12th of Jan 2009 when the first Bitcoin transaction was made.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: cafter on January 14, 2024, 12:47:37 PM

4. Some people will no longer think of bitcoin as a scam.

This is one point that I am enthusiastic about. The approval of an asset as an ETF will throw away all those no-coiners and haters out of the window.

Of course some naysayers and conspiracy theorists will always be there but this can be a massive step towards the next generation of adoption of bitcoin. Who knows maybe after ETF approval India might become interested and be lenient to crypto finally?

cafter

full member

Activity: 448

Merit: 225

Quote from: Bureau on January 12, 2024, 09:13:19 AM

The concept of Bitcoin now is different as with ETF an investor would only get a paper and not Bitcoin. Do you think this is correct?

It is correct but if someone learned enough about bitcoin and and want to hold real bitcoin rather than paper or to be a part of it then they will buy real bitcoin instead of buying an ETF.

Quote from: Bureau on January 12, 2024, 09:13:19 AM

Do you think ETF was good for adoption or it is good for those early investors to cash Bitcoin?

Yes, its good for adoption, here are some reasons:
1. The bitcoin ETF will be seen by more investors who were not aware of it, means more recognition and promotion/ad of bitcoin.
2. There will be a significant rise in liquidity which will lower the impact of price movements because of large trades.
3. Institutions like hedge funds, insurance companies, pension funds, etc. will be able to invest in bitcoin because they won't be facing regulatory restrictions that usually come with directly owning cryptocurrencies.
Because ETFs give them a regulated way to getting into bitcoin, making it more accessible for traditional financial players.
4. Some people will no longer think of bitcoin as a scam.
seems like a essay but may this will help.

Quote from: Bureau on January 12, 2024, 09:13:19 AM

Do you think those early adopters and investors will drag down the Bitcoin price after ETF approval?

who knows.. Grin

? Depends on them.

Quote from: Bureau on January 12, 2024, 09:13:19 AM

In the end, was the Bitcoin transaction made by Satoshi an eventful thing to celebrate? What do you guys think?

yes, here is a suggestion for naming: Crypto Pioneers Day.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: Bureau on January 14, 2024, 03:21:24 AM

I am still clueless as to why the price of Bitcoin will straight away as the money from these funds will take time to reach the Bitcoin market.

Bitcoin has been over bought due to this ETF hype for the last couple of weeks and finally we see the results people thought that price will go further but this is the time for whales to play their hands and dumped it hard, I predicted this will be more likely the result whether ETF is approved or declined.

Also after a week now ordinals back to spam the network with high fees which can lead to further dump in the price in my opinion for a while then the price will shoot up when halving approaches.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Quote from: Bureau on January 14, 2024, 03:21:24 AM

ETF is investing in those funds for which they will get a piece of paper and not actual coins. That is my understanding and I am not a fan of ETF either, the only way Bitcoin gets benefited is that these funds will promote Bitcoin indirectly through advertisement. That will surely help in the adoption of actual Bitcoin in a way that more people in the US would now know about the power of Bitcoin. I am still clueless as to why the price of Bitcoin will straight away as the money from these funds will take time to reach the Bitcoin market.

My current opinion is still unswayed, if I see value in bitcoin's future I will buy bitcoin and not a fund that is traded on its basis. Indeed I carry the risk of owning bitcoin but since ETFs are going to be legal in case they are approved, bitcoin's "outlawing" should become clearer in future.

The common people are scared to invest in crypto because of these factors but they are willing to take the risk. Hence the price rise and the demand for ETFs.

Bureau

sr. member

Activity: 490

Merit: 279

Quote from: Bitcoin Smith on January 13, 2024, 02:36:37 PM

I am not a fan of Bitcoin ETF either, but it is a good thing for now, and it will bring more spotlight to the bitcoin and possibly some institutional investors which will help the bitcoin price to soar higher. What good thing is it convinces and normalizes the existence of bitcoin and a common man don't think it is something exclusive and not legal which make them to invest too and that leads to adoption.

ETF is investing in those funds for which they will get a piece of paper and not actual coins. That is my understanding and I am not a fan of ETF either, the only way Bitcoin gets benefited is that these funds will promote Bitcoin indirectly through advertisement. That will surely help in the adoption of actual Bitcoin in a way that more people in the US would now know about the power of Bitcoin. I am still clueless as to why the price of Bitcoin will straight away as the money from these funds will take time to reach the Bitcoin market.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

I am not a fan of Bitcoin ETF either, but it is a good thing for now, and it will bring more spotlight to the bitcoin and possibly some institutional investors which will help the bitcoin price to soar higher. What good thing is it convinces and normalizes the existence of bitcoin and a common man don't think it is something exclusive and not legal which make them to invest too and that leads to adoption.

Quote from: TheUltraElite on January 13, 2024, 06:25:07 AM

ETF seems good for price rise, but how much the institutional investors are going to interested in them, only time can tell. There is interest thats why the price is going up. However the early adopters may not even be interested in ETFs, they just want their money to increase in total.

Anyone who knows what is bitcoin will not be interested in ETF in my opinion, but institutional investors don't really care about the technical aspects they just want the profits and if ETF is the thing that convinces they will throw some money.

TheUltraElite

legendary

Activity: 2898

Merit: 1253

So anyway, I applied as a merit source :)

Most early adopters either sold off or invested their money elsewhere or moved on. It is rare to find one of them today or idolize them, rather we should focus on building out own stash of coins.

ETF seems good for price rise, but how much the institutional investors are going to interested in them, only time can tell. There is interest thats why the price is going up. However the early adopters may not even be interested in ETFs, they just want their money to increase in total.

With bitcoin, you need to patient and continue holding and not get stuck at with one new positive thing.

Bureau

sr. member

Activity: 490

Merit: 279

This is 2009 when the global economy slowed down and the internet was not a big thing then. Job loss was quite common at that time as it was due to the global recession.

At that time someone not known came up with a concept that time was very new and amazing. The concept was to have a decentralized environment for financial transactions and gain financial freedom.

What was new for everyone at that time was the concept of Bitcoin. A coin that works using the internet with node-to-node architecture and without government influence. A coin that is cheap for global transactions. A coin that can help a struggling individual regain his lost status.

Coming back to 2024 Bitcoin is getting legalized as a legal currency in a country. Next, it can now be traded and invested on the US exchange after ETF approval. The concept of Bitcoin now is different as with ETF an investor would only get a paper and not Bitcoin. Do you think this is correct?

Do you think ETF was good for adoption or it is good for those early investors to cash Bitcoin? Do you think those early adopters and investors will drag down the Bitcoin price after ETF approval?

In the end, was the Bitcoin transaction made by Satoshi an eventful thing to celebrate? What do you guys think?

Topic: 12th of Jan 2009 when the first Bitcoin transaction was made. (Read 97 times)