Bitcoin drops below $20,000 as crypto selloff quickens

[HungSowel]

Canada has Bitcoin ETFs, the total value of them is about 2 Billion. The US has 10x the population and economy so the total value of US Bitcoin ETFs should be ~20 Billion. The US has more risk appetite than Canada so I think 20 Billion is the minimum and 40 Billion is the maximum.

With that said, this is Bitcoin so logic and reason is powerless against FOMO.

 

[LiveInTorontoPartyInMontreal]

And all this time I thought BTC was a corporation formed in 2009 by Nakamoto Satoshi, fooled me. UGH ! Anyways, BTC wicked all the way down to about $ 42,800 early this morning and buyers rallied it all the way back to $ 43,800 area. . . Many are going to say that's the "dumb money" FOMO'ing in. I highly doubt it !

 

[LiveInTorontoPartyInMontreal]

Players profit taking on Bitcoin, plus having a hard time crossing $ 44,000, first time since Mar/Apr 2022. Look at ETH / SOL rally today ! My alternative picks to participate in the crypto rally ( if you believe it) and not having to buy BTC at $ 40k+ . . . Also LINK !

 

[sprite09]

I wish that I could be interested, but I'm not....

yet you are still here commenting and said this:
"Why do I keep thinking that BitCoin will just become like any other currency?"

sounds like you're still interested in the topic

fundamentals are overrated, all that matters is price action.

I've said before in the others, would you care if you were gifted the original iPhone or received Aaron's Judges 62nd home run ball even though it has no value to you? yes you would, because you could sell either for a crap load of money (55k iPhone, 1.5 million baseball).

it's all about fucking making money..period.

"oh greater fool theory ...someone always left holding the bag with crypto "....yep just like the iPhone and baseball ...someone always left the holding the bag

 

[sprite09]

d

No, I still don't care. I care about Crypto as much as I care about the penny.....

Just because I mentioned pennies does not mean I care about them....

right , and again that's why you care to check out this thread , "wonder" about it, and comment

fyi, non sensical analogy

 

[sprite09]

Ed

Still don't care. I just do this for entertainment....

keep pretending ...have fun

 

[LiveInTorontoPartyInMontreal]

Warren Buffet, Jamie Dimon ( of MS ) all testify against crypto at all the SEC meetings, and yet they admit they have a personal stash of Bitcoin. I can never understand why ? Just for fun ?

 

[LiveInTorontoPartyInMontreal]

Because they are all two-faced assholes?

No. Because all they care about is asset performance, they don't care what the underlying is. Whatever thread, whatever the topic, this is a tough TERB crowd, now I see why the MODS close/delete many of the threads before they get out of hand.

 

[Valcazar]

Is BTCC.B futures based or spot based ?

Did you ever get an answer to that?
My understanding has been the big brass ring for ETFs is to get a spot based one.
At least in the US.

This is the thing they keep hyping but somehow always seems to just be around the corner but not arriving.

 

[Valcazar]

It's very clear reading the last few pages of this thread that no one has a grasp of the underlying technicals of Bitcoin & blockchain.

This is not a company. This is a finite scarce, new asset class that is about to have trillions of dollars flooding in come etf approvals in early January - March at the latest with the havening event shortly after which reduces total daily new BTC supply in half.

I don't know why you would think the etf approvals are a given.
The issue with bitcoin is that the people with big money in it don't want it regulated in a way that stops them being able to commit crimes, but want legitimate investor money to come in.
Those will remain at odds.

 

[Valcazar]

Why do I keep thinking that BitCoin will just become like any other currency?

Because you are mistaking it for a currency, which it isn't.

 

[Valcazar]

yet you are still here commenting and said this:
"Why do I keep thinking that BitCoin will just become like any other currency?"

sounds like you're still interested in the topic

fundamentals are overrated, all that matters is price action.

I've said before in the others, would you care if you were gifted the original iPhone or received Aaron's Judges 62nd home run ball even though it has no value to you? yes you would, because you could sell either for a crap load of money (55k iPhone, 1.5 million baseball).

it's all about fucking making money..period.

"oh greater fool theory ...someone always left holding the bag with crypto "....yep just like the iPhone and baseball ...someone always left the holding the bag

See, this is a thing I respect about you, sprite09.
You've never pretended Bitcoin and crypto were about anything but getting in on the cash because other people are willing to pay for it.
It's just straight up an asset that some people are willing to pay for, so you are in it to make a buck.

That's honest and fair.

 

[Valcazar]

Warren Buffet, Jamie Dimon ( of MS ) all testify against crypto at all the SEC meetings, and yet they admit they have a personal stash of Bitcoin. I can never understand why ? Just for fun ?

Because arguing about why widespread of bitcoin and crypto as it stands would be bad for the financial system is different from "if some people want to pay for this thing, I will have some to sell to them".

 

[Meaning]

I don't know why you would think the etf approvals are a given.
The issue with bitcoin is that the people with big money in it don't want it regulated in a way that stops them being able to commit crimes, but want legitimate investor money to come in.
Those will remain at odds.

Sorry what was that?

This is like 2013 critiques of Bitcoin . Every transaction on Bitcoins blockchain is completely visible - it is a publicly accessible ledger. Crimes using crypto are best done with other tokens like Monero - NOT Bitcoin.

This shit is too easy man 🥱🥱.

 

[sprite09]

Sorry what was that?

This is like 2013 critiques of Bitcoin . Every transaction on Bitcoins blockchain is completely visible - it is a publicly accessible ledger. Crimes using crypto are best done with other tokens like Monero - NOT Bitcoin.

This shit is too easy man 🥱🥱.

that aged well

 

[Meaning]

that aged well

Lmao for real. That boy got cooked.

 

[Valcazar]

Sorry what was that?

This is like 2013 critiques of Bitcoin . Every transaction on Bitcoins blockchain is completely visible - it is a publicly accessible ledger. Crimes using crypto are best done with other tokens like Monero - NOT Bitcoin.

This shit is too easy man 🥱🥱.

Bitcoin has always been transparent.
What does that have to do with what I said?

 

[|2 /-\ | /|/]

Always the self proclaimed terb experts who think they know everything but actually don’t know anything at it again. Round of applause this has been proven time and time again. Just let time take its curse on them.

 

[sprite09]

View attachment 302256

Always the self proclaimed terb experts who think they know everything but actually don’t know anything at it again. Round of applause this has been proven time and time again. Just let time take its curse on them.

lol you're still alive

 

[sprite09]

It's like a never-ending rollercoaster ride, with twists and turns that surprise us at every corner. And hey, Warren Buffet and Jamie Dimon's stance on Bitcoin might seem a bit contradictory, but that's just the nature of the game, right? They're playing their cards close to their chests, probably hedging their bets while publicly advocating caution. It's all about diversification and staying ahead of the curve.
And hey, if you're thinking of diving deeper into the crypto world, why not consider a little boost with a 바이낸스 추천인? It could be just the ticket to navigate these choppy waters and come out on top.

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