Bitcoin ETF reminds me of the Hunt Brothers!
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In a recent post by Tron Black here: https://tronblack.medium.com/?p=657fb3ec52cf he mentioned "that cash settled futures BTC ETF are innocuous". They are nothing short of malignant! Imagine "creating extra BTC supply what's the harm?" Keeping the price of BTC Lower (And higher) is the "OBJECTIVE" and to have BTC price control! Why? Because if I am not mistaken the early developers/geeks/smart investors/ early miners have most of those Bitcoins, and this is something outrageous, the communities are HODLING by not selling their bitcoins on the chain, so they will eventually force the price down by the power of the almighty "Leverage"! yes futures are good if you're hedging to take actual delivery, but not when you're doing paper settlements which is a big portion of the commodities market these days. We know for a fact that Oil prices took a deep hit 2 years ago and spot WTI have reached $-56 (NEGATIVE) for the first time in history, Silver prices are suppressed along with Gold prices anything of real value is either suppressed/inflated or manipulated. The Case of the Hunt Brothers One of the best cases I can relate to Bitcoin, think of the Bitcoin hodlers are the two brothers (Herbert and Nelson Hunt) deciding to buy silver with physical delivery (on the block chain of BTC) and not settling with cash (cash settlement in dollars in the case with ETF). They kept buying silver (actual silver delivered to them) equivalent to buying BTC on the blockchain. Was this fair? YES!! They wanted Silver, and they got it! This outraged the Federal Reserve and the US Government and they have decided to ban "Buying" and allowed Short selling instead of negotiating with the hunt brothers. The end result they have bankrupted the Hunts, and the Hunts were so smart, they are the only billionaires who had the actual power to do the right thing, if it was so fair, we would be buying silver from them in 2021! you can read more about it here: https://www.investopedia.com/articles/optioninvestor/09/silver-thursday-hunt-brothers.asp The moment I knew that there will be BTC ETF, I knew that BTC will be manipulated in the future, I think the community that holds BTC is much larger than Wall Street and their banks, and probably the government will put an end to this if they can (And I hope they fail)!! I am so into Ravencoin now, which is the opportunity for TOMO (Those who missed out) on BTC! I don't know what the future holds for Ravencoin, but I love it more than BTC. BTC has it's own people, and hopefully I will be one of those guys who believed in Ravencoin in the early stages. Because what is based on good, it's like a big solid tree that has it's root deep in the ground! submitted by /u/Cultural_Traffic_321 |
