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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

#751

Post by genge »

Nursie wrote: post #715
AnthonyMouse wrote: post #674

Earlier quoted context omitted.

> They can happily regulate on and off ramps, and enforce traceability etc for anything that touches the 'real' economy though, should they wish. But what good is that? All you get is traceability for people with nothing to hide. You can't actually prevent on and off ramps because anybody could go to the black market digital currency dealer (whose operations are conveniently situated near the local drug dealer) and e…

That Bitcoin becomes un-resellable as it has gone through un-sanctioned addresses.

How exactly would it become un-ressellable. Agreed, you would have to remain in the black market, but you cannot censor a transaction.

Re: Spot Bitcoin ETF receives official approval from the SEC

#752

Post by roenxi »

Nursie wrote: post #715
AnthonyMouse wrote: post #674

Earlier quoted context omitted.

> They can happily regulate on and off ramps, and enforce traceability etc for anything that touches the 'real' economy though, should they wish. But what good is that? All you get is traceability for people with nothing to hide. You can't actually prevent on and off ramps because anybody could go to the black market digital currency dealer (whose operations are conveniently situated near the local drug dealer) and e…

That Bitcoin becomes un-resellable as it has gone through un-sanctioned addresses.

No argument there; but if you're interested the tech does exist to solve that problem. https://www.getmonero.org/ . It is obfuscated to the point where transactions and ownership can't be tracked.

Re: Spot Bitcoin ETF receives official approval from the SEC

#753

Post by helsinkiandrew »

bluecalm wrote: post #737

Is there any guarantee that if this goes wrong (let's say ETF's are hacked and lose their BTC) then assets in other ETF's are safe? Let's say BlackRock ends up on the hook for billions after their BTC ETF goes wrong. Are my shares in iShares NASDAQ 100 ETF safe? I want to make sure I don't have any exposure to crypto world by owning stock ETFs. If there is any scenario that I am on the hook for crypto nonsense going…

> Is there any guarantee that if this goes wrong (let's say ETF's are hacked and lose their BTC) then assets in other ETF's are safe?

They're as safe as any other share or ETF of a company that could be hacked or robbed/suffer a disaster of some kind, or indeed any regulated bank, broker, exchange etc. As the BTC securities would be a small part of the total value of the Organisations holding them - I would assume that they would be capable of making up of any losses to holders due to their screw up (as happened when Nickel was stolen from a warehouse that was used as backing for Nickel futures contracts).

However, any other external crypto nonsense going south would likely cause BTC to drop!

Re: Spot Bitcoin ETF receives official approval from the SEC

#754

Post by genge »

OsrsNeedsf2P wrote: post #624
amjnsx wrote: post #606

Earlier quoted context omitted.

No there is a hard limit of 21m Bitcoins. You can't just "print more". Yes it's possible to trade "paper bitcoins" but if you don't own the underlying asset you are always at risk of being found out and not being able to cover the amount.

So the only difference between Bitcoin and stocks in 2024 is that stocks are backed by an actual underlying company. Nice.

The difference is that the US can back one by printing more money, and they can't print more bitcoin.

Re: Spot Bitcoin ETF receives official approval from the SEC

#755

Post by JustinGoldberg9 »

qwytw wrote: post #667
npoc wrote: post #633

Earlier quoted context omitted.

Bitcoin equalises this. USD is going to hyper-inflate to 0 relative to bitcoin, and bitcoin will ultimately be the world reserve asset.

> world reserve asset. Except it's extremely unsuited for this purpose despite of what some delusional people might be thinking. No (at at least semi stable) country ever will use bitcoin as their primary reserve asset...

John Nash has a great essay which predicted Bitcoin.

https://onlinelibrary.wiley.com/doi/abs/10.1002/j.2325-8012....

Re: Spot Bitcoin ETF receives official approval from the SEC

#756

Post by qwytw »

npoc wrote: post #726
qwytw wrote: post #669

Earlier quoted context omitted.

> Bitcoin is a hard money that takes the best monetary qualities of both fiat and gold Not it doesen't. Also bitcoin is not money (why do people keep claiming this?), it's a speculative asset.

> Not it doesen't. Okay

Why would you expect anyone to waste time making any substantive arguments against silly claims like "Bitcoin is money"..

Re: Spot Bitcoin ETF receives official approval from the SEC

#757

Post by genge »

ent1ty wrote: post #599

With quantum computing growing rapidly, aren't all blockchains in danger of being decrypted and drained in the future?

There are quite some papers on making BTC quantum resistent (and some already are). Here a good podcast on it https://www.youtube.com/watch?v=g-Y4PT8va94

Re: Spot Bitcoin ETF receives official approval from the SEC

#758

Post by herbst »

soVeryTired wrote: post #688
herbst wrote: post #641

Earlier quoted context omitted.

Can you use stocks to trade with others worldwide in realtime with a super low fee and full control over the payment process? Bitcoin still is a lot more than just that

Traditionally you just use money to do that.

You don't. It's illegal to travel with more than $X over boarder Y. Embargos and different banking systems and culture make 'bank transfers' inaccessible to a majority of people in this world.

The only alternatives are western union and other private companies with 10+% fees or hidden private banking networks like 'Hawala'.

Re: Spot Bitcoin ETF receives official approval from the SEC

#759

Post by herbst »

gigatexal wrote: post #722
herbst wrote: post #645

Earlier quoted context omitted.

Why would ETFs become a main way? Bitcoin is still a currency, can I trade, holdl or spend my ETFs?

By definition you can do all 3. Spend by selling convert to fiat and then buy whatever you want. "Holdl"(sic) just say long despite what sanity or logic says. Trade buy/sell like anything else.

I can sell the art on my wall and spend the earned money. That doesn't make art a currency or spendable. Trading and holding sure sounds possible :)

Re: Spot Bitcoin ETF receives official approval from the SEC

#760

Post by JustinGoldberg9 »

Nursie wrote: post #715
AnthonyMouse wrote: post #674

Earlier quoted context omitted.

> They can happily regulate on and off ramps, and enforce traceability etc for anything that touches the 'real' economy though, should they wish. But what good is that? All you get is traceability for people with nothing to hide. You can't actually prevent on and off ramps because anybody could go to the black market digital currency dealer (whose operations are conveniently situated near the local drug dealer) and e…

That Bitcoin becomes un-resellable as it has gone through un-sanctioned addresses.

There will always be other exchanges or micro exchanges or something like lightning stores which will accept the tainted Bitcoin.
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