Frozenbeernuts
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Everything posted by Frozenbeernuts
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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.
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Ok, wall street is officially advocating for bitcoin. BlackRock has a bunch of pro bitcoin bullet points now. This is interesting to witness. What will dwarf this move is when nation states start buying up bitcoin. Some may even print money to trade for bitcoin. I know I would if I had access to the printer.
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The 401k is through my hall. I don't think I can move it like that
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I'm looking to increase my buying power period. Using usd as a measure is the only way I know how to do that for now. Maybe eventually things get priced in bitcoin The thing about the usd is that all fiat currencies fail eventually. Maybe the dollar is super special and the US can keep it going? I know that unfunded liabilities are over $170 trillion. If it happens it won't be for a while. Bitcoin can't be used as cash unless an L2 gets figured out. Lightning isn't the answer I thought it would be as of now. One thing I do know is that the bitcoin usd pairing is going to get ridiculous. Like I said, we are going to see bitcoin be worth multiple millions of usd per dollar. People are going to want bitcoin to preserve their wealth over dollars. Plus you can use bitcoin like money.
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I don't think so. I think we might see some volatility, but I doubt we go under 40. Any dip will be very short lived. About to hit $47 right now.
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What else are we going to use to gauge an increase in value? Bitcoin to eggs? Houses? Horses? Silicone? The USD is the most ubiquitous unit of account that exists today. What else would you recommend as a unit of account to compare bitcoin to?
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Apparently not today. Price is not moving. Which is fine. This is a historic moment. Wall Street will usher in billions of dollars into bitcoin through these funds. I just wish my 401k provider wasn't stuck in ancient times with 0 plans for exposure to bitcoin etfs.
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The SEC has officially approved all 11 spot ETF applications. This is an epic moment in history and the beginning of a new era. I will be holding custody of my own bitcoin. I don't trust someone else holding it, but I appreciate how much money it is going to bring in. This will play a large part increasing my buying power. The price isn't spiking, which is a good thing imo. Save the volatility for another day. Now that the news is out, I would assume people are less skittish to jump in.
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What do you think is going to happen when: The ETF applicants are making actual commercials promoting bitcoin. Wall Street has a vested interest in bitcoin number go up. The bitcoin etfs are destroying the returns of everything else available on wall street. It's as blatant as it gets. I was wrong in 2021 because short term price predictions are really difficult. I wasn't wrong that bitcoin will continue to go up and up. It will be worth well over $1 million in our life times. Probably multiple millions of dollars.
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Idk what year I started. Probably 2021 when I thought it was going over 100k for sure. It didn't. I was wrong that year. I don't see how we don't achieve that this cycle considering wall street now has a massive financial incentive for the bitcoin price to go up. These etf applicants are making actual commercials promoting bitcoin that they are going to unleash on the public.
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If bitcoin goes over $100k by next year, will you wish you had bought some? How about $200k? $300k?
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The SEC Twitter page was indeed hacked. The first thing the hacker posted was just the #btc ticker. They then deleted the tweet and posted an official looking etf approval. Most likely the SEC had made that tweet and saved it to drafts to release today. Today the ETF will be approved. I think that will mean tomorrow they will begin trading. These ETF controllers are all lowering their fees for a race to the bottom. Yesterday was a fun day seeing all the memes that were birthed from that screw up. The SEC has sued companies before for not securing their digital identities well enough.
