9ueer on Nostr: government / institutions buy the bitcoin, and sit on it, or rather let Coinbase sit ...
government / institutions buy the bitcoin, and sit on it, or rather let Coinbase sit on it. they then trade paper bitcoin and IOUs and futures and derivatives like they already do, not even touching the bitcoin that "backs" their financial system.
a transparent, auditable main chain exposes none of the shady business.
and they beat Bitcoin into submission. they never need to use it, they only need to "own" it.
Published at
2024-11-21 05:19:07Event JSON
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"created_at": 1732166347,
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"content": "government / institutions buy the bitcoin, and sit on it, or rather let Coinbase sit on it. they then trade paper bitcoin and IOUs and futures and derivatives like they already do, not even touching the bitcoin that \"backs\" their financial system.\n\na transparent, auditable main chain exposes none of the shady business.\n\nand they beat Bitcoin into submission. they never need to use it, they only need to \"own\" it.\n\n",
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