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?
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?
depending what broker you use, you may not be able to purchase new bitcoin ETF shares. Vanguard, Merrill Lynch and some others are blocking them.
I read that... which makes no sense because I used to use vanguard and they allowed external account access that included physical gold and crypto assets.
depending what broker you use, you may not be able to purchase new bitcoin ETF shares. Vanguard, Merrill Lynch and some others are blocking them.
Merrill lynch sucks. I told them to go FTS some years ago when they wouldn’t let me trade a triple leveraged natural gas ETF with a day trading account. But yeah a lot of people thinking humongous inflows from 401k’s and IRAs are kidding themselves. A lot of these brokerage’s feel like they have to protect their clients from such risk.
Merrill lynch sucks. I told them to go FTS some years ago when they wouldn’t let me trade a triple leveraged natural gas ETF with a day trading account. But yeah a lot of people thinking humongous inflows from 401k’s and IRAs are kidding themselves. A lot of these brokerage’s feel like they have to protect their clients from such risk.
Vanguard blocking clients from spot bitcoin etf but allows them to invest in the more predatory futures ones and leveraged ones. Make it make sense.
So crazy how ETF got approved and theres little price movement in BTC. ETH seems more responsive even.
BTC got ****ed by the SEC tweet fiasco imo.
Seems like people think ETH eft is next so buying it up now.
Bitcoin ETF being priced in already isn't much of a surprise after the court basically said you have no valid reasons to block it. Next couple of months are going to be interesting though.
the bitcoin used to fund the individual ETFs was already seasoned. That means there wasn't open market pressures.
So crazy how ETF got approved and theres little price movement in BTC. ETH seems more responsive even.
I mean Bitcoin was up like 165% in 2023 with one singular -20% sell-off. Every day can’t be a +20% green dildo day. Regardless of one day price action, the ETF approval was a momentous day in Bitcoin’s history. People were just calling Ethereum dead and now that will get front run ahead of a potential May ETF. Narratives drive price.
Told the wife we were done stacking for now, but we are apparently not done stacking for now kids.
Nothing is priced in lol.
It's one thing approving Bitcoin ETF's, but the question now is will there be any demand for them.
For investors, attention will now turn to how much assets under management, these Bitcoin ETFs contain.
Vanguard blocking clients from spot bitcoin etf but allows them to invest in the more predatory futures ones and leveraged ones. Make it make sense.
The non-spot ETFs have standard financial contracts underlying them. The spot has BTC underlying it.
Taking an unbiased view, it’s quite easy to see how a conservative broker would take this route.
The non-spot ETFs have standard financial contracts underlying them. The spot has BTC underlying it.
Taking an unbiased view, it’s quite easy to see how a conservative broker would take this route.
This is basically the argument the DC Circuit Court of Appeals disagreed with, hence why spot was allowed.
$95M in outflows from Grayscale on day 1. Happy to see the top two funds by inflows are those donating a percentage of fees to Bitcoin developers.
Vanguard blocking clients from spot bitcoin etf but allows them to invest in the more predatory futures ones and leveraged ones. Make it make sense.
Vanguard won't even let me buy the SVOL etf, which I don't really get because I have purchased some of the more speculative covered call ETFs on there (TSLY, CONY, etc.). Not sure what precisely about SVOL makes it unacceptable but I get a message when I try to order saying they don't allow trading in it.
Vanguard has a good rep but seems like this type of thing could just lead to people migrating to other platforms aside from the Bogleheads who just want to buy VTI.
Coinbase stock being absolutely hammered last week or so. I know they are acting as custodian for most of the BTC ETFs, but I have no clue how that revenue will compare to the revenue they will lose out on by people not trading as much on COIN and buying via ETFs instead.
All miners got clubber too.
Seem the approval was more a sell news events than a buy news event ?
Inflation picked up , chances of less rates cuts -> bad for stocks ?
Technically, it was due a correction.
I don't think the uptrend has been violated.
All the speculative stuff is getting clobbered to start the year, which isn't showing up in the S and P 500.
Guys I'm getting a little nervous. There simply aren't enough bitcoin for this level of onboarding. 900 a day now, and 450 after the halving? And lunatics not selling. I just don't find this sustainable, fellas.
It's over imo
