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Beware Bitcoin FUTURES Products, Buy Real Spot Bitcoin Instead and HODL Your Own Keys | Lawrence Lepard & Greg Foss Explain | Nov 17th 2021

Beware Bitcoin FUTURES Products, Buy Real Spot Bitcoin Instead and HODL Your Own Keys | Lawrence Lepard & Greg Foss Explain | Nov 17th 2021

Beware Bitcoin FUTURES Products, Buy Real Spot Bitcoin Instead and HODL Your Own Keys | Lawrence Lepard & Greg Foss Explain | Nov 17th 2021 from Bitcoin




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20 Comments

  1. is it not true that this endless money printing will continue to inflate fiat currencies to the point that they aren’t worth much anyway and bitcoin would still reign supreme being a truly hard store of value in a sea of valueless fiats?

  2. This is why it’s so depressing that even in this subreddit — mostly comprised of people who think they believe in Bitcoin’s purpose — don’t understand why all these financial products involving lending your BTC, earning interest on it, wanting ETFs for the “mainstream” or to make retirement accounts easy, are actually just endorsing the very problem Bitcoin was invented to solve.

    The genesis block in the Bitcoin blockchain was this simple message: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

    It’s this simple. Bitcoin was envisioned to decouple from the innately corrupt financial system. This isn’t about good/evil. Abstract and opaque financial products will always obscure truth and be exploited legally or otherwise. This includes ETFs, any funds that aren’t independently audited, and any exchanges that don’t keep 100% reserves and hold no legal obligation to safeguard your coins.

    To decouple, you just do one thing: Hold bitcoin in your custody. Don’t buy things that “represent” bitcoin. Just buy it and hold it. It’s not rocket science.

    Unlike physical gold or oil or other “hedge” assets, bitcoin is easy to have in your possession and safeguard — it uses next to zero physical space and costs nothing to transport. Why would you ever need an abstracted paper product to “bet on Bitcoin” rather than just hold it?

  3. They comin’ fo ur ‘Corn. I wonder how long until it’s manipulated like SLVR. Then someone can make a r/WallStreetCorn, so everyone can complain how paper ‘Corn dumps every morning at 5am on the dot.

    Misery loves company, those silver bugs been crying for decades now.

  4. **I’m definitely naïve, but I want to challenge this. Please note I’m a Canadian resident, and the information below could be false since I’m no expert.**

    One of the popular Bitcoin ETFs here is BTCC.B ([https://www.purposeinvest.com/funds/purpose-bitcoin-etf](https://www.purposeinvest.com/funds/purpose-bitcoin-etf))

    The following info is found on the front page of the ETF linked above:

    >Physically settled and safely held in cold storage
    >
    >This isn’t just a claim to paper like Bitcoin futures, it’s the real deal. When you buy the ETF, we buy real Bitcoin with your money. By holding this ETF, you hold actual Bitcoin in your portfolio.

    Furthermore, the ETF is sold on regulated brokerage platforms with access to the Canadian Investor Protection Fund (CIPF) protection if the brokerage becomes insolvent: [https://www.cipf.ca/](https://www.cipf.ca/)

    So what does all of the above mean? My understanding is that it means that Canadians have a safe way to get exposure into Bitcoin via ETFs, while also being protected by CIPF, and without negatively influencing the value of Bitcoin since real Bitcoin is bought for each share purchased.

What do you think?

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