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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

#811

Post by tnel77 »

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…

Imagine being this paranoid. I believe you and your money are safe. Have a nice day!

Re: Spot Bitcoin ETF receives official approval from the SEC

#812

Post by tnel77 »

rahmansahinler1 wrote: post #677
benlivengood wrote: post #287

Finally a workaround for high transaction fees! This should also solve the scalability issues quite a bit by reducing the need to record as many transactions in the first place once the exchanges hold most of the coins. Finally this should reduce the long-term potential in mining as the block reward keeps reducing exponentially with lower expectations of transaction fees. Sometimes regulatory solutions do fix hard te…

Does this sound you like a solution? There is no another tech invented for reducing gas fees and increase the speed. They just now have acceess to create new fake bitcoins like 'money' and have authorize over it. What is the difference betweeen this new printed bitcoin and the money?

Can you elaborate on “new printed Bitcoin?” Are you referring to the block rewards or the new ETF shares?

Re: Spot Bitcoin ETF receives official approval from the SEC

#814

Post by shaman1 »

npoc wrote: post #717
TrackerFF wrote: post #704

Earlier quoted context omitted.

If we're going to look at it from a fundamental perspective - what drives people to purchase BTC? I don't know about you, but close to 100% of everyone I know that have bought BTC (and other coins, for that matter) the past 5-10 years have done it in hopes of it going to the moon. The bitcoin maxis are at this point a fringe movement, a distant past, really. If you put all your savings on index funds, there is some p…

I have all my savings stored in bitcoin. I do it because I've spent 100s of hours learning what money really is and can see that bitcoin is the best form of it, certainly the best long term store of value. I also know that the best long term store of value will ultimately be where the world's stored value is moved to.

Are you hoping for it to remain the same or are you hoping for an increase compared to usd? Asking because you mentioned stored. What if you could buy shares with btc? If value just sits there and is not used in a productive way - things companies try to do - you're subscribing to a very static world view. It might make sense if you are close to retirement - where people usually move to stable assets - but generally you want your assets to be used in a productive way rather than hidden away.

Re: Spot Bitcoin ETF receives official approval from the SEC

#815

Post by TrackerFF »

npoc wrote: post #788
Gareth321 wrote: post #732

Earlier quoted context omitted.

I like your courage, but you really should diversify. Life is long and none of us have a crystal ball. If you don't trust USD, get some other currencies, including crypto. Get some property. Gold. Bonds. Stocks. Savings. Shit happens and you need to defend your portfolio as well as maximise profits.

No way. I came for the gains but I'm staying for the revolution. It doesn't take resolve, only 100s of hours of learning and contemplation. I'll die on this hill, and there's many more like me.

Your money, your call.

But I'm wondering - why wouldn't you invest in business? Business are, after all, the drivers of economy.

While cryptocurrencies could theoretically grow to "infinite" (finite supply and all. combined with fiat monetary policies), there must be some realistic limit to the growth, where the price starts to converge. For BTC, that price is somewhere in the single digit millions. Could make a long post of how I came up with that figure, but basically assume that everyone owning any assets in the world manage to liquidate those, and go all in on BTC, nothing else. Combined with investing newly minted fiat into BTC. (Never mind the economical consequences of public companies being worth close to zero $, and people only spending their money on BTC)

So let's say that BTC "only" has a theoretical maximum of, say, 100x increase from the current price. (but more realistically 10x-20x)

If you really wanted to make a killing, wouldn't it be better to also invest in revolutionary companies? NVIDIA has jumped 100x the past 10 years. There will likely be other NVIDIAs out there.

Obviously this wouldn't mean as much if you're a longtime holder, but from the perspective of a fresh investor, that's where one stands right now.

Re: Spot Bitcoin ETF receives official approval from the SEC

#816

Post by cesarb »

TheCapeGreek wrote: post #475
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…

>Bitcoin also doesn't need the approval of any person, police force, legislative body, military, or government. If you start from scratch with a non-exchange wallet and get paid in BTC for something to it, sure. But if you want to get in with any fiat, you're going through an exchange, which means KYC, which means you definitely need the approval of the exchange (and by proxy your local government/tax authority). It…

> If you start from scratch with a non-exchange wallet and get paid in BTC for something to it, sure.

I believe the original idea was that, to start from scratch, you would just leave the Bitcoin software running on your computer for a while, since that software not only hosted your wallet but also contained a miner. After a while, you would get lucky and receive 50 Bitcoins.

Of course, that stopped working once mining moved to FPGA and then to ASIC; even with GPU mining software, an individual user has no hope of mining any relevant amount of Bitcoin. That bootstrap mechanism is now completely dead, and the only way to get new Bitcoins is to get them from someone, buy them in an exchange, or invest lots of money in specialized Bitcoin mining hardware.

Re: Spot Bitcoin ETF receives official approval from the SEC

#817

Post by factorialboy »

lxgr wrote: post #150
factorialboy wrote: post #42

Earlier quoted context omitted.

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.

As a hedge of what against what? > if the Feds keep on printing USD under political pressure Have you looked at the economy in the last two years? The Fed has been burning USD at an unprecedented rate!

> Have you looked at the economy in the last two years?

Try the last 3 years. Or last 4. Or last 40 years.

They are desperately trying to control money printing (oops sorry, quantitative easing) with high interest rates, but I'm sure they'll be forced to bend to political pressure in an election year.

U.S. needs an extremely tight monetary regime for two decades, to be viable long term. And the big funds will hedge. BTC is one of those hedges.

Re: Spot Bitcoin ETF receives official approval from the SEC

#818

Post by Gazoche »

npoc wrote: post #788
Gareth321 wrote: post #732

Earlier quoted context omitted.

I like your courage, but you really should diversify. Life is long and none of us have a crystal ball. If you don't trust USD, get some other currencies, including crypto. Get some property. Gold. Bonds. Stocks. Savings. Shit happens and you need to defend your portfolio as well as maximise profits.

No way. I came for the gains but I'm staying for the revolution. It doesn't take resolve, only 100s of hours of learning and contemplation. I'll die on this hill, and there's many more like me.

You sound like you are in a cult.

Re: Spot Bitcoin ETF receives official approval from the SEC

#819

Post by marenkay »

Yodel0914 wrote: post #517
marenkay wrote: post #467

Earlier quoted context omitted.

I lived in capitalism for 50 years. I’ve seen hyper capitalism reduce or remove education, devalue income and Labor, force people to work two or three jobs to survive barely. That’s in a western society where capitalism is supposed to work. If anyone thinks the good it did is anything but an accident I expect some people will be really surprised when it turns out how bad things are. At this point it’s ignorant to not…

I apologize if I'm wrong, but "3 jobs to survive" sounds like you're living in the US. I don't think equating the US political and economic system with "capitalism" is particularly useful - it is a capitalistic society, for sure, but it is far from the only one. The US is, for whatever reason, accepts extremes of both wealth and poverty. Many other capitalistic societies choose a different mix, sacrificing the upper…

Nope, we are talking about Europe.

Re: Spot Bitcoin ETF receives official approval from the SEC

#820

Post by cesarb »

obviouslynew wrote: post #319
kemotep wrote: post #263

Earlier quoted context omitted.

Is it possible that you can understand bitcoin and still not like it?

Sure as long as you realize its simply an opinion and not act like it's a fact that it's bad. Fundamentally it feels like every time these threads open up on HN 70% of it is bad faith, repeat arguments. Don't like Bitcoin's Proof of work properties, check out Ethereum. Don't think that everything needs to be on one central ledger? Check out Polkadot. It feels like so many commenters here put their heads in the sand a…

> Don't like Bitcoin's Proof of work properties, check out Ethereum.

Ethereum's move to a Proof-of-Stake system was the best thing to happen to the cryptocurrency world, from an ecological point of view; however, that does not change anything about Bitcoin's energy consumption.

Someone who objects to Bitcoin due to its excessive energy use will not stop disliking Bitcoin just because an unrelated cryptocurrency became better.

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