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/biz/ - Business & Finance

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File: 69 KB, 828x526, BF4BE86C-AD71-40AC-9EF2-850F0C8C4804.png [View same] [iqdb] [saucenao] [google]
57264463 No.57264463 [Reply] [Original]

Wtf is happening?
Qrd?

>> No.57264477

Hand rubbing

>> No.57264482 [DELETED] 

>>57264463
jewish scheming

>> No.57264489

>>57264463
Cuckbase is the custodian for most of those ETFs. They have to buy and sell BlackCock's bags for them.

>> No.57264491

>>57264463
The funds use Coinbase Prime to custody their coins. I think they’re about to quickly run out of otc liquidity and will have to buy off the open market

>> No.57264509

>>57264463
>Wtf is happening?
retards thought ETFs would have to buy BTC on the blockchain lol
how retarded do you have to be. of course this is what was going to happen. you have no idea what price they pay for the asset backing the ETF product.

>> No.57264519
File: 30 KB, 392x590, 1678803969037760.png [View same] [iqdb] [saucenao] [google]
57264519

>>57264491

>> No.57264586

>>57264491
This. We all need to keep our btc OFF the exchanges.

>> No.57264647

>>57264463
And Bearcucks are spreading the conspiracy that ETF issuers aren't buying actual Bitcoins lmao

>> No.57264684

>>57264519
He was bullish retard

>> No.57264762
File: 182 KB, 1194x1116, 1609034780264.jpg [View same] [iqdb] [saucenao] [google]
57264762

>>57264684
I know that was the bears reactions to OTC funds ending up so soon

>> No.57264786
File: 140 KB, 375x337, 6C36F832-CA91-4161-8401-D725B1688199.png [View same] [iqdb] [saucenao] [google]
57264786

>>57264762
sorry bullfren, your reply didn't make that clear though

>> No.57264825

>>57264463
So why didn't the course rise?
Did so many people sell that the inflow got neutralised? What would happen in the next days then?

>> No.57264841

>>57264463
exactly what i said, none of the early gains from etf will benefit us. unless somehow there is massive inflow, and not enough otc. but im willing to bet they have tons of seized OTC enough for a year to keep the market crabbing and let BR in to accumulate cheapy (<50k)

>> No.57264861

it's literally nothing

>> No.57264927

>>57264861
you're mentally ill

>> No.57264930

>>57264463
They have like 60 billion in BTC
Imagine when Coinbase says "Sorry guys we are out."

>> No.57264957

>>57264930
They'll have to buy more off the spot market
That's the point

>> No.57264991

>>57264957
I agree. I just think people are not understanding why it wasn't moonshot today.

They have to use up their reserves first which is around 60 billion and we don't know how long the ETFS have to settle.

GBTC settled at Coinbase every two weeks since 2015 so that could be the metric.

Settlement and lack of OTC BTC will tell the tale and we are a few weeks, months off from that in my opinion.

>> No.57265027

>>57264991
I agree
People expected the ETF issuers to market buy billions in the order book directly which obviously didn't happen
either way supply that otherwise would've been sold in the spot market is going to the OTC desks hence more upward pressure which is good

>> No.57265045

>>57264647
Not a conspiracy just common sense. Why would anybody believe they are going to “buy from the open market”? They can literally do whatever they want until proven otherwise which you cant

>> No.57265050

>>57264491
There will always be whales willing to backstab for a quick buck and keep you poor. This is the end of crypto.

>> No.57265063

>>57265027
it was the same with the Gold Spot ETFs. They were flat for weeks and then.. well it went parabolic and never went back down.

>> No.57265065

>>57265045
>Why would anybody believe they are going to “buy from the open market”?
That's not the conspiracy
The conspiracy is that they're not buying Bitcoin AT ALL kek
We know they're not buying from the open market they're buying through OTC desks

>> No.57265078

>>57265065
>The conspiracy is that they're not buying Bitcoin AT ALL kek
That's a just a conspiracy and there's no truth to it. The Blockchain doesn't lie or scheme.

https://platform.arkhamintelligence.com/explorer/entity/grayscale

>> No.57265080

>>57265065
retards were arguing all this last week that they were going to settle ETF buying and selling on the blockchain.
there's a fucking general thread for a bankrupt company on /biz/
most here are retards.

>> No.57265115
File: 59 KB, 912x383, Grayscale Trust 1-11-2024.png [View same] [iqdb] [saucenao] [google]
57265115

>>57265080
They are going to settle on the blockchain.
GBTC the largest ETF has been around since 2015 and they have settled ON the blockchain every 2 weeks since 2015.

Why are you trying to scare people?

see that ? Settlement on the chain by Grayscale.

>> No.57265120

>>57264463
What does OTC mean?
I don’t know what the acronym is nor what the words mean. Please break it down like I’m 80 IQ (I am)

>> No.57265140

>>57265120
Over the Counter
https://www.investopedia.com/terms/o/otc.asp

>> No.57265139

>>57265120
Over the Counter
Meaning buying and selling p2p basically, they're not dumping or market buying on illiquid order books like you and me

>> No.57265173

>>57265065
Actually you are right. I do not condone fractional reserve bitcoin ETFs. Anything resembling such is criminal and is an abomination. They must hold 100% of the value in Bitcoin on chain.

>> No.57265204

I don't see how the ETFs don't result in massive fuckery from hedgefunds and the government. Generally people who hate crypto. They are going to fuck with the price so much. Short it to oblivion or price everyone out. They might cause it to deviate from the 4 year cycle its been following since the beginning. Shit is going to get weird.

>> No.57265205

Information is slowly coming in about settlement requirements
https://twitter.com/Micro2Macr0/status/1745575034100359489

>> No.57265217

>>57265204
Whales already do this but the difference is they want bitcoin to keep going and im not sure hedgefunds and the government do

>> No.57265227
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57265227

>>57265205
Great info
thanks anon, that explains the massive multi billion OTC orders on coinbase

I still can't believe coinbase is pumping our bags lmao

>> No.57265250

>>57264463
how long until a diversity hire losses or steals the keys?

>> No.57265264

>>57265250
Coinbase is the custodial though not BlackRock

>> No.57265265

What would happen in the event that ETF trading volume started to exceed actual spot btc volume? Massive price swings after market close? Wouldn't people leverage trade the shit out of that?

>> No.57265279

>>57265265
Most swings will happen during US trading hours from now on.
Prepare for Bitcoin to crab when the US market is closed (like it's already doing lmao)

>> No.57265339

>>57265139
>>57265140
So should I keep my BTC on Coinbase, or does it not matter?

>> No.57265353

>>57265339
Ideally you should self custody but Coinbase has been around for so long and is publicly trade that it's safe to say that nothing will happen if you leave your BTC there
Still you SHOULD self custody anon, something can always go wrong

>> No.57265357

>>57265339
You should NEVER keep you crypto on an exchange ever.

https://trezor.io/

>> No.57265399

>>57265353
You are probably right about Coinbase....
It can be bad news both ways
I lost 45 ETH from forgetting the password early on in 2016. I thought nothing of it at the time. Today I think about it occasionally, I transferred it from Coinbase to a private wallet.

I also lost ALOT on Mt. Gox... so yeah

>> No.57265409

>>57265399
I have all of my BTCs on a trezor as well because I'm paranoid lmao

>> No.57265431

>>57265339
You should keep your BTC on a cold wallet

>> No.57265449
File: 63 KB, 592x708, MartyParty-on-X-IMO-The-Spot-Bitcoin-ETFs-will-only-settle-daily-after-US-4pm-EST-market-close-per-S-1-registration-applicaitons-This-is-when-the-The_DTCC-will-process-orders-and-the-issuers-will-have-to-rebalance-their-fund-B.png [View same] [iqdb] [saucenao] [google]
57265449

>>57265227
https://twitter.com/martypartymusic/status/1745424859491098911

>> No.57265472

>>57264463
it's exactly what i said this morning
it's idiotic to hold bitcoin in-network now, normal people will not do this anymore. they will liquidate, and get away from all that bullshit confusing software, security paranoia, etc. and they will just buy shares of the ETFs. there is no reason to have a wallet on your computer or even in coinbase anymore.
BTC will change hands over and over until slowly the "market" is all whales, who shuffle hashes with strings of zeroes inside them around the internet, for no reason -- because all any of you are doing anymore is just guessing at random US dollar movements in the price of the funds.
they're literally more vacuous than a VIX ETF lmao

>> No.57265486

>>57265264
Coinbase can't ever loose the keys?

>> No.57265495

>>57265486
>Coinbase can't ever loose the keys?
The certainly can

>> No.57265498

>>57265486
lose*

>> No.57265528

>>57265045
>retards and their ptsd 'muh gold manipulation'

did you miss the part where bitcoin is a public blockchain you dumbfuck?

>> No.57267021

>>57265472
this, it’s over. BTC is useless if the supply is over centralized. To demonstrate, imagine someone owned all the gold in the world - it’d still be valuable. If someone owns all the BTC supply however, it’s worthless.

>> No.57267330

>>57265115
source of the image? why is it so low, $200?

>> No.57267399
File: 51 KB, 918x341, Grayscale.png [View same] [iqdb] [saucenao] [google]
57267399

>>57267330
https://platform.arkhamintelligence.com/explorer/entity/grayscale

because it is sorted lowest to highest.

>> No.57267404

>>57267021
BTC is not proof of stake, ownership centralizatino does not damages it's operation in fact it gives miners more money.