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bitcoins

11 spot efts approved. Since this is a spot and not a futures ETF, the spot will have to be backed by Bitcoin. This changes the game. If BlackRock dumps 20 billion into their fund they will have to back it up by buying the equivalent amount of BTC. There are now 11 of these funds.
Congrats if you are a Bitcoin holder. If you are not, you may never get a chance to acquire just one.
 
panthera said:
11 spot efts approved. Since this is a spot and not a futures ETF, the spot will have to be backed by Bitcoin. This changes the game. If BlackRock dumps 20 billion into their fund they will have to back it up by buying the equivalent amount of BTC. There are now 11 of these funds.
Congrats if you are a Bitcoin holder. If you are not, you may never get a chance to acquire just one.
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Yay, with the ETFs approved, Satoshi's vision is finally realized!
 
Satoshis vision was realized with the Genesis block. That's why satoshi disappeared. Vision of a working peer to peer system was realized.
 
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At what cost, though?

The Bitcoin system takes a lot of energy and machines to maintain. I don't know what the real numbers are, but it is significant.
 
Climber said:
At what cost, though?

The Bitcoin system takes a lot of energy and machines to maintain. I don't know what the real numbers are, but it is significant.
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Less than the amount of energy spent on Xmas lights in the month of December. The entire network uses less. Banks use 50x the amount Bitcoin uses.

The large institutions are now buying 12x the amount of Bitcoin a day than is produced. This is the catalyst for the next bull run which is what's happening right now.
 
Bitcoin consumes more energy in a year than many entire countries do. More than Australia, Norway, and Argentina, for example. Bitcoin accounts for nearly 1% of global energy consumption, and it doesn't even have real value.
 
Bitcoin mining favors countries with cheap energy and cheap energy is dirty energy.
 
byke said:
Bitcoin mining favors countries with cheap energy and cheap energy is dirty energy.
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No true. One example is El Salvador, using geothermal from their volcano. Then you have Exxon that uses flare gas. Instead of burning it off into the atmosphere, they run it through a generator to capture the stranded energy. And Texas is a huge mining hub and they use it to stabilize their grid. None of that is dirty. These are just 3 examples. You can certainly find cheap dirty energy but that's not the whole picture or the majority.
 
I find it hard to believe that any BitCoin miner is going to go out looking for green energy to run their machines. IMHO, they're going to look for the cheapest source of energy they can use, they are in it to profit, after all.

Caveat: If the cheapest energy is solar, I don't doubt they would use it, but it's only good for daylight hours, unless they have batteries. I haven't looked into the economics of cost vs return on that.
 
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All time high. With the etf’s massive daily inflows, a favorable administration, and banks now able to custody Bitcoin for their clients, Bitcoin will be over 100k in 2025. Holding bitcoin is the best hedge against inflation. If you can’t stomach self custody, you can always invest through your retirement plan or buy the etf. IMHO the fidelity etf is the best.
 
I was looking for this thread yesterday, saw they had hit an all time high.

We'll see where it goes, there have been plenty of promises in the past.
I heard that Musk had picked a different crypto this time around...I wonder if he's starting to quietly cash out again, it worked great for him last time around.
 
When Tesla sold a portion of their bitcoin holdings it was actually at a loss. https://techcrunch.com/2023/01/31/tesla-records-204m-loss-from-bitcoin-in-2022/
If they would have kept those bitcoin they would be up 1 or 200%.
This asset class is passing everyone by. This thread started at around $1000 and look where it is now.
Now it’s being adopted by governments. Soon the United States will have a strategic reserve of its own.
 
Ah. I know that bitcoin soared when Musk bought a bunch, I assumed that he was smart enough to cash in near it's peak, but I guess he missed the bus on that.
$140 Million is a log of cash to lose, they said that he originally lost 204M but gained back $64m through trading.

I'm just a spectator, it's too volatile for my tastes.
 
It seems too late & expensive to me to buy into bitcoin because it already had its huge run up from sub $100.
I hold 20,000 of Cardano ADA @ $0.30 https://coinmarketcap.com/currencies/cardano/
which was founded by one of the developers of Etherium .
I would sure like to see it have a huge run up < $100.
 
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New all time high $80k. Futures are indicating $100k soon. Supply is almost exhausted. You will own bitcoin eventually whether you like it or not. It will be in a fund you own or own it through your retirement. Why not own and hold that asset yourself and reap the benefits for yourself instead of a bank or institution?
 
$107k and smashing higher. This is the greatest investment this year and decade. It will continue to grow indefinitely against fiat currencies. This will be the best investment in the next decade as well. The worst allocation is 0. Plan accordingly.
 
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