ETH, BTC, and the ETF

>>1837618
>What do you think will happen to the prices of BTC and ETH in the next week?
I'd guess they will rise if there is an ETF, because more demand = more price…

I guess a lot of folks couldn't be arsed to get into that whole bitcoin stuff, but will happily buy an ETF that they can get with their normal trader. I know I will..

>>1837618
>ETF approval is priced in

Well no, ETF approval means millions of dollars worth of bitcoin will need to be purchased by the body issuing the ETF.

>>1837618
>If ETF is approved BTC will increase by 5%

Top kek more like 500%

>>1837655
>Well no,
Well, not necessarily no.
Apart from some hardcore "believers" and folks that actually use bc as a currency to buy herbal teas and decorative crystals, most folks use it as a speculative investment.
And those are the core demography for the ETF. And it might well be, that most people who want to "own" bc, waiting for them to increase in value have already done so, and thus the ETF will find no customers.
As indicated above, I don't think so either, but that is a possibility.

>>1837673
I don't think you understand.

The body issuing the ETF has to buy large quantities of the underlying asset, in this case bitcoin.

>>1837679
>I don't think you understand.
What makes you think that? Because
>The body issuing the ETF has to buy large quantities of the underlying asset, in this case bitcoin,
only if someone is buying the ETF. If no one buys the ETF, the ETF won't buy bc.

>>1837618
Anyone thinking of buying into BTC now?

>>1837618
BTC will probably dip for a bit but go back up eventually. It still gained a bunch of exposure.

ETH is going to go up regardless because of the EEA.

The two markets aren't necessarily related. BTC is gold, ETH is oil.

>>1837712
>BTC is gold, ETH is oil.
these memes again

>>1837748
It's literally true though:
>BTC is like gold: a store of value
>ETH is like oil: programmable and able to be used for smart contracts like oil is able to be used for a variety of products
It's a meme, but it's a rather appropriate meme.

>>1837706
I bought some last week when it was expensive as fuck. I figure I'll either buy more when the ETF approval doesn't go through and it dips or take some modest gains when if it does go through.

Does anyone think it would be a good idea to sell the BTC that I have (purchased at about 1200) if the ETF fails and then reinvest the cash when it dips fully?

>tfw when you considered buying some back in 2014 but never got around to it

File: 1345044083184.jpg (51KB, 640x456px) Image search: [Google]

51KB, 640x456px

>>1837688
>only if someone is buying the ETF. If no one buys the ETF, the ETF won't buy bc.

bitcoins biggest bubble lmao.. i dont think its worthwhile. think of bitcoin as the beta version of cryptocurrency there will be plenty of ups and downs and fuckups, it'll probably end in some giant hacking or security flaw that destroys the entire market..100%

>>1837774
You forgot to say "buy ETH", shill.

>>1837768
I'm not sure how I should interpret your meme arrows and the animal from reverse leafistan.

>>1837845
Why would no-one buy the ETF when the demand for bitcoin has been growing steadily since September 2015, and the mere news of ETF approval would make demand skyrocket? (nevermind the fact that the ETF makes bitcoin a LOT more accessible to normies)

The question here is "will the ETF pass?", and the answer is "most likely not, but it's not impossible".
The question isn't "will people buy the ETF?", because that's pretty much a given.

>>1837688
Are you actually retarded?

>>1837855
OK, I see. I was just starting to think that one of us has a fundamental misunderstanding about what an ETF is/how it works.

>Why would no-one buy the ETF when the demand for bitcoin has been growing steadily since September 2015, and the mere news of ETF approval would make demand skyrocket? (nevermind the fact that the ETF makes bitcoin a LOT more accessible to normies)
Well, wall street et al. probably already has found ways to partake in bitcoins, and normies that are interested in it, probably already have done so too, which leaves small scale "investors", that want a solid stocks, ETF and bonds for their retirement.
And those folks are certainly not suddenly going to buy bitcoin, even when it is a convienient ETF. I certainly don't see my banks advisors advising stuff like that, even when you tell them that you want high risk stuff.

>The question isn't "will people buy the ETF?", because that's pretty much a given.
I think so too, but wouldn't take it for granted.

>>1837857
Last time I checked, I was not, and I'm pretty sure the paint I am eating is lead free.

>>1837869
Ok grandad.

>>1837688
So this one doesnt pass purposely, bitcoin dips, they buy at a low price, then try another etf

Got it... gonna wait to buy the dip

>>1837885
Still a few days of pump ahead before the announcement on the 11th.

Satoshi knew what he was doing bitcoin is mooning and will hit 3000 before the year is over at a minimum

Any chance they announce earlier?

I have upwards of 1500 to spend on bitcoin

Should I spent all NOW or SOME and buy the rest IF BIT drops?

How much on ETH?

>>1837954
If bitcoin really went mainstream satoshi could end up being the richest person in the world.

>>1838690
Imagine crashing and burning the fed and bitcoin holders become the new elites

Glorious

>>1838115

no one knows retard

and anyone that says they do are lying.

https://www.scribd.com/document/336204627/Bitcoin-Investment-Trust-Spencer-Needham#fullscreen&from_embed

25% chance sounds like a sure thing after betting on trump with 1% chance of winning

>>1838115
250 BTC
1250 ETH

ETH could very realistically make it to the moon

>>1837656
it will increase by 15% then fall about 50%. it's the nature of the beast.

>>1837655
>implying they will buy the bitcoins they sell you on paper

If we don't get a winklevoss etf I say someone shoots up the Gemini hq

If we get one, I will personally suck each of the winklevoss cock

File: 1486940147524.jpg (156KB, 768x768px) Image search: [Google]

156KB, 768x768px

Where to sell ETH with a minimal / without a fee when the time comes?
I bought 250 eth at $16 on coinbase, wondering where I should sell them after the moon landing

File: IMG_0221.jpg (20KB, 350x263px) Image search: [Google]

20KB, 350x263px

winklevoss remind me of handsome squidward

>>1838711
Only real answer in this thread rest is BS.

Okay I posted this in the other thread but let me reiterate it here:
These guys are fucking natural born chads, they are good at everything they do. They wake up in the morning, brush their teeth, admire and compliment each other.. come on let's be real here these guys never had a girl problem. They had a family guy and simpsons episode about them.

Chads to the bone. Winklevoss ETF will be approved, as chads always get what they want.

File: ANDREAS.jpg (15KB, 251x334px) Image search: [Google]

15KB, 251x334px

Who can elaborate on this?

The largest Bitcoin mining pool (AntPool) just mined a BU block.
Grab your popcorn, the next 24 hours are going to be interesting.

>>1838690
>shocking twist satoshi is a Rothchild

>>1838902

And then Chad shits all over the kind of beta whos interested in Bitcoin.
Have fun!

>>1838918
>The largest Bitcoin mining pool (AntPool) just mined a BU block.
What does this mean? They are forking?

When will the deal be approved or not?

>>1839176
Before Sunday, don't know why because the official deadline is May 1st.

The announcement could be on Monday though.

which wallet does /biz/ recommend to store ETH? Mist seems kind of buggy

>>1839204
I haven't transferred anything to it yet, but Jaxx looked most similar to electrum wallet. You can backup just the seed phrase.

File: p4p4.jpg (28KB, 420x420px) Image search: [Google]

28KB, 420x420px

>>1839219

>agree with other guy that mist wallet does not seem like the best option
>look into Jaxx and Exodus
>both look fantastic
>neither are open source
>find one that IS open source
>its only for phones
>don't feel like keeping a wallet on my phone
>sell ETH at 20 and decide not to play this cryptocurrency game anymore

feelsgoodman

File: PzHu2yli.png (23KB, 615x615px) Image search: [Google]

23KB, 615x615px

Monero = only fungible cryptocurrency available. As blockchain analysis continues to improve, more people will get fucked as they are now via association with "dirty" bitcoin addresses.

Check out Monero

someone talk be out of dropping 8k on eth right mow

>>1839244
ETH will have zk-SNARKS which will allow anonymous transactions. I've had trouble finding laymens info, but I think if executed right could blow out Monero.

>>1839247
Do it slowly at least, I'll probably continue adding $2-500 a day assuming things stay the way they are.

What is ETF?

>>1839412

Exchange Traded Fund

Gnu =
Gnu is
Not
Unix

the Gnu in Gnu is Not Unix stands for
Gnu is
Not
Unix

ad infinitum

>>1839417
extra terrestrial fund

u invest in it to go straight to the moon

File: smug4.jpg (799KB, 1080x1080px) Image search: [Google]

799KB, 1080x1080px

>>1839425
Made me laugh real good anon, thanks

>>1838918
>Who can elaborate on this?

Bitcoin core wants segwit. They want a soft fork. They claim a hard fork would irreparably damage btc.

BU doesn't want segwit. They want bigger blocks. BU was a minority for a long time. Segwitters and BU have been fighting. Looked like SW would win slowly in long run.

Until this. If others follow suit, bitcoin will be more like digital cash, but the blockchain will grow exponentially, requiring much, much greater resources for mining or even running a node. But tx fees will go back down below a cent (hopefully)

>>1837673
You may not buy bitcoin as an asset in most tax advantaged retirement accounts, just as you cant short stocks, either.

However, I can buy a triple short peruvian lambswool etf if it exsts.

Similarly, while I can't buy VTC or ETH directly in most retirement accounts (self directed are different, but they are less than 1/20 of 1% of retirement accounts), I will be able to by a cryptocurrency ETF in my account.

The total, approximate net assets in retirement accounts in the US is around $25 trillion, of which about $8 trillion are in IRAs

This $8 trillion is the target market for an ETF.

If you can pull1/10th of 1% of this market into a BTC ETF, you will have a market cap of $8 billion. since most etf's strive to have very close NAV and Market Cap, that means, at current pricing, it would have to buy about 6 million BTC to meet the demand.

It is stupidly unlikely that the etf would attract .1 percent of the total IRA market, but what about .01% (600,000BTC) or .001% (60,000 BTC)?

I am not saying it would happen, but this is what it looks like.

On the otherhand, for those with relatively low computer skills, buying and trading BTC and ETH are still kind of difficult, so an ETF makes it easy, even if you are paying a slight premium for the product.

>>1839193
>>1839176
I read the announcement would be made on Friday

What other Cryptos are healthy and may hold promise? What is your rationale?

I am kind of interested in cannabis coin, even though i dont smoke. I think Trump's threats to crack down on pot could drive more business underground and having a crypto helps avoid the tax man.

its soo fucking cheap, too, You could buy 100,000 Cann and forget about it, wake up in 3 years and realize it went bust and who cares. or it is a real $ to CANN ratio and you now have $100 grand

Others?

>>1839486
XMR if drugs are your angle, but I think anonymous ETH might also happen.

I really doubt anything will come of cannabis coin.

>>1839486
Cannabis coin is hilariously "pegged" to the price of a g

This is the memiest thing I've ever heard. Apparently they mean the medical prescription price for a gram, but still wtfff

Anyways if you buy it now and it goes to the price of a gram that's like a 40,000x on your investment

Biz, Would i be stupid to buy 5k USD worth of bitcoin at this particular time? I understand it is a very high price point at the moment but i have no plan on selling it and don't mind holding on to if for a couple years. Provided this deal doesn't go through would it really be such a big deal to take a loss as i would more than likely gain it back overtime ? thanks

>>1839749
At least wait until the resolution of the ETF

>>1838876
Not necessarily all of them, but they will have to buy millions worth of bitcoin.

>>1839749
If you're planning on holding for a long time, now is a great time to buy, because it won't really matter if the etf is rejected (whatever 10% loss that will recover) but if it is approved then you miss out on some pretty incredible gains

>>1839774
This.
Bitcoin crashed by 36% in early January, and it was back up and higher than ever less than two months later.

>>1839486
Trump is going to legalize weed

>>1839939

No chance Sessions will do anything to help marijuana and recreational use.

>>1837618
ETHERIUM PUMP AND DUMP SHILL COCKSUCKER LEAVE MY CONTAINMENT BOARD NOW.
SAGE
SAGE
SAGE
SAGE

>>1839770
they will just buy futures contracts for them or some other virtual form they will not have more than a dozen btc in their wallets. that's the fun thing about etfs they don't actually change the physical supply.

>>1839749

> normie

Okay. When you see people like this, you run. Two rules:

> buy the rumor, sell the news
> sell when mom n pop start buying (normies)

Any questions?

will ETH dip soon? I bought a bunch at 16 and need more. $20 is fucking nuts though, only getting 5 coins per $100

>>1840643
Nah, that's not how this type of ETF works.

In this case, they have to actually buy the bitcoin that gets purchased via the ETF.

>for every share of the ETF sold, an “authorized participant”—the fund’s market maker—will have to buy an equivalent amount of bitcoin
https://www.wsj.com/articles/irrational-exuberance-for-bitcoin-etfs-1486350601

If this thing passes, the price of bitcoin could easily double.

>>1839229
>2013
>BTC wallets are shit
>not open source
>i sold at 20 dollar
>yfw 2017

>>1840749
H-how many anon?

>>1837655
>there's no way to track the price of something other than buying that thing.

>>1840771
See >>1840671

That's literally how this is going to work.
There are different types of ETF after all.

>>1840770
Tbh I think Bitcoin is unique in history. Maybe Ether will become worth 1000$ because it's technologically is better or it's becoming worthless because the companies who want to use such technology create their own crypto currency. Nobody knows and nobody will ever know. If you have money left, buy! But don't expect becoming rich.

>>1840797
I mean how many buttcoins did you sell at $ 20?

>>1840834
i didn't get into mining at $10 because by my calculations it would have never been worth it. sadly by the time the price climbed asics ruled everything and there way year long waiting lists and controlled leak by the manufacturers..