crrdlx (CR for short)

I'm liking how ETF dashboards…

crrdlx — Wed, 07 Feb 2024 21:14:20 GMT

I'm liking how ETF dashboards are popping up. I only know of two so far, but they're interesting to watch.
https://dune.com/hildobby/btc-etfs
https://www.coinglass.com/bitcoin-etf

#bitcoin #etf #plebchain

I'm loving this dashboard for…

crrdlx — Thu, 01 Feb 2024 21:30:03 GMT

I'm loving this dashboard for the #bitcoin #ETF products. Amazing how quickly bitcoiners spin up handy tools.

https://dune.com/hildobby/btc-etfs

#plebchain

Quick ETF thoughts:…

crrdlx — Wed, 17 Jan 2024 13:01:11 GMT

Quick ETF thoughts:

1. Initial volume looks great. Such interest seems bullish. Numbers: https://finbold.com/bitcoin-etf-records-10-billion-trading-volume-in-3-days-outshining-all-2023-funds/
2. Then why the price drop? The drop after the launch may be in part due to Grayscale GBTC selling off in order to convert to the ETF. If that comes to fruition...also bullish.
3. Give it time. TradFi moves at a different pace than crypto. Think long.

#bitcoin #ETF #plebchain

It's exhausting to read the…

crrdlx — Fri, 12 Jan 2024 23:27:17 GMT

It's exhausting to read the ignorance all the time. This time, I read Gensler's statement, “Now you can buy [Bitcoin] through this thing called an exchange-traded product that’s, well, centralized.”

Two things here, either...

(1) Gensler is flat out lying by saying buying the ETF is buying bitcoin. I think everyone here knows it is not...it's buying a receipt from someone else who owns the bitcoin and trusting they'll "pay you back" when you choose. But, due to Genslers own rule, they pay you back in fiat USD! You don't get paid in BTC so how can that be "buying Bitcoin?

(2) Or, he's clueless and doesn't know the difference.

Either way, how is it okay for the SEC head to spread such misinformation?

By the way, I realize bitcoin purists here are anti-ETF. Still, I love the ETFs and feel its uber-bullish going forward. I know an ETF is not owning bitcoin, but for what it is, it's great.

But, dang, the misinformation daily is exhausting.

#bitcoin #etf #plebchain

I love #bitcoin for a ton…

crrdlx — Tue, 09 Jan 2024 22:01:16 GMT

I love #bitcoin for a ton of reasons but the drama is absolutely amazing!
#ETF #SEC #hack

I had a TDAmeritrade account and…

crrdlx — Mon, 08 Jan 2024 17:07:43 GMT

I had a TDAmeritrade account and had a couple of dividend stocks. Each quarter i get a small dividend, then when I remember, I'd use that cash to buy more shares of the stock.

Then Schwab took over TD and I decided I was overdue to login to Schwab and check things and buy more dividend shares. I was just about to buy, then it hit me...

The #bitcoin #ETF seems to be coming soon. Instead of buying stock shares, I could buy shares of the ETF instead. If I did it each quarter, it would basically be quarterly DCAing bitcoin.

Yes, I know it's not buying bitcoin and is custodial, but the alternatives are either (a) buying stock as id been doing or (b) moving small amounts of cash out of Schwab to an exchange and buying BTC...not practical. The ETF seems a great option to me in thus case.

I saw this chart somewhere on…

crrdlx — Mon, 25 Dec 2023 14:36:10 GMT

I saw this chart somewhere on the net. Not sure if it's 100% accurate, so take it for what it is, a chart showing bitcoin ETF dates from somewhere on the net.

#bitcoin #etf #plebchain

Gradually, then suddenly, then gradually.

crrdlx — Mon, 23 Oct 2023 23:26:39 GMT

Gradually, then suddenly, then gradually.

tldr: Don't be discouraged if a price spike after a #bitcoin #ETF approval is temporary.

We've all heard the "gradually and then suddenly" line. We all know where it's from, right? I'll admit, I didn't until I just looked it up. I knew it was from Hemingway, but I thought it was in answer to how he became famous. Wrong. It's from The Sun Also Rises (my second favorite Hemingway book, behind A Farewell to Arms).
“How did you go bankrupt?” Bill asked.
“Two ways,” Mike said. “Gradually and then suddenly.”
Quote info: https://quoteinvestigator.com/2018/08/06/bankrupt/
I'm not writing a book review here. Rather, I wanted to discuss the bitcoin ETF that all signs seem to point toward imminence. I feel it's imminent...you can't hold back the tide. Recent comments by Blackrock CEO Larry Fink here: https://cryptopotato.com/blackrock-ceo-larry-fink-shares-thoughts-on-a-bitcoin-btc-bull-run/ More specifically, I want to address the feeling that an ETF (or ETFs) approval will send things mooning. We all saw the euphoria over the false X-Tweet recently...the sudden spike and the sudden fall. The easy conclusion is, "When the ETF is really approved, we'll moon!"
I'd caution on that. If and when a bitcoin ETF (or more...giving the green light to more than one at the same time seems plausible to me), is approved, it would not surprise me to see an initial price spike. But, it would also not surprise me to see a quick pull back.
In my view, people who react to an ETF's approval are people who are already "in the game," aware of and knowledgeable of bitcoin. To me, this is largely not who an ETF targets. If you're reading this, you're on Stacker News and you know that owning shares of a bitcoin ETF is not the same as owning bitcoin. What an ETF does is it opens investment opportunities to those people with traditional investment avenues, who aren't interested in self-custody, and who simply wish to tell their broker to "get some bitcoin." In my view, there's a lot, a LOT of money that falls in that category. So, gradually, then suddenly when the ETF is approved, then gradually again.
tldr: Don't be discouraged if a price spike after an ETF approval is temporary.