"Bitcoin enables perhaps the most powerful mode of ownership ever devised; it would be akin to gold inside a safe that can’t be penetrated with all the energy the universe, and with a password that you know but which could not be guessed over the entire lifetime of the universe."
~ Allen Farrington
What if buying an ETF of Bitcoin, is contradictory to the very investment thesis of Bitcoin itself. Knowing the investment thesis for bitcoin, should entail the understanding that bitcoin's value proposition is undermined by the very notion of holding a credit instrument in its place. Farrington breaks down a few of the reasons why in this excellent, short letter to those considering a purchase of the newly approved bitcoin ETFs.
Check out the original article at An Open Letter to Prospective Buyers of a Bitcoin ETF. (Link: http://tinyurl.com/ykktptk4)
References from the show:
Shelling Out: The Origins of Money | Satoshi Nakamoto Institute (Link: http://tinyurl.com/4r8ynwtf)
Read - Capital in the 21st century. (Link: http://tinyurl.com/4k4vcz99)
Read - Orange is the New Green (Link: http://tinyurl.com/bdebpcur)
Read - Banks without Bankers (Link: http://tinyurl.com/2vjtmrcn)
Bitcoin is Venice: Essays on the Past and Future of Capitalism by Allen Farrington, Sacha Meyers, Guy Swann. (Link: http://tinyurl.com/yrj6k3cm)
The Lightning Network Reference Rate by Nik Bhatia. (Link: http://tinyurl.com/mr3cmrtr)
The LINER Index: How Amboss is Shaping a More Inclusive Future for Finance by Amboss Technologies. (Link: http://tinyurl.com/yk7f2zhu)
Guest Links
Allen Farrington on X (Link: https://twitter.com/allenf32)
Allen Farrington Website (Link: https://www.uncerto.com/)
Host Links
Guy on Nostr (Link: https://tinyurl.com/yc376bff)
Guy on X (Link: https://twitter.com/theguyswann)
Bitcoin Audible on X (Link: https://twitter.com/BitcoinAudible)
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