03/02/2024
What does the Bitcoin ETF mean?
"But how do you spend it?"
Good question in 2024.
"But what will these automobiles burn for fuel?"
Good question in 1898 when Gasoline was bought by the quart from your local apothecary. (That's a drug store for you millennials, but don't worry y'all get BTC whether the people who know what an apothecary is do or don't.)
"But what roads will these automobiles drive on?"
Good question in 1905. Are you still asking it today?
"But automobiles are immoral because it is government who built the roads." So don't buy a car and don't drive on them. Like that holds development back.
A Bitcoin ETF means that anyone can buy bitcoin on any major stock trading platform without having to commit to platforms that deal only in digital dollars.
Bitcoin has now entered the mainstream traditional financial system and is taking the next step of removing it, Banks, governments, Insurance companies, lending institutions, stock markets, even traditional corporation and all.
What is the purpose of Bitcoin?
To replace all governments and their central banks as the means through which money/cash is created, controlled and exchanged.
Who is the most suspicious of this Decentralized Digital currency?
Governments, Banks, Investment houses, and Gold backed and Hard Money Ideologues.
Wait! You're saying the Government and Banks agree with the Gold-Only people their mortal enemies? Yes, but for opposite reasons. The Government and Banks see Bitcoin as the end of their centralized control of the economy. Right we get that, but why do the gold-only people hat it? The Gold-Only people see it as a scam to draw us all into central government control.
What do I see?
I hope that Bitcoin or some better version of that technology can provide a decentralized way to bring an end to Government and Bank control of finance, information manipulation and fraud.
But what I see for sure is the following:
Fact: Gold is the same price as in 2012, 12 years ago. A store of value that cannot keep up with 3/4 of all dollars printed during that same time period is no longer a store of value. What is gold? Like guns food and feminine supplies, it is a hedge against the end of the world. No more, no less than insurance which should not be more than 7% of your portfolio along with upside down swimming pools in your back yard.
Fact: Bitcoin and some other Layer Ones have proven they are reliable decentralized means of holding and transferring value.
FACT: None of them have proven that they can scale to the necessary level of handling the transactions of 8 billion people, and $950 Trillion world economy.
Fact: the Crypto world trades in a four year boom and bust Cycle.
Fact: We are entering the 4th Bull Cycle and the world Traditional Financial Economy has made it possible to main stream and adopt Bitcoin, and the ETF which is the means of adoption has grown to 5 Billion in the first month and shows no signs of slowing down.
At this point, I don't know what will happen after 2025, but nations and all major financial institutions have been studying how to buy into the Crypto Market, particularly Bitcoin.
Conclusion -- I think whatever you hold in those assets from ETF to some form of Crypto itself, is going to 10X from January 2023 to October 2025. We are now, a year into the Bull market and crypto is up about 150% from January 23 to February 24. (Please call any fund manager who wants to handle your retirement and ask him if he can do even a 15% return. He will say something too good to be true probably is . . . except when it is true. The above are facts whether you like them or not. Not FACT Bitcoin will save the world, or really work etc. That remains to be seen. Reread the facts again.
I'm thinking for two years this will be boom town and toward the end of the 2nd year we will have a good idea if it can scale. If Bitcoin can scale then it must be able to withstand takeover., not because you or I or the Bitcoin whales and nations need to do something political, but because it really does perform as promised. That is what remains to be seen.
Common questions to put into historical perspective:
"But how do you spend it?"
Good question in 2024.
"But what will these automobiles burn for fuel?"
Good question in 1898 when Gasoline was bought by the quart from your local apothecary. (That's a drug store for you millennials, but don't worry y'all get BTC whether the people who know what an apothecary is do or don't.)
"But what roads will these automobiles drive on?"
Good question in 1905. Are you still asking it?
