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Thomas
@aviationdoctor.eth
It feels somewhat paradoxical to be celebrating the approval of a custodial TradFi vehicle for ETH. I don’t even expect the ETF inflows to massively boost the price, given the still limited mindshare of ETH outside of crypto circles. 1/3
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Dray11
@dray11
In my mind, the whole reasoning for championing ETH the permissionless, immutable and decentralized global settlement layer is that there is no bias towards who can and cannot use it, it's open to everyone from me and you to TradFi and everyone in between... It was always programmed to have value in its use this way
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Thomas
@aviationdoctor.eth
Which is why I consider the ETF celebration to be paradoxical, because buying or selling an ETF is far from all these cypherpunk characteristics that we treasure – i.e., you need a doxxed account, KYC/AML checks, to pay fees to an intermediary, to delegate custody of your ETH, etc. A bit ironic but here we are
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Dray11
@dray11
I can see the philosophical conflict you're having nut on the flip side, you're ability as an individual to buy, sell and participate in on-chain activities isn't diminished by participation of these centralized entities. I think it's a win-win!
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nomash 🍪
@nomash
I think you both make good points. I see the worry that this centralised way of interacting with Ethereum could become too dominant and compromise Ethereum’s characteristics, but at the end of the day the ETF doesn’t (or hasn’t 🤞) taken away the option to access Ethereum in the decentralised way we value
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