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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

#41

Post by Alupis »

koolba wrote: post #36
SilverBirch wrote: post #27

Earlier quoted context omitted.

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.

It’s also the only way for most to get crypto exposure in an IRA. Avoiding the insanity that is crypto tax filings may be worth the risks and fees.

I think this is the huge part - letting retirement accounts dabble in crypto.

For those young enough (or foolish enough) to operate a high-risk/high-growth retirement portfolio, holding crypto can be a large boon. Just the past 365 days of BTC has 162% increase in value.

Re: Spot Bitcoin ETF receives official approval from the SEC

#42

Post by factorialboy »

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!

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.

Re: Spot Bitcoin ETF receives official approval from the SEC

#44

Post by factorialboy »

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.

No no, you just described inflation and taxes.

Re: Spot Bitcoin ETF receives official approval from the SEC

#45

Post by reisse »

moose_man wrote: post #31
maxioatic wrote: post #20

Earlier quoted context omitted.

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

I think they suck just like crypto, these are all mechanisms rigging the economy in favor of the already wealthy. If we don't unrig it we will eventually get civil war. Popular immiseration eventually leads to upheaval. Checkout the book - End Times: Elites, Counter-Elites, and the Path of Political Disintegration by Peter Turchin

Already wealthy? I don't think you know the scene well. HFT probably pulled more physics and math grads out of poverty than any other field.

Re: Spot Bitcoin ETF receives official approval from the SEC

#46

Post by bob_malrey »

factorialboy wrote: post #42
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!

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.

Re: Spot Bitcoin ETF receives official approval from the SEC

#48

Post by nikolay »

factorialboy wrote: post #42
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!

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.

Nobody uses Bitcoin. It's not an alternative to fiat.

Re: Spot Bitcoin ETF receives official approval from the SEC

#50

Post by redcobra762 »

ur-whale wrote: post #40
boeingUH60 wrote: post #28

As my Dad told me, anyone investing in crypto is a fool looking to take advantage of another fool. It’s all Greater Fool Theory.

https://en.wikipedia.org/wiki/Argument_from_authority But I must admit that using your actual dad as the source of authority is quite a stretch.

He's not arguing the position as correct because his dad told it to him. He's not arguing the belief at all, he's just stating it.

So no, it's not an argument from authority.

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