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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

#21

Post by moose_man »

RandomLensman wrote: post #17
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.

Why would it be in passive funds or do mean it will become part of the asset allocation of pension funds and the like?

Yeah, crypto people want to recreate the current system but with themselves in charge. It's not about decentralization. They want to carbon copy the current economy but putting a small number of holders to lord over the "nocominers"

Re: Spot Bitcoin ETF receives official approval from the SEC

#22

Post by ur-whale »

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!

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

Re: Spot Bitcoin ETF receives official approval from the SEC

#23

Post by rurp »

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.

So "winning" for Bitcoin has now come to mean becoming a boring traditional security that doesn't do much of anything else? That's awfully different from what 99.9% of Bitcoin optimists have spent years claiming the future would be.

Authorizing Bitcoin ETFs does absolutely nothing to revolutionize payments or finance, and is the only positive crypto story I have seen in many months.

Re: Spot Bitcoin ETF receives official approval from the SEC

#24

Post by kasey_junk »

yieldcrv wrote: post #7

all it took was a judge declaring the SEC’s prior view toward bitcoin ETFs to be arbitrary and capricious and the SEC thinking about appealing but realizing this absolutely based SCOTUS would delete the SEC like Thanos if they ever get taken beyond circuit appeals court by the private sector markets win

The Supreme Court heard arguments in November on the constitutionality of the SEC.

Re: Spot Bitcoin ETF receives official approval from the SEC

#25

Post by trompetenaccoun »

mmvvddhh wrote: post #9
moose_man wrote: post #5

This is so sad. Crypto (including Bitcoin) serves as a money funnel while takes from economically insecure middle class retail investors and pours it into the pockets of the tremendously wealthy.

Yeah just like USD.

Not exactly the same. Fiat currency like the USD redistribute a lot of wealth from users into the pockets of the central bank/government through unlimited base inflation, which they control. Bitcoin does not have that, its inflation rate is fixed by the protocol and only ever falling. In April this year it will fall to 0.875%.

Re: Spot Bitcoin ETF receives official approval from the SEC

#26

Post by miohtama »

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.

A lot of people in software industry have tendency to reflexive negativity*, as people selected to become software developer often have a tendency to seeing things in their own limited scope, and not the in the scope of others.

https://www.linkedin.com/pulse/reflexive-negativity-jess-mac...

Re: Spot Bitcoin ETF receives official approval from the SEC

#27

Post by SilverBirch »

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.

A Bitcoin ETF is literally the antithesis of the crypto project. It’s a centralised, highly regulated trad-fi product.

Also, no one is going to end up accidentally investing in crypto, these ETFs are going to be super niche products.

Re: Spot Bitcoin ETF receives official approval from the SEC

#29

Post by ESTheComposer »

maxioatic wrote: post #20
moose_man wrote: post #5

This is so sad. Crypto (including Bitcoin) serves as a money funnel while takes from economically insecure middle class retail investors and pours it into the pockets of the tremendously wealthy.

Haven't heard this take before. What are your thoughts on high frequency trading shops and the regular stock market?

This guy is in every single crypto thread here spouting anti crypto nonsense. Don't expect an actual in depth take.

Re: Spot Bitcoin ETF receives official approval from the SEC

#30

Post by wmf »

schemescape wrote: post #6

In the hypothetical case that a Bitcoin ETF gets hacked and its wallet(s) emptied, what happens? Is it any different from, say, a gold ETF having its physical gold stolen?

I will note that the ETFs are using Coinbase, Gemini, and Fidelity for custody. These companies have been providing Bitcoin custody for years without being hacked AFAIK.
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