Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
[edited out]
I agree that in kind redemptions would be the next level. It would ease the workflow and cut one more speed bump/intermediary - I'm thinking about the daily settling business in particular. Also, it may be an additional incentive not to play games with fire (or corn), because when a customer's redemption must be liquidated, the issuers - say, Blackrock - are going to need bitcoin, not fiat.However, I am not so convinced that much would actually change. Investors who turn to ETFs rather than the hard underlying (that's our king daddy), probably do so exactly not to be bothered with magical internet money on their balance sheet or household finances. When they eventually sell their ETFs, I'm betting fiat is what they want. If there were a choice between in kind (btc) or fiat redemption, my gut tells me an overwhelming majority would go for fiat. If not, why get the ETF rather than raw corn in the first place?
Getting in and out of the ETFs is one thing that "in kind" would help, and why they buy the ETF rather than bitcoin in the first place is another matter.
Sure there is ease in holding in the form of an ETF rather than directly owning bitcoin, and with time, some folks are going to figure out the power of self-custody... and/or the disadvantages of having third parties holding your coins.
Maybe we thought that we saw enough negative repercussions regarding third-party custody in 2022, yet sure some folks do not learn from historical happenings.
Admittedly, some persons, entities, and/or governments are not able to hold their own coins (private keys).
Calling bitcoin "digital gold" is such an undervaluation for bitcoin. I don't think people realize there will come a time, when everyone in the world will rely on bitcoin, and it will be impossible to make more of.
Time factor + Price variation + High demand (TPH) = Impossible to make more of it.Sometimes it looks weird seeing people undervaluing bitcoin, though it's just their knowledge and I wouldn't take it as an offense till they get to know the importance of it maybe when it's no longer possible to get more of it.
Demand has to catch up with price, and you are correct that perceived value has to catch up too.
Just because bitcoin has an addressable market and monetary capacities that cause it to be around 1,000x or more valuable than gold, that does not mean that we wake up tomorrow and BTC prices are $900 million per coin. It takes time to get from $100k per coin to $900 million per coin, just as it has taken nearly 16 years for bitcoin to get from $0 to $100k or maybe more realistically (let's not count the first 3 years) nearly 13 years for bitcoin to get from $5 to $100k per coin.
Oh no, he's back..
Alright.
Cryptotourist dies with this post - because of reasons.
It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]
It’s been a real pleasure posting amongst you guys n girls.
Peace out.
Sunset
Cryptotourist dies with this post - because of reasons.
It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]
It’s been a real pleasure posting amongst you guys n girls.
Peace out.
Sunset
Good catch. I recall that supposed sunsetting of the account, but I did not realize that the other post from a couple of days ago was from crypotourist.. I had not noticed the user name... but yeah of course, cryptotourist was a bit of a drama queen in his final days.
Calling bitcoin "digital gold" is such an undervaluation for bitcoin. I don't think people realize there will come a time, when everyone in the world will rely on bitcoin, and it will be impossible to make more of.
Calling bitcoin digital gold is what possibly "saved" bitcoin somewhere between 2011 and 2021, but this is just my interpretation.Maybe 'saved' it too strong a word, but certainly this interpretation cleared it up to gain the acceptance of wider audiences.
I don't buy it.
Bitcoin was not rebranded.
Bitcoin has always had both digital gold characteristics and also peer to peer payment characteristics, and it still does and likely will continue into the future.
IMO even discussing someones opsec in an open forum without first clearing it with them via pm is uncool.
I think the same way... Even if I was one of the first to bring it up I did it in a very tactful suggestive way!!! We all have our own plans even if some of them have changed along the way!!! (why I have this login in the first place)
I have sold what seems like penny's I really wish someone else could give me a roadmap but I got this far on my own!!!
I do plan on selling this cycle like one of my heroes here I am not sure I can call a top or bottom like he can but holy shite if I can even come close!!! (stoopid taxes) But then what I don't think I have any notes after this....
Bad problem to have right?
HK
Unless you are going to die soon, there is likely no reason to sell all of your corn. Sure you could sell some of it.. but yeah, you are the one to choose how to proceed.
What you going to sell it for? Fiat?
Then what?
Many times guys can sell some small fraction of their coins and still be quite well off with that particular trade or to engage in sustainable withdrawals based on price and/or time, especially if they have been accumulating BTC early.. .. Let's say that you did most of your accumulating between 2015 and 2017.. so perhaps your average cost per coin is in the ballpark of $1k per coin.. currently you are 100x in profits but then you want to sell for 350x in profits?
You can sell small amounts at any time, so why rush selling large portions of your coin? and then end up a low coiner or worse yet a no coiner?
Allow me to post in advance, looks like we will be back soon...
That bird... (is it a penguin?) is going the wrong way.~snip
Yeah we're pretty much headed sideways
Could you slant that blue bird a wee bit MOAR UPpity? And, stop ruin'in dee moo.
