@MustStopMurad IMO bitcoin ideology is seeing a shift away from Satoshi’s original precedents. For example, I am struggling with the idea of an ETF product that would essentially tether bitcoin to fiat indefinitely. Your thoughts?
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Excuse my short sightedness...certainly would not be indefinite, but a bad precedent going forward. My main concern is that the winds have shifted away from original precedents. Eerily similar to the United States shift away from precedents set in the late 18th century.
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What is your exact concern? You want Bitcoin to be denominated in fiat for the time being so that as Bitcoin’s price denominated in fiat increases, it highlights fiat’s weakness vs. Bitcoin and the increase in the latter’s purchasing power
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My concern is that once bitcoin is packaged into investment products or a synthetic CDO type product, bitcoin will be subject to the same systemic risks that it was designed to combat in the first place.
End of conversation
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