can overlook Bitcoin
What I was asking was what would Bitcoin offer the government that they never had access to.
I don't know if it's clearer now.
Perhaps we are thinking within different channels? If something new is invented (namely bitcoin), then it is likely going to cause governments to have to work with it (to the extent that they are not able to control it or extinguish it)... So I don't know if governments are going to be improved by it, since maybe governments should have never had the power to print money, so then bitcoin brings them such an opportunity to get out of the money printing business and perhaps to become a better version of themselves, yet there are so many systems in place that bitcoin may well not be able to fix.. governments use debt and leverage and even if their is a sound money that is available, and even if they were to accumulate such sound money through proper channels, they may well not end up getting incentivized to be more responsible since if they can get away with exploiting the good will of the people, then it seems that they will do it, so surely I might be becoming even more pessimistic in regards to bitcoin's ability to fix the various corrupt an broken incentives in government even though there are aspects of bitcoin that strive to create good incentives.. yet the powers that be (whether we call them government or not) will strive to exploit bitcoin to their advantage, and even though bitcoin was designed to take away the need to trust, there will continue to be attacks and ongoing attempts to exploit bitcoin where it is possible to do so. So, is bitcoin going to fix government in the sense that government needs to be fixed, that question is way too broad and complicated for me to try to figure out.
[edited out]
JJG - What a stupid, scumbag, 'know it all' preaching fool you are! I can't imagine anyone caring for someone like you with your mentally ill, shitty character/personality.
I stand by the points that I made in my earlier post, and further, I don't recall claiming that anyone likes me.. except my mom.
FYI, dumbass - When Bitcoin increases in price so do the spot Bitcoin ETFs which tracks Bitcoin perfectly. You are stupid for not knowing that! Of course I want Bitcoin to increase in price!
Just because BTC spot ETFs track BTC prices, that does not make them the same as bitcoin.
Spot Bitcoin ETFs like BlackRock’s IBIT, Fidelity’s FBTC, and Grayscale’s GBTC closely mirror Bitcoin’s price movements.
So? They are not bitcoin.
These ETFs don’t trade at Bitcoin’s full price. Instead, each share represents a fraction of Bitcoin holdings. Their performance is normalized to Bitcoin’s movements, so when Bitcoin increases or drops ~%, ETFs typically show a similar percentage increase or decline. Perfect!
Here is something else you don't comprehend (because you're stupid), when investors buy shares of a spot Bitcoin ETF, the fund’s custodian acquires actual Bitcoin and holds it in reserve, effectively removing those coins from active circulation. Similar to corporate treasuries or long-term holders, ETF reserves reduce the “float” of Bitcoin that can be actively bought or sold. Perfect!
Yes. You keep repeating that the spot BTC ETF providers buy the number bitcoin to cover the outstanding shares. Do you have proof beyond their statements and their government filings? Do you know their various floats when shares are being bought and sold on the market?
Do they have to back up all of their shares with actual bitcoin or are they able to back up their shares with equivalent values of other things besides actual bitcoin?
Are the spot ETF providers restricted in how they source their coins or where they sell them? How are they buying their coins? How are they selling them? How are they storing them?
You probably have no clue, except that you hear that your Spot BTC ETF providers are "required to hold the equivalent of coins" to back up their outstanding shares and to resolve their balances within a certain period of time.
I have never ignored the claim that the Spot BTC ETF entities are making about the spot bitcoin ETF shares all being backed by actual BTC (as you continue to repeat as if there were some kind of proof in regards to how the Spot bitcoin ETF providers are doing it), yet I doubt that we need to believe that they are NOT engaging in shenanigans as seems to be the specialty of these various status quo powers that be financial entities and hopefully for their own good they do not end up on the wrong side of their fucking around without having enough coins to cover the outstanding claims... yet they bank on more and more and more people buying into the various paper bitcoin products, then the easier it becomes for them to cover up the shortfalls in their BTC holdings (up until a point and they likely hope that if (or is it when?) they screw up and they don't have enough coins to cover all of the claims, they end up getting bailed out if they don't have the coins that they claim to have).
What I do know is that you are new to bitcoin, and you are ongoingly proclaiming that Bitcoin spot ETFs are the same as bitcoin and even proclaiming ways that they are better than bitcoin so that you are ongoingly pumping them to create impressions that they are as good as, if not better than bitcoin, which they are not. You also claim to be buying such nonsense paper products, and completely refusing to buy any bitcoin because it is too complicated for your wee widdo head to comprehend how to custody some portion of your own coins.. even if it might ONLY be some fraction (such as 1% of your total bitcoin price exposure).. but instead of buying actual bitcoin, you want to pump the paper bitcoin products and to continue to argue about them as if they were sufficient equivalents to the real deal, which they are not.
BTW, STFU, JJG, its Thursday, thanks for your consideration. <3
Ok.
I have considered the matter, and it's almost Friday..
Request entered into system too late.
STFU is not possible based on already pre-scheduled programming.
Poll
