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Spot Bitcoin ETF receives official approval from the SEC

cointelegraph.com

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Re: Spot Bitcoin ETF receives official approval from the SEC

#101

Post by rkagerer »

fancyfredbot wrote: post #52
ur-whale wrote: post #22

Earlier quoted context omitted.

While I agree with the sentiment, please remember that actually buying BTC directly and doing self-custody is still an option.

So much more hassle though. Nobody's going to bother with that now - what's the point?

It's not really that hard, and the tools are continually evolving to be more user friendly (e.g. Last year Trezor added hardware support to simplify Shamir backup).

Of course the ability to hit "buy now" in the same marketplace you manage all your other investments is pretty low friction and I'm sure this decision will bring fresh investment out of the woodwork.

Re: Spot Bitcoin ETF receives official approval from the SEC

#102

Post by rkagerer »

bob_malrey wrote: post #71
fancyfredbot wrote: post #52

Earlier quoted context omitted.

So much more hassle though. Nobody's going to bother with that now - what's the point?

But what’s the point of Bitcoin then? They might as well put anything in these ETFs and it’d be the same thing then: the flat rocks in my garden are limited in number and very scarce, wanna put some in an etf?

Maybe, but my rocks are better, faster, and more scalable!

Frankly we could probably get our rock ETF's approved more quickly. Regardless of how you feel about Bitcoin, it's not (or shouldn't be) the SEC's place to play nanny and dictate the particular assets/commodities/etc. in which you're allowed to invest your money. Incidentally even one of SEC commissioners agrees https://www.sec.gov/news/statement/peirce-statement-spot-bit...

Re: Spot Bitcoin ETF receives official approval from the SEC

#103

Post by Workaccount2 »

factorialboy wrote: post #98
bob_malrey wrote: post #46

Earlier quoted context omitted.

How would that be better than holding gold? Fees for large transactions of btc are getting higher than the cost of physically moving gold anyway, and the chances to lose it or get it stolen are higher.

Strawman. I never claimed Bitcoin is the only hedge. Certainly gold has it s place. Lightning network fees are negligible. So that argument doesn't hold either.

Lighting network isn't really bitcoin though. More like an optional bolt on peripheral network with it's own set of issues.

Re: Spot Bitcoin ETF receives official approval from the SEC

#104

Post by nullc »

fancyfredbot wrote: post #13

Satoshi's dream of a decentralised ledger finally reaches its ultimate form of a centralised list maintained by the DTC. Rejoice!

Some people own bitcoin only because they expect its value to increase due to demand from others. There is nothing inherently invalid about this-- speculation occurs in all kinds of valuable assets and it serves the public good of creating a demand buffer.

For those parties, bitcoin's general properties are not very relevant and a centeralized list maintained by DTCC may well better serve their particular needs. To the extent that it does: more power to them!

Re: Spot Bitcoin ETF receives official approval from the SEC

#105

Post by dovakin »

rkagerer wrote: post #102
bob_malrey wrote: post #71

Earlier quoted context omitted.

But what’s the point of Bitcoin then? They might as well put anything in these ETFs and it’d be the same thing then: the flat rocks in my garden are limited in number and very scarce, wanna put some in an etf?

Maybe, but my rocks are better, faster, and more scalable! Frankly we could probably get our rock ETF's approved more quickly. Regardless of how you feel about Bitcoin, it's not (or shouldn't be) the SEC's place to play nanny and dictate the particular assets/commodities/etc. in which you're allowed to invest your money. Incidentally even one of SEC commissioners agrees https://www.sec.gov/news/statement/peirce-state…

Well as a matter of fact btc is none of these things compared to any other crypto, which are themselves not particularly any of these things.

But I agree with the fact it’s not the SEC’s role to tell us the merit of btc. I do have some worries on the Tether scam still going on for example though, which has been manipulating BTC for years.

Re: Spot Bitcoin ETF receives official approval from the SEC

#106

Post by RandomLensman »

trompetenaccoun wrote: post #94
RandomLensman wrote: post #35

Earlier quoted context omitted.

Not sure I'd call that an inflation rate as it doesn't factor in any baskets of goods and services.

Monetary inflation (i.e. in it's purest form increasing the monetary base by "printing" more) is not necessarily the same as what you probably mean by 'inflation rate'. You're probably talking about price inflation, using CPI. Those are linked but not the same. Bitcoin "prints" around 1.74% currently and it's going to drop below 1% in April. The USD, although one of the more stable fiat currencies, is worlds apart fr…

Exactly. "Inflation rate" usually denotes price inflation not change in monetary base or similar measures. More money in circulation can mean price inflation, but it doesn't need to.

Re: Spot Bitcoin ETF receives official approval from the SEC

#107

Post by nullc »

bob_malrey wrote: post #46
factorialboy wrote: post #42

Earlier quoted context omitted.

Sarcasm aside, this is the ultimate endorsement. The likes of Blackrock could use BTC as a hedge if the Feds keep on printing USD under political pressure.

How would that be better than holding gold? Fees for large transactions of btc are getting higher than the cost of physically moving gold anyway, and the chances to lose it or get it stolen are higher.

Gold has an inferior tax treatment.

Gold has considerable storage/security costs compared to Bitcoin.

Gold has considerable fake risks/costs compared to Bitcoin.

The supply of gold is continually inflated by mining (also true for Bitcoin though the mining rate in bitcoin decreases over time).

Re: Spot Bitcoin ETF receives official approval from the SEC

#108

Post by npoc »

ESTheComposer wrote: post #14
monero-xmr wrote: post #8

The death of crypto was written endlessly on HN. The investor activity is much more bullish over last 6 months. I think the only hot VC right now in all of tech is AI and blockchain. Now a lot of people here will be investing in Bitcoin without even knowing it, as their passive fund investments begin accumulating. The sweet victory against the no coiners.

People in HN are in a massive bubble; you see it with other topics too. It's nice to look here for some tech sentiment and interesting article sometimes, but for most cutting edge stuff this forum is always full of naysayers.

There's a fair amount of ill-placed arrogance. It seems that the majority on this board confidently and incorrectly believe that they know all there really is to know about bitcoin. Essentially that it's a scam that wastes energy.

If you try to help them understand, you're generally attacked as if you are shill, and then they continue along in their ignorant bubble. It's a shame, but their attitude isn't conducive to me losing any sleep.

You buy bitcoin at the price you deserve.

Re: Spot Bitcoin ETF receives official approval from the SEC

#109

Post by houseatrielah »

fancyfredbot wrote: post #52
ur-whale wrote: post #22

Earlier quoted context omitted.

While I agree with the sentiment, please remember that actually buying BTC directly and doing self-custody is still an option.

So much more hassle though. Nobody's going to bother with that now - what's the point?

Save approx. 1% on fees annually is the point.

Re: Spot Bitcoin ETF receives official approval from the SEC

#110

Post by houseatrielah »

bob_malrey wrote: post #46
factorialboy wrote: post #42

Earlier quoted context omitted.

Sarcasm aside, this is the ultimate endorsement. The likes of Blackrock could use BTC as a hedge if the Feds keep on printing USD under political pressure.

How would that be better than holding gold? Fees for large transactions of btc are getting higher than the cost of physically moving gold anyway, and the chances to lose it or get it stolen are higher.

World gold supply inflates at 2% per year due to mining. That's an key point of the Stock2Flow model.
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