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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

#931

Post by miohtama »

iSnow wrote: post #701
miohtama wrote: post #19

For the Gary Genler's comment (and the opinion of a lot of commenters on Hacker News): > Though we’re merit neutral, I’d note that the underlying assets in the metals ETPs have consumer and industrial uses, while in contrast bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7] You can fin…

Sounds like he would have loved to deny again, but the court forced his hand.

Yes, the push against crypto is a partisan issue in the US: Democrats hate crypto after they accepted stolen campaign donation money from Sam Bankman-Fried of FTX. The worst thing you can do for politicians is to make them look bad.

Re: Spot Bitcoin ETF receives official approval from the SEC

#932

Post by spaceman_2020 »

gigatexal wrote: post #844
spaceman_2020 wrote: post #771

Earlier quoted context omitted.

This is a very first world, privileged perspective. There are billions of people in the world who don't have access to stable local currencies or payment systems. I've personally hired people in Africa and Phillippines who prefer being paid in stablecoins than their local currencies (not that there is an easy way to pay them in their local currencies).

oh it very much is a priviledged take -- but the solution isn't to replace something when it's broken but fix the existing thing and the thing here would be governments and their policies towards their money and central banks if they have them. the fiat system of currencies has worked and could work but wholehearted replacement of them is akin to just throwing up one's hands and not vying to fix the underlying proble…

> fix the existing thing and the thing here would be governments and their policies towards their money and central banks if they have them

Yes, this is just so easy to do in war torn dictatorship! Just get your often undemocratically elected government that has never done anything for you to change everything about itself!

Re: Spot Bitcoin ETF receives official approval from the SEC

#933

Post by kaycey2022 »

pixelpoet wrote: post #745
bobim wrote: post #652

Earlier quoted context omitted.

And mostly all in the pockets of a few whales.

As opposed to the US dollar, or euro, or ruble or ...? I will never understand how people fault crypto for not somehow magically solving the world's financial ills, as if humanity has ever had another (successful) plan for wealth distribution. How's that communism working out? Crypto is meant to solve the trustless distributed ledger problem, nothing more, nothing less. Expecting human nature to somehow change becaus…

With the USD, Euro etc it’s in the hands of bloodthirsty warlords. This has always been the case so it’s mundane and kind of tolerable. With BTC otoh the “whales” are actually a bunch of fat neck beards who have no real power of their own. That is intolerable. I mean I would rather the world be ruled by a violent psychopath than it be ruled by some nerd.

Re: Spot Bitcoin ETF receives official approval from the SEC

#934

Post by pixelpoet »

kaycey2022 wrote: post #933
pixelpoet wrote: post #745

Earlier quoted context omitted.

As opposed to the US dollar, or euro, or ruble or ...? I will never understand how people fault crypto for not somehow magically solving the world's financial ills, as if humanity has ever had another (successful) plan for wealth distribution. How's that communism working out? Crypto is meant to solve the trustless distributed ledger problem, nothing more, nothing less. Expecting human nature to somehow change becaus…

With the USD, Euro etc it’s in the hands of bloodthirsty warlords. This has always been the case so it’s mundane and kind of tolerable. With BTC otoh the “whales” are actually a bunch of fat neck beards who have no real power of their own. That is intolerable. I mean I would rather the world be ruled by a violent psychopath than it be ruled by some nerd.

Wow...

Re: Spot Bitcoin ETF receives official approval from the SEC

#935

Post by a_gnostic »

milutinovici wrote: post #581
MacsHeadroom wrote: post #553

Earlier quoted context omitted.

Markets are not zero sum. Value is "created* in a growing market.

Except Bitcoin market is zero sum. No value is being created.

The value is transacting independence from monopolies, with interdependence to a distributed network.

The value is immutability –not something censor-horny commies value, I'll give you that.

Re: Spot Bitcoin ETF receives official approval from the SEC

#936

Post by davedx »

defrost wrote: post #728
davedx wrote: post #725

Earlier quoted context omitted.

Aircraft carrier groups seem pretty solid to me

https://www.usni.org/magazines/proceedings/2010/january/fort... Regularly sunk in joint exercises and simulations: https://theaviationist.com/2015/03/05/us-aircraft-carrier-su... https://www.eurasiantimes.com/entire-us-carrier-battle-group...

OP claimed "nothing solid", not "not backed by invincible firepower", but keep shifting the goal posts if it makes your bitcoin losses feel better!

Re: Spot Bitcoin ETF receives official approval from the SEC

#937

Post by guiambros »

koolba wrote: post #371
guiambros wrote: post #344

Earlier quoted context omitted.

That's silly. Anyone who's dollar cost averaging bitcoin buys over a long period of time has been incredibly well rewarded. BTC is up 146% over the last 12 months, and up 15x (!) over the last 5 years. Even if you were slow and naïve and only jumped at the 2021 all-time high, and kept buying during the next 12 months (as one should when an asset you like goes down), you'd have made your money back and then some.

Dollar cost averaging and “Any 5+ year holding” are not the same thing.

I didn't say buy-and-hold for 5 years. Feel free to do the math; dollar cost averaging over 5 years would still be one of the best investments in modern times.

Re: Spot Bitcoin ETF receives official approval from the SEC

#938

Post by npoc »

the_gastropod wrote: post #895
npoc wrote: post #883

Earlier quoted context omitted.

Yes, a common side effect of going down the deep bitcoin rabbit hole and discovering how the world really works.

I'm sure you're aware of this... but every conspiracy theorist and cult member thinks this way. A moment of self-reflection may be in order.

It's very healthy to listen to both sides of an argument and theorise about conspiracies. It's the close-minded people programmed to laugh at them who need to self-reflect.

Re: Spot Bitcoin ETF receives official approval from the SEC

#939

Post by nikolay »

siwatanejo wrote: post #166
nikolay wrote: post #130

Earlier quoted context omitted.

Is this why Coinbase does not support it?

Coinbase is a joke as an exchange. Other behemoths exchanges support it, such as Kraken or Binance. But I recommend you p2p exchanges, which don't require KYC, e.g. RoboSats or LNP2Pbot.

It's the only exchange without a bad reputation, theft, inside trading, etc.

Re: Spot Bitcoin ETF receives official approval from the SEC

#940

Post by audleman »

qwytw wrote: post #786
JustinGoldberg9 wrote: post #770

Earlier quoted context omitted.

They didn't try to stick with the Gold standard. They secretly left it altogether, while robbing its value to anyome buying bonds. Post WWI, they tried to stop gold from leaving Britain, which had the effect of hastening it leaving :-) You could say that they would have lost WWI without leaving the gold standard (other world governments followed suit by leaving the gold standard after Britain did) but imho the war wo…

> they would have lost WWI without leaving the gold standard (other I mainly meant their attempts to get back on the gold standard in the 1920s. Unlike e.g. France and the other European countries which didn't really have a choice and had to devalute. It put Britain industry and economy at a disadvantage during the 20s (on the brightside Britain didn't suffer from the Great Depression as much..). e.g. between 1910 an…

Which shows that it was the impact of pretending their currency hadn't been devalued that dragged them through a prolonged depression. Had they simply priced gold at its true value in pounds, they would have gotten through it as quickly as France.
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