Read_795 - Bitcoin is Dead (Long Live IBIT)

January 31, 2024 01:10:05
Read_795 - Bitcoin is Dead (Long Live IBIT)
Bitcoin Audible
Read_795 - Bitcoin is Dead (Long Live IBIT)

Jan 31 2024 | 01:10:05

/

Hosted By

Guy Swann

Show Notes

"To put it simply, there are now corporations with billions of dollars of investment in not just the asset, but the ecosystem. Mining is a huge economic drain on the system, and all it accomplishes is censorship resistance. If censorship resistance isn’t worth tens or hundred of billions or dollar per year to the corporations; they will find a way to end it. When they do try to end it, they can point to the ETFs enduring appeal and ignore any constitutional brinkmanship from OG Bitcoiners who threaten to reject the new rules or sell their stacks."

~ Achim Warner


Does the approval and potentially massive success of the Bitcoin ETFs in the west change the incentive dynamics of the Bitcoin system? If the BlackRock ETF becomes the dominant form of liquidity for Bitcoin purchasing among the millions of fools who do not understand or care about its value or ethos, does this open a path to remove bitcoin's mining process completely, as censorship resistance becomes nothing more than an arbitrary cost? Is this the inevitable end for Bitcoin given a long enough amount of time for the ideology that protected it to be watered down, until it is unrecognizable?

Find out in today's read and the Guy's Take to follow


Check out the original article at Bitcoin is dead (long live IBIT) by Achim Warner. (Link: http://tinyurl.com/2xresf8y)


Guest Link


Host Links


Check out our awesome sponsors!


"The first principle is that you must not fool yourself, and you are the easiest person to fool."

~ Richard P Feynman

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

July 26, 2023 01:17:35
Episode Cover

Read_752 - Bitcoin Becomes the Flag of Technology [Balaji S. Srinivasan]

"Bitcoin represents the explicit encoding of previously implicit values of the tech community. It's not just software — it is a Schelling point and...

Listen

Episode

September 30, 2019 02:19:36
Episode Cover

CryptoChat_023 - Small State, Big Bitcoin [The Raleigh Bitcoin Podcast]

An awesome discussion with the squad over at the Raleigh Bitcoin Podcast. Can anyone sensibly be both pro Bitcoin & pro big government? When,...

Listen

Episode

October 10, 2018 00:25:53
Episode Cover

CryptoQuikRead_165 - Why Privacy Matters [Alex Hardy]

Privacy isn’t just about being safe and keeping our data secure, its also a deeply fundamental aspect of being human. The unconscious pressures from...

Listen