I find it hard to believe that regular Reddit users post about Bakkt so much. Very suspicious that Bakkt is paying for some sort of small scale astroturfing campaign over there. Like honestly, who cares?

@htimsxela Probably the same (kind of) people who can't wait till the ETF finally arrives.
This and the related "largest wealth transfer in history" and then especially how insanely large imo the users of bitcoin find that the most/only important thing, is a major reason what made me lose interest.

Tried to bring up that ppl buying into an ETF miss everything that is relevant/cool/unique about bitcoin.
Didn't go too well with the crowd 🤷‍♂️


the sort of rhetoric that captures the attention of the mainstream is very rarely interesting or nuanced. But that doesn't mean the underlying truth is less exciting or potent.

If Bitcoin does continue to be successful, then holding an authentic UTXO will be useful in ways a paper bitcoin will not. I'm sure that ETF buyers will come to realize this at some point.

@htimsxela I almost completely agree with you ... until "I'm sure that ETF buyers will come to realize this at some point."
I completely disagree with that.
Is there ANY evidence to support that assertion? Most ppl who buy into an ETF do that for their pension/401k/etc and all they care about is whether that increases their $/€/etc value. Besides financial analysts, is there 'ever' anyone who took that as a starting point to delve deeper into the underlying material? I highly doubt that.

I'd agree with you within the current paradigm, but when I wrote 'if Bitcoin continues to be successful', I meant to imply a future in which Bitcoin becomes widely adopted and used (ie. starts to become the unit of account for many people, instead of $/€/etc).

For certain, the majority of people still approach Bitcoin with the idea of 'increasing the number of $/€/etc I own'.

@htimsxela I do agree with you about that.
While 'everyone' tries to sound interesting by mocking people with high time preference, they can't wait for the ETF to be approved yesterday so we can moon. Quite paradoxical if you'd ask me.

As long as bitcoin continues to not die, I think more and more people will get interested in bitcoin. The actual thing. That may/will take a long time and I'm fine with that.
But I still see no correlation with an ETF though

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