Bitcoin ETF means paper Bitcoin

[Anonymous No.57249677]

Why no one gets this yet? ETF will obfuscate price discovery and lower(control) the price of BTC. I am disappointed no one gets it.

[Anonymous No.57249685]

>>57249677
etf = pump my bags

[Anonymous No.57249738]

>>57249685
yeah, ask the gold guys.

[Anonymous No.57249749]

>>57249685
lmao no

[Anonymous No.57249767]

Let’s discuss this without trolling. My first question can Wall Street now put shorts on btc like they do with spy?
If Wall Street can short the etf lol yep it’s a trap.

[Anonymous No.57249774]

>>57249677
>I am disappointed no one gets it.

The herd believe whatever they want to believe and will remain wilfully ignorant until it all comes crashing around them and by then they will realise what real money is and all try to rush in at the same time, but by then there wont be any real money left available.

[Anonymous No.57249780]

>>57249685
you're a moron, enjoy getting bent over. Dump coming

[Anonymous No.57249784]

>>57249677
Wrong, spot etf means they had to buy BTC OTC which in case of BTC means less in circulation long term.

Also Gold price is manipulated by etfs because you can't do arbitrage internationally for example when venezuelan gold went below 50% the international price no one could do it due to capital controls on borders or airplanes.

This is not the case for BTC since the system that maintains it operating is also a P2P settlement system by itself if they do the same thing they did with gold they will get FTXed (which did exactly what you are suggesting and created 1 year and 3 months of paper BTC supply)

[Anonymous No.57249810]

>>57249738
Bitcoin is not Gold

[Anonymous No.57249846]

>>57249677
Not so fast, they are required to have proof of reservers and random audits:

https://www.reddit.com/r/Bitcoin/comments/1502l16/spot_etf_must_show_proof_of_reserves/

[Anonymous No.57249863]

>>57249810
It is now goy

[Anonymous No.57249864]

>>57249810
You're right, it's better

[Anonymous No.57249866]

>>57249677
yep, Theyre going to manipulate BTC to shit like they do silver and gold. Moonboys cheering it on.
People are retards.

[Anonymous No.57249870]

>>57249810
>Newfags will claim that BTC was never meant to be an alternative to fiat currency

[Anonymous No.57249883]

hHw do i make money off of the retarded crypto herd without actually participating in the bag tossing competition? I've never been good at timing the market exactly, that's why im a market index fag. Is there some site where they take bets on whether or not BTC will hit a new ATH this decade or not. Like the presidential odds vegas thing. I'll drop 10k on it not happening.

[Anonymous No.57249891]

>>57249677
BTC price was already controllable via futures and futures ETFs. Theoretically since spot ETFs require buying the underlying and since BTC is open and transparent, there's more upside than downside to spot ETFs. The one risk IMO is concentration of BTC supply among asset managers, since they could pump and dump the price, but on the other hand it probably wouldn't be any worse than random early adopter gigawhales doing the pumping and dumping. At least with PoW, large holder don't control stake in the network, they'd have to buy out the miners for that.

[Anonymous No.57249923]

>>57249677
Retard alert

[Anonymous No.57249959]

>>57249846
who enforces the rules?
>>57249784
ok you have a point, however, this requires rule enforcement. Why would the rules be enforced? I thought the point of BTC was decentralization and no single authority. Desu, with the ETF we are witnessing the emergence of single authority.

[Anonymous No.57249989]

>>57249883
short microstrategy maybe? (not a financial advice)

[Anonymous No.57250017]

>>57249767
i don't see how they can't, aren't all ETFs shortable?

[Anonymous No.57250033]

>>57249774
I've always thought this picture was idiotic, because anyone with half a brain would realize the cost of all that gold isn't even a percentage of the cost of the Iraq war.

[Anonymous No.57250137]

>>57250033
>implying spot price is 'the cost'

[Anonymous No.57250141]

>Help I'm retarded I don't know the difference between spot etf and futures etf HEELP!!

[Anonymous No.57250190]

>>57250033
>>57250137

[Anonymous No.57250265]

>>57249677
>aur naur, my digital meme tokens are now sold as a different form of digital meme

[Anonymous No.57250279]

>>57249767
>trap
how so?

[Anonymous No.57250424]

>>57249677
>nobody gets it
Every retard repeats it. Doesn't matter, it was going to happen anyway, better to rip off that bandaid now than later. You were never going to have a large asset class without derivatives latching on to it

[Anonymous No.57251008]

>>57249738
>yeah, ask the gold guys
?

[Anonymous No.57251172]

>>57249959
>ok you have a point, however, this requires rule enforcement. Why would the rules be enforced? I thought the point of BTC was decentralization and no single authority. Desu, with the ETF we are witnessing the emergence of single authority.

Not really all the spot ETF do is buy BTC OTC aka reduce supply any money magic they try to do will backfire as it happened to FTX due to the international free place on global exchanges settling differently than the ETF.

This is the best path for the USA btc etf legitimization increases BTC in control of burger citzens and makes US exchanges more powerful in the global level.

It also increases stablecoin demand and indirectly us treasury bills demand.

[Anonymous No.57251579]

Gold went on a massive decade long bull after its ETF you retard.

[Anonymous No.57251593]

>>57249677
>paper Bitcoin
sorry bud
TRANSPARENT LEDGER

read that again if you're confused

[Anonymous No.57251596]

>>57249677
Doesn't matter, might create problems short term, but long term, it gives it legitimacy

[Anonymous No.57251631]

>>57249677
you mean the future etf which is jew capitalism. these are spot so 1:1 bitcoin backed

[Anonymous No.57252055]

>>57249677
Shh all my viralx-supported shitcoins are pumping that's all that matters

[Anonymous No.57252240]

>>57249891
>BTC price was already controllable via futures and futures ETFs

Exactly. the fear of them shorting the etf is minimal....there is literally no reason to do that if you have futures available. Shorting an ETF means you have to borrow the shares to do so (and pay interest on the loan)...why do that when you can just "short" directly on futures.

The price will go up from etf, but the real fear is more systemic. Eventually the etf's will hoover up all physical coins and then the push for anti self-custody laws will start....