BTC Spot ETF is market poison?

[Peter90]

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! 

Another 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!

Very aggressive tone
You are trying to intimidate other users, both those whom you address - in this case pakhitheboss - and those who read.
People like you are poison for a discussion community


That said
you don't know what are you talking about Stompix

De-dollarisation doesn't mean other currencies are more used that the $, so your examples of the $ being used more than other currencies don't mean squat.
De-dollarisation is a trend

This is a chart of USD as world reserve currency



As a international trade settlement currency the $ is being more and more abandoned in favour of national currencies, and if you are not aware of it there is nothing we can do for you Stompix

De-dollarization is a myth regurgitated by russian and chinese propaganda.

Seriously, stop listening to fearmongering and look at FACTS!

so those saying de-dollarisation is taking place, they are ... ignorant, fearmongering tools regurgitating Chinese/Russian propaganda.
Classic intimidating, smearing and defaming
People like you are poison for a discussion community Stompix

[Stompix]

Keep laughing Stompix

I will, I've seen the death of the dollar 100 times till now!
You know why I mentioned russian propaganda, it was because I was a victim of it!!!!!!

Every day in at the TV we were told how the US is crumbling, how there is a civil war there, how there is hunger and death and then at 4AM I was forced to wait in line till I went to school and my mother would took my place in the ratio queue to buy the milk that would arrive 4 hours later. And then I would go back home and listen on the radio how great out country is, how the west is going down all while repeating to memorize by heart the brochure of the little patriot while my parents would go out for the next ration for the week.

12 years of hunger waiting for the death of the dollar and here we are 34 years later still speaking of the death of the dollar!
You, me and this forum will go the same way the USSR has and leave this world has and people will still use the dollar, no matter how many veins you pop in anger!

Oh and telling facts and not fearmongering out of hate is toxic? Good, then I'm toxic!

I just don't want other to fell in the same trap that two generation of my people have done so, living their life just with the hope that the other guy across the pond will finally some day live a worse life than theirs, because this is all you picture here, death to the other guy because he does better than you, no inspiration to pass him normally, shoot him dead because you know you will never be able to reach his level.

Enjoy your rubles or yuan, because well...seems like you're the only one wanting them!
Oh btw, let me rub a bit of salt on your wounds, how's the de-dollarization happening in Argentina? 

[Carbitcoin]

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.

[MrSpasybo]

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.

But let's not forget the long-term issues related to BTC's mission and the financial revolution initiated by Satoshi Nakamoto. BTC Spot ETF could weaken them by turning BTC into a Wall Street tool 😱

[debra]

Yeah I think It's effective, ETF bitcoin is financial instruments that make invest bitcoin easily.
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.

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.

[Peter90]

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! 

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

[Stompix]

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.

And the difference is .....
Because if you want to pay with dirhams for example when you buy dirhams the UAE buys USD, just like tether to keep the peg.
If you want to pay with rubles or rupiah...Oh well, nobody wants them anyhow:
https://energy.economictimes.indiatimes.com/news/oil-and-gas/no-takers-for-rupee-payment-for-oil-imports/106259302

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.

See, it doesn't work, so they switched to paying in dirhams or usd, and as I told you above, this involves in both cases a need for USD.

What the currencies of Saudi Arabia and AUE are pegged to, is completely irrelevant

Irrelevant for somebody who doesn't know how a peg works!
You know what happens when you don't have enough USD cash reserves to keep it?
Zimbabwe happens!
https://www.ft.com/content/ff904148-351b-11e9-bb0c-42459962a812

But that's not the problem Stompix. I'm not a genius myself. The problem is your intimidating rhetoric

Grow some balls and a spine!

If de-dollarization would be happening, why is every single of those revolutionary currencies losing against the dollar?
If this thing is happening, why are we here talking about US ETF and nobody gives a damn about Iranian Bitcoin ETF, or Chinese Bitcoin ETF?
Why are all the eyes in Bitcoin related forums and and social media focused on the US and nobody cares about others?
Do you have a real explanation for it that would hold water?

[Faisal2202]

The future is now  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 

I 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.

[Peter90]

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 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.

[Peter90]

The future is now  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 

I 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.

Hi Faisal
You are right in saying that coins and bars cannot be used as money anymore.
Digitalisation and automation, indeed.

ETF shares cannot be used as money either.
They are a vehicle to invest in gold, not to pay with gold: You can neither go to the restaurant and pay with ETF shares, not can you buy on eBay those shoes and pay with ETF shares, nor can you send 3 ETF shares to your brother.
As money ETF shares are useless.

This is were blockchain technology is going to revolutionise our money system: in allowing the hardest currency in history to become money again, as gold-backed blockchain based currencies.


"why would a person chose a blockchain method if he is using the centralized method already, giving up on the anonymity factor."
I got the same question a couple of days ago here, so as I've not much to say  I'm going to repeat myself.

It's a trade off Faisal: opportunity vs. anonymity

For some people the opportunity of buying/selling gold with minimal spreads... sending/receiving it digitally... having it stored in fully insured, military-grade security vaults... managing everything directly through your smartphone (no financial advisors who know everything you do...)... the chance of paying directly with your precious metals through a debit card, no need of a bank account! (which is important for unbanked and underbanked people) (... but also for fully banked people who don't like banks )... extremely low minimum trading amounts... the option of redempting the coins and getting the corresponding physical sent at home...

... for some people - think for ex. of the Indonesian who are registering in the PosPay app of the Indonesian Postal Service - these opportunities are more important than anonymity

Between opportunity and anonymity there is no right or wrong choice. We are different and we live in different situations.
It's a personal choice.

But it is important that you look at this issue not only from the point of view of a crypto user but also from the point of view of ordinary people: the primary role of gold-backed crypto currencies - in my view - is to serve ordinary people, not crypto traders

[de_prof]

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 think ETF proposal is the result of researchbefore. So, Bitcoiners already think it will improve the bitcoin price when bullish

[Bitcoin_people]

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.

[Sim_card]

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! 

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

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.

[Aanuoluwatofunmi]

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.

The company may actually have high liquidity in terms of financial performance, but are they going to be the real player here from this context to raise the market up for bullrun or even have it permanent influencing the market price, we can remember that this organizations aren't investing on bitcoin directly with their assets, under ETF its just another thing different, they cannot manipulate the market on their own advantage even though they have the financial capacity to do so.

[Doctor]

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.
BTC spot ETF si market poison, I think it's true, poison that make people want to invest in crypto currency.
That's good.