Bitcoiners Beg Government To Protect Them From Shitcoin ETFs
The Bitcoin community has rallied together this week to beg the U.S. government to protect them from shitcoin ETFs after news that the government may be pivoting in it's fight against crypto, paving the way for an Ethereum ETF which most experts previously considered highly unlikely to be approved.
According to Bitcoin user Craig Gluurp, "Being a Bitcoiner is the equivalent of passing a Series 7 exam and having a MBA in finance. It means you're smarter than everyone else when it comes to economics and financial literacy. If you down own Bitcoin you aren't smart enough to understand that everything else is a shitcoin, including and most importantly, shitcoins. This is why we need the government to ban shitcoins and reject shitcoin ETFs"
Many in the Bitcoin community say a Ethereum ETF sets a dangerous precedent that shitcoins are legitimate investment options despite the fact that they will all get rugged and go to zero against Bitcoin. Others are worried about their reputation after months of confident tweets and podcast interviews where they told their followers there was no chance an Ethereum ETF would get approved. "I've built my entire influencer brand and online identity around Ethereum being a scam. I have over 25,000 followers who believed me and relied on my expertise even though I made sure to cover my ass by telling them I was not giving financial advice. If Ethereum gets an ETF, I will look stupid! They will dunk on me relentlessly on Twitter!" said one influencer in a letter to SEC Chairman Gary Gensler encouraging him to reject the Ethereum ETF.
Still the majority of Bitcoiners are trying to remain calm. They understand the incentives, the game theory, and first principles thinking ensures that Bitcoin dominance will continue. "Our mission, as Bitcoiners, is to separate money from state. That hasn't changed. In the meantime, we must continue to encourage the state to prosecute shitcoiners and ban shitcoins so NGU can facilitate mass adoption." Craig Gluurp said in his closing statement.
