IF you want Bitcoin's price to stay flat, like the price of gold...

...then you should root for the ETFs, bring on the "custodial" bullshit, and store YOUR Bitcoins on some exchange. Bring on the rehypothecation. Bring on the Wall St. criminals who will sell hundreds of times more Bitcoin than actually exist.

Just make sure you tell people, "it's good for adoption" while you play the stooge for Wall St. criminals. Be sure to explain how your parents are too stupid to use a Bitcoin wallet, so we'll know that you inherited it from them.

ETFs open the door to bad things.

Rehypothecation: Look at the price of gold; it has been artificially suppressed via "paper gold". Search, "physical gold vs paper gold". ETFs open the door for evil people to suppress the price of Bitcoin by selling Bitcoins that don't exist, or, if you prefer, selling the same Bitcoin to many clients (dozens, hundreds), all at the same time. Don't be quick yell "hooray for Bitcoin ETFs."

Government confiscation: As the US dollar collapses (along with every other fiat currency), it will reach a point where they decide they "need" some money with value, to pay the military, for example. They'll decide they "need" to confiscate Bitcoins (and probably gold, too). The only Bitcoins they'll be able to confiscate will be those in held in custody, such as ETFs, exchanges, GBTC, etc. When this happens, those who have been beating the "Not your keys, not your Bitcoins," drum will be vindicated.

Submitted June 25, 2021 at 06:04PM by Mark_Bear https://ift.tt/3jqYRlF