Have you noticed the shift in tone change for crypto news? As Bitcoin crashed from $8400 to $6000 people stopped claiming the tired old argument of, "The Death Of Bitcoin." Now everyone seems to be attacking altcoins. I guess the apocalypse has shifted down a notch. Now, all anyone can seem to talk about is a Bitcoin ETF, and I'm thoroughly disgusted by it.
We are like a bunch of mad scientists over here. We care little about IF we should do something. We only seem to care about if we CAN.
Have we ever stopped to consider that maybe a Bitcoin ETF is exactly what we don't want? But, money though! We want more money whatever the cost!!!!
Decentralization is the most important variable of crypto. Does an ETF help decentralization? No. Do we really expect to walk into the lion's den and expect them to be on our side? A Bitcoin ETF is effectively saying, "Hey, we know we built this economy to undermine you, but here, have an invitation to sit at the table." Why? Why would we want this? It's just another petty example of sacrificing long term viability for short-term sellout strategy.
Can't we see what's happening here? The SEC will keep denying ETFs for as long as it suits them. These guardians of the market, whose professional job it is to make sure there is no market manipulation, are going to manipulate the market. They've already done it. Remember when they demanded Coinbase and friends to submit to a manipulation audit? Yeah, market manipulated, and whether intentional or not, the market responded hours BEFORE the announcement... oops.
Bitcoin is a golden opportunity for these snakes. There is no regulation in place. No one is going to jail for a pump and dump or insider trading. Hell, hardly anyone goes to jail for that anyway.
You know what's going to happen? They are going to approve the ETF right before the end of the year. Get ready for that artificial pump and dump right in time for tax season. Anyone who knows about an ETF approval in advance is guaranteed at least an automatic instant 25% return on their money due to insider trading. Let's be honest, the real number is probably closer to 100% or more. The hype is real.
Conclusion
The ETF is happening no matter what opinion we have of it, but I'll still make the argument that far too many people think it's a good thing for the space. It definitively is not. The elite will play this card as they would any other ace in the hole. It will be exploited to the fullest. Bitcoin is in an arm-wrestling match with the establishment. Everyone want to project competition between different blockchains where their is none, while the real competition (fiat) is welcomed in with open arms. Open your eyes to the truth: these people are the true enemy.
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