Unfortunately this is what the masses wanted. Everyone was so excited about blackrock and the others but little did they know blackrock doesn't play fair.
Why is the BTC price falling (from sell-offs) when the ETFs see significant outflow? Surely Blackrock et al would just hodl until they sell the "proxy" as an ETF, especially in a bull market.
There was nothing good about blackrock buying BTC. It just makes it more centralized because one entity now owns a crap load of the coin. Goodluck Bitcoiners, Kaspa is the way!
You seem surprised by Blackrock's action with Bitcoin, don't you know that ever since gold ETFs have been for sale, people are holding or have invested in gold that doesn't exist? Yes, almost 30% of gold ETFs aren't backed by gold. Same this is going to happen with Bitcoin.
As long as you hold real btc in a hard wallet it shouldn't matter. But of course it does because it waters down the restriction of supply. Instead of people buying btc they'll buy an etf which includes btc. Not what Satoshi intended. If still alive, he'd be furious. Coinbase is too cosy with trad finance.
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Is this why there seems to be a lot of buying but no price change in BTC?
Unfortunately this is what the masses wanted. Everyone was so excited about blackrock and the others but little did they know blackrock doesn't play fair.
So they can short the market and make tuns of profits 📈
Just like paper gold.
Thanks for the info
That's absolutely scummy
Looks like Bitwise is the only bitcoin ETF that publishes their wallet address. Hopefully the others will follow suit
FBTC also self holds.
So basically BlackRock hands out an IOU to anyone who purchases their BTC ETF. 👍😂👍
Paper Bitcoin has ARRIVED! 💯
Consensus. They're lying....
it will bankrupt them.
Blackrock is the worst thing to happen to crypto
Which means Coinbase can have hedge funds SHORT BTC to make the price fall into quicksand...GET YOUR BTC OFF OF EXCHANGES!!!!!!!
That's a bit confusing actually. Set 30 days to get it backed 1:1. And then the really confusing part is that they can settle in cash?
What are the practical consequences of this? Does this allow price manipulation?
Anyone on coinbase should move to another exchange.
coinbase did not share the liquidition data with world why??
Corporates will find a way to play the way they want to play-
Why is the BTC price falling (from sell-offs) when the ETFs see significant outflow? Surely Blackrock et al would just hodl until they sell the "proxy" as an ETF, especially in a bull market.
Leveraged traders are getting liquidated.
Black Rock: founded by Israel.
Cash ? Thats funny.
Does Bob Baffert work for Blackrock?
Manipulation manipulation
How do you buy BTC offline?
OTC
via Coinbase or other BTC custodian.
Cool! Another scam for coffeezilla!! Can't wait to see where this goes!
There was nothing good about blackrock buying BTC. It just makes it more centralized because one entity now owns a crap load of the coin. Goodluck Bitcoiners, Kaspa is the way!
You seem surprised by Blackrock's action with Bitcoin, don't you know that ever since gold ETFs have been for sale, people are holding or have invested in gold that doesn't exist? Yes, almost 30% of gold ETFs aren't backed by gold. Same this is going to happen with Bitcoin.
As long as you hold real btc in a hard wallet it shouldn't matter. But of course it does because it waters down the restriction of supply. Instead of people buying btc they'll buy an etf which includes btc. Not what Satoshi intended. If still alive, he'd be furious. Coinbase is too cosy with trad finance.
Can you explain in detail how this is paper BTC?
It isn’t. She doesn’t understand it properly.
The settlement is T+1, the change came into effect on May 28th. She is wrong.
They can buy and sell BTC without actually buying and selling real BTC.