Quote from: cellard on August 04, 2018, 05:35:57 PM

According to the document:

Quote

[The ETF], under normal market conditions, will use available offering proceeds to purchase bitcoin primarily in the OTC markets, without being leveraged or exceeding relevant position limits.

So it's not like they are going to start buying chunks of 25 BTC in exchanges driving the price up (25 BTC is the minimum amount you can get per share with this ETF so it's aimed at well off investors). The speculation will be what drives on-exchange price due the fact the ETF passed.

Other than that, it's just irrelevant for Bitcoin. You aren't holding Bitcoin unless you are holding the keys yourself in cold storage. But whatever helps pump the price I guess.

25 BTC per share?? That's $175,000 per share! This is going to get absolutely nowhere as far as I'm concerned. That's a ridiculous investment, even if I had several million sitting around. No institution is going to think about getting into that either.

Quote from: 1Referee on August 05, 2018, 03:41:03 PM

Quote from: BrewMaster on August 05, 2018, 03:18:34 PM

now there are only newbies, whales and high risk takers in the market. it is not just bots!

Maybe you need to open your eyes and analyze the trading activity that's going on, which has been going on for months to put it more precisely. It all (at least the far majority of the activity) reeks of algorithmic trades not caring about anything other than the fundamentals the chart is offering them. Bots don't care if we're in a downtrend or uptrend, they just try to squeeze out every possible penny if they see an opportunity.

Charts don't offer fundamentals. Those are called technicals.

No one with any sense would be trading in a sideways market like this.

Quote from: gentlemand on August 05, 2018, 12:55:31 AM

Wall St turning up and ejaculating everywhere is a form of adoption in itself and absolutely inevitable for any monetary instrument once it grows beyond a certain size.

For them to never express interest would necessitate eternal worthlessness

That's a sign that there's value. But it's also a warning sign for us. Same thing for that NYSE thing that got announced last week, they want to get their dirty little hands in our pot