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This is circular reasoning. It doesn't need the approval, what it shows is official capitulation to a "distributed, trustless currency". That's the big news.
by david_shi 3y ago
This is circular reasoning. It doesn't need the approval, what it shows is official capitulation to a "distributed, trustless currency".
That's the big news.
- etherael 3y agoOr what it shows is official acknowledgment that the rubes bought this narrative whilst if you look at the details, it's effectively a CBDC.
- metw02024 3y agoOn the contrary... bitcoin desperately needs this approval. The current (and future) price of BTC is absolutely predicated upon the greater fool theory. The network is dependent on miners. Miners earn bitcoin but spend dollars to create it. They're dependent on price appreciation to provide the liquidity that sustains their business. Without this approval, who is going to continue to pay more for bitcoin?