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/biz/ - Business & Finance

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57250562 No.57250562 [Reply] [Original]

BTC ETF approved, a measly 46.4k follows. That's it. Biggest new ever, not 50k on sight. Alts are pumping but they are way below the levels they were 2 weeks ago. It's over, folks.

>> No.57250570

>>57250562
I regret selling my alts for btc

>> No.57250579

>>57250562
FUD FUD FUD FUD ... RIGHT?

>> No.57250628

>>57250562
i don't know why people think this is good news for bitcoin
1. it's not bitcoin and doesn't take any supply off the market
2. it will be used to naked short bitcoin lower, same way they do with silver

>> No.57250670

>>57250562
Do you think these companies like Fidelity and Blackrock invested in bitcoin for it to lose? They are going to pump the shit out of it

>> No.57250710
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57250710

>>57250562
Should have bought gold. The price of a physical asset is harder to tamp down than a digital one in the long run.

>> No.57250732
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57250732

>>57250710
Wrong image.

>> No.57250770

>>57250562
Imagine thinking that institutional investors didn't already price in the ETF news.

>> No.57250781

>>57250732
wrong, it takes tons of fossil energy to mine a bitcoin
all that value goes into the coin

>> No.57250839

>>57250781
>Muh energy required to mine!
So what nigger.

A turd is still a turd, even if it costs $10,000 in electricity to produce.

>> No.57250896

>>57250562
The fuck are you going on about? We’re going up right now and will break to 50k either end of the day or tomorrow. 47k right fucking now

>> No.57250924

>>57250896
48k any time now

>> No.57250936

>>57250839
bitcoin is a store of energy, you can always extract the value back into currency and buy the energy again

>> No.57250945

>>57250896
50k is the local top sorry

>> No.57250950
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57250950

It's 49k right now faggot

>> No.57250978

>>57250936
That's not how bitcoin works. It's not a store of energy, and any transaction actually costs energy. You don't get sudden energy from selling bitcoin...

>> No.57250981

>>57250562

Check the Bitcoin price.

>> No.57250998

The ETF inflows haven't begun yet retard. The ETF goes live on the stock exchange tomorrow.

>> No.57251011

>>57250562
They can now control the btc price. Controlling btc price means the ability to directly impact the miners. Directly impacting the miners to a significant enough degree means potentially being able to hit at the protocol itself. Dark day for btc.

>> No.57251094

>>57251011

didn't work in 2017, won't work now. lern2gametheory, kid

>> No.57251129

>>57251011
How so and why? So they can destroy bitcoin in America and lose their asses because they own shares in all the major miners? That makes no sense at all. You do know that there are other miners outside the US. This would not only destroy their own business but end up becoming a national security threat.

>> No.57251166

a large block of miners have the ability to increase the supply and take it for themselves, increasing their overall share. this has always been the endgame for bitcoin. there's literally no reason to not temporarily spike to 51% and gain the new supply.

>> No.57251200

Cme futures listing dumped

>> No.57251325

>>57251129
No, ideally so that they can become the miners once they get them to capitulate. Miners outside the u.s. would still be affected by prolonged price manipulation just the same.

>> No.57251391

>>57250781
Literally EVERYTHING requires energy to produce. The problem is with cryptocoins, you need energy to maintain the blockchain, mine it, and to carry out transactions.

>> No.57251405

>>57251391
you can't extract the energy back
you just sell to a greater bagholder

>> No.57251430
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57251430

>>57250562
>every fucking chart looks exactly the same
YAWN
Call me when some actually interesting shit happens and not just
>lol we follow bit coin minute by minute

>> No.57251471

>>57250562
>tamed
trading starts tomorrow

>> No.57251504

Normies don't even have a clue this is happening, even my friends who hold crypto and and normies had no idea this was going on today.

We will see real moves tomorrow when trading starts I guess

>> No.57251544

>>57250570
lol everything is pumping except buttcorn

>> No.57251609

>>57251504
>we are le early adopter savvy investors

>> No.57251643
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57251643

>>57250936
>into currency
Lmaoooooo

>> No.57251662
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57251662

my node my rules
die fiatcel

>> No.57251698

>>57250562
Bruh. Normie news outlets aren't reporting it in any meaningful way. Drudge report posts articles everything BTC takes a shit. Noticeably silent on this. It's almost as if (((they))) don't want Boomers to know.

>> No.57251732

>>57251325
First off, bitcoin isn't even a trillion dollar asset. Any sovereign wealth fund can literally send bitcoin to the moon if they chose to. Secondly, we don't know the production costs of other miners around the world, some of which have zero energy costs. The other dynamic to consider is the scarcity of this asset and the transparent ledger. If say Blackrock dumps the price, then they simply risk losing their own asset as others buy. In this respect, it's unlike gold.
I don't believe it's as sinister as you think. One simple fact to consider is that the treasury market doesn't look good at all, and it's been a decade long trend. Those holding large amounts of paper promises need a hedge or go belly up, and we all can see that the US gov is about to print more money then ever before. This is why Blackrock pushed the SEC to approve. Larry Fink just about admitted that in so many words.

>> No.57251770

No one knows what an etf even is, wait for the money to start flowing it and FOMO to kick off. Should be hitting the media circle this weekend after two days etf trading.

>> No.57251852
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57251852

BTC EFT comes out... alts fucking pump... This fucking shitcoin is DEAD... BTC IS FUCKING DEAD!! You pieces of shit sold me a fucking lie about BTC this BTc that, it was all a FUCKING LIE!!! FUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUCKCCK

>> No.57251900
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57251900

>>57250781
>it takes tons of fossil energy to mine a bitcoin
Same with silver and gold dumbass.

>> No.57251913

>>57250562
it got tamed in 2017 when they crippled the blocksize to 1mb.

>> No.57251934

>>57250562
>BTC ETF approved
I thought that was bullshit? It was approved for real this time?

>> No.57252939

>>57250570
Stop been a retard anon. You can start all over again with altcoins you can DCA into lowcaps like KGO, TXA, XTP, and ROSE. Just hodl.

>> No.57252965

>>57250936
Thats like saying shit is a store of food.

>> No.57252972

ARB hitting all time highs, get rekt bitcucks

>> No.57252981

>>57250628
Are you a retard? The ETF(s) buys BTC, it is taken off the market

>> No.57253005

>>57251900
Yeah that plays an important part in golds price. If it cost $1 to mine an oz gold the price would be crater. Guess what happens when gold drops hard? Mines shutdown and exploration slows

>> No.57253011

You are the retard, they will use the etf to short it. Go back to listening to the twitter shills with the rest of retards

>> No.57253013
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57253013

>>57252965
Have you tested it to confirm it isn't? How about you shut the fuck up Chud and trust the science

>> No.57253029

>>57251544
Most altcoins are not pumping anon. What chart are you looking at stupid you. Even XTP despite how people are pump about it is not pumping yet. But I kept staking it. I've been here since 2018. I've seen it all and know what to expect from runs.

>> No.57253131

>>57250628
It's a spot etf

>> No.57253180

>>57253011
> calling someone a retard but not understanding how an etf works
> kek

They would use futures to short it smoothie

>> No.57254604

>>57250950
I love trashy slampigs so much

>> No.57254663

>>57250628
And GameStop

>> No.57256056

>>57250562
>It's over, folks
You all give up too soon. Damn fucktards!

>>57250770
I think they're already positioned in ETH/BTC; however, if you identify other institutional grade Defi platforms that they'll also be leveraging on and get positioned now, you'll be very early with those ones.

>> No.57256067
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57256067

>>57252981
>he thinks they'll actually back this with real coins
HAHAHAHAHAHA
It's like none of you dumb fucks payed attention to the GameStop baggies even though they've been living on this board for 4 years now.

>> No.57256070
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57256070

>>57250562
nononono goy, believe me, BTC will skyrocket after ETF approval, just wait a little bit, cross-chain swap all your alts in rango!

>> No.57256097

>>57250562
>46.4k follows
The first day of BTC EFT trading has not begun. Today billions will start flowing into the ETF's, driving the BTC price higher.

We'll all be rich by noon.

>> No.57256117

>>57250570
This
I lost 150 icp holding btc

>> No.57256298

>>57256056
Only institutional grade I see is Coinbase and that's not even Defi. These institutional players will avoid the rest like a plague

>> No.57256345

>>57250670
They don’t care, they’re getting their management fee either way.

>> No.57256537

>>57250781
Are we still having arguments about Bitcoin mining in 2024?

>> No.57256584

>>57250562
Account abstraction is following the RWA and Bitcoin Spot ETF approval narrative. This is why I'm all in on DUA.

>> No.57256614

>>57256537
Nope, but we still on account abstraction wallets.

>> No.57256626

>>57250936
Only gold is a store of energy faggot

>> No.57257201

>>57256298
Coinbase was an obvious choice for most of them because they seem to have sorted out most regulatory requirements; Defi platforms like Maker and SpoolFi are already MiCa compliant(there may be others too); so I expect EU institutions to begin leveraging on their services in no time. Defi is a lot more flexible, who wouldn't want to enjoy that?

>> No.57257291

>>57256067
Fuck this guy, poor dodo

>> No.57258348

>>57251770
The FOMO will be mad.
Lol

>>57251934
What difference does it make? It'll definitely get approved for sure!