JDo3 on Nostr: This makes 0 sense. So you can buy and ETN of BTC or ETH (which is just a gamble on ...
This makes 0 sense. So you can buy and ETN of BTC or ETH (which is just a gamble on an item going up or down).
But you CANT buy a Spot ETF which buys the real asset so your risk is based on BTC not the Bank balance sheet.
Also if your in the 1% you can buy as much of these ETN's as you want but the other 99% can only buy $3000 a month of actual BTC (according to UK 2023 Financial Services Act)
The irony is when the 1% gambles on the ETN and Bank can't cover its losses it will be the 99% that cover the "Too Big to Fail" bank. To pay the 1% person their winnings.
It is clear who the bank laws protect...
But you CANT buy a Spot ETF which buys the real asset so your risk is based on BTC not the Bank balance sheet.
Also if your in the 1% you can buy as much of these ETN's as you want but the other 99% can only buy $3000 a month of actual BTC (according to UK 2023 Financial Services Act)
The irony is when the 1% gambles on the ETN and Bank can't cover its losses it will be the 99% that cover the "Too Big to Fail" bank. To pay the 1% person their winnings.
It is clear who the bank laws protect...