Bitcoin ETF ever coming for you guys?

wxytrader · Nov 12, 2023

Baron said:
Oh, I'm sure they are definitely out there, but it's not because they TRULY think it's stupid. They just don't understand it, so they revert to calling it derogatory names because it's such an easy way to deflect the conversation to something else.

In my direct circle of friends, there are operators of financial advisory firms, owners of insurance companies of all types, commercial property investors, land developers, surgeons, attorneys, etc. It's a great group of intelligent people, but not a single one of them truly understands how the Bitcoin network functions.

Remember: This is the definition of Bitcoin as it applies to the average person, regardless of how wealthy or smart they are:

Bitcoin is everything you don't understand about money combined with everything you don't understand about computers.

So what I've learned is there are a lot of people who are brilliant in their respective fields, but they have very little, if any, knowledge about computers and information technology. All of the friends in my circle I just described outsource their personal and business technology needs to third parties that specialize in that. In other words, these guys couldn't troubleshoot a technology problem at home or work if their lives depended on it, and in that context, they have no problem admitting that. They gladly pay "propeller heads" and "nerds" to implement and maintain any software and hardware technology, but unfortunately, that's why they'll NEVER have the underlying competency to be able to understand or appreciate Bitcoin for what it is.

That logic also applies to the greatest minds in finance. Men like Warren Buffett and Charlie Munger know traditional finance like the back of their hands, but their knowledge of computer networking and information technology is so minimal that they'll never be able to fully grasp the technological miracle that Bitcoin represents. So when they are asked about it, they just revert to calling it derogatory names to deflect from the fact that they know little to nothing about how the Bitcoin network works and much less as to why it's the future of wealth preservation and appreciation.
More...

"'Great spirits have always encountered violent opposition from mediocre minds. "

Einstein said it best.

wxytrader · Nov 12, 2023

Pekelo said:
Because 2010 BTC at 32 bucks topping screamed "we are going to 70K".

Would you mind telling me the next big thing? I would invest a 100 or a 1000 bucks in it.

Oh yeah, you probably forgot those 7 or so times when it lost more than 70% from its top. Institutions love the roller coaster type of stocks. /s
More...

Well with 1k I would say load up with dogecoin and wait for bitcoin go parabolic again. Low risk and potential 60X payout if the same happens as last time where bitcoin was 69k and dogecoin was .76

Like the saying goes...all boats rise with the tide...the tide being bitcoin.

That's what I did last time buying 100k dogecoin at .05 and sold it at .55...boom Lotus Evora.

semperfrosty · Mar 21, 2024

Nighthawk said:
Enlighten me: where will this "flood of money" come from? Institutional players are not stupid to invest into a BIG, FAT NOTHINGBURGER called Bitcoin.

No dividend. No shareholder rights. No legal tender. NO FDIC insurance in case Bitcoin goes to "ZERO".

I talked to 200 institutional asset managers in Europe, Asia and the US in the last 9 months. NONE of them intends to invest 1 dime into BTC ETFs. Not even as an inflation hedge.

So, again: WHO will invest the "flood of money"? Joe Sixpack aka retail trader?
More...

2 Nothing Burgers to go please.Extra fat.

@johnarb @NoahA @jbusse @Baron @GlobalMacro90

Sorry @Nighthawk ,I'm a bit bored and looking over old threads.

wxytrader · Mar 21, 2024

Nighthawk said:
Enlighten me: where will this "flood of money" come from? Institutional players are not stupid to invest into a BIG, FAT NOTHINGBURGER called Bitcoin.

No dividend. No shareholder rights. No legal tender. NO FDIC insurance in case Bitcoin goes to "ZERO".

I talked to 200 institutional asset managers in Europe, Asia and the US in the last 9 months. NONE of them intends to invest 1 dime into BTC ETFs. Not even as an inflation hedge.

So, again: WHO will invest the "flood of money"? Joe Sixpack aka retail trader?
More...

I thought you might find this article interesting.
https://www.cnbc.com/2024/03/19/japan-pension-fund-explores-bitcoin-as-an-investment.html

semperfrosty · Mar 21, 2024

wxytrader said:
I thought you might find this article interesting: https://www.cnbc.com/2024/03/19/japan-pension-fund-explores-bitcoin-as-an-investment.html

More...

Just a lazy 1.4 trillion. haha

1 extra Nothing Burger for my friend WXY please.He's behind me in the Lambo.

GlobalMacro90 · Mar 22, 2024

semperfrosty said:

2 Nothing Burgers to go please.Extra fat.

@johnarb @NoahA @jbusse @Baron @GlobalMacro90

Sorry @Nighthawk ,I'm a bit bored and looking over old threads.
More...

I am confused what is nothing burger? Are you referring to the biggest ETF launch in history?

semperfrosty · Mar 22, 2024

GlobalMacro90 said:
I am confused what is nothing burger? Are you referring to the biggest ETF launch in history?
More...

See post #23.

I was making fun of an old post from nighthawk that stated there would be no inflow and it would be a 'nothing burger'.

It was a pro BTC post but I also apologised to nighthawk and let him know I was just playing.He made a call that was incorrect,however his last 5 calls may well have been winners so,yeah.

In post #25,I sarcastically downplayed the potential impact of the 1.4 trillion fund that is looking at BTC.

I need to sharpen my delivery I guess.