Quote from: thecodebear on June 08, 2024, 05:12:27 PM

Quote from: btc-1024mining on June 08, 2024, 02:54:42 PM

BTC has been on the hot seat lately, and today it's pushing ETFs to the top of the heap.
According to news reports, ETF investing has taken in more than $800 million in capital, which is a macro figure Why is it that ETFs are the only ones in the cryptocurrency ecosystem that have made an epic rise to prominence?
Let's analyze it from several angles
First of all, as the first cryptocurrency to be listed as a backdrop, BTC is the only giant that has experienced a lot of bloodshed even before it grew up, which has also paved the way for its current status.

Let's put it another way, is this a God-given destiny or is it being manipulated by invisible capital behind the scenes? We don't know, but with the volatility of the cryptocurrency market and increased demand for digital assets, bitcoin spot ETFs have become the focus of investor attention. on June 4, bitcoin spot ETFs saw a one-day net inflow of $887 million, which was the second-highest one-day net inflow since March 12, when it hit a record of $1.05 billion. And with ETFs allowing investors to easily buy and sell bitcoin in traditional securities markets without having to directly hold or manage the digital asset , doesn't this this break the decentralized nature of it? As we've talked about above is this God's plan or is it the control of capital Is the peak of ETFs really shaping up as us investors?

You're talking about god's plan or invisible capital...wtf hahaha.

Money going into ETF is just people and institutions buying it through TradFi products. No different than people and institutions buying bitcoin itself on exchanges. Just another bitcoin market.

And the $887 million happened several days ago, on Tuesday. Wednesday was another ~$500 million, Thursday was $200+ million, and yesterday was $140 million or so.

ETFs have nothing to do with Bitcoin's decentralization, so not sure why you are even mentioning that. Bitcoin is not proof-of-stake, ownership of coins doesn't affect decentralization at all. With the upcoming ETH ETFs, that will indeed further centralize Ethereum, but Bitcoin is Proof of Work so it does nothing to Bitcoin other than increase adoption.

Perhaps the OP is referring to "paper bitcoin" and how it could potentially manipulate the BTC price like paper silver is manipulated by big bankers to affect the market value of silver? I'm not sure, purely speculation but that is what came across my mind while reading that. Surely the inflows are great & will help the prop the price up. One great thing is the sheer rarity of Bitcoin vs. Silver in this example. BTC clocking in at 21 Mil (less than that if you count all the lost coins) vs. an estimated 60 billion troy ounces of silver https://learn.apmex.com/answers/how-much-silver-is-in-the-world/ and I don't believe that even accounts for all the paper silver either, but i'm not so sure...