Thoughts on What will happen with the miner stocks prices once etfs are approved?
Crypto-trading thread
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Last: 2 hrs ago by Heineken-Ashi
There will prob be a bitcoin sell off as everyone will front run the ETF approval and drive BTC price to $50k. Then we prob drop to 45k before we good to the moon.
Sign up for Coinbase one. It's free for a month. It will waive any transaction fees. But why sell when Bitcoin is going into a having year?
Thanks Done -- I'll look into this. I assume you can set limit sell price on Coinbase One? On my version it looks like you can only sell on spot price.
You should be able to do limit ordered. On the sell window top right corner change "one time order" to "limit order".
Etf approval this week. Gonna be a big week
SIAP...just noticed that Fidelity now lets you buy BTC and Ethereum. However, you can't yet transfer assets to your offline wallet. That gives me heartburn but curious if anyone has purchased through Fidelity yet?
YouBet said:
SIAP...just noticed that Fidelity now lets you buy BTC and Ethereum. However, you can't yet transfer assets to your offline wallet. That gives me heartburn but curious if anyone has purchased through Fidelity yet?
I have, a decent sized order a couple months ago. I market bought.... big mistake and was down a couple points instantly. Not much liquidity there and there was no order book.
Avoid.
What do mean "not much liquidity there"? Don't they trade on Bitcoin and eth blockchains?
???Done7 said:
What do mean "not much liquidity there"? Don't they trade on Bitcoin and eth blockchains?
The blockchains aren't trading platforms. Fidelity has their own platform where users can buy and sell, but there aren't many people doing it so the books are thin.
SEC Twitter message about approving the BTC ETF's goes out… Gary Gensler tweets 5 mins later that they were hacked and it was all fake news. There was never any other way.
TxAG#2011 said:???Done7 said:
What do mean "not much liquidity there"? Don't they trade on Bitcoin and eth blockchains?
The blockchains aren't trading platforms. Fidelity has their own platform where users can buy and sell, but there aren't many people doing it so the books are thin.
I missed this distinction the first time. IOW, it's a closed loop system and you are buying and selling within the walls of Fidelity.
Yeah, I'll pass on being a first mover for this one.
so with a new ETF coming soon for Bitcoin
what would be the advantage to still owning the actual Coins on the Blockchain?
it's a PITA to deal with the cold storage wallet and the transfers back and forth to coinbase.
versus simply buying the ETF on Fidelity and not having to worry about losing your passwords.
what would be the advantage to still owning the actual Coins on the Blockchain?
it's a PITA to deal with the cold storage wallet and the transfers back and forth to coinbase.
versus simply buying the ETF on Fidelity and not having to worry about losing your passwords.
not paying management fees, for one
also there is actually a DeFi and NFT ecosystem developing on Bitcoin atm. If that is something you may ever consider participating in, you aren't going to want to get your exposure via an ETF.
also there is actually a DeFi and NFT ecosystem developing on Bitcoin atm. If that is something you may ever consider participating in, you aren't going to want to get your exposure via an ETF.
Leander
Not much different then any other derivative market is it? There are obvious pros and cons to owning the derivative versus the original asset (be they physical or digital) and in the end it totally depends on your individual goals for the investment.
There are funds for gold or real estate and of course stocks, but they don't accomplish the same thing that owning the asset outright does...
There are funds for gold or real estate and of course stocks, but they don't accomplish the same thing that owning the asset outright does...
LMCane said:
so with a new ETF coming soon for Bitcoin
what would be the advantage to still owning the actual Coins on the Blockchain?
it's a PITA to deal with the cold storage wallet and the transfers back and forth to coinbase.
versus simply buying the ETF on Fidelity and not having to worry about losing your passwords.
Here's a thread on why to hold bitcoin over Paper bitcoin.... you lose your self-agency.
A hidden gem in the BlackRock ETF filing.#GetForked https://t.co/tER6xxZPui pic.twitter.com/Qdt8BZ2OEZ
— Anil ⚡ (@anilsaidso) June 15, 2023
Can't really see many. The asset management fee might even be comparable to the fee to buy/sell on coinbase.LMCane said:
so with a new ETF coming soon for Bitcoin
what would be the advantage to still owning the actual Coins on the Blockchain?
it's a PITA to deal with the cold storage wallet and the transfers back and forth to coinbase.
versus simply buying the ETF on Fidelity and not having to worry about losing your passwords.
And that's not even accounting for the significantly increased risk of cold storage.
definitely want to investigate the new ETF and if it will actually track the price of the underlying asset such as GLD or other derivatives
I guess one thing is that perhaps the creators of the Bitcoin ETF will set it up with huge load fees, so that you are paying an exorbitant amount to hold the ETF instead of not paying anything (once you have it stored in a cold wallet)?
I guess one thing is that perhaps the creators of the Bitcoin ETF will set it up with huge load fees, so that you are paying an exorbitant amount to hold the ETF instead of not paying anything (once you have it stored in a cold wallet)?
ETFs approved
Leander
NewsyJohnson said:
ETFs approved
I haven't seen an official announcement. Where are you seeing this?
Nm
Lots of publications but the announcement crashed the SEC website so no link. Which is the perfect way for this to end.
i'm confused, i was told the government was 100% going to ban bitcoin.
Alts ripping
TxAG#2011 said:
Alts are riding BTCs coattails, per usual
FIFY
“There is no red.
There is no blue.
There is the state.
And there is you.”
“As government expands, Liberty contracts” - R. Reagan
There is no blue.
There is the state.
And there is you.”
“As government expands, Liberty contracts” - R. Reagan
So, we got in way before BlackRock 🤷🏻♂️
— Nayib Bukele (@nayibbukele) January 10, 2024
VanEck makes a good point
1/ We are not tourists to bitcoin. For 7 years—since 2017—we have been advocating for the approval of an ETF and educating the market through breakfast seminars in our midtown office, research papers, and more.
— Jan van Eck (@JanvanEck3) January 10, 2024
Pepper Brooks said:TxAG#2011 said:
Alts are riding BTCs coattails, per usual
FIFY
Bitcoin gets nice gains, alts get you rich
They are all in a price war cutting fees. A few are waiving all fees for 6 months and then the annual fee is in the range of most non broad index funds.LMCane said:
definitely want to investigate the new ETF and if it will actually track the price of the underlying asset such as GLD or other derivatives
I guess one thing is that perhaps the creators of the Bitcoin ETF will set it up with huge load fees, so that you are paying an exorbitant amount to hold the ETF instead of not paying anything (once you have it stored in a cold wallet)?
TxAG#2011 said:Can't really see many. The asset management fee might even be comparable to the fee to buy/sell on coinbase.LMCane said:
so with a new ETF coming soon for Bitcoin
what would be the advantage to still owning the actual Coins on the Blockchain?
it's a PITA to deal with the cold storage wallet and the transfers back and forth to coinbase.
versus simply buying the ETF on Fidelity and not having to worry about losing your passwords.
And that's not even accounting for the significantly increased risk of cold storage.
The advantage of owning the coins is you own bitcoin.
If you buy the etf, you aren't buying bitcoin. Period.
If you buy the etf, you aren't buying bitcoin. Period.
It's too decentralized so they figured the next best thing is to tax it.ac04 said:
i'm confused, i was told the government was 100% going to ban bitcoin.
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