1 year ago

675

Learn to buy non-KYC Bitcoin:
https://www.bitcoinuniversity.com/courses/76599-the-ultimate-guide-to-bitcoin

In this video, I discuss the risks of issuing an ETF for a proof of stake coin like Ethereum.

The biggest risk is that regulated entities that hold and stake the ETH (BlackRock, Coinbase, etc) could be pressured by the government that regulates them to censor transactions at the base layer. If you ruin the censorship-resistance of ETH, there's no good reason for people to use it:

-- It's not a good store of value
-- Transactions are slower and more expensive than using US fiat banking rails
-- It's no better than PayPal or Venmo when it comes to government or corporate censorship and freezing of funds

Under proof of stake, owning more coins gives you more control over the network, including the ability to censor wide swathes of transactions.

The end game for ALL "successful" proof of stake blockchains is centralization of validators among regulated entities like exchanges, custodians, ETF providers, etc

The world is going to have to learn the hard way what makes proof of work so special. And when they learn that, they are going to realize that there is only one proof of work coin that has global recognition, an immaculate conception, and network anti-fragility.

And that's Bitcoin.

There is no second best.

Not investment advice! Consult a financial advisor.

iShares Ethereum Trust has just been registered in Delaware:
https://twitter.com/SummersThings/status/1722630271013675199

Nasdaq petitioning to be able to trade iShares ETH ETF:
https://listingcenter.nasdaq.com/assets/rulebook/nasdaq/filings/SR-NASDAQ-2023-045.pdf

Could BlackRock Destroy Bitcoin?
https://www.youtube.com/watch?v=KloXHKxmoiA&ab_channel=BitcoinUniversity

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#ethereum
#blackrock
#bitcoin

Disclaimer
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