Reply to: Bitcoin on the rise again

[vetran]

Willendure is ScooterScot
and I claim my £5 reward.

nah spooter was funny!

[willendure]

In short, you are thick.

Feeling a little frustrated because you are... missing out on the action?

[ChimpMaster]

Willendure is ScooterScot
and I claim my £5 reward.

[woody1]

I read somewhere that quite a lot of the Bitcoin ETF inflow is due to folks switching from other forms of Bitcoin (Grayscale investment trust, coins held in wallets, on exchanges etc). When the gold ETFs were launched, there probably wasn't as much of this type of investment switching going on.

Having said that, there's clearly a lot of new money piling into Bitcoin and the ETFs.

[agentzero]

This is a graph of the inflow into the new Blackrock bitcoin ETF since its inception (light blue), versus the inflow into their gold ETF when that launched (dark blue). Thats $7Bn in 5 weeks. No wonder the price has gone up.

In short, you are thick.

The crypto scam relies on people like you do repeat misinformation. You just compared a 2005 ETF inflow to a 2024 ETF, almost 20 years later.

Inflation and compound interest and other accurals mean that $1billion in 2005 isn't the same notional value of money as $1billion in 2024. You're also relying on a youtube video and a graph that doesn't even contain the information you stated it does. It just shows "first gold ETF" and doesn't mention Blackrock.

You are thick. Anybody can post any old rubbish on youtube and people like you will swallow anything without checking the source material. There's a fool born every minute.

[willendure]

This is a graph of the inflow into the new Blackrock bitcoin ETF since its inception (light blue), versus the inflow into their gold ETF when that launched (dark blue). Thats $7Bn in 5 weeks. No wonder the price has gone up.

[Zigenare]

Believe that if you want. But in each of the previous bitcoin cycles the run-up was larger after the halving event than prior. It take times to have an effect, but since the supply of coins is being cut in half, and many of the existing coins are being held longer term and not on the market, it makes sense that this shift in supply and demand will drive the price up. Each halving should have a smaller effect, but this time there is a lot of new money coming in through the ETFs which should counter that to some extent. I think the real top of this cycle is somewhere between 6 months to 18 months away.

It's reading guff like this that tells me not to touch bitcoin with somebody else's barge pole, never mind my own.

[willendure]

History tells us that its too late to buy. Everyone jumps on the news as it heads skywards, tongues start wagging and people reach for their wallets. Crash incoming.

Believe that if you want. But in each of the previous bitcoin cycles the run-up was larger after the halving event than prior. It take times to have an effect, but since the supply of coins is being cut in half, and many of the existing coins are being held longer term and not on the market, it makes sense that this shift in supply and demand will drive the price up. Each halving should have a smaller effect, but this time there is a lot of new money coming in through the ETFs which should counter that to some extent. I think the real top of this cycle is somewhere between 6 months to 18 months away.

[vetran]

I assume you only started last month?

Shandy is cheap!

[MyUserName]

I assume you only started last month?

[Snooky]

I put the amount I used to spend in the pub each week in every month.....So far I seem to have not far off doubled my money but it is still a pretty small amount - not even a month's living expenses

I assume you only started last month?

[MyUserName]

I put the amount I used to spend in the pub each week in every month. Then if I lose it I don't really care. So far I seem to have not far off doubled my money but it is still a pretty small amount - not even a month's living expenses. However, if I have put more in I could have made a decent amount.

[northernladuk]

Well, I think it's fairly obvious. Scooter will be back any day.

Just need a fear greed graph and it will be like the old days when he was here.

[WTFH]

Well, I think it's fairly obvious. Scooter will be back any day.

[northernladuk]

• After hitting a cycle low of $16k in Nov 2022, it's back up over $60k
• At $60k, it has a market cap of $1.2tn, which puts it up there with the largest stocks in the world https://companiesmarketcap.com
• Staggering to think it was just a few dollars a little over a decade ago. Not many things go up a million%
• A lot of "bullish" predictions out there of it hitting $500k, even $1m, and exceeding the market cap of Gold ($13tn)

Apart from consuming a shed load of energy...

1. Does the $tn tied up in Bitcoin do anything useful?
2. I wonder if it could ever one day pose a threat to financial stability?

History tells us that its too late to buy. Everyone jumps on the news as it heads skywards, tongues start wagging and people reach for their wallets. Crash incoming.