Spot Bitcoin ETF receives official approval from the SEC

Post by AlexandrB » Thu, Jan 11, 2024, 4:06 AM UTC

738292748 wrote: post #387

wlesieutre wrote: post #330

Earlier quoted context omitted.

If people want to say “I’m a bitcoin fanboy” to justify it that’d be one thing, but there’s always this insinuation that any day it’s going to find its killer use case that isn’t already solved better by a centralized system instead of only existing to buy in hopes of the price goes up

The killer use case has existed from day 1: remove the middleman. That is banks, or goverments. That's it. There's literally nothing else to it. Speculating on its value, while possible, has nothing to do with its purpose.

Post by yieldcrv » Thu, Jan 11, 2024, 4:07 AM UTC

charlie0 wrote: post #376

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

fr... on god, this BTC ETF is bussin

Post by AlexandrB » Thu, Jan 11, 2024, 4:10 AM UTC

mlcrypto wrote: post #233

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

Post by AlexandrB » Thu, Jan 11, 2024, 4:13 AM UTC

reaperman wrote: post #304

killerstorm wrote: post #266

Earlier quoted context omitted.

It provides an alternative to banks. Once you realize that banks are very fragile and abusive, just having this alternative is important. Banks can deny you access to your money on a whim. Compliance, glitch, failure, whatever. You can't use your money. You can't buy food. You can't pay rent. You can't buy tickets. You can't hire a lawyer. It's nice to have something which is based on completely different principles.

I think you'll be amazed at the extent to which BTC will be able to be controlled by strong central governments. I'd be shocked if in ten years there's not granular control over which wallets contain "tainted" bitcoin and cannot be converted to fiat except through actual money laundering. There's been a lot of consolidation of the exchanges in USA, tons of KYC controls in place now, and old-school options like localb…

Post by marenkay » Thu, Jan 11, 2024, 4:14 AM UTC

a_gnostic wrote: post #399

marenkay wrote: post #392

Earlier quoted context omitted.

Bitcoin just like capitalism is a horrible failure making life worse for humanity and no proof exists it made anything better. Both accelerate the destruction of the planet and humanity. It’s ridiculous to claim any of this is good just because you think you have a chance to get some imaginary part of the big cake.

Bitcoin saved my cousin from starvation. Can the same be said for anti-capitalism, eg. Communism? Nope, because Holodomor.