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...
JDo3
npub16y…6zzgm
2024-03-25 18:30:39
in reply to nevent1q…ph97
Author Public Key
npub16yzz63sxyxs9p7wgtsv7p39qtp0p7y2grwkycprtgw0rx6zjltms96zzgmPublished at
2024-03-25 18:30:39Event JSON
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"content": "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).\nBut you CANT buy a Spot ETF which buys the real asset so your risk is based on BTC not the Bank balance sheet.\nAlso 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)\nThe 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.\nIt is clear who the bank laws protect...",
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}