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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

#231

Post by elwell »

bodiekane wrote: post #83
elwell wrote: post #43

Earlier quoted context omitted.

> anyone investing in crypto FTFY: anyone investing

It's sad people are so financially illiterate. Buying partial ownership (shares) in a real company that makes a product or service profitably, or loaning money to a person or business that will be paid back with interest, are both ways to invest capital which can increase in value with no "greater fool". Apple stock isn't worth more today than in 1990 because people arbitrarily agreed upon a bigger number, it's worth…

It's the same fundamental thing. Apple stock is worth more because future people believe it to be worth more. The 'why' behind that is also the same: people believe that the product has value. Even deeper, people believe that their life has value. It's all the same fundamentally.

Re: Spot Bitcoin ETF receives official approval from the SEC

#232

Post by clpmsf »

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…

People will always have a want for more ways/things to bet/gamble on - it just seems to be something in our nature.

Re: Spot Bitcoin ETF receives official approval from the SEC

#233

Post by mlcrypto »

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's hard for humans to put ego aside and admit they were wrong. Also hard to put emotion aside and forget the pain of missing out from $100 to $45k.

I think there's still an easy 10X to match Gold and 100X is possible if it becomes the world's preferred reserve asset

Re: Spot Bitcoin ETF receives official approval from the SEC

#234

Post by blep_ »

nikolay wrote: post #89
michaelt wrote: post #80

Earlier quoted context omitted.

Simply divide your BTC into paper wallets in a variety of sizes from $5 to $100, and when you need to make a transaction, mail the right combination of wallets to the person you want to pay. /s

Mailing costs money, too; it's slow, and there's no proof that I've made the transfer. Plus, if that person wants to consolidate their funds, they will have to pay the crazy costs still, i.e. they will put it into their pricing model! How about comparing apples to apples?!

And the receiver has no guarantee that I didn't photocopy the paper before mailing it.

Re: Spot Bitcoin ETF receives official approval from the SEC

#235

Post by block_dagger »

xpressvideoz wrote: post #215
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…

What you're missing is something can be criticized even if it fulfills some needs. Drugs, gambling, crimes all satisfy some people's needs but most people have negative view on them.

Drugs and gambling do not hurt others. Throwing “crimes” in makes your reasoning weak. Where are you getting your data on the first two? I’m not sure you’re correct.

Re: Spot Bitcoin ETF receives official approval from the SEC

#236

Post by paulpauper »

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.

so does many things. Las Vegas for example. even new cars lose most value in a few years. People like to gamble.

Re: Spot Bitcoin ETF receives official approval from the SEC

#239

Post by lucw »

hackernudes wrote: post #144

The only thing I am concerned about is "paper bitcoin" and rehypothecation. Is there anything published about how ETF entities might prove they have custody of the amount of bitcoin they claim (in other words, proof of reserves)?

With ETFs, you don't need to be concerned with reserves. I can buy the ETF, go to the market-makers, and ask them to exchange the ETF for either bitcoin, or a cash equivalent. If they can't deliver, they're in trouble.

There's a two way arb in ETFs which keeps the price tracking accurate: - if the ETF trades higher than bitcoin on crypto exchanges: the market makers can simply buy bitcoin on exchange, sell the ETF on traditional exchanges: do this enough and the price difference narrows. - if the ETF trades lower than bitcoin on crypto exchanges: I can just buy the ETF, ask to redeem to bitcoin and pocket the difference. Sooner or later this price discrepancy goes away.

Re: Spot Bitcoin ETF receives official approval from the SEC

#240

Post by rafaelero »

simonw wrote: post #207
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…

What needs and wants is it fulfilling for you?

Bitcoin is wealth in the cloud. There's immense utility in being able to digitalize your wealth, including higher mobility and, since it is a decentralized network, assurance that it won't be inflated, confiscated and that you will have the freedom to transact it with whoever you want.
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