Huge win for Crypto

10 January 2024 marked a historic day for crypto as the SEC approved BitCoin spot ETFs for a variety of funds. R ead more here.

15 years prior, to the day, the first BitCoin node went live. 

For the non-financial people here, the BTC spot ETF means that the general public can now get exposure to the most successful asset class of the last 20 years through traditional brokerage accounts. This is a massive deal. It means that you don't need to understand the nuances of self-storage, exchanges, and all the other semi-technical terms that were a must if you wanted exposure previously. And it also means that institutional money is going to come flooding into BitCoin.

Looking back over the last few years, Crypto has completely outmatched the SEC. Gary and his goons have been in a perpetual war with Blockchain and they have yet to prosecute any chain successfully. 

To my mind, yesterday's decision was a gut punch to traditional banking. 

Blockchain is here to stay and we're roughly 600 days away from the peak of the next bull run...and it's gonna be a face melter. 

PS I'm anticipating Beeno coming onto this thread to tell me that CBDCs and BTC are the same thing. 

PSS To Beeno, they are not the same thing and I have gone to great lengths to explain this to you in the past, so before you make your inevitable post, please go an re-read my explanation

Bump

Plum I see Grayscale is filing for a covered  call ETF. Selling calls on bitcoin could generate regular income for Bitcoin ETF investors. They probably see this as a point of differentiation from gold…making the crypto more like a stock or bond.

And with the high volatility the calls could be pricy, generating a good income flow.

But it seems like a mismatched investment…if you want income, you are looking for security, that’s not bitcoin.

So you could sell a series of covered calls offsetting a price downturn. But you’d have to be smart enough to stop, otherwise your position will be called away at a trough the moment the price spikes.

And if your bitcoin goes up from the off it gets called away given how sharp the price moves are. Still this is the better outcome and you can always reload….the risk here is actually getting the income stream and registering a capital loss.

To me crypto already has the volatility of an option. Writing an option against it seems as if it dilutes the proposition…. an upward trend with lots of volatility.

But where you buy is a factor. I’m up about 54% in my bitcoin position, but I pretty much bought at a range peak, much higher returns were possible,

What poor Plumster needs to understand is that the Globalists are after a monetary system they completely control. 

So take heed Plumpster at some point they will shut down the whole crypto market. They intend to control absolutely everything.

The trick will be to exit in time.

The only survivor if the Globalists get their way is a world wide CBDC. They will not allow their control of humanity of which the monetary system is key to be flouted by crypto currencies. 

I don't think you appreciate what the stakes are. 

You seem to be pretending that the Globalists of the WEF don't exist. I suggest they be taken seriously. 

I trust also you understand you are now in league with one of the scoundrels. The notorious Mozzietard who now is arguing Nienaber was the reason for the success Rassie had. One ruse after another and you think he is a fair commentator. Hahahahahahaha. 

Ja that was embarrassing for the SEC, given it’s the US the legal consequences  will interesting. With the buy the rumor, sell the event syndrome that seems to be the norm on Wall Street, I wouldn’t be surprised to see a modest bit coin pullback here.

I have learned that lesson trading options…you have to be damn careful. I once was all set to put in a put spread at market close anticipating further market declines overnight. Buy a put at a higher price/sell a put at a lower price.

Fortunately I do have the discipline to simulate all my option trades under up/down assumptions. Then it occurred to me if the market tanked over night, my put buy would be priced too low and wouldn’t close….whereas my put sell would be under priced and transact instantly.

Which would have left me committed to buy the market at yesterday’s price, whereas I really wanted to sell. What seemed like a prudent trade, was a potential disaster.

Most options terminate out of the money…but you only have to be right once. It’s the only way to trade high risk stocks like Alibaba.

makes sense

goodluck

The JSE have opened up a new online trading competition for free, but with some very serious prizes.... where you get R1 million "Capital" to trade with, and the winner at the end of September gets some very decent prizes from what I understand.

The one rule is that you have to have spent at least 75% of your " Capital " before the end of the competition, with other various stipulations on individual share spending etc etc.

Registration is now open, and I thought some of you financial gurus here might be interested in having some fun...

Registration is here.

JSE Trading

ButtPlug, the individuals who have made money from crypto, are:
Millionaires with enough capital to purchase a large number of shares.

Millionaires who know when to sell. (This could be a matter of days, or even hours)

Investing, in general, only starts to make sense for people with a financial net worth closer to the 1 million mark. Otherwise, it is more like a pension when purchasing a small portion of shares. For most people, they would probably be better off freeing up their capital to work on trying to become richer.

Value is established by supply and demand; no technology is going to change that. How much would you pay for a glass of water? Nothing? What about if you were in a desert dying of thirst? (Supply and demand.) If you never had money to pay for the water, what guarantee could you provide that the debt will be paid? Collateral...

Crypto is unstable, and the next recession will destroy it again because it has no collateral. Even if governments backed crypto like a national currency to reduce risk, it would just become like any other currency. So there would be less risk, but also less reward.

It is like gambling; leave investment to experts — people who do this as their day-to-day job. If you have enough to invest, you have enough to pay an expert to advise you."

Plum, what platforms / apps / programs are you using to invest / monitor / store Bitcoin?

Hi DA

To monitor the markets, including traditional markets...TradingView.com is the best by some distance. 

For buying Crypto you pretty much only need Binance or Coinbase and then a local exchange to use as an on-ramp(convert ZAR into USD stablecoins to purchase crypto)...something like Luno.

What are you looking to do? Them toes wanna be dipped in?

How's it going by the way?  

All good here thanks, I hope so that side as well ...

I'm just looking at what is all involved with Bitcoin and if I would really be interested in investing

If one knows absolutely nothing about it, like me, it could be a bit overwhelming when reading all the terminology and various processes, risks and all other aspects with investing in it.

Shot Plum, that would be great

Start here...this guy is the best...

Thanks Plum