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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

#221

Post by fragmede »

transcriptase wrote: post #194
lxgr wrote: post #189

Earlier quoted context omitted.

How many people even have a safety deposit box? Many banks don't offer them anymore, and in some countries they have a disturbing tendency of getting robbed, with absolutely no recourse for the depositors (since contents are usually unverified and uninsured).

Then buy a large fire safe, bolt it to your floor inside a closet, and fill it with 10 lb barbell plates until it requires a forklift to move. If your threat model includes someone inside your home with power tools and you can’t trust a bank… you might want to consider moving.

That's cool. What do I do when I move every few years because I'm a renter and can't afford to own a home in this economy?

Re: Spot Bitcoin ETF receives official approval from the SEC

#223

Post by stefan_ »

Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

It must be peak irony to write this on the topic of a Bitcoin ETF. None of the technology, all of the speculation.

Re: Spot Bitcoin ETF receives official approval from the SEC

#224

Post by maxioatic »

siwatanejo wrote: post #156
maxioatic wrote: post #77

Earlier quoted context omitted.

But then I have to pay taxes on it. Time to full send my retirement accounts into these ETFs so I can retire early. /s Actually though I might consider allocating a tiny percentage (1-3%) to these. Seems like fairly low risk with enough upside, but who knows.

What do you mean? self-custodying BTC is still unrealized gains until you sell, so no tax either.

I was referring to the capital gains tax you pay for selling BTC on an exchange. I was thinking specifically about Roth IRAs, where any gains are tax free, but a 401k or similar would work too.

Re: Spot Bitcoin ETF receives official approval from the SEC

#225

Post by hn_throwaway_99 »

Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

> Unlike every other attempt at electronic cash that came before it, Bitcoin also doesn't need the approval of any person, police force, legislative body, military, or government.

But then can't you see the irony of writing that sentence when the article title is literally "Spot Bitcoin ETF receives official approval from the SEC".

That's the thing that's so baffling to me - if you're saying BTC is so great that it doesn't need the support of government and social institutions, why the push so hard to get an ETF (multiple in fact!) when the rallying cry for crypto has always been "distributed, trustless currency".

Re: Spot Bitcoin ETF receives official approval from the SEC

#226

Post by snapcaster »

jrmg wrote: post #187

What’s the difference between this and e.g. GBTC?

GBTC is becoming an ETF, so shortly the answer will be "nothing". But, currently it's not an ETF or equivalent because you can't redeem the shares of the ETF for the underlying asset. This has resulted in the price of GBTC diverging significantly from the price of bitcoin since you don't have that natural ability to arbitrage away and price differences with redemptions

Re: Spot Bitcoin ETF receives official approval from the SEC

#227

Post by Timber-6539 »

MuffinFlavored wrote: post #209
simonw wrote: post #207

Earlier quoted context omitted.

What needs and wants is it fulfilling for you?

Me guessing (as somebody who is anti-crypto): they like how it returns ~50-100% year over year pretty much. I swear I saw some super highly upvoted comments that read as normal + level-headed in r/CryptoCurrnecy that was like "if it goes from $45k -> $100k this year it isn't even that much" Do you ever hear Warren Buffet saying "122% yearly returns are meh"?

Yep, crypto bros will get in bed with the same banks that screwed them over in 2008 if the end goal means that the price of their coin (ahem) bags.. go up.

The whole Bitcoin 'manifesto' and sticking it to the man is just a ruse.

Re: Spot Bitcoin ETF receives official approval from the SEC

#228

Post by fragmede »

0x0 wrote: post #172
jabits wrote: post #121

Earlier quoted context omitted.

I don’t think you quite understand. One ounce of gold or one bitcoin is indistinguishable from any other, i.e. fungible. Also, limited in number and scarcity only partly define value. In addition to these properties, other people must agree with you. If your flat rocks are scarce and people want to invest in them, by all means…

One bitcoin is very much distinguishable from another bitcoin as they can be traced through transactions and wallets, with the outcome that some bitcoins might be rejected by recipients that are uncomfortable with certain source wallets or mixers.

There's no way for a wallet to block incoming transfers. If someone sends Bitcoin to an address, the transfer will be processed by the network.

Re: Spot Bitcoin ETF receives official approval from the SEC

#229

Post by david_shi »

Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

The OG hacker spirit is still alive in the crypto community

Re: Spot Bitcoin ETF receives official approval from the SEC

#230

Post by david_shi »

hn_throwaway_99 wrote: post #225
Octokiddie wrote: post #205

The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…

> Unlike every other attempt at electronic cash that came before it, Bitcoin also doesn't need the approval of any person, police force, legislative body, military, or government. But then can't you see the irony of writing that sentence when the article title is literally "Spot Bitcoin ETF receives official approval from the SEC ". That's the thing that's so baffling to me - if you're saying BTC is so great that it…

This is circular reasoning. It doesn't need the approval, what it shows is official capitulation to a "distributed, trustless currency".

That's the big news.

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