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🧵 Thread (3 tweets)
Patrick McKenzie@patio11• over 1 year ago
Wow, props to Vanguard. (They made a decision to not support buying the Bitcoin ETFs as they judged this was against the interests of their users. They will certainly lose business over this and know that to be true.) https://t.co/l4uVQLN7No
Patrick McKenzie@patio11• over 1 year ago
Replying to @patio11
“Isn’t this just paternalism?” https://t.co/G0KlKXRF8g
Patrick McKenzie@patio11• over 1 year ago
Replying to @patio11
“Is it fair that powerful financial players can unilaterally decide what users can and cannot do with their money?” In a decentralized system, like say the real economy, intermediaries are free to make decisions and users who do not like those decisions are allowed to exit.