[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 324 KB, 675x380, 900.png [View same] [iqdb] [saucenao] [google]
58310772 No.58310772 [Reply] [Original]

do you think there's going to be an extreme supply shock at the halving because of the etfs and reduced mining rewards? maybe we could see 200k within a few days after the halving for this reason

>> No.58310806

>>58310772
bitcoin will go higher than expected this cycle. everyone is hip to the "diminishing returns" meme and is expecting a muted bull run like the previous cycle. in addition, the macro is greatly in favor of bitcoin as fiat currencies will be inflated to nothing. inflation was a theme of the previous bull run, however just like stagflation in the 70s and most other inflationary regimes, the initial bout of inflation is tamed, declared "over" by the mainstream, only to return with serious vengeance. a few years down the line. this will happen to the US dollar very soon.

>> No.58312865
File: 65 KB, 840x700, Precious Memories.jpg [View same] [iqdb] [saucenao] [google]
58312865

>>58310772
You can add grayscale running out to the list as well. As I understand it, lots of institutional investors like hedge fund managers are still jumping through the regulatory hoops to add bitcoin to their portfolio and will be over the next year or so as well. Rate cuts should come soon enough as well. It's going to be beautiful.

>> No.58312966

>>58310772
I subscribe to the mystical theory that the market value of Bitcoin moves in mysterious ways mere mortals cannot hope to comprehend. Media coverage, exchange shenanigans, governmental thumbs on the scale, and wall street games can only ever impact short term volatility.
So called analysts will never run shorts of new reasons to justify Bitcoin's price a posteriori, and it's all garbage.

>>58312865
> grayscale running out
The only reason grayscale is seeing outflow is because investors are moving their coins out of grayscale and into cheaper ETFs. There's absolutely no reason to expect the net inflows will be impacted by grayscale running out of bitcoins to lose.

>> No.58312981

>>58312966
why doesnt greyscale change its fees

>> No.58313027
File: 204 KB, 449x512, 028_smiling_face_with_smiling_eyes.png [View same] [iqdb] [saucenao] [google]
58313027

>>58312981
Greyscale deals in superior quality btc.

>> No.58313050

>>58312981
Short answer: Because they suck.
Long answer: They have a number of long term holders who'd have to foot a large realized gains tax bill before they can move to lower fee alternatives, so they feel confident they can keep milking many of them with their uncompetitive fees for a while longer.
However, Grayscale is also seeking to launch a "Bitcoin Mini Trust", which is going to be the same product as GBTC but with lower fees, because while they're happy to rape their current customers with high fees, they'd also prefer to retain customers exiting GBTC by giving them a low fee alternative of their own.
Finally, Grayscale's CEO claims they'll lowers the fees on their GBTC fund too once outflows get bad enough.
So they're doing this delicate balancing act to try to extract as much fees from their existing customer base without totally killing their business model over the long run.