Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Spot Bitcoin ETF receives official approval from the SEC

cointelegraph.com

Post reply on HN
Print view View original

991–1000 of 1001 posts

Re: Spot Bitcoin ETF receives official approval from the SEC

#991

Post by qwytw »

npoc wrote: post #804
qwytw wrote: post #763

Earlier quoted context omitted.

> Soft money wins in the short term. Hard money wins in the long term. What do you mean by that? Repeatedly saying the same thing multiple times doesn't make it any more accurate. The type of "hard" money you're talking about only work in mostly static economies with untrustworthy and ineffective governments, under other conditions it inhibits growth and causes all sort of economic instability and much deeper boom an…

Soft money is like a credit card that takes money from the population without them realising. You can use this money to produce a short term effort but you (or should I say, _they_) pay the consequences later. Just look at what has happened to most of the west over the last 50 years. Hard money is fair money. Populations thrive when built on a fair foundations. Does the stealth taking of my wealth and giving it to th…

Does a system which discourages any investment and makes borrowing extremely expensive benefit or harm society?

Re: Spot Bitcoin ETF receives official approval from the SEC

#992

Post by NicoJuicy »

LAMike wrote: post #983
NicoJuicy wrote: post #954

Earlier quoted context omitted.

> Bitcoin also doesn't need the approval of any person, police force, legislative body, military, or government. That's only a good thing in dictatorships, not in democracies. => I really don't care. It's not a pro in my life and my continent ( Europe) Additionally, Bitcoin is super duper easy to track

> Additionally, Bitcoin is super duper easy to track Could you tell me who Satoshi is? Could you explain how you can track who paid you a Lightning Network invoice? Have you ever written down a seed phrase or made a Bitcoin transaction on chain?

> Could you tell me who Satoshi is?

Nope, because he's been inactive for 14 years. ( 70% of all accounts are inactive anyways - https://www.coindesk.com/markets/2023/11/23/bitcoin-supply-i... )

> Lightning Network

You mean the SQLite database at third parties in some cases? Or the ones hosted at the cloud providers? https://watcher.guru/news/amazon-google-cloud-host-49-of-bit...

I'm not a government, in case you were wondering. I can't track the edge-cases. I don't have access to KYC

Fyi, noticed the mixing services going offline? https://en.wikipedia.org/wiki/Tornado_Cash

Re: Spot Bitcoin ETF receives official approval from the SEC

#993

Post by RestlessMind »

nikolay wrote: post #925
RestlessMind wrote: post #905

Earlier quoted context omitted.

Sorry you lost me. Can you please clarify?

If Bitcoin is a wealth store and I need to convert Bitcoin to USDC, let's say, just to make a payment, or if I get paid in USDC and have to convert it back to Bitcoin to store, then I still need to pay even more than just the Bitcoin fees if I pay directly in Bitcoin or get paid directly in Bitcoin! Often the margin on the crypto currency conversion is higher than the Bitcoin network fees.

True, which is why you do not convert Bitcoin to USDC for each micropayment. You batch all the USDC transactions until you have a sizeable amount to touch Bitcoin network.

Ultimately, I see Bitcoin as Gold. You do not touch your gold savings for buying your daily coffee. For that, you have USDs in your wallet. But you still transact with Gold once in a while when it makes sense.

Re: Spot Bitcoin ETF receives official approval from the SEC

#994

Post by NicoJuicy »

LAMike wrote: post #982
NicoJuicy wrote: post #954

Earlier quoted context omitted.

> Bitcoin also doesn't need the approval of any person, police force, legislative body, military, or government. That's only a good thing in dictatorships, not in democracies. => I really don't care. It's not a pro in my life and my continent ( Europe) Additionally, Bitcoin is super duper easy to track

> That's only a good thing in dictatorships, not in democracies. Yes, Bitcoin allows you to be a dictator of your personal finances, compared to fiat, a "democratic" system, where people you never voted into power get to press a button and print as much money as they deem necessary to "stimulate" the economy.

Ugh.

Ok. So when nothing special happens in your perfect currency, it divides by 3 or 4 in value in a year.

Yeah, that seems great! Go for it!

Re: Spot Bitcoin ETF receives official approval from the SEC

#995

Post by tnel77 »

hanniabu wrote: post #963
tnel77 wrote: post #917

Earlier quoted context omitted.

It is very common, but this is a lot different than some company based out of the Bahamas trading MILF coin. It’s going to be okay!

Ah yes, trust, the very thing that lead to the 2008 crash. You people have too much faith in the status quo.

What would you propose instead?

Re: Spot Bitcoin ETF receives official approval from the SEC

#996

Post by staplers »

lern_too_spel wrote: post #949
staplers wrote: post #947

Earlier quoted context omitted.

Wasting any effort on fake decentralization is objectively inferior because it adds to the cost with no benefit. Do you feel similarly about democracy?

Democracy doesn't have the same problems. If a government is not functioning properly, voting them out is better than armed revolting then out.

You do realize that's literally what miners, developers, and users do?

Go make a fork "fixing" these problems you speak of. Demonstrate its utility and people might adopt it.

It's opt-in yet you speak of it as an authoritarian power.. when in reality government currency is literally this.

Re: Spot Bitcoin ETF receives official approval from the SEC

#997

Post by qwytw »

JustinGoldberg9 wrote: post #919
qwytw wrote: post #766

Earlier quoted context omitted.

> pay directly for some products and services as long as the other party will accept it. You can but generally you don't want to. Besides the technical issues it's a very volatile asset which means that you don't want to hold it for any extended period of time (IF you're only using it to pay for stuff).

I pay for things with dollars. I keep some cash available at all times. I had to buy a car last year, so I sold some Bitcoin, paid tax on its capital gain, and so I effectively paid less for it, as I held Bitcoin from roughly 20k to 30k. There will always be more volatility to the upside

Which is great from an individual perspective not so much for the economy and the society as a whole.

> There will always be more volatility to the upside

That's a very strong statement.

Re: Spot Bitcoin ETF receives official approval from the SEC

#998

Post by johnwheeler »

LAMike wrote: post #969
johnwheeler wrote: post #838

Earlier quoted context omitted.

Maybe it’s that it turns morons into financial advisors is why people hate it.

Maybe because its the best performing asset of the past decade? Just a guess

Yeah LAMike. Get you a bitcoin.

Re: Spot Bitcoin ETF receives official approval from the SEC

#999

Post by LAMike »

NicoJuicy wrote: post #992
LAMike wrote: post #983

Earlier quoted context omitted.

> Additionally, Bitcoin is super duper easy to track Could you tell me who Satoshi is? Could you explain how you can track who paid you a Lightning Network invoice? Have you ever written down a seed phrase or made a Bitcoin transaction on chain?

> Could you tell me who Satoshi is? Nope, because he's been inactive for 14 years. ( 70% of all accounts are inactive anyways - https://www.coindesk.com/markets/2023/11/23/bitcoin-supply-i... ) > Lightning Network You mean the SQLite database at third parties in some cases? Or the ones hosted at the cloud providers? https://watcher.guru/news/amazon-google-cloud-host-49-of-bit... I'm not a government, in case you were…

> Nope, because he's been inactive for 14 years

If Bitcoin is so easy to track people why don't you find him?

> You mean the SQLite database at third parties in some cases?

Didn't answer my question, but you know you can run a lightning node at home, right?

> Links to an ETH project

What does that have to do with Bitcoin?

Re: Spot Bitcoin ETF receives official approval from the SEC

#1000

Post by LAMike »

NicoJuicy wrote: post #994
LAMike wrote: post #982

Earlier quoted context omitted.

> That's only a good thing in dictatorships, not in democracies. Yes, Bitcoin allows you to be a dictator of your personal finances, compared to fiat, a "democratic" system, where people you never voted into power get to press a button and print as much money as they deem necessary to "stimulate" the economy.

Ugh. Ok. So when nothing special happens in your perfect currency, it divides by 3 or 4 in value in a year. Yeah, that seems great! Go for it!

> Yeah, that seems great! Go for it!

I mean, it is the best performing asset of the last 10 years, so yeah, it seems pretty great to anyone who has a brain.

A 98% cash and 2% Bitcoin would beat the SPY returns for any 4 year period since inception. When making investments, its important to have a long term outlook. Do you just live day to day without any planning?

Post reply on HN