/biz/ - Business & Finance

>>29055869
>Buying a bitcoin ETF instead of actual bitcoin

>>29055869
>tfw i actually bought some because my bank cucked me from sending money to exchanges
feels bad being a leafcuck

>>29056866
this

>>29056866
> not knowing the clusterfuck of regulations institutions and businesses have to go through to buy an actual bitcoin instead of an ETF

priced in

>>29055869
Literally no reason to exist, unless the ETF has derivatives then maybe those would have a purpose if they were real options available on most brokers.

>>29055869
SELL

>>29055869
it's gonnnaaaa doooooomppp

I like how the winklevoss bros are going all in on crypto in 10 years i think they'll be more powerful than cuckerberg. Could you imagine the Bogs teaming up with the winklevoss's the hype would be insane

>>29057045
There's gonna be parabolic growth before it crashes. We're "barely" 2.5X from the previous ATH.

>>29057332
>barely 2.5x
THE PREVIOUS HIGH WAS ALREADY TOO HIGH FOR THIS SHIT, PONZI IS OVER SELL SELL

>>29055869
bearish

>>29055869
>buying an ETF instead of unconfiscatable BTC that can be stored in 32 bytes

>>29056866
>not holding btc in your roth

>>29056996
>>29057980
you know this means you can invest into BTC in a tax free account right? In Canada if you were eligble since 2009 you have a max contribution room of $75,000. If you put than into bitcoin you could cash out in 10 years with 0% taxes. It could be worth $1,000,000 by then

>>29058174
or can cash out next year if you want, that's the good thing about TFSA there's no restrictions for cashing out. I don't kniw if you burgers

>>29058392
*if you burgers have the same type of account or if you only have retirement accounts

>>29058495
That's my sister, you faggot

>>29056866
>Buy an asset with BTC exposure that is as volatile as BTC itself but without the slow transaction times and having to trade on crypto exchanges that can't handle more than 10 simultaneous users at a time without crashing during extremely volatile and/or lucrative moments
Anon...

>>29058174
>>29058751
can't buy on vanguard or fidelity yet. this is the only reason i haven't been balls deep in gbtc. looking to see what happens with their premium. likely going to zero.

>>29058751
>>29058023
>>29056982
>going through the same financial institutions crypto is supposed to replace
NGMI

>>29056866
If I buy through the ETF I either don't get taxed at all or I defer taxes now and get taxed at a controlled rate in the future. If the premium is less than 55% I likely come out ahead.

>>29055869
>They won't believe the numbers we will see.
True.

>>29056866
Maybe for the tech illiterate who don't want to worry about private keys and sending to the right address but want some skin in the game.

>>29056866
>What is transaction fees
>What is loss / thievery risk
Believe me, this will catch on.

Anyways, I can already see it in 5 years from now.
>Guys, the number of BTC on paper sold is now over 1 billion, but the actual number of BTC is 21 million.
You're gonna be just like the goldbugs. Not even kidding, this is next.

>>29058945
just admit you're financially illiterate

>>29056935
Get revolut - its free
Top it up - it's instant and free or alternatively
Send money to it and get it the next day - its free
Use the card of Revolut to buy crypto - it's free

If Revolut doesn't work in your country try N26 I guess.

>>29059240
This. "Digital gold" is a bug, not a feature. In 5 years we are going to have campaigns online for people to take "physical delivery" of their bitcoin instead of holding it in ETFs.

>>29059424
>I buy a piece of paper instead of the real thing because it's tax deductible

>>29059482
thanks fren
i'm checking revolut out rn but it looks like canada isn't there yet
i'll see if n26 works

>>29059747
>not doing both
you don't know what you're talking about

Mmmm.. ma bitcoin stock doin a lil sum

>>29059834
That's weird. I mean, stuff like Afghanistan is on it...

>>29059601
Physical delivery just wont happen. Even the silver deliveries RN are being blamed on "lack of trucks". So, you can't get delivered, but guess what, the price of silver is falling.

>>29060319
You may be right, but in that scenario eventually physical bitcoin would just trade at a premium to ETF bitcoin, much like how silver premiums have risen sharply even though "the price of silver is falling."

>>29055869
old news man.

>>29056866
some rich boomers have to. jew regulation and insurance tricks.

>>29059747
You're a fucking brainlet if you don't recognize what this implies for institutions trying to gain BTC exposure. Please take your $500 AUM and go shitpost back on Reddit

>>29058174
yeah but you don't own bitcoin if you invest in an etf

>>29055869
Where do I trade bros?

There's no such thing as a tax free account. Pay up now as regular income or pay up later as regular income. I prefer long term capital gains thsnk you very much.

>>29059882
this, max out your tax free account and also buy cryptos

>>29056866
Buying an ETF is less raciss

Nice, time for Litecoin to pump

>>29056866
The biggest problem with crypto right now is that it's hard to buy. Normies cannot figure out getting a coinbase or gemini started, transferring funds, holding their crypto, they're super stupid and require coddling. If normies live in a state where robinhood doesn't sell crypto they're basically locked out.
Well, now they're not.
Also, this now means that we can buy options on bitcoin outside of shitty exchanges. Which is both based and risk hedgepilled.

>>29061485
Won't options allow Bitcoin to be manipulated like gold and silver?

>>29061700
The difference would be that the underlying Bitcoin is accessible to literally everyone with a computer and internet connection.

>>29061114
yes, the same institutions bitcoin is supposed to destroy. Genius.

>>29055869
>physically settled Bitcoin
what did they mean by this

>>29056935
Shakepay

>>29061356
There IS such thing as a tax free account. With a Roth IRA you can shuffle money around without worrying about short term capital gains tax, meaning I could buy bitcoin now, sell in a few months at 100k, and double my money, tax free. Outside of a retirement account I would end up being taxed as regular income which would likely be upwards of 30%.

>>29056866
Supply limit. It will be impossible to obtain BTC in a decade.

>>29055869
This is like the credit card companies offering crypto payment. We don't need those middlemen anymore.

>>29062763
we do for initial widespread adoption.

Once people use it through cards they'll take the time to learn how to handle their own transactions and cut out the fee that card companies make.

>>29063254
>Once people use it through cards they'll take the time to learn how to handle their own transactions and cut out the fee that card companies make

>>29056996
Literally retarded take. Institutions don't have the brains or money to self custody. It's natural for them to rely on an ETFs for regulatory ease

>>29055869
Can we buy this on RH or coin base?

>>29055869
and soon we will see more bitcoin ETFs than there are bitcoins in circulation.

>>29063489
Yeah as opposed to the low fees that ethereum network takes!

>>29055869
where the hell can we buy it

>>29063254
banks and multinationals are in. widespread adoption was always a meme. congrats, now your peoples' currency is controlled by wallstreet.

>>29064288
Wasn't my point at all, my point was that normalfags are retarded. If Mastercard charges them a fee to pay with bitcoin and they don't like it, they just won't use bitcoin at all.

>>29064575
it seems nowhere right now. tomorrow at the earliest. more likely tuesday or wednesday next week. unless you're a big dick account and can call them up right now.

>>29064831
yeah but where

>>29060319
The listed spot price of silver is falling. Go try to buy some silver and tell me how much it costs.

>>29065096
wait what? cheap silver again? lol i remember buying mine back in march 2020 for about $20 per oz

>>29055869
again?

>>29060951
And you will have to pay 200k to get BTC, but you will be able to sell it for the "market price".

>>29065191
Yeah, there's 3 bn paper ounces of silver dumped on the market in the past 2 weeks. It's gonna fall more and by midyear when JPM's short are over , it's gonna be min

>>29059482
>>Get revolut - its free
>Top it up - it's instant and free or alternatively
>Send money to it and get it the next day - its free
>Use the card of Revolut to buy crypto - it's free

you can't withdraw crypto from revolut.

>>29065755
Who is buying SLV?

>>29059482
>>29059834

I've actually used Revolut for business and it's scammy as fuck. They shut down your accounts with funds in it, I lost like £800 for no reason. Some guys report losing upwards of £30k with them, no wonder they can't get a UK banking license

Use it by all means but never keep any more than $500 - 1000 on it at any one time

>>29059482
Revolut is garbage and the fees are too high

>>29065755
jpm maintains a short because they custody for slv

>>29061415
uniswap sir

>>29062154
Means they have actual custody of coins ie taken out of or put back into circulation on the blockchain instead.

>>29056866
Boomers were groomed to be the perfect slaves since birth, so they like it that way. That's just how it is.

>>29055869
I have $120k in crypto. I invested about $60k two months ago. I also have $400k cash that I made from stocks. Should I invest more into crypto now? Do we still have a long way up to go?

>>29059747
stop comparing best retail practice to best corporate practice; you're making yourself look stupid.

>>29061853
Brainlet. Go spend your $500 on some shrooms instead

>>29057332
>I like how the winklevoss bros are going all in on crypto in 10 years i think they'll be more powerful than cuckerberg

Yeah i'll think they'll flip zuckerberg at some point, having some kind of advanced crypto bank and knowing everything about the market.
I'm looking forward to film from their perspective where mark stole all the source code.

>>29061853
>hold btc in cold wallet for actual use
>hold btc etf in roth for tax free fiat gains
why is this so hard. i just wish a proper fund got out before michael saylor started running around like a headless faggot