"To put it simply, there are now corporations with billions of dollars of investment in not just the asset, but the ecosystem. Mining is a huge economic drain on the system, and all it accomplishes is censorship resistance. If censorship resistance isn’t worth tens or hundred of billions or dollar per year to the corporations; they will find a way to end it. When they do try to end it, they can point to the ETFs enduring appeal and ignore any constitutional brinkmanship from OG Bitcoiners who threaten to reject the new rules or sell their stacks." ~ Achim Warner Does the approval and potentially massive success of the Bitcoin ETFs in the west change the incentive dynamics of the Bitcoin system? If the BlackRock ETF becomes the dominant form of liquidity for Bitcoin purchasing among the millions of fools who do not understand or care about its value or ethos, does this open a path to remove bitcoin's mining process completely, as censorship resistance becomes nothing more than an arbitrary cost? Is this the inevitable end for Bitcoin given a long enough amount of time for the ideology that protected it to be watered down, until it is unrecognizable? Find out in today's read and the Guy's Take to follow Check out the original article at Bitcoin is dead (long live IBIT) by Achim Warner. (Link: http://tinyurl.com/2xresf8y) Guest Link Achim Warner on X (Link: https://twitter.com/AchimWar) 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) Check out our awesome sponsors! Get 9% off the COLDCARD with code BITCOINAUDIBLE ⁠⁠⁠⁠⁠⁠(Link: bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠⁠) Swan: The best way to buy, learn, and earn #Bitcoin (Link: https://swanbitcoin.com) "The first principle is that you must not fool yourself, and you are the easiest person to fool." ~ Richard P Feynman --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

"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) Check out our awesome sponsors! Get 9% off the COLDCARD with code BITCOINAUDIBLE ⁠⁠⁠⁠⁠⁠(Link: bitcoinaudible.com/coldcard⁠⁠⁠⁠⁠⁠) Swan: The best way to buy, learn, and earn #Bitcoin (Link: http...