I deeply agree, if you read the white paper carefully, you'll understand that it came to this world to liberate all those enslaved by fiat currency. Now, the Ethereum treasury company is in competition with institutions, and I believe that in the future, it will be like the US stock market, with large numbers of institutions entering. It can be said that the crypto assets represented by Bitcoin will gradually dismantle the fiat currency system. Therefore, I always say that pricing Bitcoin in fiat currency shows a lack of understanding of the essence of money; 1 BTC is 1 BTC, not how much $ or how much CNY 😊

2020-12-04


About institutions like Grayscale


1. I am not very interested in Grayscale; it is something that will inevitably happen when Bitcoin develops to a certain stage. No matter how big or wealthy an institution is, it is still made up of people. It is because people have demands that institutions arise.
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2. The emergence of institutions is somewhat similar to that of mining pools. When individual miners cannot obtain stable returns, mining pools will inevitably be born. Are mining pools centralized? There were concerns about this before, but looking back today, it seems to be an overreaction.
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3. The current situation is somewhat similar; the price of Bitcoin is too high, and many people can no longer afford to buy 1 Bitcoin. Thus, institutions like Grayscale start selling Bitcoin in portions. Pooling everyone's money together to buy.