What is your view on the implications of BTC Spot ETF many years from now?
Do you think ETFs are threatening the true value of BTC?When you talk about the true value of bitcoin, what area are you referring to? In the aspect of decentralisation, oh yes, when it comes to transparency, there will be some level of that up to an extent. In the aspect of self-custody, I guess the owner won't entirely be in control as they don't hold the real bitcoin, but rather it's just backed up somewhere.
Are you only interested in the profits that BTC Spot ETF will bring in the short term?
Do you think Satoshi Nakamoto will support BTC Spot ETF?[/b][/color]I guess for bitcoin to be generally accepted, especially in a large economy like that of bitcoin, the only aspect I believe might be against his vision is that the bitcoin ETF won't give users total control of what they own.
Do you think Satoshi Nakamoto will support BTC Spot ETF?
Haha, this thread is all right, it made me laugh out loud. LOLQuoteDo you think Satoshi Nakamoto will support BTC Spot ETF?
Did someone ask him?
If so, can he change anything?
Thumb up!
- Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.
This is only possible when each person stores BTC in their personal account and trades P2P.
this approval will bring a great opportunity to bitcoin as it will now have a larger market, more investors will come in, and all of that, and this is going to mark a significant beginning for other institutional investors to buy the idea of owning this as part of their stock.I like practical thoughts like this, we have our own ideals when we come to crypto, but the market has its own rules, and especially when we can't do anything to fight the inevitable trend, which is being supported by major financial forces. At least, we still have the consolation of the positive effects of BTC Spot ETF on the overall market.
In the aspect of self-custody, I guess the owner won't entirely be in control as they don't hold the real bitcoin, but rather it's just backed up somewhere.
The bitcoin ETF will make it easier for whales to dump their wallets at a time and also refill, which could have both a negative and positive impact on the bitcoin price.
I guess for bitcoin to be generally accepted, especially in a large economy like that of bitcoin, the only aspect I believe might be against his vision is that the bitcoin ETF won't give users total control of what they own.
Unfortunately, this pessimistic perspective is much more likely to me. This completely violates one of the basic values of the Bitcoin ecosystem, that we are the owners of our portfolio. Now we should turn to the dollar again.From the standpoint of respecting the integrity of Bitcoin's value, it is true that we should be cautious when assessing the impact of BTC Spot ETF. What we can do is hope that ETFs do not become an epidemic that takes over all blockchains in the crypto market. Bitcoin is the leader so it may have to be sacrificed to bring legitimacy to crypto.
The SEC has been clearing space for this for a long time, punishing and expelling as many players as possible.
JUST IN: 🇺🇸 Top 5 spot #Bitcoin trading volumes today:Wow, we have validated traditional investor demand for ETFs, which is bound to give crypto bullrun a boost.
Grayscale: $2.3 billion
BlackRock: $1 billion
Fidelity: $700 million
ARK 21Shares: $288 million
Bitwise: $125 million
BTC ETFs won't help in nothing the adoption of Bitcoin as a currency.Yeah, this is the problem we need to pay attention to. ETFs make BTC seem more powerful and legitimate, but it also pulls BTC away from its original destiny. I don't expect this to become so severe that BTC Spot ETF gets more attention than BTC itself.
Spasybo, who knew you are a bitcoin maximalist :D
I remember back in 2017 or 2018 when almost everyone is talking about institutional money flowing into crypto but now that it's actually happening, we're having reservations. To be fair, the concerns are valid but this is what most traders want. I was also thinking that it will change the cycle that we know of but what else can we do? We can only sit back.BTC needs mass adoption, BTC needs more cash flow, but Spot ETF only provides the latter. When the majority of people are too optimistic, we should be a little more cautious because there may be something left, that's incorrect or potentially risky here.
Now that Bitcoin ETF is already here, I'm hoping that none of these wealthy groups would collude and control the major miners.
I wonder if in the future, there will be a time when investors will pay attention to these problems and realize our foolishness. Then, a huge upheaval will come: is it the time for our surrender or the tipping point of a revolution in the financial markets?I don't think in the future a time will come when people will start to use gold (physical) again instead of these Gold ETFs for convenience. Because it is a modern era and now we are into digitalization, and automation, we want everything to be self-managed, we don't want to spend hours, days on one thing, we want everything to be prepared by itself, like just a few years ago, people were holding their funds by themselves, but now after 2000s, people are using thrid person investors, or funds advisors, who are managing their funds and investing into different options. The only thing that has changed now is, back then these financial advisors do not consider BTC or crypto as an option to invest in.
What is your view on the implications of BTC Spot ETF many years from now? Do you think ETFs are threatening the true value of BTC? Are you only interested in the profits that BTC Spot ETF will bring in the short term? Do you think Satoshi Nakamoto will support BTC Spot ETF?Yeah, ETFs are threatening the true value and potential they have, People will not be using the custodial or non-custodial wallets, they will not be aware of the hardware wallets, and cannot experience how it feels to be owners of what belongs to you. I hope you got my point here. I am only interested in ETFs just because it will drive money towards BTC but in the end, people (smart ones) will understand the BTC and they might come to use its features directly like wallets, blockchain, smarcontracts, etc. etc.
Bitcoin price continues to see an upward trend, currently since the approval of the Bitcoin ETF, the price of Bitcoin has seen an upward movement. Bitcoin halving is in 2024 so Bitcoin price will definitely increase.
JUST IN: 🇺🇸 Top 5 spot #Bitcoin trading volumes today:Wow, we have validated traditional investor demand for ETFs, which is bound to give crypto bullrun a boost.
Grayscale: $2.3 billion
BlackRock: $1 billion
Fidelity: $700 million
ARK 21Shares: $288 million
Bitwise: $125 million
Looking back at Gold Spot ETF in 2004, following its launch, gold prices increased significantly through 2011, but stagnated over the next decade. Young people in US are now very unfamiliar with buying gold for their own storage, they choose to invest in gold ETFs for convenience, and they complain about inflation and devaluation of $. This truth is completely different from the situation in Vietnam: Vietnamese investors do not have the concept of Gold Spot ETF, we buy and sell gold by grams/pieces/jewelry at precious metal stores ourselves, we self-store and lend gold to each other when necessary.
So, looking at the numbers if we want to believe some gold purchases or bitcoin purchases could actually influence the economy of a country we should all dump out cold storage and go full into ETF ;) But the reality is that both gold market and bitcoin markets are at this point irrelevant when we speak macros.I'm not talking about the impact of Gold Spot ETF and BTC Spot ETF on asset price fluctuations or the national economy, I want to mention the negative impacts that BTC Spot ETF can cause to BTC's original mission and our financial freedom as the big guys pool BTC for their ETFs. Perhaps in the long term we will have more information to more accurately assess this risk.
You have made a good explanation here, I liked it and you are right, BTC Spot ETF and Future ETF both are poison for not only BTC market but for whole cryptocurrency market, the reason are same as you have mentioned, but for alt market, the reason is, BTC prices had direct and indirect impact on the price of alts. We see alts bleeding when the dominance of BTC increases and vice versa.In the medium term, perhaps the impact of Spot ETF on BTC and the entire crypto market will be very positive: more investors, more cash flow, more buying pressure, strong price increases, ATHs, profits for investors … Perhaps most investors only care about its negative impacts. Not many people want to change the way world finance works or want to support BTC in carrying out the revolution it was born with.
This whole ETF thing is not a good thing for the BTC itself, as it diverge people from using the BTC technology like Blockchain, wallets, exchange, dexs, etc. people using BTC ETF will not be aware of Blockchain technology and its benefits, and revolutions it can make. But I guess we don't need there time in BTC blockchain, we are getting what we need. And that is funds into BTC which is good for BTC dominance and for all investors.
Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.I will agree with you here, not your keys, not your coins and if you buy BTC spot etf’s you don’t control your coins and that is a bad decision. But we cannot stop people from doing what they want, people even store their funds in centralized exchanges which is even worse in my honest opinion.
Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.I will agree with you here, not your keys, not your coins and if you buy BTC spot etf’s you don’t control your coins and that is a bad decision. But we cannot stop people from doing what they want, people even store their funds in centralized exchanges which is even worse in my honest opinion.
I remember back in 2017 or 2018 when almost everyone is talking about institutional money flowing into crypto but now that it's actually happening, we're having reservations. To be fair, the concerns are valid but this is what most traders want. I was also thinking that it will change the cycle that we know of but what else can we do? We can only sit back.Bitcoin faced this situation in 2018. I completely agree with you. I really don't understand what the current state of Bitcoin is due to ETFs or what it will be like in the future. But hopefully they will take action about it.
Now that Bitcoin ETF is already here, I'm hoping that none of these wealthy groups would collude and control the major miners.
This whole ETF thing is not a good thing for the BTC itself, as it diverge people from using the BTC technology like Blockchain, wallets, exchange, dexs, etc. people using BTC ETF will not be aware of Blockchain technology and its benefits, and revolutions it can make.
But I guess we don't need there time in BTC blockchain, we are getting what we need. And that is funds into BTC which is good for BTC dominance and for all investors.
I'm not talking about the impact of Gold Spot ETF and BTC Spot ETF on asset price fluctuations or the national economy, I want to mention the negative impacts that BTC Spot ETF can cause to BTC's original mission and our financial freedom as the big guys pool BTC for their ETFs.
I don't think in the future a time will come when people will start to use gold (physical) again instead of these Gold ETFs for convenience. Because it is a modern era and now we are into digitalization
We can call Bitcoin ETF as any name we want to, if it's indeed a market poison then we shouldn't allow it to sting on us, so many investors had expected to see the market go high instead of being dip because they only think in one way and if you're going to be a successful investor, you must always have an alternative plan for other option, I know many were disappointed already from the way they see it happened after the approval for the market to go dip instead of bull.
The future is now :D and it's called gold-backed stablecoins: physical gold stored in a vault, digital record of the ownership of that gold running on the blockchain, for convenience :DHow are you very sure that the gold are stored somewhere? Also if A is backed by something, that does not mean A is that thing. Gold-backed stable coins are not gold. That means their price can depeg. The second thing is that you can check the price of gold in 2011 and 2019 and now and see that it is better to hold bitcoin instead. Bitcoin marketcap is still low and the price will increase better and should be the digital asset of choice.
Losing the historical mission of Bitcoin: In 2008, Satoshi Nakamoto introduced Bitcoin as a method for people to have the right to self-custody of money, not dependent on third parties, escaping the traditional financial model that has a lot of problems.I will agree with you here, not your keys, not your coins and if you buy BTC spot etf’s you don’t control your coins and that is a bad decision. But we cannot stop people from doing what they want, people even store their funds in centralized exchanges which is even worse in my honest opinion.
I accepted this as just another stress test for Bitcoin, perhaps the most difficult one yet.
In the meantime, probably the best meme for this ETF mess
(https://talkimg.com/images/2024/01/22/kSg3W.jpeg)
I want to share some very interesting charts and a few about them.
— Miners continue to dump bitcoin at the market price (which is fine with them, as we can see).
1. Or they know something in advance. And we are in for a correction.
2. Or they are stockpiling funds to buy equipment before the halving.
The future is now :D and it's called gold-backed stablecoins: physical gold stored in a vault, digital record of the ownership of that gold running on the blockchain, for convenience :DHow are you very sure that the gold are stored somewhere? Also if A is backed by something, that does not mean A is that thing. Gold-backed stable coins are not gold. That means their price can depeg.
Looking back at Gold Spot ETF in 2004, following its launch, gold prices increased significantly through 2011, but stagnated over the next decade. Young people in US are now very unfamiliar with buying gold for their own storage, they choose to invest in gold ETFs for convenience, and they complain about inflation and devaluation of $. This truth is completely different from the situation in Vietnam: Vietnamese investors do not have the concept of Gold Spot ETF, we buy and sell gold by grams/pieces/jewelry at precious metal stores ourselves, we self-store and lend gold to each other when necessary.
While I am really looking forward and highly expecting that once an ETF is approved by SEC, there will be a push for BTC to immediately get into a new ATH...but sadly my expectation never materialized as right now we are experiencing a big correction. So I am wondering...what is happening?
I now remember a remark made by Gary Gensler - a man I do not like heading SEC - and essentially he said that ETF is actually centralization...away from the main concept of Bitcoin which is decentralization.
While I am really looking forward and highly expecting that once an ETF is approved by SEC, there will be a push for BTC to immediately get into a new ATH...but sadly my expectation never materialized as right now we are experiencing a big correction. So I am wondering...what is happening?
Bitcoin was at $15.4K per Btc in November, it hit 3x a few weeks ago, why?
Because the ETF positive news were already priced in, there was a schedule, there were already hundreds of things pointing that a rejection will not happen, there was a legal case that forced them to either say yes or no and there were little arguments for a no, so rather than looking at the 10% loss from January 11th , better look at the 200% gain we had for no reason if we exclude the fomo about ETF that dominated all the news in the last three months!
Well we cannot say that Bitcoin ETF has not brought in some significant change to the crypto market with it's effects more on bitcoin, this is because as we all expect to see the approval come through, the hopes on it begins to rise and that alone make the market speculations more unpredictable to the extent that we achieved that high after a long dip, it shouldn't be a surprise anymore to me about seing Bitcoin falling after the ETF approval.
I think ETF bitcoin don't have big effect to bitcoin price.That's the reality of what happened. You were right after the ETF approval and earning a lot of bitcoin, and the price actually corrected. There seems to be a sense of concern from the market about this, and this is normal because every time there is a new development, it can have a negative or immediate positive impact; it just depends on the situation. But I believe that this situation is due to panic for just a moment; it is certain that later it will run well and will contribute to the increase in bitcoin. We wait patiently for this.
After ETF approved bitcoin goes down.
This seems strange, Bitcoin should be going up but it's actually going down.
Previously, people predicted that Bitcoin would rise after the ETF was approved, but it turned out to be the opposite.
I didn't surprise, because the character of bitcoin is unpredictable.
I believe that from the perspective of BTC price, Spot ETF has a positive impact because it attracts more cash flow into this market. The recent correction is simply a short-term price decline, due to sell-the-news and repeated price behavior at Fibo 0.786 like the previous 3 recoveries. I am not surprised by this, I pay more attention to the mission of BTC created by Satoshi at the start of crypto era!I think ETF bitcoin don't have big effect to bitcoin price.That's the reality of what happened. You were right after the ETF approval and earning a lot of bitcoin, and the price actually corrected. There seems to be a sense of concern from the market about this, and this is normal because every time there is a new development, it can have a negative or immediate positive impact; it just depends on the situation. But I believe that this situation is due to panic for just a moment; it is certain that later it will run well and will contribute to the increase in bitcoin. We wait patiently for this.
After ETF approved bitcoin goes down.
This seems strange, Bitcoin should be going up but it's actually going down.
Previously, people predicted that Bitcoin would rise after the ETF was approved, but it turned out to be the opposite.
I didn't surprise, because the character of bitcoin is unpredictable.
I think ETF bitcoin don't have big effect to bitcoin price.Exactly right, adopting a spot ETF is a gamble. It's normal for BTC to fall and then rise. Any asset does that. It's always the other way around. Just when everyone expects a miracle, often there is no miracle. It happens, it's normal. Do you think it won't happen with other ETFs? Yeah, sure. Again the SEC will manipulate, and in the aftermath, only make money off a deal like this. It's not the first time. ;D
After ETF approved bitcoin goes down.
This seems strange, Bitcoin should be going up but it's actually going down.
Previously, people predicted that Bitcoin would rise after the ETF was approved, but it turned out to be the opposite.
I didn't surprise, because the character of bitcoin is unpredictable.
I think ETF bitcoin don't have big effect to bitcoin price.That's the reality of what happened. You were right after the ETF approval and earning a lot of bitcoin, and the price actually corrected. There seems to be a sense of concern from the market about this, and this is normal because every time there is a new development, it can have a negative or immediate positive impact; it just depends on the situation. But I believe that this situation is due to panic for just a moment; it is certain that later it will run well and will contribute to the increase in bitcoin. We wait patiently for this.
After ETF approved bitcoin goes down.
This seems strange, Bitcoin should be going up but it's actually going down.
Previously, people predicted that Bitcoin would rise after the ETF was approved, but it turned out to be the opposite.
I didn't surprise, because the character of bitcoin is unpredictable.
Bitcoin was at $15.4K per Btc in November, it hit 3x a few weeks ago, why?
Because the ETF positive news were already priced in, there was a schedule, there were already hundreds of things pointing that a rejection will not happen, there was a legal case that forced them to either say yes or no and there were little arguments for a no, so rather than looking at the 10% loss from January 11th , better look at the 200% gain we had for no reason if we exclude the fomo about ETF that dominated all the news in the last three months!
And this will be the playbook for the halving also, too many area already treating the jump as aa set in stone event, there will be a lot of profit taking a lot of disappointed faces when they won't see lottery style in a year!
If you know the reason then please do explain as it will help me understand the political urgency behind approving Bitcoin ETFs with minute changes by the SEC. Mind you the first Bitcoin ETF was filed in 2013 and it was straight forward rejected by SEC. So, what suddenly got changed?
I don't think that the Bitcoin ETF is poisoning the Bitcoin market, but it just makes the Bitcoin market become saturated and tends to be more volatile because too many people are speculating on it. Also, there is no need to worry too much about Bitcoin ETFs making people forget about Bitcoin, because Bitcoin will still be known by more people and there will be more adopters than there are now.Yeah, I also hope that the Bitcoin community will continue to promote and educate people about Bitcoin's mission instead of focusing on investing and seeking profits from financial instruments like BTC ETFs. Every event in this market has positive and negative effects, it would be good if we took advantage of the positive effects to protect the Bitcoin revolution.
The point is how we as Bitcoin holders continue to educate people about Bitcoin and continue to strive for Bitcoin to be accessible to many people in the future.
That's right, friend; however, in time, the ETF will make a very positive contribution and will give Bitcoin the ability to continue to develop and strengthen so that it can move better. Indeed, we just have to wait for the momentum to happen because there is always a process that must be gone through first, but we are optimistic that it will happen because what you say is true: that the BTC mission carried out by Satoshi has predicted everything.That's the reality of what happened. You were right after the ETF approval and earning a lot of bitcoin, and the price actually corrected. There seems to be a sense of concern from the market about this, and this is normal because every time there is a new development, it can have a negative or immediate positive impact; it just depends on the situation. But I believe that this situation is due to panic for just a moment; it is certain that later it will run well and will contribute to the increase in bitcoin. We wait patiently for this.I believe that from the perspective of BTC price, Spot ETF has a positive impact because it attracts more cash flow into this market. The recent correction is simply a short-term price decline, due to sell-the-news and repeated price behavior at Fibo 0.786 like the previous 3 recoveries. I am not surprised by this, I pay more attention to the mission of BTC created by Satoshi at the start of crypto era!
(https://www.tradingview.com/x/hDyh469i/)
The SEC has a program on which it approves and evaluates ETF, from the initial submission it must act in 240 days, by either rejecting it or approving it, ARK had a filling in 2021 (https://www.sec.gov/Archives/edgar/data/1869699/000119312521201955/d165184ds1.htm), it was rejected multiple times and it reached another date (this January) when again a final decision was needed. Since the SEC was most likely going to approve it, it though just as everyone else that since the others are also going to be approved next months better to approve them all in one batch to not give just one of them a critical lead and distort the market.
So the urgency was basically not allowing one single entity to get a head start while the others had a delay!
At the same time it could not reject ARK and then approve the others based on the same principles in March, nor could they reject ARK now and then approve them in March as this rejection would have been final.
That's why almost everyone knew they would goin to get approval, and the reason why the market climbed!
Understood and I do not disagree with your response, whereas I have a different understanding which you might call a rumor. In 2013 the first application for Bitcoin ETF was submitted to the SEC and as we know it was not approved. It took 11 years for the SEC to realize the importance of Bitcoin ETF
The Fund seeks to track the performance of an index composed of developed and emerging market companies which are generating significant revenues from the growing needs of the world’s ageing population (defined as people aged 60 years and above).
De-dollarization is a term that you would have heard to and you know how it is slowly taking place.
In the meantime some Middle Eastern countries stopped accepting petrol dollars, I won't go into deep with it, but if you do a Google search you will find many links to those articles.
Another major thing that happened was that China successfully used its proxy control to become a hub of cryptocurrencies.
Yeah, I also hope that the Bitcoin community will continue to promote and educate people about Bitcoin's mission instead of focusing on investing and seeking profits from financial instruments like BTC ETFs. Every event in this market has positive and negative effects, it would be good if we took advantage of the positive effects to protect the Bitcoin revolution.
Should we advise investors to buy their own and custodial BTC instead of buying the BTC Spot ETF? And do you think this is effective?
De-dollarization is a myth regurgitated by russian and chinese propaganda.
To which currency is your payout tied both here and on BTT? $!!!!!!!
Show me one signature campaign that pays in chinese yuan, russian rubles, rupiah, rials and then talk about de-dollarization!
Oh, let's go to the shop on this forum:
https://www.altcoinstalks.com/index.php?topic=315406.0
$ is mentioned 40 times! How many times is the yuan or any other currency?
De-dollarization my ass!In the meantime some Middle Eastern countries stopped accepting petrol dollars, I won't go into deep with it, but if you do a Google search you will find many links to those articles.
Do name them and it better not be Saudi Arabia or UAE cause their currency is pegged to the dollar! ;D ;DAnother major thing that happened was that China successfully used its proxy control to become a hub of cryptocurrencies.
Most miners > US!
Most nodes > US!
Most LN nodes >US!
Most Bitcoin ATM > US!
Most shops accepting bitcoin > US!
Where's China on these?
Seriously, stop listening to fearmongering and look at FACTS!
De-dollarization is a myth regurgitated by russian and chinese propaganda.
Seriously, stop listening to fearmongering and look at FACTS!
Keep laughing Stompix
The investment funds that followed Black Rock and Fidelity in filing for Bitcoin ETFs manage assets of about $18 trillion, which significantly exceeds the size of the cryptocurrency market and Bitcoin's capitalization. Therefore, even a small part of the funds allocated to ETFs will form the basis for a new bull market and an increase in the value of the first cryptocurrency.Yeah, if just 1% of BlackRock's investors want to buy BTC Spot ETF to diversify assets, huge cash flows will flow into the market (and that's happening every day) and push BTC price up. That is the positive impact of BTC Spot ETF on the price chart in the crypto market in the short term.
Yeah I think It's effective, ETF bitcoin is financial instruments that make invest bitcoin easily.You're right. With ETF spot market, it will be easier to have Bitcoin investment. People will also more trust Bitcoin because it is in ETF spot market. No, it is not a poison. Why call it as a poison? With Bitcoin, the ETF market will have more interesting. Crypto and Bitcoin will be more well known in the future. This will make people be more aware about the potential of Bitcoin and crypto for the future.
But If there is people said it poison, I don't think it's poison. But ETF bitcoin will have good effect for bitcoin market.
As you said we can continue to promote bitcoin and educate other. They can use ETF bitcoin too.
In the meantime some Middle Eastern countries stopped accepting petrol dollars, I won't go into deep with it, but if you do a Google search you will find many links to those articles.
Do name them and it better not be Saudi Arabia or UAE cause their currency is pegged to the dollar! ;D ;D
Stompix
Saudi Arabia and AUE are oil exporters, not importers.
They are sellers, not buyers.
They don’t give their currency to other countries.
They accept buyer's currency.
New Delhi: India's push for rupee to be used to pay for import of crude oil has not found any takers as suppliers have expressed concern on repatriation of funds and high transactional costs, the oil ministry told a parliamentary standing committee.
What the currencies of Saudi Arabia and AUE are pegged to, is completely irrelevant
But that's not the problem Stompix. I'm not a genius myself. The problem is your intimidating rhetoric
The future is now :D and it's called gold-backed stablecoins: physical gold stored in a vault, digital record of the ownership of that gold running on the blockchain, for convenience :DI know how Gold ETFs are being traded and are pegged with real-world gold for the convenience of people to trade in it. I was trying to emphasize the importance of digitalization and automation, the world is changing and physical gold has been replaced with digital gold, but I didn't know the transactions of these digital gold are also being recorded on the blockchain.
Grow some balls and a spine!
The future is now :D and it's called gold-backed stablecoins: physical gold stored in a vault, digital record of the ownership of that gold running on the blockchain, for convenience :DI know how Gold ETFs are being traded and are pegged with real-world gold for the convenience of people to trade in it. I was trying to emphasize the importance of digitalization and automation, the world is changing and physical gold has been replaced with digital gold, but I didn't know the transactions of these digital gold are also being recorded on the blockchain.
This really makes things transparent but why would a person chose a blockchain method if he is using the centralized method already, giving up on the anonymity factor. So why use blockchain as in my opinion for Gold it is a little bit risky.
But if blockchain is only being used to prove ownership then that's another case.
It is only if the US is no longer the world power that there will be DE dollarization. As long as the US is still in power, USD remains the primary reserve funds. After World War 2, was when US became the economy world power. I don't think that dedollarisation will happen soon, maybe in our next generation, because I don't see any country that is strong enough to take power from the US currently.In the meantime some Middle Eastern countries stopped accepting petrol dollars, I won't go into deep with it, but if you do a Google search you will find many links to those articles.
Do name them and it better not be Saudi Arabia or UAE cause their currency is pegged to the dollar! ;D ;D
Stompix
Saudi Arabia and AUE are oil exporters, not importers.
They are sellers, not buyers.
They don’t give their currency to other countries.
They accept buyer's currency.
What the currencies of Saudi Arabia and AUE are pegged to, is completely irrelevant
Petro-dollar system = buying countries need $ in order to pay
De-dollarisation = buying countries don’t need $ anymore.
When talking about de-dollarisation, what the currencies of the sellers are pegged to, is completely irrelevant
But that's not the problem Stompix. I'm not a genius myself.
The problem is your intimidating rhetoric, with the regurgitating (--> vomiting --> defecating...) ... the Chinese and Russian propaganda ... the CAPITAL LETTERS... the exclamation marks !!!... the fearmongering... the laughing smileys ...
People like you intimidate users away from participating actively in these discussion communities. Nobody wants to get treated like you did with pakhitheboss
I've seen forums reduced to moribund because people like you were let free to roam around
The investment funds that followed Black Rock and Fidelity in filing for Bitcoin ETFs manage assets of about $18 trillion, which significantly exceeds the size of the cryptocurrency market and Bitcoin's capitalization. Therefore, even a small part of the funds allocated to ETFs will form the basis for a new bull market and an increase in the value of the first cryptocurrency.
After the approval of Bitcoin ETF, the price of Bitcoin increased significantly, we saw a lot of news about this in the beginning of 2024. Moreover fake news has been seen a lot including that a twitter account was hacked anyway after seeing everything later bitcoin change after bitcoin ETF approval was published. But we can say for sure that the price of Bitcoin will go to a higher position this year, because it increases a lot after the approval of Bitcoin ETF. Moreover, since Bitcoin's halving is ahead, it threatens to reach higher levels soon. Since the approval of Bitcoin ETF, the number of investors will increase and the demand for Bitcoin will continue to increase and after the halving, the price of more Bitcoins will reach the highest level.
Yeah , after ETF approved, I think the number of investors will increase, and the price of bitcoin will increase significantly.We hope that it will be like what you said, and of course it will have a good impact—maybe not now because it is too early to be able to produce that, but in the future.As long as the ETF provides a positive side, it will certainly make many investors continue to be interested in the crypto money market. Once again, it may take time, and we have to be patient for new things.
BTC spot ETF si market poison, I think it's true, poison that make people want to invest in crypto currency.
That's good.
Well, please calm down Peter90, I believe that Stompix just wants to discuss freely, we should not guess other people's attitudes just from a few sentences on the forum.Grow some balls and a spine!Reported
@TomPluz @sirty143 @alltalk
I always like this forum because of the relaxed climate here. That's why I'm not going to react. I don't know if you are able to handle this kind of people, until now I never saw one of them on this forum. Through teleporting many new users are entering, unfortunately teleporting doesn't filter. If user pakhitheboss had reacted with the same tone this guy treated him (https://www.altcoinstalks.com/index.php?topic=315187.30) the situation would have degenerated into classic forum bickering. Let him do it, others will start doing the same. Bickering everywhere. Many will refrain from posting. Active participation will decrease. People will leave. It’s up to you.
No, I think Bitcoin Spot ETF isn't poison, It's a good thing which will make bitcoin price will increase. Why we think It's poison ?I hope you will re-read the content of my topic: I believe that the BTC Spot ETF will provide bullish momentum for BTC and ALTS in the medium term. But in long-term, looking at the decentralized and self-custodial nature of the assets that BTC is built on, the BTC Spot ETF could be poison to the crypto market.
I think ETF proposal is the result of researchbefore. So, Bitcoiners already think it will improve the bitcoin price when bullish
The fact that a trillion+ dollar company would start to put in some money into bitcoin means a lot. I mean we are talking about a situation that would get us higher, and it should very well be something that will benefit everyone. I get that its not going to be all that confusing to start, but it is definitely a thing that we should care about. A company that size would not end up putting in a few million dollars, they are so rich that putting in a few billion dollars wouldn't really matter. I think its quite important that we end up with something that would give us the best benefit if we could, and they will increase the price a lot.It will not be easy for a company to put that amount of money into Bitcoin because if it is a company, then it will definitely think about the risks involved, and of course it has to be considered or get approval from a team that has carried out a proper analysis because, as far as I know, the company will carry out a deeper search before determining future steps, which means the company will consider it when making decisions.
I hope you will re-read the content of my topic: I believe that the BTC Spot ETF will provide bullish momentum for BTC and ALTS in the medium term. But in long-term, looking at the decentralized and self-custodial nature of the assets that BTC is built on, the BTC Spot ETF could be poison to the crypto market.
The fact that a trillion+ dollar company would start to put in some money into bitcoin means a lot. I mean we are talking about a situation that would get us higher, and it should very well be something that will benefit everyone. I get that its not going to be all that confusing to start, but it is definitely a thing that we should care about. A company that size would not end up putting in a few million dollars, they are so rich that putting in a few billion dollars wouldn't really matter.
2. In the medium term (several years):I am a BTC holder, I don't care much about short-term fluctuations, whether up or down because I continue to DCA BTC until halving or even until 2025.
- BTC Spot ETF allows more US investors to access BTC without knowledge of blockchain and crypto. Millions or tens of millions of American investors in crypto is a huge achievement that Spot ETF can reach in just a short time, which BTC has not been able to do in more than a decade.
- BTC officially joins the traditional financial market in US, becoming an asset for people to diversify their investment portfolios.
- Increase the legality of BTC globally, increasing the possibility of approval in many countries.
- Most importantly: attracting large cash flows, creating momentum to help BTC prices and the entire crypto market have impressive growth in the 2024 cycle and many future cycles. I think profit is the reason many investors want to look for this market[1].
What is your view on the implications of BTC Spot ETF many years from now? Do you think ETFs are threatening the true value of BTC? Are you only interested in the profits that BTC Spot ETF will bring in the short term? Do you think Satoshi Nakamoto will support BTC Spot ETF?
Poison that can make everyone buy Bitcoin, that is the current function of poison when Bitcoin enters the Spot ETF market.
I also find this phenomenon very exciting because I am sure that Bitcoin is slowly continuing to rise in price.
The news is everywhere and Bitcoin prices continue to rise due to news indications about the Bitcoin ETF being received.
If I have just 1 Bitcoin then I will definitely get something very valuable for my retirement savings, Bitcoin is poison to make me rich. lol
According to the title that we have all seen and I gave that statement to my post.Poison that can make everyone buy Bitcoin, that is the current function of poison when Bitcoin enters the Spot ETF market.
I also find this phenomenon very exciting because I am sure that Bitcoin is slowly continuing to rise in price.
The news is everywhere and Bitcoin prices continue to rise due to news indications about the Bitcoin ETF being received.
If I have just 1 Bitcoin then I will definitely get something very valuable for my retirement savings, Bitcoin is poison to make me rich. lol
Poison which attracts everyone to buy bitcoin..It's true. Bitcoin price is increasing at this week and touch $ 47K.
By seeing this phenomena, I think bitcoin price will touch $ 50K easily. But be careful, hopefully there is no negative issues attack bitcoin at this season. Because many people wait for the bullish season
According to the title that we have all seen and I gave that statement to my post.I think I have presented my opinion quite thoroughly in the content of the topic, but perhaps I should clarify it more.
And it's true that it's like poison, maybe Bitcoin is for some people something that is very volatile and scary to invest in.
But for me, who is quite familiar with the characteristics, trading and security of Bitcoin, it is a good poison for investing and I have to know where to go when I have to buy Bitcoin.
I mean, don't make the mistake of buying when Bitcoin goes up and selling when Bitcoin goes down, but at least I bought Bitcoin for the long term and held it in the Electrum wallet.
I am a BTC holder, I don't care much about short-term fluctuations, whether up or down because I continue to DCA BTC until halving or even until 2025.Yeah, I understand this, most current BTC investors just need profits and the BTC Spot ETF is a huge success attracting billions of dollars into BTC and the crypto market, helping BTC increase in price strongly from $25K by mid-2023 to $50K currently.
I only focus on the positive impact in the medium term: BTC price will be supported and continuously increase, helping the entire crypto market grow and bring profits to token holders. My goal is profit. When profits meet my investment criteria, I will take profits and wait for new opportunities.
So for me the BTC spot ETF is a blessing, not a market poison.
BTC and the crypto market exist in their own right, if it cannot resist the "poison", it should disappear and be seen as a failed economic experiment 8)
But in the long term, if investors only want to buy BTC Spot ETF because of its ease, they will not have the need to self-custody assets, not be interested in blockchain technology and the financial revolution that BTC is leading. If this becomes too popular, BTC will turn into a financial tool in the hands of Wall Street and not the decentralized financial solution that Satoshi created. I count this as poison for BTC.
I mean, don't make the mistake of buying when Bitcoin goes up and selling when Bitcoin goes down, but at least I bought Bitcoin for the long term and held it in the Electrum wallet.Its mean sell your bitcoin during have good news and buy back later when bad news about bitcoin sharing, but have difference way for investors buy bitcoin right now. Most of them excited for investing when market trend stable but panic for holding or want to accumulate during market drop or crash.
It is only if the US is no longer the world power that there will be DE dollarization. As long as the US is still in power, USD remains the primary reserve funds.
Its mean sell your bitcoin during have good news and buy back later when bad news about bitcoin sharing, but have difference way for investors buy bitcoin right now. Most of them excited for investing when market trend stable but panic for holding or want to accumulate during market drop or crash.
Unfortunately that boat has sailed a long time ago and this comes from a bitcoin maxi!I cannot predict their investment trends in the future, but if possible, I would like them to become users of the Bitcoin network and other modern blockchains instead of becoming BTC Spot ETF holders. Some of my friends in the US have also changed direction, not wanting to buy BTC but buying BTC Spot ETF because it is easier to declare taxes. This is what I see and I'm a little worried.
The bright part in it is that those so called investors are people who wouldn't have chosen Bitcoin for the technicalities behind it anyhow, if they would have liked that they would have bought and kept their coins in self custody earlier, if they are only tested in the $ then it makes little difference in them holding ETFs or IOU paper promises from CEXs.
When I check adoption rates I'm always looking at another things, not the price, more like the number of new inputs and outputs in transactions, the distribution of coins, the volume outside money transfer from and in CEXs and those numbers are just a pale comparison to the price evolution, they are moving at snail pace comparing to the news spreading across the globe and the hype on social media.