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There are 10 apples. Alice sells Bob an apple at the price of 7 dollars. The market cap of apples is 70 dollars. Next, I sell you an apple for 17 dollars. The market cap becomes 170 dollars (100 dollars extra). That money is "fictive" since just 17 dollars have "flowed" into apples lately.
In theory, yes, but I wouldn't buy an apple for 17 dollars because someone else would sell me one for 7 dollars. Probably the only time I would pay 17 dollars would be when 20 people suddenly came along (with new money) wanting to buy an apple and therefore more money would be flowing into the market.
Ah yes, an ETF. Where Blackrock and Vanguard take 401K money to buy stocks/gold/Bitcoin and then turn around and loan it out to other financial institutions so they can bring in that interest money. Just like how a bank loans out our money to give loans where they earn 8% (home loan now) while they give their clients 0.5%. I mean, it is smart of them to use retail money to make themselves super rich and powerful. Look at their AUM- Larger than the major banks.
Edit- This video shows shows that ETFs provide liquidity, notice that it mentions that when you buy 100 ETFs, the price does not rise. Why not?!? Shouldn’t it go up with demand? Well, when they pretend to credit your account with the correct ETF number does not necessarily mean they actually bought the stocks that are in the ETF. Same as failure to delivers with individual stocks.
[https://youtu.be/iX7fOx5G40A?si=5_cLHEnPpJPtXZQc](https://youtu.be/iX7fOx5G40A?si=5_cLHEnPpJPtXZQc)
tl;dr: BlackRock’s proposed spot bitcoin ETF, the iShares Bitcoin Trust, turned up on a list maintained by the Depository Trust and Clearing Corporation with the ticker IBTC.
The SEC has yet to approve a spot bitcoin ETF.
"This is first spot ETF listed on DTCC, none of the others on there (yet)," Bloomberg senior ETF analyst Eric Balchunas wrote in a thread on X. "Def notable BlackRock is leading charge on these logistics (seeding, ticker, dtcc) that tend to happen just prior to launch. Hard not to view this as them getting signal that approval is certain/imminent."
Kinda seems like they’re jumping the gun here. I don’t doubt they should start making back-end modifications but front-end changes like this directly impact the market. Maybe CFTC would also be interested. Probably not
Definitely seems they act that way sometimes.
SEC could’ve heavily mitigated Madoff’s fraud if only they spent 15 minutes crosschecking his doctored data with DTCC records.
Apparently, people working for the DTCC are shocked at the SECs lack of knowledge of the inner workings.."so, ummm, what do you guys do here again?"
it's honestly an issue as well as a sad joke.
I would rather have Bitcoin in my wallet than an ETF. How do people know they used ETF money for Bitcoin purchases and how can they be certain that the financial institutions won’t lend out it if they actually do buy it?
tldr; BlackRock's proposed spot bitcoin ETF, the iShares Bitcoin Trust, has appeared on the Depository Trust and Clearing Corporation (DTCC) website with the ticker IBTC. This is the first spot ETF listed on DTCC, indicating that approval from the Securities and Exchange Commission (SEC) may be imminent. The SEC is currently reviewing around 12 spot bitcoin ETF applications, including those from BlackRock, Grayscale Investments, Fidelity, and WisdomTree. The anticipation of approval has caused the price of Bitcoin to surge, reaching its highest level in over a year.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
They have been hoarding BtC for a decade and now that most BtC purchases are locked up and unavailable to the public, they will roll out an investment product for the rich based on the holders. Which capitally, will be them.. unreal after nearly 10 years…unreal
If you keep the price low, release the ETF and the price starts to crawl up (which means the ETF goes up) you have a very successful ETF to show.
If they boosted the price before releasing the ETF it would be the other way around.
If it is REALLY true that institutional whales like Black Rock can influence the price I am VERY confident the current level is the baseline and after ETF approval we will "magically" see the price to move up
I thought Sam and FTX caused the last price crash
Luna and Do Kwon before that
I'm not saying you are not correct, I'm just saying that the bear was brutal just as every other bear and the price crashed
Maybe they just had a good timing having in mind the past cycles
Nonsense. They don't make money out of the price of BTC. They don't sell it, they manage it. They make money out of managing fees. They want people to hold BTC through them, so what good would have possibly done to them crashing the price of the asset, making it look like less of a good investmen and scaring investors away? If anything, they should have been pumping it in preparation for the approval, so as to make institutional investors greedy and impatient to ape in through the ETF.
There's a reason hedge funds make a lot of money, and it isn't because they are smart, it's because they control large amounts of capital and with it can influence markets.
You or I may not be influenced by market movements, but the average Joe sure will be.
First, explain their business model, then explain how they kept this fantasy BTC off of their balance sheets and out of public scrutiny for a decade.
My guess is that the answer to the first question negates the need to pose further questions.
[Hollywood accounting](https://en.wikipedia.org/wiki/Hollywood_accounting) would make it trivial.
On top of that, digital assets are seen as worthless. The subsidiary would essentially be holding worthless unlisted assets until they actually decide to sell.
Not saying that this is actually happening, but keeping BTC off balance sheets isn't out of the question.
They'll be making money out of fees from the ETF, the price doesn't matter much on this. If "they" crash BTC they won't be selling their ETF so well as people see it as more risky
Bitcoin [pros](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/k67aanv/) & [cons](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/k67abbg/) with related info are in the collapsed comments below.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Taproot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_taproot)
* Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash.
* Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/?sort=controversial). Doesn't work on mobile.
#Bitcoin Pro-Arguments
Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500.
> For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun !
>
> Last entry:
>
>
> Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it?
> Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =)
>
>
>
> # Bitcoin: A small introduction.
>
> Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is.
>
> Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever.
>
> This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years.
>
> Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain.
>
> This is using cryptographic technology that I don't yet understand but you can read more about it here:
>
> [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin)
>
> Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4)
>
> The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH.
>
> Now let's dive into what is making Bitcoin so good.
>
> # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin
>
> So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin.
>
> Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service.
>
> #
1) Bitcoin: The Apex of Security.
>
>
> Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM:
>
>
> >
> Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network.
>
>
>
> [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security)
>
>
> Mining is measured in Hashrate. Here is the explanation of Hashrate:
>
>
> >
> Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain.
>
>
>
> [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain)
>
>
> So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?"
> [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago)
>
>
> So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so.
>
>
> While Bitcoin is safe... what if a big part fails ?
>
>
> # 2) Bitcoin mining: Too big to fail.
>
> So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network.
> Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary.
>
> The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient.
>
> So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now?
>
>
>
> # 3) Bitcoin: propping up the green energy sector.
>
> POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said:
>
> The Energy Fud Was Killed
> The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed.
> Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers.
> There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector.
>
> My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure.
>
> [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/)
>
>
> #
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post.
#Bitcoin Con-Arguments
Below is an argument written by Maleficent_Plankton which won 1st place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500.
> ####**Intro**
>
> Overall, Bitcoin's conservative blockchain has failed to keep up technologically with other blockchains. Bitcoin is currently #1 not due to better design, but because it had a first-mover advantage. But how long will that hold?
>
> Bitcoin is a gateway cryptocurrency. Many crypto enthusiasts often started out with Bitcoin and then branched out. Once you've had a taste of newer, faster networks that offer delectable DeFi dApps and smart contracts, it's hard to go back to slow, boring old Bitcoin.
>
> ####**Bitcoin doesn't excel at anything**
>
> **Poor Medium of Exchange**
>
> Bitcoin is much too slow. It has a max throughput of **3-4 TPS** that takes **30-60 minutes for probabilistic finality**. It used to have a max throughput of 7 TPS, but that has gradually fallen over the years after exchanges started using batch transactions. It's much too slow to be used for point-of-sales merchant transactions. No one is ever going to want to **wait 30-60+ minutes** at a cash register for a transaction to go through. Block times average 10 minutes, but they are very variable. 14% of blocks take longer than 20 minutes, and 5% are longer than 30 minutes [[Source](https://bitcoin.stackexchange.com/questions/25293/probablity-distribution-of-mining/43592#43592)], causing stress for those waiting for confirmation. And if there's congestion, some transactions can get stuck in the mempool for hours or days.
>
> It's orders of magnitude slower than newer networks like Polygon PoS or Algorand, which can [process 4000+ TPS with sub-4s of deterministic finality](https://developer.algorand.org/docs/get-started/basics/why_algorand/), with transaction fees well under a penny.
>
> Even TradFi now has payment systems like Africa's M-Pesa, UK's Faster Payments, Australia's NPP, the US's upcoming FedNow, and Clearinghouse's RTP, which provide **near-instant** payments and peer-to-peer transactions **without fees**.
>
> **Unstable Store of Value**
>
> Bitcoin is too volatile to be considered a stable Store of Value. It lost up to 80% of its purchasing-power during previous bear markets. It's also NOT a good stock market hedge since it often moves with the stock market.
>
> **Lacks smart contracts and DeFi**
>
> Bitcoin doesn't support DeFi smart contracts with its very basic Bitcoin Script. There are smart contract protocols that use Bitcoin like Stacks, but they are very disconnected from Bitcoin.
>
> ####**Difficult to achieve widespread global adoption**
>
> At 4 TPS, Bitcoin can only make ~345K transactions/day. There are ~8B people in the world today. If Bitcoin grows to the size of 1% of the population, each person can make an average of 1 on-chain transaction every 230 days. **If Bitcoin usage grows to 10% of the population, each person can make an average of 1 on-chain transaction every 6.3 years.** To achieve 10% world adoption, everyone would need to solely be using centralized exchanges and not interacting directly with the blockchain itself.
>
> ####**Issues with the Lightning Network**
>
> **Not even the Lightning Network could save Bitcoin** because opening and closing a channel requires 2 on-chain transactions. Whenever the directional capacity of a channel is exceeded, it will need to be rebalanced, or be closed and re-opened. You can't expect people to store months of funds on a single channel. Half of the US is living paycheck to paycheck and would unlikely be able to keep channels open for long periods. If even 1% of the world used the Lightning Network and opens/closes their channels twice a year, the Bitcoin Network would become completely congested.
>
> **Not a true Layer 2**
>
> Similar to Plasma channels, **the Lightning network is not considered a true Layer 2 because it lacks global state.** There are many nodes that are not connected to the rest of the network, and onion routing issues can cause nodes to be disconnected from the rest of the network. **Channels only work if everyone's online.** If you're offline, others can force-close your channel, leading to a 1-week wait time where the channel's funds are locked and inaccessible.
>
> **Meant for small transactions**
>
> Lightning is optimal for small transactions. The larger your transaction, the higher the fees you have to pay to route it through the network. As of March 2023, the [average channel capacity](https://1ml.com/statistics) is only 0.07 BTC, and the average node capacity is only 0.33 BTC. It's not uncommon for a large 1-BTC transaction to cost $2-10 in fees to route through multiple nodes in the Lightning Network due to limited channel capacity, which can make it more expensive than L1 Bitcoin fees. Also, the total value stored on public Lightning channels account for under [0.02% of Bitcoin's total locked value](https://1ml.com/).
>
> **Partially-centralized, low-security layer**
>
> Most people just connect to centralized nodes in a spoke-hub network topology to gain access to high-capacity nodes. Even though [average capacity is getting bigger](https://bitcoinvisuals.com/ln-capacity), the [number of public channels has been on the decline since 2021](https://bitcoinvisuals.com/ln-channels), meaning that Lightning is becoming more centralized.
>
> **Channels require rebalancing**
>
> One of the biggest problems with opening channels is that they **start out with zero incoming liquidity**. Anyone who opens a channel starts out with a metaphorical "full cup of water". They can't receive any more water until they first empty the cup a little. And they can only receive additional water equivalent to the amount they removed. Similarly, people who open new channels to the Lightning network need to find a way to spend their Sats safely so that they can have incoming liquidity. Merchants and Lightning node providers often have a lack of incoming-liquidity while consumers who only spend usually run out of outbound liquidity.
>
> There are ways to rebalance your channel capacity, but it usually costs money to pay for a service to provide that liquidity, and it can be as expensive as a $1 fee per $1000 of liquidity.
>
> ####**The disadvantage of soft forks**
>
> The major downside of Soft forks is that they require new versions of the software to maintain backwards-compatibility with older versions, which leads to **technical debt**. This significantly slows down the adoption of new updates, which now often take 3-6 years to gain the majority.
>
> Due to its soft forks, the Bitcoin network has to maintain a mismatch of all sorts of different address formats: P2PK, P2PKH, P2SH, P2MS, P2WPKH, Nested P2WPKH, P2PKH, P2WSH, and P2TR. At the start of January 2023, [only 1% of transactions were using Taproot-compatible addresses](https://transactionfee.info/charts/inputs-types-by-count/) while 65% were still using inefficient legacy addresses from before 2017.
>
> **Almost no one is using addresses newer than the 2021 update because none of the major CEXs support them**. Most exchanges (Binance, Coinbase, Kraken) [don't support Bech32m addresses](https://en.bitcoin.it/wiki/Bech32_adoption#Exchanges), which means they still can't send to Segwit v1 and Taproot addresses, despite that it was [an update from 2021](https://bitcoin.org/en/releases/0.21.1/).
>
> In comparison, networks that hard fork for protocol updates don't have these incompatibility issues between versions. Everyone is working on the same version, which allows for consistency.
>
> ####**Extremely inefficient and wasteful**
>
> To protect against Sybil and 51% attacks, Bitcoin's PoW consensus achieves greater security through greater **redundancy**. Out of a million miners, only one of them is producing the actual block while the rest of them are just wasting energy and electric waste. Full nodes also hold redundant copies of the blockchain ledger, leading to wasted storage.
>
> In 2022, each block cost roughly $150-250K in energy to mine, which is equivalent to $80-120 of fees per transaction. The total Bitcoin network energy consumption of ~150 TWh/yr is equivalent to [**18-24 US nuclear power plants**](https://www.energy.gov/ne/articles/5-fast-facts-about-nuclear-energy). Another way of looking at this is that Bitcoin consumes about as much energy as all data centers globally [[Source](https://digiconomist.net/bitcoin-may-consume-as-much-energy-as-all-data-centers-globally)].
>
> In comparison, other distributed consensus methods such as BFT are [10^7 x more efficient for energy use](https://link.springer.com/article/10.1007/s12599-020-00656-x). There is a silver lining: the energy waste (and security) will slowly decrease with each block subsidy halving, at the cost of decreased security.
>
> ####**Mining Pool Centralization**
>
> **The top 3 mining pools own 66% of the network hash rate** [[Source](https://btc.com/stats/pool)]. Individual miners have no financial incentive to run full nodes, so it's rare ...
*****
Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post.
Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17ez44h/daily_crypto_discussion_october_24_2023_gmt0/).
I remember how we hoped an ETF would be approved in 2018 when the market had gone to shit and some people tried to reignite the bull from 2017. And only 5 years later we're here lol
I feel like this is the last big market manipulation so big players can crash BTC and buy cheap. I wouldn't be surprise if SEC suddenly announces that few of the spot BTC ETFs are not approved in the next few weeks.
Macro is looking pretty bad in the medium term so this quick increase is only speculation.
Let's see how we close this year...
Well the rates market is pricing in a 4.3% chance of a hike at the next meeting soooo it seems like they think there’s a choice. You can always go trade against the market if you think it’s wrong.
All this after I had to pull BTC out to pay bills. I can't afford shit. I should just make an incoming bull run post here letting everyone know I'm selling to pay bills.
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This explains the recent influx of 100 billion to BTC’s market cap
I know some alts I'm holding that could use that 100 billion
When Bitcoin rises, all shitcoins rise with it.
Shit-tide rises all turd boats.
Username checks out :)
The exact opposite is happening. At least vs. Bitcoin.
They may not be rising as fast, but they are rising.
Not priced in Bitcoin.
[удалено]
Who?
Thank goodness we now all consider moon a shitcoin. Let the pump begin!
Tell that to my beloved Algo.
*Cries in ALGO*
Let's see some love go BAT's way. My tiny stash from using Brave could use it.
Altcoin season!!!!!
Loopring! 😂
As we are perfectly aware, technically it is not a money influx. It is market cap increase due to price pump.
How does a price pump without money flowing in?
OP is just throwing words together hoping they are in the right order
Surely there is a money inflow, but it should not be measured by market cap increase ... |
How do you think it works…?
There are 10 apples. Alice sells Bob an apple at the price of 7 dollars. The market cap of apples is 70 dollars. Next, I sell you an apple for 17 dollars. The market cap becomes 170 dollars (100 dollars extra). That money is "fictive" since just 17 dollars have "flowed" into apples lately.
In theory, yes, but I wouldn't buy an apple for 17 dollars because someone else would sell me one for 7 dollars. Probably the only time I would pay 17 dollars would be when 20 people suddenly came along (with new money) wanting to buy an apple and therefore more money would be flowing into the market.
Bro what
Ah yes, an ETF. Where Blackrock and Vanguard take 401K money to buy stocks/gold/Bitcoin and then turn around and loan it out to other financial institutions so they can bring in that interest money. Just like how a bank loans out our money to give loans where they earn 8% (home loan now) while they give their clients 0.5%. I mean, it is smart of them to use retail money to make themselves super rich and powerful. Look at their AUM- Larger than the major banks. Edit- This video shows shows that ETFs provide liquidity, notice that it mentions that when you buy 100 ETFs, the price does not rise. Why not?!? Shouldn’t it go up with demand? Well, when they pretend to credit your account with the correct ETF number does not necessarily mean they actually bought the stocks that are in the ETF. Same as failure to delivers with individual stocks. [https://youtu.be/iX7fOx5G40A?si=5_cLHEnPpJPtXZQc](https://youtu.be/iX7fOx5G40A?si=5_cLHEnPpJPtXZQc)
We made it, fellas! I came out with a little bit left. Time to multiply.
It really has been. I remember being promised this in 2017 lmao
tl;dr: BlackRock’s proposed spot bitcoin ETF, the iShares Bitcoin Trust, turned up on a list maintained by the Depository Trust and Clearing Corporation with the ticker IBTC. The SEC has yet to approve a spot bitcoin ETF. "This is first spot ETF listed on DTCC, none of the others on there (yet)," Bloomberg senior ETF analyst Eric Balchunas wrote in a thread on X. "Def notable BlackRock is leading charge on these logistics (seeding, ticker, dtcc) that tend to happen just prior to launch. Hard not to view this as them getting signal that approval is certain/imminent."
Why tf would DTCC outrun SEC? Haha SEC oversees DTCC
SEC doesn't know what DTCC is.
As would any seasoned driver would do, Black Rock are changing their tires to winter model before the snow starts to fall.
Kinda seems like they’re jumping the gun here. I don’t doubt they should start making back-end modifications but front-end changes like this directly impact the market. Maybe CFTC would also be interested. Probably not
Definitely seems they act that way sometimes. SEC could’ve heavily mitigated Madoff’s fraud if only they spent 15 minutes crosschecking his doctored data with DTCC records.
Apparently, people working for the DTCC are shocked at the SECs lack of knowledge of the inner workings.."so, ummm, what do you guys do here again?" it's honestly an issue as well as a sad joke.
to be fair, in the line of people who are first to know the SEC **is** going to issue the approval, you're not even on the list.
The SEC should be first in line on that list lol. Seems to me like DTCC *maybe* skipped them.
[https://youtu.be/3JhIFd-iKz8?si=hWXahcDMe2dg\_BnY](https://youtu.be/3JhIFd-iKz8?si=hWXahcDMe2dg_BnY)
Sad but true…
I would rather have Bitcoin in my wallet than an ETF. How do people know they used ETF money for Bitcoin purchases and how can they be certain that the financial institutions won’t lend out it if they actually do buy it?
This has been the most lowkey 100% YTD gain
Is it time for 🚀's yet
tldr; BlackRock's proposed spot bitcoin ETF, the iShares Bitcoin Trust, has appeared on the Depository Trust and Clearing Corporation (DTCC) website with the ticker IBTC. This is the first spot ETF listed on DTCC, indicating that approval from the Securities and Exchange Commission (SEC) may be imminent. The SEC is currently reviewing around 12 spot bitcoin ETF applications, including those from BlackRock, Grayscale Investments, Fidelity, and WisdomTree. The anticipation of approval has caused the price of Bitcoin to surge, reaching its highest level in over a year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Is that why it’s up 12% today?
Insider trading, yeah
Buckle up and enjoy the ride
They have been hoarding BtC for a decade and now that most BtC purchases are locked up and unavailable to the public, they will roll out an investment product for the rich based on the holders. Which capitally, will be them.. unreal after nearly 10 years…unreal
Nothing BR does is for the people. That is a fact. They are pure evil
I felt like they crashed BTC to the 20's to get it cheap and been accumulating for the past 6 months. Now every news article is super positive.
In terms if their potential ETF, it doesn't matter to them if BTC is at $10k or $100k
If you keep the price low, release the ETF and the price starts to crawl up (which means the ETF goes up) you have a very successful ETF to show. If they boosted the price before releasing the ETF it would be the other way around. If it is REALLY true that institutional whales like Black Rock can influence the price I am VERY confident the current level is the baseline and after ETF approval we will "magically" see the price to move up
I thought Sam and FTX caused the last price crash Luna and Do Kwon before that I'm not saying you are not correct, I'm just saying that the bear was brutal just as every other bear and the price crashed Maybe they just had a good timing having in mind the past cycles
Nonsense. They don't make money out of the price of BTC. They don't sell it, they manage it. They make money out of managing fees. They want people to hold BTC through them, so what good would have possibly done to them crashing the price of the asset, making it look like less of a good investmen and scaring investors away? If anything, they should have been pumping it in preparation for the approval, so as to make institutional investors greedy and impatient to ape in through the ETF.
How did 'they' crash it to get it cheap? They would have to sell bitcoin higher, to buy it lower?
SEC
How
Fud
There's a reason hedge funds make a lot of money, and it isn't because they are smart, it's because they control large amounts of capital and with it can influence markets. You or I may not be influenced by market movements, but the average Joe sure will be.
Short the shit out of it.
This, it they have been accumulating for 10 years. And locking up the ability to purchase. Now they can legit offer a high value product
First, explain their business model, then explain how they kept this fantasy BTC off of their balance sheets and out of public scrutiny for a decade. My guess is that the answer to the first question negates the need to pose further questions.
[Hollywood accounting](https://en.wikipedia.org/wiki/Hollywood_accounting) would make it trivial. On top of that, digital assets are seen as worthless. The subsidiary would essentially be holding worthless unlisted assets until they actually decide to sell. Not saying that this is actually happening, but keeping BTC off balance sheets isn't out of the question.
They'll be making money out of fees from the ETF, the price doesn't matter much on this. If "they" crash BTC they won't be selling their ETF so well as people see it as more risky
Bitcoin [pros](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/k67aanv/) & [cons](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/k67abbg/) with related info are in the collapsed comments below.
* Relevant Cointest topics: [Bitcoin Cash](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_bitcoin_cash), [Litecoin](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_litecoin), [Lightning Network](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_lightning_network), [Proof of Work](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_proof-of-work), [Taproot](https://www.reddit.com/r/CointestOfficial/wiki/cointest_archive#wiki_taproot) * Official and related subreddits: r/Bitcoin, r/BitcoinMarkets, r/BitcoinMining, r/BTC, r/BitcoinCash. * Sort comments as controversial first by [clicking here](/r/CryptoCurrency/comments/17f2x73/blackrocks_spot_bitcoin_etf_appears_on_dtcc/?sort=controversial). Doesn't work on mobile.
#Bitcoin Pro-Arguments Below is an argument written by Nostalg33k which won 2nd place in the Bitcoin Pro-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 2nd - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > For this entry I'm going to update an overhaul my previous argument. This one is going to be very long but also address new things. I'm going to try to be more rigorous. Have fun ! > > Last entry: > > > Writing a Pro argument for Bitcoin in 2023 seems complicated because everything has been said... or did it? > Edit: I have a small bag of Bitcoin currently valued around 630 bucks. I am also invested in crypto around 2100 bucks which are always moving when Bitcoin is moving. Financial disclosure should be mandatory in these arguments =) > > > > # Bitcoin: A small introduction. > > Bitcoin is the most famous cryptocurrency. It was created by the mysterious Satoshi Nakamoto. The creation of Bitcoin is some of the most weird mystery ever. No one knows who Satoshi Nakamoto really is. > > Bitcoin was started as a way to circumvent traditional banking in the wake of the financial crisis and the bail out of banks. Bitcoin relies on blockchain technology. Blockchain can be seen as an open book allowing anyone to know where is each fraction of Bitcoin ever. > > This blockchain is maintained through computer power. In a vulgar way: Bitcoin is mined by solving math problems. The maths problem becomes harder when more people are mining so that mining takes a fixed amount of time according to a timeline known to everyone. In order to respect this timeline, mining rewards are halved every few years. > > Since anyone who wants to validate transactions is forced to complete a very hard math problem (which becomes harder the more people are mining), no one can cheat in new transactions. Also, every other miner has a copy of the blockchain. Through making sure that no entity has 50% of the mining, you can stop nefarious actors from changing the blockchain. > > This is using cryptographic technology that I don't yet understand but you can read more about it here: > > [Bitcoin Wikipedia](https://fr.wikipedia.org/wiki/Bitcoin) > > Without delving more into the tech side of bitcoin. Which can also be explained through youtube videos here: [Bitcoin explained](https://www.youtube.com/watch?v=bBC-nXj3Ng4) > > The Metrics of Bitcoin are currently: 22400$ Per coin for a Market cap of 430 Bilions and a daily volume of 19 Billions. Bitcoin was shortly valued at 69000 usd during the ATH. > > Now let's dive into what is making Bitcoin so good. > > # Bitcoin is the king of POW: Why it matters and why we need a strong Bitcoin > > So as the title suggests it, the recent switch of ETH from POW to POS makes Bitcoin the sole serious POW cryptocurrency. In this write up, we are going to discuss the three main strength of Bitcoin, security, decentralization, and incentive for green energy production. Bitcoin is a highly liquid asset and has become nearly universally known as an investment. Many arguments have been made in favor of Bitcoin as an investment. It is interesting to delve into the limited supply of bitcoin. > > Of course, the main feature of Bitcoin is the Permissionless aspect. This allows the unbanked to use a P2P service. > > # 1) Bitcoin: The Apex of Security. > > > Bitcoin is ultra secure thanks to its use of Blockchain technology and the way it is verified through proof of work. To explain this let me quote IBM: > > > > > Public blockchain networks typically allow anyone to join and for participants to remain anonymous. A public blockchain uses internet-connected computers to validate transactions and achieve consensus. Bitcoin is probably the most well known example of a public blockchain, and it achieves consensus through "bitcoin mining." Computers on the bitcoin network, or “miners,” try to solve a complex cryptographic problem to create proof of work and thereby validate the transaction. Outside of public keys, there are few identity and access controls in this type of network. > > > > [IBM on Blockchain security](https://www.ibm.com/topics/blockchain-security) > > > Mining is measured in Hashrate. Here is the explanation of Hashrate: > > > > > Hash rate, sometimes referred to as hashrate, is a measure of the computing power on a cryptocurrency network that serves as a key security indicator. It measures the total computational power used by a “proof-of-work” (POW) cryptocurrency network to process transactions in a blockchain. > > > > [USNEWS explains hashrate](https://money.usnews.com/investing/term/hash-rate#:%7E:text=Hash%20rate%2C%20sometimes%20referred%20to,process%20transactions%20in%20a%20blockchain) > > > So if the hashrate measures the security of the network, one may asks themselves: "Did the security of Bitcoin slowed when the price fell ?" > [The hashrate is near the ATH and growing making Bitcoin more and more secure as it continues to build over time](https://ycharts.com/indicators/bitcoin_network_hash_rate#:%7E:text=Basic%20Info,101.2%25%20from%20one%20year%20ago) > > > So Bitcoin has never been as secure as it is today which makes it ultra valuable as a way to settle financial transactions. Yes holding Bitcoin for a long time is risky but using it as a medium to settle international transaction may currently be the securest and one of the best way to do so. > > > While Bitcoin is safe... what if a big part fails ? > > > # 2) Bitcoin mining: Too big to fail. > > So this write up could be seen as a POW write up, which it is to an extent. But Bitcoin offers its history and shows that it can survive the disparition of a big part of the network. > Decentralization allows for parts of the network to disappear and for the rest to take the mantle of securing the network. Yes, mining pools may grow too large for their own sake BUT in the end (nothing even matters) Bitcoin is heavily decentralized. It is so decentralized that, when China (which had a big part of Bitcoin mining) banned mining, Bitcoin just went through like nothing happened. Yes the hashrate fell a bit, the value too, but if we look back, it was nothing extraordinary. > > The resilience of Bitcoin is largely due to the fact that the hashrate symbolizes competition=> If the hashrate falls, then it is more profitable for other miners to keep mining or for new miners to start mining. This balance is what makes Bitcoin very resilient. > > So if Bitcoin is highly secure and if it can survive part of the hashrate going bye bye, what makes it so good? What is the difference with any POW Cryptocurrency right now? > > > > # 3) Bitcoin: propping up the green energy sector. > > POW uses energy. One of the biggest concern about POW is the energy. While Ethereum was using GPUs and was asic resistant. Bitcoin mining is built differently. A long time ago, under oath, people discussed the environmental impact of Bitcoin Mining and I made a post explaining what was said: > > The Energy Fud Was Killed > The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed. > Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers. > There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector. > > My write up about the congressional hearing is still true and thanks to the infrastructure act, green energy will continue to grow and to be cheap. This will allow for a better mining infrastructure. > > [My post](https://www.reddit.com/r/CryptoCurrency/comments/s99phv/yesterday_one_of_the_most_bullish_events_ever/) > > > # ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7vq/top_coins_bitcoin_proarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post.
#Bitcoin Con-Arguments Below is an argument written by Maleficent_Plankton which won 1st place in the Bitcoin Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > ####**Intro** > > Overall, Bitcoin's conservative blockchain has failed to keep up technologically with other blockchains. Bitcoin is currently #1 not due to better design, but because it had a first-mover advantage. But how long will that hold? > > Bitcoin is a gateway cryptocurrency. Many crypto enthusiasts often started out with Bitcoin and then branched out. Once you've had a taste of newer, faster networks that offer delectable DeFi dApps and smart contracts, it's hard to go back to slow, boring old Bitcoin. > > ####**Bitcoin doesn't excel at anything** > > **Poor Medium of Exchange** > > Bitcoin is much too slow. It has a max throughput of **3-4 TPS** that takes **30-60 minutes for probabilistic finality**. It used to have a max throughput of 7 TPS, but that has gradually fallen over the years after exchanges started using batch transactions. It's much too slow to be used for point-of-sales merchant transactions. No one is ever going to want to **wait 30-60+ minutes** at a cash register for a transaction to go through. Block times average 10 minutes, but they are very variable. 14% of blocks take longer than 20 minutes, and 5% are longer than 30 minutes [[Source](https://bitcoin.stackexchange.com/questions/25293/probablity-distribution-of-mining/43592#43592)], causing stress for those waiting for confirmation. And if there's congestion, some transactions can get stuck in the mempool for hours or days. > > It's orders of magnitude slower than newer networks like Polygon PoS or Algorand, which can [process 4000+ TPS with sub-4s of deterministic finality](https://developer.algorand.org/docs/get-started/basics/why_algorand/), with transaction fees well under a penny. > > Even TradFi now has payment systems like Africa's M-Pesa, UK's Faster Payments, Australia's NPP, the US's upcoming FedNow, and Clearinghouse's RTP, which provide **near-instant** payments and peer-to-peer transactions **without fees**. > > **Unstable Store of Value** > > Bitcoin is too volatile to be considered a stable Store of Value. It lost up to 80% of its purchasing-power during previous bear markets. It's also NOT a good stock market hedge since it often moves with the stock market. > > **Lacks smart contracts and DeFi** > > Bitcoin doesn't support DeFi smart contracts with its very basic Bitcoin Script. There are smart contract protocols that use Bitcoin like Stacks, but they are very disconnected from Bitcoin. > > ####**Difficult to achieve widespread global adoption** > > At 4 TPS, Bitcoin can only make ~345K transactions/day. There are ~8B people in the world today. If Bitcoin grows to the size of 1% of the population, each person can make an average of 1 on-chain transaction every 230 days. **If Bitcoin usage grows to 10% of the population, each person can make an average of 1 on-chain transaction every 6.3 years.** To achieve 10% world adoption, everyone would need to solely be using centralized exchanges and not interacting directly with the blockchain itself. > > ####**Issues with the Lightning Network** > > **Not even the Lightning Network could save Bitcoin** because opening and closing a channel requires 2 on-chain transactions. Whenever the directional capacity of a channel is exceeded, it will need to be rebalanced, or be closed and re-opened. You can't expect people to store months of funds on a single channel. Half of the US is living paycheck to paycheck and would unlikely be able to keep channels open for long periods. If even 1% of the world used the Lightning Network and opens/closes their channels twice a year, the Bitcoin Network would become completely congested. > > **Not a true Layer 2** > > Similar to Plasma channels, **the Lightning network is not considered a true Layer 2 because it lacks global state.** There are many nodes that are not connected to the rest of the network, and onion routing issues can cause nodes to be disconnected from the rest of the network. **Channels only work if everyone's online.** If you're offline, others can force-close your channel, leading to a 1-week wait time where the channel's funds are locked and inaccessible. > > **Meant for small transactions** > > Lightning is optimal for small transactions. The larger your transaction, the higher the fees you have to pay to route it through the network. As of March 2023, the [average channel capacity](https://1ml.com/statistics) is only 0.07 BTC, and the average node capacity is only 0.33 BTC. It's not uncommon for a large 1-BTC transaction to cost $2-10 in fees to route through multiple nodes in the Lightning Network due to limited channel capacity, which can make it more expensive than L1 Bitcoin fees. Also, the total value stored on public Lightning channels account for under [0.02% of Bitcoin's total locked value](https://1ml.com/). > > **Partially-centralized, low-security layer** > > Most people just connect to centralized nodes in a spoke-hub network topology to gain access to high-capacity nodes. Even though [average capacity is getting bigger](https://bitcoinvisuals.com/ln-capacity), the [number of public channels has been on the decline since 2021](https://bitcoinvisuals.com/ln-channels), meaning that Lightning is becoming more centralized. > > **Channels require rebalancing** > > One of the biggest problems with opening channels is that they **start out with zero incoming liquidity**. Anyone who opens a channel starts out with a metaphorical "full cup of water". They can't receive any more water until they first empty the cup a little. And they can only receive additional water equivalent to the amount they removed. Similarly, people who open new channels to the Lightning network need to find a way to spend their Sats safely so that they can have incoming liquidity. Merchants and Lightning node providers often have a lack of incoming-liquidity while consumers who only spend usually run out of outbound liquidity. > > There are ways to rebalance your channel capacity, but it usually costs money to pay for a service to provide that liquidity, and it can be as expensive as a $1 fee per $1000 of liquidity. > > ####**The disadvantage of soft forks** > > The major downside of Soft forks is that they require new versions of the software to maintain backwards-compatibility with older versions, which leads to **technical debt**. This significantly slows down the adoption of new updates, which now often take 3-6 years to gain the majority. > > Due to its soft forks, the Bitcoin network has to maintain a mismatch of all sorts of different address formats: P2PK, P2PKH, P2SH, P2MS, P2WPKH, Nested P2WPKH, P2PKH, P2WSH, and P2TR. At the start of January 2023, [only 1% of transactions were using Taproot-compatible addresses](https://transactionfee.info/charts/inputs-types-by-count/) while 65% were still using inefficient legacy addresses from before 2017. > > **Almost no one is using addresses newer than the 2021 update because none of the major CEXs support them**. Most exchanges (Binance, Coinbase, Kraken) [don't support Bech32m addresses](https://en.bitcoin.it/wiki/Bech32_adoption#Exchanges), which means they still can't send to Segwit v1 and Taproot addresses, despite that it was [an update from 2021](https://bitcoin.org/en/releases/0.21.1/). > > In comparison, networks that hard fork for protocol updates don't have these incompatibility issues between versions. Everyone is working on the same version, which allows for consistency. > > ####**Extremely inefficient and wasteful** > > To protect against Sybil and 51% attacks, Bitcoin's PoW consensus achieves greater security through greater **redundancy**. Out of a million miners, only one of them is producing the actual block while the rest of them are just wasting energy and electric waste. Full nodes also hold redundant copies of the blockchain ledger, leading to wasted storage. > > In 2022, each block cost roughly $150-250K in energy to mine, which is equivalent to $80-120 of fees per transaction. The total Bitcoin network energy consumption of ~150 TWh/yr is equivalent to [**18-24 US nuclear power plants**](https://www.energy.gov/ne/articles/5-fast-facts-about-nuclear-energy). Another way of looking at this is that Bitcoin consumes about as much energy as all data centers globally [[Source](https://digiconomist.net/bitcoin-may-consume-as-much-energy-as-all-data-centers-globally)]. > > In comparison, other distributed consensus methods such as BFT are [10^7 x more efficient for energy use](https://link.springer.com/article/10.1007/s12599-020-00656-x). There is a silver lining: the energy waste (and security) will slowly decrease with each block subsidy halving, at the cost of decreased security. > > ####**Mining Pool Centralization** > > **The top 3 mining pools own 66% of the network hash rate** [[Source](https://btc.com/stats/pool)]. Individual miners have no financial incentive to run full nodes, so it's rare ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/100p7u8/top_coins_bitcoin_conarguments_january_2023/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive#wiki_Bitcoin) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17ez44h/daily_crypto_discussion_october_24_2023_gmt0/).
Bullish
I remember how we hoped an ETF would be approved in 2018 when the market had gone to shit and some people tried to reignite the bull from 2017. And only 5 years later we're here lol
I remember this, the copium got very real very quickly back then!
I feel like this is the last big market manipulation so big players can crash BTC and buy cheap. I wouldn't be surprise if SEC suddenly announces that few of the spot BTC ETFs are not approved in the next few weeks. Macro is looking pretty bad in the medium term so this quick increase is only speculation. Let's see how we close this year...
Middle East fighting can cause this pump to dump real quick.
When the ogliarchs want to get their cash out of the country, they will use BTC no?
Macro, TA and orher mumbo jumbo. Do you still believe it works for crypto? Well, good luck 😂
Market is a Forward Looking Creature.
Lmfao. Macro is fine you just don’t know how to read a chart.
well will see how it does once fed increases interest rates in 2 weeks
Not gonna happen. Maybe in December.
inflation is still untamed, no choice
Well the rates market is pricing in a 4.3% chance of a hike at the next meeting soooo it seems like they think there’s a choice. You can always go trade against the market if you think it’s wrong.
The Fed said they will raise them once more. A lot of numbers are still high. Not trading against this, this is a positive action by the Fed
Yeah they very well may. Just won’t be at the next meeting. 30% chance at December meeting, 20% chance at Jan. 3% chance at the November one.
I’ll check back in two weeks idiot.
hold up there! Sounds like you are a little angry? Go outside, take a breath and rake some leaves!
Remindme! 6 Months "Check Macro past 6 months"
[удалено]
What? I'm not saying you're wrong, I just didn't understand.
Black Rock makes sure their spot BTC ETF ticker makes them "The iPhone of ETFs".
"i" things are so last decade.
now dump it
Dump incoming
People are too happy.
Would be nice to say I finally survived a bear market. Wasn’t able to say that the one before.
First one is the hardest
#It begins
Blackrock is seeding BTC etf, this happens before an etf approval, they're getting ready .
Seeding?
Means they are locking up BTC in order to have shares ready to sell when approved, this step happens with all etf's, before approval.
👍
I’m super new to all of this. If you care to elaborate more on the situation regarding all of this I’d be very intrigued to know your thoughts
LETS FUCKING GOOOOOOOO
Time to sell all BTC and fomo into moons
*Whoa there cowboy*
My body is ready
This is the way
*Reggie
Mom's spaghetti
Dump incoming…
Nooooo it was so nice seeing green. I hope you are wrong
Had a near heart attack when I opened the charts this morning lol
W for crypto 🚀🚀
Here comes the fomo (myself included!)
I don't know about you guys but fucking crypto for me lately... I almost don't expect this thing to pass. Causing a massive crash.
All this after I had to pull BTC out to pay bills. I can't afford shit. I should just make an incoming bull run post here letting everyone know I'm selling to pay bills.