Reply With Quote:-)Originally Posted by petethegeek
:-)
Without me realising at the time, it appears that my slightly facetious reply above has a foundation in reality.
Bitcoin is going to the Moon.In January 2024, BitMEX and Astrobotic are planning to send a unique physical Bitcoin to the Moon. The private key, safeguarding access to this Bitcoin, will remain on the lunar surface, awaiting retrieval by future explorers.
Public Address: 1MoonBTCixFH3XTrWRCbMpK23o74nQrA1Q
The Payload.The coin will be a registered payload on the Peregrine-1 manifest, and will remain in situ on the Moon’s surface until any enterprising soul goes to collect it. It will have a public vanity address allowing anyone interested to witness its redemption or add some Sats if you’re feeling generous.
We're Getting Physical.A one-of-a-kind physical coin marks this momentous event. One side dedicated to the triumphs of aerospace, the other to crypto. Capturing this historic moment in time, the coin shows the current Bitcoin hashrate, the year, and a quote from Satoshi Nakamoto. Only one coin will be sent to the Moon, but a limited edition series of Bitcoin-loaded commemorative coins will be made available on Earth before the launch.
See here for more details on what may, or may not, turn out to be the first bitcoin on the moon.
https://www.moonb.tc/
SEC approves several Bitcoin spot ETFs and they all begin trading tomorrow
I’d link the SEC website but it’s crashed lol
Are the ETFs going to be backed by BTC holdings or are they going to be synthetic?
The filings all had custodians listed so I’m assuming they must have to be physically held, like a gold / silver ETF. I thought that was the point of a spot ETF, and the difference from a futures market. If Raffe checks in, he’ll know the answer for sure
I believe ETFs of these types can be physically backed or synthetic though use of derivatives. There is far more gold ETFs held than there is physical gold. I’d never hold synthetic ETF.
I’m guessing not all of these BTC ETFs will actually hold Bitcoin.
They're all physically backed by real Bitcoin. Proper spot ETFs.
Most of them are using Coinbase as the custodian and Jane Street to do the "cash creates" work and send the money to coinbase for the purchase and sale of spot BTC.
Let the games begin.
Blackrock's ETF already 25% up in the pre-market.
https://finance.yahoo.com/quote/IBIT...vs3jn5hnFmUWy4
Prediction is for around $4bn of cash inflows to all the ETFs today. I'm thinking it'll be more.
Eh? How can the ETF be 25% up? Doesn’t it track Bitcoin which isn’t 25% up …?
Edit the link you shared above has this description.
Fund Summary
The fund will enter into short positions of Amplify ETF, including swap agreements and/or short sales, with major global financial institutions for a specified period ranging from a day to more than one year whereby the fund and the global financial institution will agree to exchange the return (or differentials in rates of return) earned or realized on the Amplify ETF. It is non-diversified.
Does not read like a physical ETF to me …
Last edited by Montello; 11th January 2024 at 13:14.
There will be some arbitrage during the day, until the spot BTC gets bought at the end of ( or maybe a few times) each day.
The market doesn't open for real until 2.30pm, so this is just pre-market volume moving things.
I agree though, it seems a lot, and obviously isn't going to mean a 25% jump in BTC later today, is it?
Maybe it's a pre-market glitch on a new fund that's not fully started trading yet....
The Yahoo site is linking to an old ticker IBIT which was a Defiance Short futures ETF. I'm sure it'll all switch over to the new one soon.
I actually though Blackrock's ticker was going to be iBTC....not sure why it's iBIT now?
https://www.sec.gov/Archives/edgar/d...aryprospec.htm
All these new ETFs are 100% pure spot, Rick.
If I can’t work out what is going on I’m certainly not investing … looks like a lot of complicated stuff going on. Money to be made mainly by those offering the products.
You can't invest anyway, from the UK.
I'm not sure what's hard to understand here? (Ignoring the old Defiance ETF text that's not been updated yet) It's similar to the SPDR Gold spot ETF.
https://finance.yahoo.com/quote/GLD/
You buy shares, they go and buy the corresponding amoint of real gold and look after it for you.
Ok, so why would that swing 25% when the underlying asset doesn’t?
Plus I was reading the description in the link you sent, I would think they are required to make that text accurate.
Either way I’m a spectator.
Ignore the 25% thing. It’s a move made on the last day’s trading of the old fund that used that ticker back in April. Nothing to do with the new ETF.
The new BTC spot fund starts trading at 2.30pm.
The fees are tiny, and even free in the beginning for a lot of these new ETFs
This ticker also made me chuckle..
Valkyrie's Bitcoin Fund (BRRR)
Last edited by demonloop; 11th January 2024 at 18:13.
If BitCoin is worth so much, how much is WholeCoin worth?
RIAC
Please refer to it by its correct name of 'Magic Internet Money'.
PMSL
When you look long into an abyss, the abyss looks long into you.........
Can anybody walk me through how to get money out of my binance acct? (Forgot to do this after Raffe advised me to ages ago…).
Recently traded BTC for USD (not usdt) after misinterpreting a YouTube video. Then looked at another video on how to use the Binance p2p function to transfer usdt to gbp and then transfer it to Binance supported bank accounts (none of which I have).
Now I’m confused.
Do I trade the usd to usdt, then get a Monza account (they don’t support Revolut - which I do have), and then use Binance P2P to trade USDT to GBP and withdraw to Monza?
Thank God I have most of my crypto in the Revolut app.
Personally at the moment I convert my crypto on Binance to USDT then ping it over to my Swissborg account. Then convert the USDT to GBP and send to my bank account. I'm sure there is an easier way though lol.
Well I was wondering whether it might be safer to open another (unbanned) crypto account and transfer to that, then withdraw. Is swissborg easy enough to set up?
Easiest way I've found for now is transfer from Binance to Coinbase, trade it for GBP then cash out
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Coinbase or Kraken are both reliable for cashing out Crypto to UK bank accounts
Yep it's that easy
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What he said
Brilliant, thanks chaps. I forgot I already have a Coinbase account so should be plain sailing.
Or how about:
For context, some of the other ETFs that have been approved by the SEC include the “God Bless America” ETF (ticker: “YALL”), an anti-woke “investment for God-fearing, flag-saving conservatives”
Taken from Jemima Kelly's - as always eminently readable - piece on the Bitcoin ETFs in the FT.
https://www.ft.com/content/c4fd2c69-...3-d687aa801e87
(alternatively https://archive.is/lLcE4 )
Far, far better investments available than BitCoin.....
https://10bestcasinos.co.uk/en-en_d_gg.html
This thread is like going to a Crypto forum and asking for advice on a Patek purchase
Indeed, just as Sheldon Adelson was to realise.
Just ordered some items from an overseas company, options for payment were Western Union or Bitcoin
Couldn't be bothered faffing with WU
BTC was a $2.24 fee and cleared in 10 minutes
Easy peasy lemon squeezy
Were these “items” 3 kilos of cocaine, two AK47s and new housemaid?
lol
My missus was at a Fintech conference years ago and all participants were given a usb stick with a single bitcoin on it.
Does she know where that is is now? Does she heck! What are they worth now, £40k? How annoying!
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Ouch - that is painful…… Probably overwritten with some word docs…..
We have moved house since then and she's changed jobs and office locations at least a couple of times so it's long gone....
Still could be worse!
https://www.theguardian.com/technolo...-from-landfill
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As observed by the man himself.
“Lost coins only make everyone else’s coins worth slightly more. Think of it as a donation to everyone.”
Satoshi Nakamoto
Email from Binance today, anyone help me out with the answers to these questions, I don’t currently use trading bots, but may in the future, so need these questions answered please, TIA
Pass Quiz to Use Trading Bots
1. An important feature of Binance's trading bots with respect to risk management is:
Automated risk management protocols
User-defined risk parameters
Providing risk insurance for all trades
The ability to track competitor bots
2. Binance's trading bots can be used for high-frequency trading (HFT) because:
They execute trades faster than manual interventions
They use a market-following approach
They halt during high-frequency trades
They are indifferent to the frequency of trades
3. Can Binance's trading bots execute trades based on market news?
Yes, they are equipped with AI that can understand and respond to market news
Yes, but only if the user sets specific rules related to news events
No, they can only execute trades based on price movements and technical analysis
Yes, trading bots can capture any news event and execute trades accordingly
4. Binance's trading bots' 24/7 operating capability implies:
Transactions are executed round the clock, even when the user is not active
Bots generate hourly trading reports
Bots work best during night hours
Bots require a power source backup
5. Do Binance's trading bots guarantee profits?
Yes, they are designed to make profitable trades
Yes, but only if used correctly
No, profitability is dependent on market conditions and trading bots can't guarantee profits
No, they don't play any role in profitability
6. Which of the below is a consequence of using Binance's trading bots?
The bots can predict the future of cryptocurrency market.
The bots can provide 100% successful trades.
The bots can automatically execute trades.
The bots can hack systems to get more coins.
7. The primary function of Binance's trading bots is:
Data analysis
Cybersecurity enhancement
Trading process automation
Customer support
8. How often can I adjust my trading parameters?
Never - once parameters are set I can never adjust them.
As often as I like but they have to be set before a trade is executed.
Once a month
I can make infinite adjustments to my trading parameters
Reddit is normally good for these sort of quizzes
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I’ve posted on Reddit and done loads of googling but still no answer
My bad! Have you tried logging in with a different account and giving some random answers to your own question? I'm sure redditors will quickly jump in to tell you you're wrong and give you the answers
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I only have one account, I’m not making another, either someone will answer or they won’t, could be of help for others as I doubt I’m the only one.
To the moon! 51k because bitcoins are running out etc etc
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My wife, who had hitherto yawned at the mere mention of Bitcoin, is suddenly asking me what my hodling is worth on a daily basis
A sign that the masses are beginning to wake up, a few mentions on day time news / Loose Women and FOMO is sure to begin...
could also be shes planning a divorce and wants to know your full worth :P
Still going then.
Always worth bearing in mind!
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