And now, let's explain why ETFs are just more of what Bitcoin was built to
replace.
In case anyone hadn't noticed, the global economy is in turmoil because all the banks and other big institutional investors are constantly gambling on derivatives and other such financial instruments. These instruments largely consist of repackaged debt obligations and IOUs. Then, when they inevitably get their bets wrong, the public has to bail the banks out, the pension pots get raided until there's hardly anything left, the stock market eventually crashes and the traders start throwing themselves out of windows again. Rinse, repeat. That's literally how it works. The global economy in a nutshell. But whatever happens, it's ultimately ordinary people who don't realise any of this is happening who end up being the ones who foot the bill. Yet, despite how ridiculous it all is, no one who's actively involved in this game seems to want to change it. It's a terrible system. It's so insane that you couldn't make this shit up. It's a farce.
So someone created Bitcoin. A pure system, with no debt. And it's great. No one can take money they haven't actually got to gamble with on bad debts. But, instead of embracing this superior model, institutional investors wanted more infinite debt to gamble with, so they eagerly await the launch of Bitcoin
ETFs IOUs where they can continue to speculate from the sidelines in the worthless casino they seemingly can't find the exit from. Apparently that's too "complicated" for them.
They aren't going to be holding any actual bitcoins, they're just going to be playing with the IOUs. That's their loss.
this is completely right. On the one hand, with ETF, Bitcoin price will grow indeed. But do we want to that growth? Are we here to earn money or support a movement? Majority choose the first option, I'm sure
