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Sanrith Descartes

Sanrith Descartes

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Blazin said:
Bitcoin ETF update:

Outflows from Greyscale continue to outpace inflows into the other ETFs but it looks like this dynamic should flip soonish. Still see it being a headwind for several more weeks but the pressure should start to ease.

The ETF growth has been impressive but people definitely underestimated the effect of $28B fleeing from greyscale, which is odd because I don't even really study bitcoin and this became rather clear to me after about 30 mins of research. My interest level still remains low as far as watching this day to day, but I am eager to see months from now what kind of steady passive trickle of inflows the ETF see. Hate being on the same side of a trade as Cathy Wood but I think it's worth the risk for a small percentage investment to see if it adoption can expand.

The normal disclaimers that this is not some $500k investment for me like other stuff. I'm willing to put up to $40k into this understanding that means potential/likely 50% drawdowns.
My opinion is that a speculative investment like this should be limited to 1-3% of portfolio values. I think for "believers" crypto becomes an all in type of investment, and I'm solidly not in that camp. If that results in me eating crow at $1.5M bitcoin price in the future I'm okay with that.

My current redline is the 200d around 32000
Click to expand...
Some new info I saw

 
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Flobee

Flobee

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Mist said:
It's gonna be SUPER funny when one of these gets their wallet drained.
Click to expand...
This sort of transparency makes that less likely IMO. Instead of relying on a small group of regulators and insiders to verify funds are where they're supposed to be you have an army of autists monitoring it. Smart move by Bitwise and I wouldn't be surprised to see others follow.

EDIT: I went about 20-30% harder on the ETF release than I originally intended to (planned 30% to start then scale in, ended closer to 50-60). Feels bad, but its not the first time I've blown an entry probably not the last time. All the advise in this thread about setting emotions aside and sticking to the plan are spot on, wish I was better at it.
 
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Sanrith Descartes

Sanrith Descartes

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Deep green day but more decliners than advancers.

1706123524862.png
 
Mist

Mist

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Flobee said:
This sort of transparency makes that less likely IMO. Instead of relying on a small group of regulators and insiders to verify funds are where they're supposed to be you have an army of autists monitoring it. Smart move by Bitwise and I wouldn't be surprised to see others follow.
Click to expand...
How does this make a security incident less likely?
 
Flobee

Flobee

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Mist said:
How does this make a security incident less likely?
Click to expand...
There would be full visibility of where the funds are at all times. You don't need to trust multiple layers of executives, accountants, lawyers, and law enforcement to know. If someone tries to cash it out the whole world knows instantly where it went. It would be MUCH harder to get away with something like that. With traditional fiat assets corruption can hide where the money goes (see trillions the pentagon 'lost' in 2001 for example) with Bitcoin you can't hide.

It's obviously still possible to have a 'security incident' but its going to be a lot harder to get away with it in a way you can use it. There are ways (using a mixer for example) but with the volume we're talking even that isn't really a solution
 
Jysin

Jysin

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Sanrith Descartes said:
Deep green day but more decliners than advancers.

View attachment 510855
Click to expand...
1pm 5yr bond auction has spooked markets. Drove all longer dated yields back over recent highs. Equities have been declining since. IWM, being more sensitive to rates has taken the brunt of it.

13:02*(US) TREASURY $61B 5-YEAR NOTE AUCTION DRAWS 4.055% V 3.801% PRIOR, BTC 2.31 V 2.50 PRIOR AND 2.52 OVER THE LAST 12 - Source TradeTheNews.com
 
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Foler

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Blazin said:
Bitcoin ETF update:

Outflows from Greyscale continue to outpace inflows into the other ETFs but it looks like this dynamic should flip soonish. Still see it being a headwind for several more weeks but the pressure should start to ease.

The ETF growth has been impressive but people definitely underestimated the effect of $28B fleeing from greyscale, which is odd because I don't even really study bitcoin and this became rather clear to me after about 30 mins of research. My interest level still remains low as far as watching this day to day, but I am eager to see months from now what kind of steady passive trickle of inflows the ETF see. Hate being on the same side of a trade as Cathy Wood but I think it's worth the risk for a small percentage investment to see if it adoption can expand.

The normal disclaimers that this is not some $500k investment for me like other stuff. I'm willing to put up to $40k into this understanding that means potential/likely 50% drawdowns.
My opinion is that a speculative investment like this should be limited to 1-3% of portfolio values. I think for "believers" crypto becomes an all in type of investment, and I'm solidly not in that camp. If that results in me eating crow at $1.5M bitcoin price in the future I'm okay with that.

My current redline is the 200d around 32000
Click to expand...

IMG_5306.gif
 
Foler

The_Black_Log Foler

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Araysar said:
Foler Foler don't buy this. I have a bad feeling about it
Click to expand...
The bitcoin ETF? Yeah it seems insanely speculative. Bitcoin believers think they’re outside the reach of daddy gubment. Delusional.
 
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Mist

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Foler said:
The bitcoin ETF? Yeah it seems insanely speculative. Bitcoin believers think they’re outside the reach of daddy gubment. Delusional.
Click to expand...
Glad Foler is here to give low-IQ rehashes of topics from 6 years ago.

But I mean, at least he brought the Russian Ficus with him.
 
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Araysar

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Mist said:
Glad Foler is here to give low-IQ rehashes of topics from 6 years ago.

But I mean, at least he brought the Russian Ficus with him.
Click to expand...

Dial it down a notch, dude. We're all here to learn and make money.
 
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Araysar

Loser Araysar

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Foler said:
The bitcoin ETF? Yeah it seems insanely speculative. Bitcoin believers think they’re outside the reach of daddy gubment. Delusional.
Click to expand...

It's like going to the gas station to fill up your car but instead of getting 15 gallons of gas for your $40, they just gave you a piece of paper saying you now own 15 gallons of gas.
 
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Mist

Mist

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Flobee said:
There would be full visibility of where the funds are at all times. You don't need to trust multiple layers of executives, accountants, lawyers, and law enforcement to know. If someone tries to cash it out the whole world knows instantly where it went. It would be MUCH harder to get away with something like that. With traditional fiat assets corruption can hide where the money goes (see trillions the pentagon 'lost' in 2001 for example) with Bitcoin you can't hide.

It's obviously still possible to have a 'security incident' but its going to be a lot harder to get away with it in a way you can use it. There are ways (using a mixer for example) but with the volume we're talking even that isn't really a solution
Click to expand...
Okay, you missed my point.

Like yes, they'll probably be able to eventually recover a large chunk of the money in the case of a wallet hack.

But it will still be funny as fuck.
 
Foler

The_Black_Log Foler

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Mist said:
Glad Foler is here to give low-IQ rehashes of topics from 6 years ago.

But I mean, at least he brought the Russian Ficus with him.
Click to expand...
He asked a question and I answered it. I was not soliciting my opinion unprompted. Should my answer to his question be any different than if he had asked it 6 years ago? Why are you so angry?
 
Jysin

Jysin

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Shouldn't be any surprise in the margins. They have been pressured by raising wages while simultaneously lowering prices of their vehicles to capture market share. Would have been some accounting magic if they had beat margins.
 
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ToeMissile

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I wonder how much they were affected by people waiting for the M3/MY refresh to be available in the US.
 
Tmac

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Not sure how many of you guys work in commodities, but the EU has dropped new regulations that are going to transform the way forestry, cattle, soy, etc. supply chains are tracked.

They want a lot more transparency on origin and they’re going to fine companies that can’t provide it up to 4% of their revenues on goods delivered to the EU.

It’s being called “EUDR Compliance” and I’m wondering if it’s going to impact any company or markets in a good/bad way.

Any of you guys got a bead on this?
 
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