Bitcoins - digital currency
Bitcoin is a peer-to-peer digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or keep track of transactions. Instead, these tasks are managed collectively by the nodes of the network. Advantages:
- Bitcoins can be sent easily through the Internet, without having to trust middlemen.
- Transactions are designed to be computationally prohibitive to reverse.
- Be safe from instability caused by fractional reserve banking and central banks. The limited inflation of the Bitcoin system’s money supply is distributed evenly (by CPU power) throughout the network, not monopolized by banks.
Total size 5,811,700 BTC
or 4,585,431 USD
or 3,545,137 EUR
or 133,094,323 RUB
or 3,849 ounces of gold
Any value to this idea or will it never work?
Price prediction for June 10th? 6 months from ETF approval
curious what the range in here will be
Reuters says 11 are approved.
https://www.reuters.com/technology/us-se...
ETH doing better off this than BTC... ?
Yeapers... trade tomorrow!
Fee structures are really Attractive
Reuters says 11 are approved.
https://www.reuters.com/technology/us-se...
ETH doing better off this than BTC... ?
Probably speculation over ETH ETF approval and BTC ETF approval already being priced in short term.
Buy or sell the news tomorrow ?(got lot of miners)
SEC just reposted 11 ETF approvals and then instantly reyoinked them. Is this real life?
they are clowns. posted it on their site around 3:45 when they meant to do it after market close at 4:00
incredibly incompetent over there.
2 aspiring democrat commissioners voted against approval. their reasoning: the dc court of appeals ruling was wrong! LOL
gary voted for it.
it's all theatre. they had no actual grounds to deny it. the 2 that voted against just wanted to look good for the anti-crypto army and hopeful promotion from liz warren.
approval seems like it was priced in. will be interesting to see what happens tomorrow once they are listed and what the flows are like.
The only logical reason the sec could ever have for denial would have been 'we are threatened by it'...
long time lurker , first time poster. You guys seem smart so i thought I'd ask. I have a lot of gbtc in a roth account, I should sell it all tomorrow and buy a lower fee etf , correct? Any suggestions for which one is best? Also any thoughts on why gbtc is not lowering fees to be more competitive with others?
Coincidentally just came to post this from an old 2+2er who ran some scenarios on etf fees:
15% roi per annum isn't realistic.
Not to pry jwv but how much GBTC are we talking about?
If it's not that much, just start drawing into vaneck btc etc @ .25%... that's already really low.
15,000 shares, it's a lot for me
long time lurker , first time poster. You guys seem smart so i thought I'd ask. I have a lot of gbtc in a roth account, I should sell it all tomorrow and buy a lower fee etf , correct? Any suggestions for which one is best? Also any thoughts on why gbtc is not lowering fees to be more competitive with others?
bitwise is 20bps fee and they give 10% of profits to open source bitcoin devs. i'd probably go with that one, but I think your best bet is to wait a week, let the dust settle and then move. i'm guessing for the first few days the share prices will be volatile and not 100% reflective of the amounts held.
i have some foreign bitcoin etfs in my tax free account that have 40-100 bps fees. my plan is to move out of them next week, not immediately.
i have some foreign bitcoin etfs in my tax free account that have 40-100 bps fees. my plan is to move out of them next week, not immediately.
Interesting thoughts. Here in the UK they dont allow any sort of financial product to do with bitcoin in the tax free accounts but they do allow you to buy individual shares listed in the US. I might give it a couple of weeks to settle then see if its possible to buy the bitcoin etfs.
Looks like GBTC is still trading at a 6% discount to NAV. I'm guessing your best bet is to let GBTC to convert into an ETF and let the discount to NAV get arb'd away before moving it to a lower fee fund.
Interesting thoughts. Here in the UK they dont allow any sort of financial product to do with bitcoin in the tax free accounts but they do allow you to buy individual shares listed in the US. I might give it a couple of weeks to settle then see if its possible to buy the bitcoin etfs.
My UK ISA has CLSK, RIOT & MSTR. Plenty of proxies out there.
GBTC is not offered. ETF tickers currently not available (and although it hasn't started trading, I imagine they would be on there by now if they were to be offered).
My UK ISA has CLSK, RIOT & MSTR. Plenty of proxies out there.
GBTC is not offered. ETF tickers currently not available (and although it hasn't started trading, I imagine they would be on there by now if they were to be offered).
Yes fair point, miners microstrategy etc all fair game as would coinbase be. I meant more some sort of ETF or fund attempting to give a direct replica of the BTC price for investors. Even then my statement was probably too blanket as I have a recollection of a european country having BTC and ETH etf's available in the past (I think Sweden). For some reason I believe these are allowed in SIPPs in the UK but not ISA's. I don't know exactly why.
Very curious what will happen when I attempt to buy one of the USA etfs a in a couple of weeks inside an ISA.
Markets open...
I am not worrying too much about the fees, ive owned GBTC since it was trading at a 40% discount which has more than made up for any fees that i have paid them, and i'd have to pay a bunch of taxes if i sold so i am just sticking with GBTC. BTC is either going to the moon or going to zero the fees are not going to make or break anything.
Vaneck getting the HODL symbol was so smart. They're doing decent volume thanks to that.
It's funny seeing the Blackrock volume being more than the other 10 combined.
