Frozenbeernuts
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Content Count
31,568 -
Joined
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Days Won
51
Everything posted by Frozenbeernuts
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Will we see 50 today? What's going to happen when the bitcoin etfs destroy all other wall street investment vehicles?
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ESPN's Stephen A. Smith: Embarrassing Geriatric Biden Is The Best The DNC Can Offer America
Frozenbeernuts replied to Blue Horseshoe's topic in The Geek Club
What's really sad, is that the Republicans don't have anyone who could beat Biden this year besides Trump. If you can't beat a guy for the job of preaident who doesn't know what day it is, then it's on purpose. The Republicans going along with this grand plan like good little politicians. -
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Yesterday saw a net inflow of 11,000 bitcoin into the etfs. Their biggest goal is to capture as much bitcoin as possible. They see it as a threat and also a way to make money at the same time. In their pursuit of acquiring as much bitcoin as possible, they will make a few people really wealthy. Are you going to sit by and pray for a cheaper price? I'm not gambling like that.
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I will take profit at some point and then let the rest ride
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Nope. I think this cycle is going to shut up most naysayers. We will look back on the squabbling of Short term price moves as ridiculous. I really think this pawswap bet is going to pay off massively.
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I 100% think FTX stunted the top. I also think wall street was in on it. They realized at some point last cycle that they had almost no exposure and wanted the price at a more acceptable level. FTX sold a lot of paper bitcoin
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I really don't know. I would assume that bitcoin and crypto continue to run into 2025. That's how the cycles always play out. The bitcoin supply being cut in half is going to have a big impact on the price. We are having an increasing demand from institutional investors all vying for a smaller share of coins. It may take time for the supply shock to really start to effect the price. I also don't see any way where the Fed can remain hawkish for an extended period. They will have to increase printing again as things start breaking. Considering how long they have been relatively hawkish already, I would be surprised if they could keep it up. Plus politicians open up the money spigot during election time.
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Cdub was right that bitcoin would dip into the 30s. I was right that any dip would be short lived. Yesterday saw a net inflow of 9,000 bitcoin into etfs. You need to remember that bitcoin has an extremely small market cap when comparing it to other commodities. It's not hard for the price to 5x from here over the next 18 months
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The U.S. national debt is at $34,135,530,482,291 and rapidly growing
Frozenbeernuts replied to seafoam1's topic in The Geek Club
I would recommend investing a currency that is infinite into something finite -
NFL Head Coaching Now Over-Represented by Blacks - UPDATE - the hiring of Radio Raheem brings it up to 22%!!!!
Frozenbeernuts replied to Patented Phil's topic in The Geek Club
I stopped watching football. They care too much about things not related to what happens on the field. My life has been much better since -
You confuse the rules withe the $ valuation. You should know the difference. I never said the price can't be manipulated. The supply can't, but if you pay attention, you would notice what's happening with gbtc. Dollar infinite, bitcoin finite. In the future, people will gladly exchange goods for bitcoin because it will be easy, and bitcoin will be very valuable.
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Unreal. Wall Street is the master a manipulation. Blackrock and Fidelity are buying $433 million bitcoin per day on average, and yet the price is dumping. Grayscale was set up to take the fall. It's fascinating to watch.
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Expect Pawswap to move upward soon
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A good point: gbtc set their fee at 1.5%. That's about 6-8x what the other etfs set their rate at. Barry Silbert steps down right before the etf launches. Gbtc bleeds bitcoin, they had 600k, to the other etfs. Possibly keeping the price subdued so that BlackRock isn't paying more than they have to There is an obvious demand for the etfs since the amount of money that has come through is large for an etf. Long term my bullishness hasn't changed. Buy bitcoin now because this is relatively cheap.
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You were right. The news was definitely priced in. Once the market saw the demand for spot bitcoin etfs wasn't there off the bat, it sold off. It can change quickly, and we have the halving in a few months. Still the halving isn't a massive supply shock with 1.8-2 million coins still available on exchanges.
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The etf approval was priced in perfectly it seems. Let's see how the inflows play out before the halving.
