Bitcoins - about to hit $5,000 per coin today!

[Griffith]

BTC ETF approved. ETH will probably follow soon.

Looking very good for a parabolic run till the end of the year, early 2022.

[gib]

BTC ETF approved. ETH will probably follow soon.

Looking very good for a parabolic run till the end of the year, early 2022.

I would not be so sure about that. The SEC is still seriously considering whether ETH should be placed in the category of illegal and unregulated securities. They have already made this stance very clear (as outlined in the so-called "Howey test") with regard to most alts. Time will tell on ETH, but the history of ETH and the role of Vitalik will play a big part here. Still, ETH doesn't necessarily need an ETH to thrive, although it certainly would help.

In my view the next "big step" will be a spot BTC ETF, of the kind GreyScale is currently applying for.

[Mayday]

To keep it simple, this is the ETF information we are looking for.

Proshares ETF 18th Oct --> approved
Invesco ETF 19th Oct --> no longer pursuing the ETF approval
VanEck ETF 25th Oct --> not likely
Valkyrie ETF 25th Oct --> likely
Galaxy ETF 1st Nov --> not likely

I had the previous ATH close of 63,588 and the last daily close i have as 64,303 so it's a new ATH yet i'm seeing mixed things online between whether or not we have closed at an ATH. If it's not decisive then i gather the answer is we haven't and we are using some particular exchange as the marker.

[gib]

To keep it simple, this is the ETF information we are looking for.

Proshares ETF 18th Oct --> approved
Invesco ETF 19th Oct --> no longer pursuing the ETF approval
VanEck ETF 25th Oct --> not likely
Valkyrie ETF 25th Oct --> likely
Galaxy ETF 1st Nov --> not likely

I had the previous ATH close of 63,588 and the last daily close i have as 64,303 so it's a new ATH yet i'm seeing mixed things online between whether or not we have closed at an ATH. If it's not decisive then i gather the answer is we haven't and we are using some particular exchange as the marker.

Measured in some currencies which have declined over time (to the USD and BTC), a new ATH has already been hit. In USD, we are damn close ...

[Griffith]

https://coinmarketcap.com/headlines/news/why-grayscales-ceo-believes-the-sec-will-greenlight-an-ethereum-etf/

Why Grayscale’s CEO Believes The SEC Will Greenlight An Ethereum ETF

Grayscale CEO Michael Sonnenshein has said the SEC will now be more inclined to approve an Ethereum ETF. The United States saw the first approved Bitcoin ETF last week. It marked the end of an eight-year-long since the first bitcoin ETF was filed. ProShares saw the approval of its Bitcoin Futures ETF on Monday, October 18th, and is set to trade on the NYSE today.

This was no doubt a historic moment for the crypto market. The battle for the first approved crypto ETF has been a drawn-out one and now investors can trade on bitcoin ETFs directly from their investment accounts like a ROTH.

However, the approval of the first bitcoin ETF has led to discussions about when the market will see approval for an Ethereum ETF. Speculations are that the market would see the first ETH ETF soon and Grayscale CEO agrees.

SEC Approving An Ethereum ETF

Sonnenshein was on CNBC’s Squawk Box on Monday to talk about the approval of the first Bitcoin ETF. The CEO sees this as a step in the right direction for the crypto market after the SEC gave the green light for the ETF. He remarked that this showed that the Securities and Exchange Commission was getting more relaxed around the idea of cryptocurrencies.

Sonnenshein added that since the regulator had approved the bitcoin ETF, it is only a matter of time before an Ethereum ETF was approved by it. Ethereum is the second-largest cryptocurrency in the market and has seen interest in it match, and sometimes surpass, that of the top cryptocurrency Bitcoin.

Multiple firms have filed Ethereum ETFs alongside their Bitcoin ETFs. Although both VanEck and ProShares had been asked by the SEC to withdraw their Ethereum ETFs when it was considering the Bitcoin ETFs for approval. This does not mean that the ETH ETFs have no merit. At this point, the Bitcoin ETFs have taken precedence due to their long history of filings to the regulator.

Grayscale Sets Sights On Bitcoin Spot ETF

NewsBTC reported over the weekend that Grayscale was planning to file a Bitcoin Spot ETF application. The investment firm has decided to go in another direction to current Futures ETF by converting its Futures ETF filings to a Spot ETF filing. Grayscale did this in response to growing competition after ProShares saw its Bitcoin Futures ETF approved for trading on the NYSE.

In a bid to realize higher trading volume than the Futures ETFs, the Grayscale Spot ETF has been argued to be a more superior filing to the Futures ETF. Investors are likely to lose out on gains due to growing contango when the futures contracts expire at a higher price than the spot price.

Grayscale is still waiting on the go-ahead from the SEC before it can file the application to convert its Bitcoin Trust into a Bitcoin Spot ETF.

[loco]

 

[Griffith]

Crypto is about to go parabolic.

BTC 100k end of year and ETH 15K 

[FitnessFrenzy]

ETH $ 4,041.58

[Humble Narcissist]

Crypto is about to go parabolic.

BTC 100k end of year and ETH 15K 

Just 1 step away from anabolic.

[SOMEPARTS]

https://www.reuters.com/article/walmart-cryptocurrency/walmart-allowing-some-shoppers-to-buy-bitcoin-at-coinstar-kiosks-idUSL4N2RH4BL

Have to admit this is bullish if it pans out.

This is the same company that charges poor people 20% premium to put their metal change in these machines.

Wal Mart is the perfect place for a Bitcoin kiosk though. Slaves meet slave money.

[SOMEPARTS]

A very good read.


“My sort of theory on Satoshi’s identity was that Satoshi was on that beach in Anguilla,” the technology billionaire and self-described libertarian said Wednesday, recounting an early meeting with the founders of E-Gold Ltd., a now defunct digital currency that was indicted by the U.S. Justice Department in 2007. “I met them on the beach in Anguilla in February of 2000. We were beginning the revolution against the central banks on the beach in Anguilla. We were going to make PayPal interoperable with E-Gold and blow up all the central banks.”

Things didn’t go well, Thiel said, recounting allegations of fraud, libel and a legal settlement with E-Gold. He said he thought that Satoshi may have been one of around 200 people at that initial meeting and probably learned from E-Gold’s failures."


https://www.bloomberg.com/news/articles/2021-10-21/peter-thiel-tells-miami-crowd-where-he-d-look-for-satoshi?sref=ZMFHsM5Z

[Mayday]

https://www.reuters.com/article/walmart-cryptocurrency/walmart-allowing-some-shoppers-to-buy-bitcoin-at-coinstar-kiosks-idUSL4N2RH4BL

Have to admit this is bullish if it pans out.

This is the same company that charges poor people 20% premium to put their metal change in these machines.

Wal Mart is the perfect place for a Bitcoin kiosk though. Slaves meet slave money.

Not gunna happen anytime soon because it’s a taxation minefield.

Wallets don’t work out your tax nor can they. Stores can’t work out your tax, nor can they.

This is what regulation is for otherwise people would be buying things with gold, shares, food contracts etc.

Tesla accepted Bitcoin and sold something like 3 cars. Everybody yelled ‘bullish’ and a mere 3 cars were sold lol. Why? Because of taxation.

Bitcoin will do it’s thing because seasonality says it will. Bullish News and FUD exist as shields for the market makers who determine where they want price to go.


I’m surprised nobody has commented about the flash crash to sub 10k on Binance. Big players can’t take it out in a second if they want to. We are on someone else’s boat merely as a passenger.

[gib]

I’m surprised nobody has commented about the flash crash to sub 10k on Binance. Big players can’t take it out in a second if they want to. We are on someone else’s boat merely as a passenger.

Someone fxxxed up big time, They had intended to input a standing sell order for $82,000, which would remain open until hit.

Instead, they left of a zero, inputting $8,200, which was of course immediately snapped up, leading to what appeared a blip for a few seconds down to what seemed to be the 10K level. Someone got a nice buy, and someone is either crying or fired! lol

[Slapper]

Someone fxxxed up big time, They had intended to input a standing sell order for $82,000, which would remain open until hit.

Instead, they left of a zero, inputting $8,200, which was of course immediately snapped up, leading to what appeared a blip for a few seconds down to what seemed to be the 10K level. Someone got a nice buy, and someone is either crying or fired! lol

At least the CME futures gap is now effectively filled.

From a TA perspective, I don't think there're any gaps left to fill below 60k.

[Slapper]

I don't know why people get excited when they hear Greyscale and crypto. The only thing they've done is milk people left and right with their 2% management fee, and the only reason why they did not apply for an ETF (even though Seibert and Sonnensheim have been saying for 3 years that they were going to apply) is because they are making a mountain of money. They do not care their products are selling at a discount during a bull market. I mean GBTC was selling at a -22% discount like 2 weeks ago, and ETHE was selling at almost a -10% discount like 5 days ago. Not only that, they allowed the disparity to be arbitraged left and right, which is the reason the discount kept getting larger and larger: People buying BTC and shorting GBTC.

Want to talk about a SCAM? Grayscale is the best of them.

Until they become BUYERS of crypto again, crypto will not increase in value.

[gib]

I don't know why people get excited when they hear Greyscale and crypto. The only thing they've done is milk people left and right with their 2% management fee, and the only reason why they did not apply for an ETF (even though Seibert and Sonnensheim have been saying for 3 years that they were going to apply) is because they are making a mountain of money. They do not care their products are selling at a discount during a bull market. I mean GBTC was selling at a -22% discount like 2 weeks ago, and ETHE was selling at almost a -10% discount like 5 days ago. Not only that, they allowed the disparity to be arbitraged left and right, which is the reason the discount kept getting larger and larger: People buying BTC and shorting GBTC.

Want to talk about a SCAM? Grayscale is the best of them.

Until they become BUYERS of crypto again, crypto will not increase in value.

They get excited, because its just one more small step towards greater adoption and legitimatization, at the very least creating awareness to a whole new class of investor.

You are right though - the futures ETF is not an ideal structure for any long term BTC HODLer (which is of course what we all should be).

[Slapper]

They get excited, because its just one more small step towards greater adoption and legitimatization, at the very least creating awareness to a whole new class of investor.

You are right though - the futures ETF is not an ideal structure for any long term BTC HODLer (which is of course what we all should be).

Willy Woo said it best: "If Grayscale’s BTC ETF was approved and it charged 0.25% fees in line with many Gold ETFs, it would have to hold 28% of the BTC circulating supply in order to make the same fees revenue as GBTC does today."Do you think for a second they like the idea of turning their products into ETFs? No! They're going to delay it as much as they can. Everybody knows what they're doing now...

Grayscale are essentially behaving like Blockbuster back when NetFlix came into the scene: completely ambivalent, ignoring the obvious warning signs and acting like they own The Shit. GBTC is on route to selling at a -40% discount during a bull market. ETHE will quickly follow suit. It's almost like Seibert and Sonnensheim want the products to collapse.

I really do not know how they think this is going to help bring in another class of investors into the ecosystem. I mean, if you think for a second someone holding 1mm in cash is going to jump into some obscure OTC or ETF product that sells at a discount, I got a statue and a bridge to sell you. And a futures-based ETF, which is what the two tweety-baids are planning, will not get rid of the discount.

[Mayday]

Willy Woo said it best: "If Grayscale’s BTC ETF was approved and it charged 0.25% fees in line with many Gold ETFs, it would have to hold 28% of the BTC circulating supply in order to make the same fees revenue as GBTC does today."Do you think for a second they like the idea or turning their products into ETFs? No! They're going to delay it as much as they can. Everybody knows what they're doing now...

Greyscale are essentially behaving like Blockbuster back when NetFlix came into the scene: completely ambivalent, ignoring the obvious warning signs and acting like they own The Shit. GBTC is on route to selling at a -40% discount during a bull market. ETHE will quickly follow suit. It's almost like Seibert and Sonnensheim want the products to collapse.

I really do not know how they think this is going to help bring in another class of investors into the ecosystem. I mean, if you think for a second someone holding 1mm in cash is going to jump into some obscure OTC or ETF product that sells at a discount, I got a statue and a bridge to sell you. And a futures-based ETF, which is what the two tweety-baids are planning, will not get rid of the discount.

Big players trade the volatility. They prefer it to go up and down time and time again. ETF and exchanges prefer volatility and volume because they want to make more in fees. The only people who want to see the price go up are retail HoDLers but they make up the smallest portion.

We need to hear an institutional buy announcement in November otherwise it might get nuked. I wouldn't put it past BTC to get to 88k or something and then die.

[gib]

I was messaged today by someone asking how many GetBiggers actually bought when the 5K thread was started.

I have no idea, but would it not have been awesome if we all simply committed to a 5K purchase of Sats at the time? Not only would we then all be whole-coiners, but this entire forum would have been highly financially productive for us all.

Instead we had Mr Anabolic with all his nonsense doing his best to advise people to do the exact opposite. "Stay away from equities, stay away from Bitcoin, but gold and silver" (all of which turned out to be terrible advice).

Anyhow, we still all can enjoy the ride. There is a loooong road of adoption still ahead. We should never forget the words of Mr Anabolic (even if said in sarcasm)... "First $100,000, then $1,000,000".

This words from that stubborn old goat may in hindsight turned out to have been good advice! ") (Oh the irony!) 

[Flexacon]

I was messaged today by someone asking how many GetBiggers actually bought when the 5K thread was started.

I have no idea, but would it not have been awesome if we all simply committed to a 5K purchase of Sats at the time? Not only would we then all be whole-coiners, but this entire forum would have been highly financially productive for us all.

Instead we had Mr Anabolic with all his nonsense doing his best to advise people to do the exact opposite. "Stay away from equities, stay away from Bitcoin, but gold and silver" (all of which turned out to be terrible advice).

Anyhow, we still all can enjoy the ride. There is a loooong road of adoption still ahead. We should never forget the words of Mr Anabolic (even if said in sarcasm)... "First $100,000, then $1,000,000".

This words from that stubborn old goat may in hindsight turned out to have been good advice! ") (Oh the irony!) 

I'm pretty sure the original title was actually "Bitcoins - about to hit $250 per coin today!"

The title got updated to 5k at the end of 2017. Maybe it needs updating again or even going back to the original title.

Also there was very little interest in this thread originally. It took like 5 months for this thread to even get to 2 pages and 2 years to get to 3 pages.

[gib]

I'm pretty sure the original title was actually "Bitcoins - about to hit $250 per coin today!"

The title got updated to 5k at the end of 2017. Maybe it needs updating again or even going back to the original title.

Also there was very little interest in this thread originally. It took like 5 months for this thread to even get to 2 pages and 2 years to get to 3 pages.

Part of the function of the thread was also to capture all the FUD that was thrown out there, each of which was dismissed over time.

Mr Anabolic played the perfect part in this, and we now have a great cache of recorded data that will in time be used in case studies of the mental anguish older or more closed-minded people face as they encounter a threat to a core belief system during a fundamental societal change enabled by technology.

So we have done some real good here, GetBiggers! And we will all be immortalized and featured in such future studies (even if only by avatar name!).

[Flexacon]

Part of the function of the thread was also to capture all the FUD that was thrown out there, each of which was dismissed over time.

Mr Anabolic played the perfect part in this, and we now have a great cache of recorded data that will in time be used in case studies of the mental anguish older or more closed-minded people face as they encounter a threat to a core belief system during a fundamental societal change enabled by technology.

So we have done some real good here, GetBiggers! And we will all be immortalized and featured in such future studies (even if only by avatar name!).

The passage of time may yet still prove Anabolic was right.

The longer this goes on unabated, the more I believe government created it.  They want a cashless society.  That's not a good thing.  Right now you have to convert it back to dollars in order to spend it. EVERY transaction you make is traceable and taxable.  The IRS is on top of it and will come after you for taxes owed... this happened to a friend of mine that bought a whole bunch when it was $100.  In May 2017 he cashed out at around $2000.  Just recently he received a tax bill from the IRS for $25,000 - ouch.

TPTB have to keep their fiat scam system going and cryptos are the future of it.  I'm stay far away from these things, I don't care how high they go. 

You want to invest in a seriously undervalued asset with enormous upside potential?... silver is it.  Keep in mind it is a l-o-n-g term investment and it could take years to reach true/full value.  Right now the price of metals are being manipulated and held down by TPTB.  However, they cannot do it forever.

[Mayday]

It seems US HoDLers might be in for a shot in the near future.

US looking into taxation on unrealised capital gains in liquid assets……

Wouldn’t it suck paying taxes and then it dumps.

[GymnJuice]

It seems US HoDLers might be in for a shot in the near future.

US looking into taxation on unrealised capital gains in liquid assets……

Wouldn’t it suck paying taxes and then it dumps.

Horrible idea by the Democrats.  Will kill markets. 

[gib]

The passage of time may yet still prove Anabolic was right.

Satoshi was not "the Government" or "the CIA" or any other conspiracy. Rather he was an individual libertarian an freedom pioneer.

Of course Governments was cashless (and trackable) money. That is a certainty. Bitcoin is our defence to that.