Member Info for red_rag_to_bull

The price could end up anywhere today....it's looking at over $50k anyway

No it didn't - Core CPI came in nearly bang on consensus. That's what the Fed are looking at. Headline slightly up, but that's not the focus.

For those who are actually interested in the Spot STF tickers themselves (and might have the ability to track the trades), here they are:

Grayscale $GBTC

Hashdex $DEFI

Valkyrie $BRRR

Invesco $BTCO

Wisdom Tree $BTCW

Franklin $EZBC

Blackrock $IBIT

Fidelity $FBTC

Vaneck $HODL

Ark 21 $ARKB

Bitwise $BITB

Between first trading day AUM figures and potential trad-fi leg-up if US CPI comes in at/under consensus, tomorrow could be one of those wild days.

This is ll on Bloomberg - SEC X account was compromised. Couldn't make this all up

What a shambles

Game on

Getting outta bed to reply to this nonsense. You clearly are a 'Top 5 risers' dude. That's fine.

Some of us here are long-term holders and underwater...and yup, that's my problem.

Thing is though, this is monetary game dude. You don't seem to grok the fact that history is not a ruler of the present. Different rules now, therefore different numeracy, ergo, different results.

It's only a number and an IOU that opens tomorrow and closes tomorrow. Buy some Bitcoin if you want certainty.

I'm just really mind-dumping tbh with something that is more than likely, wildly into the future where capital controls might become a 'thing' again. Thought experiment really, but should have gone to TFTC or Bitcoin Cafe. Best of luck all - green on the board tomorrow i suspect (price, not filters....bit of both probs) 😊

Also, most people are totally plugged-in to a system that only ever favours things going up, which a derivative has facilitated. What happens in a world where the denominated price decreases, without derivative, and supply can't increase? Also, if things become plentiful, why derive? Jeff Booth is your man to fill you in on this and check out Larry Leppard for why derivatives are predominantly a race to the bottom. Too much excitement for me in one day - hitting the hay 🤣

Thanks, but i disagree. I think one of the reasons that BTC has been green-lighted by the SEC is that there has been a wider discussion between various other US institutions to ensure that this is just the start. Derivatives on anything that can't be backed one-to-one should be banned entirely, so should be limited only to agri and certain commodity cases. I can understand where you are coming from, but that ecosystem won't come from those at a state level or those that are from the BTC OG set. That will get squeezed out quickly if seen as a threat as both maxis and state believe in a multi-gen mindset.

Sorry for 'spamming', but i should have said....

Some of the custodians and providers of Bitcoin ETFs are going to want a place to be able to arbitrage their exposure if they can't hypothecate. The simplest way to do this in current ETFs is to simply borrow against future supply, but this is a widow-maker in the Bitcoin world and not even technically possible on a unit-per-unit basis. Being able to 'ensure' a supply through a capital working arrangement allows for greater liquidity and it's possible (only possible), that those that are using this as part of ETFs or wider fund mechanisms would pay miners a premium to mine and hold their Bitcoin as BTC DRs with a bond-like term premia assocaited to them. This could be massively lucrative for miners.

This does not sound like the share for you bud. Try a 90% shakedown over a year and then i'll start to think a 10% drop on a placing announcement is something to get out of bed about

BTW - this is also an under the radar story given the noise on ETFs. Basically, this could be a starting point for an instrument that will invoke a capital reserve that would be similar to Fort Knox and basically offers a nation-state level control over UTXOs. Global (nee-US) FIs are awake and are now thinking with a game theory mindset. https://www.coindesk.com/business/2024/01/04/citi-alumni-founded-startup-to-offer-bitcoin-securities-that-dont-need-green-light-from-sec-bloomberg/

Agreed. I was actually relieved to see the placing this morning rather than next week, when full-on mania might be starting. I still don't think a lot of people have grokked the sort of wall of money that is about to enter this space. See multiplier potential from trad-fi released today here: https://x.com/DylanLeClair_/status/1744409469524594910?s=20

Personally, i think given the supply shock in April and the trad-fi marketing push that's going to need to be done to ensure that the strongest survive, low ETF fees are going to need to lead to higher block fees (in time).

I thought that might have been executed on 30/12/23 if that were the case. Hence, a bit of proft taking and dip before said date? Who pays you for this cack?

Ive been here 4 years and seen many a debacle. Friday otherwise...

Here's to those that held their nerve despite a lot of critique. Never bought the 'hoodie', always thought there was money to be made. Still awaiting profit mind you.....

😊 Cool brother. All the best for 2024!

It might not be ‘early’ as SEC will allow time for completion and commencement of trading to occur. That’s a standard practice to allow ducks to get in a row.

Possibility of knowing on 3rd January. I’m expecting the green candles to be in the house tomorrow.