>As a result, most people will never own and hold custody of actual BTC, even if Bitcoin is divisible by 100 million and you can buy a fraction of it (called Satoshi). Mission accomplished! Most Bitcoin will be in the hands of institutions.
What? BTC being divisible is exactly what prevents this. Unless it's a typo and you meant that people won't be able to buy a whole coin, but I'm not sure what that would change
>Bitcoin is now fully integrated in the US financial markets. That means anyone with cheap access to USD can short or long Bitcoin to infinity until the desired price is reached.
Funny you would worry about FED even if Tether is already doing that for years
We know that people are already turned off by the price of 1 BTC. However, when an unaware person is presented with a BTC ETF at $50 vs 1 BTC at $500,000, which one is he most likely to buy? Most people fail to understand you can buy a fraction of BTC, hence why they go to altcoins as well thinking it's the "next BTC". Buying 0.0007823 BTC is a hard sale and will impact self-custody long term in favor of big players that will hold most BTC.
There is no proof Tether is trading with the money. They use it to farm US Treasury yields. With BTC being on Wall Street now, big players have all the means to trade it and control the price. If you think Tether did that, you're wrong. FTX tried it, but they failed.
Perhaps I underestimate how dumb some of the dumb money is 😅 I'm aware of the psychological effect of price you mention (and how it propels some of the memecoins like Doge), but I wouldn't expect that even right now there is a significant number of people who both
a) have 20k+ of USD available at hand for a whole BTC (almost 43k as I write this)
b) would be ready to degen into an investment they're so uninformed about that they're not even aware that BTC is divisible up to below a value of a USD cent
So in this regard any further price increase wouldn't really block anyone out of the market
About Tether, there are two camps of people as I see it. One says "there is no [hard] proof Tether is fraud" and the other replies with "only because they never provided real audits". Everyone is free to draw their own conclusions, either from information or from persistent lack of it
>As a result, most people will never own and hold custody of actual BTC, even if Bitcoin is divisible by 100 million and you can buy a fraction of it (called Satoshi). Mission accomplished! Most Bitcoin will be in the hands of institutions.
What? BTC being divisible is exactly what prevents this. Unless it's a typo and you meant that people won't be able to buy a whole coin, but I'm not sure what that would change
>Bitcoin is now fully integrated in the US financial markets. That means anyone with cheap access to USD can short or long Bitcoin to infinity until the desired price is reached.
Funny you would worry about FED even if Tether is already doing that for years
We know that people are already turned off by the price of 1 BTC. However, when an unaware person is presented with a BTC ETF at $50 vs 1 BTC at $500,000, which one is he most likely to buy? Most people fail to understand you can buy a fraction of BTC, hence why they go to altcoins as well thinking it's the "next BTC". Buying 0.0007823 BTC is a hard sale and will impact self-custody long term in favor of big players that will hold most BTC.
There is no proof Tether is trading with the money. They use it to farm US Treasury yields. With BTC being on Wall Street now, big players have all the means to trade it and control the price. If you think Tether did that, you're wrong. FTX tried it, but they failed.
Perhaps I underestimate how dumb some of the dumb money is 😅 I'm aware of the psychological effect of price you mention (and how it propels some of the memecoins like Doge), but I wouldn't expect that even right now there is a significant number of people who both
a) have 20k+ of USD available at hand for a whole BTC (almost 43k as I write this)
b) would be ready to degen into an investment they're so uninformed about that they're not even aware that BTC is divisible up to below a value of a USD cent
So in this regard any further price increase wouldn't really block anyone out of the market
About Tether, there are two camps of people as I see it. One says "there is no [hard] proof Tether is fraud" and the other replies with "only because they never provided real audits". Everyone is free to draw their own conclusions, either from information or from persistent lack of it
Good one
Thanks!