You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.

― Buckminster Fuller

I love this quote. It captures the energy of the Bitcoin movement (as I perceive it) so well. Not the “number go up” movement but the movement based on Bitcoin principals. The movement that embraces as fundamental the characteristics that make Bitcoin a new model: permissionless, trustless, borderless, accessible, secure and yes private. These characteristics stand in direct opposition to the traditional finance system which requires permission from a 3rd party intermediary, whom you must trust, that operates in a specific geography, is only accessible to those who meet their criteria, is provably insecure, rife with fraud and has your data for sale to the highest bidder.

There is something you need to be aware of however - the new model that is Bitcoin is in danger of being co-opted by the very traditional finance system it is meant to make obsolete. I have written about this several times, before the ETF’s were even approved, calling out concern for exactly who we are getting in bed with when we embrace institutional adoption. The timing is too perfect - right before the halving? Right in line with the coming bull cycle? The warning klaxons should be ringing load and clear.

The “number go up” hype is hard to resist though. This part of the cycle always attracts speculation, grift, and greed for the Jhonny Come Latelys and relief to those who HODL’d on through the bear cycle. Injecting the ETF approval into these conditions is akin to the mass introduction of drugs in the 60’s that transformed a political reform movement into a tune in, drop out, free love cultural movement dividing a nation and laying down the path to collectivism in western culture.

Don’t take my word for it though. There are people a LOT smarter than I ringing the bell, though I fear it is mostly falling on deaf ears. Bitcoiner’s say - “Don’t trust, verify” and this is my ask to all of you. This topic has been heavy on my mind and I feel the need to get it out - to verbalize my concern and share it with the community to be digested and thought over by more minds.

To that end I want to spotlight some interviews of people whom I believe are very much on the front of this issue both narrowly and broadly. So, you can verify for yourself based on the facts they present whether the danger is real.

1. Tokenized, Inc: BlackRock's Plan To Own The Fractionalized World

   1. This article by Whitney Webb and Mark Goodwin is an excellent place to begin. Whitney is probably one of the premier investigative journalists of our time and Mark, based on this article and subsequent interviews, is certainly a peer.

2. Why We Shouldn’t Trust BlackRock with Whitney Webb & Mark Goodwin — What Bitcoin Did

   1. Follow up interview by Peter McCormack of the article above. Really well done, providing a lot of additional color on the topic.

3. TradFi Is Taking Over Crypto!? What You NEED To Know!!

   1. Big Disclaimer - I’m NOT highlighting this video because of Charles Hoskinson and Cardano which is a shitcoin as far as I am concerned. That said, he isn’t wrong about the intended take over by tradfi, and Guy Turner of Coin Bureau presents a pretty insightful and levelheaded look into the issue which makes it worth watching. Also while Coin Bureau isn’t bitcoin only, I like it - get over it.

These are a few recent resources and a good place to begin looking into this issue, to gather your thoughts and decide how real the danger is and what you want to do about it.