/biz/ - Business & Finance

[Anonymous No.57609535]

Can any /biz/ oldfags explain how an ETF is bad for Bitcoin and will cause a massive dump/crash? /biz/ keeps saying the ETF is going to harm BTC but I haven't seen any proper explanation.

[Anonymous No.57610202]

>>57609535
>/biz keeps saying it
There's a lot of people on here who would have a nervous breakdown when they started seeing boomers owning way more crypto than they do. I really can't wait to see it and will laugh my ass off at these coping retards

[Anonymous No.57610223]

>>57610202
well they technically won't own the asset

[Anonymous No.57610227]

>>57610202

Yeah, but you can't withdraw ETF Bitcoin to your wallet. You can say ETF Bitcoin is fake or imaginary or pretend Bitcoin.

[Anonymous No.57610281]

>>57610202
> /biz
You have to go back.

[Anonymous No.57610289]

>>57609535
Im kinda tired of biz's idealization of btc when there are much more interesting projects out there . AGRS, RLC, XNA, to name a few. We could be making interesting debates about the application of their tech on the crypto space but no, BTC to 100k is the priority, fuck me

[Anonymous No.57610330]

>>57609535
Investors like Vanguard can overstate their actual ownership over BTC holdings and manipulate the price of the stock relative to BTC's value on the market. Perhaps they can erode trust in the value of BTC if people peg it to the stock market values like iShare, as they're more likely to see stocks as a safer reflex of the economy than crypto. This is only my botched understanding from what I've read on this board.

[Anonymous No.57611369]

>>57610223
Boo hoo as though they'll give a fuck. That's a feature and prevents loss due to being tortured for your keys

[Anonymous No.57611643]

>>57610330
Aren’t their BTC holdings easy to see? It’s all a public ledger afterall

[Anonymous No.57612126]

>>57609535
Just look silver. Totally controlled. Not going anywhere.

[Anonymous No.57613551]

>>57612126
this anon knows what's up - they're "taming bitcoin"

[Anonymous No.57613563]

>>57611643
>"we have several wallets"
>"our bitcoin is in custody of coinbase"
>"we wuz haxored"
We might have to trust them..

[Anonymous No.57614688]

>>57609535
Through ETF they can control the price. They can cause BTC to crab forever if they want.

[Anonymous No.57614764]

I love how you guys eternalize the current state of affairs. Like the ETF is the only thing thats gonna be buying up BTC kek. El Salvador was just the beginning

[Anonymous No.57614766]

>>57610289
yes fuck you

[Anonymous No.57614795]

>>57609535
Theoretically if enough capital flows into the ETFs, then the big asset managers could accumulate enough bitcoin to manipulate the spot market themselves. However to get to that point, they'll have to let BTC gigamoon and all wholecoiners will make it.

[Anonymous No.57614805]

>>57611643
they custody and OTC trade all their settlements. practically nothing is done on chain.

[Anonymous No.57614821]

ETF will increase BTC stock market correlation

good news, its up forever over long term

bad news, it will one of the first asset boomers dump when cpi report comes in 0.001% less than expected

[Anonymous No.57614846]

it doesn't end with USA's ETF

bitcoin is the most global asset since oxygen in the atmosphere

[Anonymous No.57614861]

>>57614846
Atmosphere is mostly nitrogen tho

[Anonymous No.57614913]

>>57614861
True. but look at the top holders %

[Anonymous No.57614916]

>>57609535
The thing that makes Btc interesting and valuable is when you own it, and you have the keys.
So the ETFs could kill or severely damage this aspect, but at the same time they could amplify the crazyness during a bull market.

[Anonymous No.57614926]

>>57614913
Good time to buy Yara though