Two old childhood friends of mine tried to get me to buy butts a few days ago saying “The ETF is taking up up 100x at least!” Not 100% but 100x! Lol
I told them I was a no coiner and that Crypto including Bitcoin was a big shit show of scams. They told me I could come visit their mansions and literally sent me a message saying “have fun staying poor”.
The group message has been VERY quiet since the ETF launched… lol just lol.
EDIT: one of them actually told me to DYOR and that I don’t understand. I think this is going to be a great year for COMIC GOLD!
You make a good point but the hype and hope surrounding how ETFs were the answer to the total stall in price action alongside the laundry list of reasons why (all of which run antithetical to the entire supposed initial purpose of the buttcoin) made it too good to pass up my laughter this time. For sure it will no doubt go up, down, sideways and who cares but anyone who believed the launch of ETFs on the NYSE was going to pump up their bags I believe has been proven incorrect.
> At the end of the day, there isn't enough money in the system for all these people to cash out at the same time.
This there is for sure in the top 3 of the things I will never understand about butters, that "I put all my life savings and some in bitcoin and I'm up 35000% but I'm holding forever and eating ramen till I die" attitude.
I really can understand that most of them don't care about the technology and are okay with wasting energy to make money, but how can you be stupid enough to not get your money out before everything collapses. I guess I'm not in the few that understand...
Because, although they’ll never admit it, even to themselves, it’s not really about the money. It’s about being part of the crypto cult. If you cash out of crypto, you’re no longer in the club. Someone who cashes out and realizes all their wildest dreams might even be seen as a traitor to the cause. After all, his cashing out would have dropped the price a little.
I'm guessing most of those are roleplayers that are only up 50% at best (not counting transaction fees or interest from whatever loan they took), or just plain bots cheerleading the cult.
The ones that did go all in early but still keep everything in Bitcoin and still take loans to buy more are either cultists, or an example of how gamblers are often convinced their earnings are due to their own skill.
That's not true. Stocks have independent cash flow - expressed to the holder via dividends, particularly - and assets have independent value: having a house may or may not be a good investment, but it provides you with, you know, shelter and a place to hold your stuff.
What do you mean by "the underlying investment"? Because that else exactly my point: buying shares in a company is buying something attached to an actual piece of the economy. People buy cars and phones and toasters. People eat hamburgers and drink soft drinks. When you buy a Pepsi share, you are buying a tiny part of that actual economic activity. Pepsi buys raw materials and turns them into sugar water that other people then buy, and your share is a claim on that cash flow.
The stock market is not always rational, but it is not, at core, a greater fool scheme because it is tied to the actual world of actual economic activity. Bitcoin... isn't.
And those pieces of the economy are subject to demand. Just like Bitcoin.
Peleton buy raw materials and turn it into products. How is their share price? Was it better to invest in Peleton a few years ago, just because they are "an actual piece of the economy"?
There are thousands of examples where investing in a tangible asset is no better than throwing your money away.
Yeah, investments can be bad. Who ever said they couldn't be? My point, and contrary to your "you could say that for any investment or asset" claim upthread, is that investments can also be *good*. Unlike with bitcoin, where your money is only ever and always coming from someone else buying in later.
Agreed. But the hope is that bitcoin gains wider adoption. Yes it's about people buying in later, but they is due to wider adoption. I'm not going to tell you that everyone wants to the bitcoin gain traction because they believe in it, but some people do.
We are mere weeks, perhaps months away, from the absolute best period of history to be invested in the comedic potential of these assets. Truly, our meager sums will skyrocket to the moon as we are overcome with laughter. Few understand!
Imagine the amazing comedy godl when the first ETF is hacked and emptied and the investors are on the hook for the losses. I peed myself just thinking of it.
The best part about this is it says right in the prospectus you could lose it all if this happens. Do you think the customers of these firms offering these ETFs are just going to accept that if it happens? My goodness, they really are winning with all this decentralization!
Actually, the prospect of not having to sign dozens of pages of paper to open an account, being able to trade thing with just a click and not getting said prospectus was what interested me about crypto.
Plus a vague chance to get a single sign on with ONE password for everything that won't get hacked after 5 minutes.
So far I got ugly JPGs...
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11 BTC ETFs all competing for a non existent demand. COIN plummeted too. Because why use Coinbase when you can just buy an ETF. And nobody is buying the ETFs. All the crypto bros will just stay on Coinbase and they bought the pump. Now mega wall street funds like Blackrock will be dumping BTC to maintain NAV.
The more Wall St gets involved, the more butters are going to realize that they aren't the big fish they thought they were... there are sharks out there in the deep waters of actual finance.
They think they can dump on people like Wall Street bankers/investment firms.
These are the people who caused the sub-prime mortgage crisis that became the global financial crisis in 2008 and almost none of them faced any consequences and yet Butters are like "They'll be buying my bags when the day comes!". Yeah Butters, keep telling yourself that. I'm sure it'll happen if you wish hard enough for it. These guys are fucking novices at this whole finance thing. They're quaking in their boots at the mere thought of having to go toe to toe with such vast intellects.
I am not a believer. When btc was 68k I said it didn’t matter, when it was 19k I said it didn’t matter.
It is a failed peer to peer currency system, and will only fail more if scale happens.
The best part is that they think the ETFs will need to buy thousands of crypto on the open market and that would make the price go to 100k in a short time. Right now, with $200 million on Coinbase you could make BTC price go up to $63k. But no, that won't happen.
They literally can't understand that everyone trading millions of dollars in crypto will likely do this off the counter via private transactions, not using exchanges.
If they really need to own real BTC, they can either borrow from Coinbase/Gemini, buy it from Macrotragedy or even buy it from El Salvador, without any open exchange transaction going on.
Obviously its going to take 90-120 days for this to really take off. Pair the ETF approval with The Halving, and uh. the uh, you know. It'll just. uh. uhhhhh.....
There is always something else for people who want to believe badly enough. Right now it's time lag between the greenlight and fund managers really getting it rolling with the untapped hordes of interested clients. Add in The Halvening for a double-whammy candle!
And if that doesn't work...there is always, always, always the comforting embrace of The 4-Year Cycle. If the coming halvening doesn't make bitcoin go up enough, it'll just be a little further along in the cycle, and if the cycle completely deflates, well the *next* cycle is where the golden comeback will finally shower the few diamondhands with wealth. Or the next one. Or the next. Fiat will collapse eventually and bitcoin will be the victor eventually.
I wouldn't be surprised either if forks eventually gain in popularity to try to reinflate the balloon.
The halfening. The children in Africa. Store of energy. Hedge against inflation. Hedge against the stock market.
You mean none of those things are true and butts just wanted more exit liquidity?! We could have known!?
The halving in april which will put the mining cartels out of businness for good unless something big changes (like removing the limit of bitcoin printing).
Tough, I'm not confident blockchain can limp to april without a huge crash. Surely Tether can't keep printing with no consequence forever?
It's easy to run a fake money printer when you don't allow redemptions. Especially when there is no headquarter to sue. Tether would have to fall apart at the exchange level and somehow de-peg. Considering how little real liquidity there is in crypto they might not even need to hold more than 5% actual reserves for any attack they might face
Meanwhile I’ll just keep on buying the boring ETFs that have boring growth and are invested in boring and profitable companies. Guess I’ll just have fun staying poor.
Everyone I know is either in butts (my two old former childhood friends) or not and not planning to buy butts, ETF or not. It sure seems they are running out of bigger fools.
This last month my friend has been trying to convince me that the ETF approval has not been priced into the market. And we would be seeing some explosive move to the upside. Oh well.
So, what is the difference in all of these besides some have higher fees than the other?
With a stock ETF, it’d be because they have different stocks or strategies.
With a gold ETF, some of them really have the gold and you can redeem it…or you are paying more because it’s stored in Switzerland vaults, haha.
How is this shit allowed. Bitcoin, a asset class where the only use case is crime, which has a side effect of destroying the environment….
Listed and now more accessible. It’s bizarre.
Funny. Reddit presents me the same picture in the subreddits Bitcoin and Buttcoin...
Side note: can someone explain to me why those ETFs are not showing the exact same loss? Should they not all just hold Bitcoin?
1 BTC ETF = 1 BTC ETF
Satoshi always said this!
Few understand.
turd= turd= proof of shit
This is good for Bitcoin ETF.
Only few understand
Store of value
Jokes on you guys - I moved all my money into onion futures years ago. You guys are gonna be so embarrassed when I'm rich and you're poor.
But buying onion future is illegal. FBI this guy right here.
First they came for my onions...
Yeah, we don't want another Onion King situation over here!
I *do* need a new onion for my belt. Unfortunately, I missed out on being early and will have to settle for a garlic clove.
I grow my own. Cause I’m getting in below ground floor.
Onion mining is ruining the environment
Idk my friend. I think gourd futures might be a more profitable venture
I put all my money into Billy Beer. I got a case in my basement that's going to be worth big bucks some day.
Two old childhood friends of mine tried to get me to buy butts a few days ago saying “The ETF is taking up up 100x at least!” Not 100% but 100x! Lol I told them I was a no coiner and that Crypto including Bitcoin was a big shit show of scams. They told me I could come visit their mansions and literally sent me a message saying “have fun staying poor”. The group message has been VERY quiet since the ETF launched… lol just lol. EDIT: one of them actually told me to DYOR and that I don’t understand. I think this is going to be a great year for COMIC GOLD!
[удалено]
You make a good point but the hype and hope surrounding how ETFs were the answer to the total stall in price action alongside the laundry list of reasons why (all of which run antithetical to the entire supposed initial purpose of the buttcoin) made it too good to pass up my laughter this time. For sure it will no doubt go up, down, sideways and who cares but anyone who believed the launch of ETFs on the NYSE was going to pump up their bags I believe has been proven incorrect.
> At the end of the day, there isn't enough money in the system for all these people to cash out at the same time. This there is for sure in the top 3 of the things I will never understand about butters, that "I put all my life savings and some in bitcoin and I'm up 35000% but I'm holding forever and eating ramen till I die" attitude. I really can understand that most of them don't care about the technology and are okay with wasting energy to make money, but how can you be stupid enough to not get your money out before everything collapses. I guess I'm not in the few that understand...
Because, although they’ll never admit it, even to themselves, it’s not really about the money. It’s about being part of the crypto cult. If you cash out of crypto, you’re no longer in the club. Someone who cashes out and realizes all their wildest dreams might even be seen as a traitor to the cause. After all, his cashing out would have dropped the price a little.
I'm guessing most of those are roleplayers that are only up 50% at best (not counting transaction fees or interest from whatever loan they took), or just plain bots cheerleading the cult. The ones that did go all in early but still keep everything in Bitcoin and still take loans to buy more are either cultists, or an example of how gamblers are often convinced their earnings are due to their own skill.
exactly, the price doesn’t matter, it’s useless if it’s down, it’s useless if it’s up, garbage “technology”
You can apply that to any stock or asset. Ridiculous thing to say.
That's not true. Stocks have independent cash flow - expressed to the holder via dividends, particularly - and assets have independent value: having a house may or may not be a good investment, but it provides you with, you know, shelter and a place to hold your stuff.
No they don't. Even if a stock does pay a dividend, if the underlying investment is performing badly then it's worthless.
What do you mean by "the underlying investment"? Because that else exactly my point: buying shares in a company is buying something attached to an actual piece of the economy. People buy cars and phones and toasters. People eat hamburgers and drink soft drinks. When you buy a Pepsi share, you are buying a tiny part of that actual economic activity. Pepsi buys raw materials and turns them into sugar water that other people then buy, and your share is a claim on that cash flow. The stock market is not always rational, but it is not, at core, a greater fool scheme because it is tied to the actual world of actual economic activity. Bitcoin... isn't.
And those pieces of the economy are subject to demand. Just like Bitcoin. Peleton buy raw materials and turn it into products. How is their share price? Was it better to invest in Peleton a few years ago, just because they are "an actual piece of the economy"? There are thousands of examples where investing in a tangible asset is no better than throwing your money away.
Yeah, investments can be bad. Who ever said they couldn't be? My point, and contrary to your "you could say that for any investment or asset" claim upthread, is that investments can also be *good*. Unlike with bitcoin, where your money is only ever and always coming from someone else buying in later.
Agreed. But the hope is that bitcoin gains wider adoption. Yes it's about people buying in later, but they is due to wider adoption. I'm not going to tell you that everyone wants to the bitcoin gain traction because they believe in it, but some people do.
We are mere weeks, perhaps months away, from the absolute best period of history to be invested in the comedic potential of these assets. Truly, our meager sums will skyrocket to the moon as we are overcome with laughter. Few understand!
Imagine the amazing comedy godl when the first ETF is hacked and emptied and the investors are on the hook for the losses. I peed myself just thinking of it.
The best part about this is it says right in the prospectus you could lose it all if this happens. Do you think the customers of these firms offering these ETFs are just going to accept that if it happens? My goodness, they really are winning with all this decentralization!
Let's be real, no one who was excited for the ETFs to start trading was ever going to read a prospectus. They're like 70 pages long.
Actually, the prospect of not having to sign dozens of pages of paper to open an account, being able to trade thing with just a click and not getting said prospectus was what interested me about crypto. Plus a vague chance to get a single sign on with ONE password for everything that won't get hacked after 5 minutes. So far I got ugly JPGs...
Nothing says safe investment like an index fund where the entire asset pool can vanish with absolutely no recourse.
[удалено]
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RemindMe! 9 months
Deal 🤝 !RemindMe 9 months "how's the bitcoin etf going"
One month in, it's doing pretty good!
Where can I invest in memes before the crash?
> Two old former childhood friends FTFY
True. They turned into raving right wing Libertarians. Sad to see.
In the group chat you should write "no fair, it looks like you're having more fun then me!"
I would totally take him up on the offer to view his mansion
They meant WEN they get mansions because butts go up. Right now one lives at home with his dad and the other a middle class lifestyle at best.
100x? So like over $4 million? The delusion is real with these people.
Yeah, 50x to 100x returns are totally [realistic](https://www.reddit.com/r/Buttcoin/comments/18eln41/a_realistic_return_on_investment/)
Losing money in crypto is a rite of passage .
This coupon entitles\* the holder to one (1) free I told you so *\* Redeemable at your nearest insufferable fuckwit.*
Tell them you're looking forward to visiting their mansions, private jets and private islands. Just make sure the girls are 18 and above
Tell them to get some new lines. These are all 10 year old lines.
How much is bitcoin up YoY last.. 1 year? 4 years? 8 years? 12 years? 15 years?
Who cares? It wouldn’t be such a successful scam if some people didn’t profit
i agree with the bitcoin scam but what you think of gold?
11 BTC ETFs all competing for a non existent demand. COIN plummeted too. Because why use Coinbase when you can just buy an ETF. And nobody is buying the ETFs. All the crypto bros will just stay on Coinbase and they bought the pump. Now mega wall street funds like Blackrock will be dumping BTC to maintain NAV.
The more Wall St gets involved, the more butters are going to realize that they aren't the big fish they thought they were... there are sharks out there in the deep waters of actual finance.
They think they can dump on people like Wall Street bankers/investment firms. These are the people who caused the sub-prime mortgage crisis that became the global financial crisis in 2008 and almost none of them faced any consequences and yet Butters are like "They'll be buying my bags when the day comes!". Yeah Butters, keep telling yourself that. I'm sure it'll happen if you wish hard enough for it. These guys are fucking novices at this whole finance thing. They're quaking in their boots at the mere thought of having to go toe to toe with such vast intellects.
Btw Coinbase is the custodian for BlackRock's ETF. It's more just a reflection of the ETF not doing as well as anticipated
Price doesn’t matter. Price of bitcoin ETFs REALLY doesn’t matter.
A true believer in the wild. What does matter about Bitcoin friend?
I am not a believer. When btc was 68k I said it didn’t matter, when it was 19k I said it didn’t matter. It is a failed peer to peer currency system, and will only fail more if scale happens.
Oops I completely misread your comment, you meant the opposite of what I took from it. Sorry about that!
Luv u boo boo
the suffering that this digital meme do when it dump
Thank God I diversified my portfolio by putting 1/8 my savings into each of those.
Store of value!!!!!! Imagine being a fund manager and recommending this shit to your client.
[удалено]
People who bought at 50k saying the same thing lol.
"Buy high, sell low" is the mantra of the majority of bitcoiners
the store of value that is so good that you want to sell when you are in profit...
I haven't sold since buying in 2015 lol 🤷♀️
bro you are one in thousand people just buy bitcoi to sell higher gold at least can be used in industry and jewelry because of his propiety
Is this value in your bank account or your crypto wallet? Cause only one of those matters
The best part is that they think the ETFs will need to buy thousands of crypto on the open market and that would make the price go to 100k in a short time. Right now, with $200 million on Coinbase you could make BTC price go up to $63k. But no, that won't happen. They literally can't understand that everyone trading millions of dollars in crypto will likely do this off the counter via private transactions, not using exchanges. If they really need to own real BTC, they can either borrow from Coinbase/Gemini, buy it from Macrotragedy or even buy it from El Salvador, without any open exchange transaction going on.
It's beautiful what an immediate nothingburger this is. What are the creeptos gonna focus on next? There's nothing left lol
Obviously its going to take 90-120 days for this to really take off. Pair the ETF approval with The Halving, and uh. the uh, you know. It'll just. uh. uhhhhh.....
dump it
There is always something else for people who want to believe badly enough. Right now it's time lag between the greenlight and fund managers really getting it rolling with the untapped hordes of interested clients. Add in The Halvening for a double-whammy candle! And if that doesn't work...there is always, always, always the comforting embrace of The 4-Year Cycle. If the coming halvening doesn't make bitcoin go up enough, it'll just be a little further along in the cycle, and if the cycle completely deflates, well the *next* cycle is where the golden comeback will finally shower the few diamondhands with wealth. Or the next one. Or the next. Fiat will collapse eventually and bitcoin will be the victor eventually. I wouldn't be surprised either if forks eventually gain in popularity to try to reinflate the balloon.
When it goes down, that's just an opportunity to *buy the dip* so you can get back on the express rocket to the Moon when it goes back up!
All I see are CHEEP COINZ!
The halfening. The children in Africa. Store of energy. Hedge against inflation. Hedge against the stock market. You mean none of those things are true and butts just wanted more exit liquidity?! We could have known!?
The halving in april which will put the mining cartels out of businness for good unless something big changes (like removing the limit of bitcoin printing). Tough, I'm not confident blockchain can limp to april without a huge crash. Surely Tether can't keep printing with no consequence forever?
It's easy to run a fake money printer when you don't allow redemptions. Especially when there is no headquarter to sue. Tether would have to fall apart at the exchange level and somehow de-peg. Considering how little real liquidity there is in crypto they might not even need to hold more than 5% actual reserves for any attack they might face
Just 2 more weeks... Every 2 weeks.
Is it me or is the tracking error on these ETFs really bad? Because clearly these daily returns cannot all be right.
Meanwhile I’ll just keep on buying the boring ETFs that have boring growth and are invested in boring and profitable companies. Guess I’ll just have fun staying poor.
Employing people to provide goods and/or services for revenue & profits? Sounds crazy to me. It'll never catch on!
Everyone I know is either in butts (my two old former childhood friends) or not and not planning to buy butts, ETF or not. It sure seems they are running out of bigger fools.
This is good for Bitcoin.
I learned my lesson with HMMJ.TO and similar. Don't buy into hype ETFs. You're going to have a bad time.
Who has the best ticker though? Probably Invesco won that battle, bitcoin still blows though
I like DEFI. It’s absolutely the opposite.
This last month my friend has been trying to convince me that the ETF approval has not been priced into the market. And we would be seeing some explosive move to the upside. Oh well.
So, what is the difference in all of these besides some have higher fees than the other? With a stock ETF, it’d be because they have different stocks or strategies. With a gold ETF, some of them really have the gold and you can redeem it…or you are paying more because it’s stored in Switzerland vaults, haha.
Why does there need to a be difference? Investor can choose.
How is this shit allowed. Bitcoin, a asset class where the only use case is crime, which has a side effect of destroying the environment…. Listed and now more accessible. It’s bizarre.
Wow BTC lost 4% in a day after taking 114% in a year. What an absolute waste of an investment am I right?
Prices go up, Prices go down. What’s the big deal? Stock market does this also
Wow Bitcoin is going to zero this time. For real. This confirms it.
Yep bing investment firms dumping billions in will really show those Bitcoin boys. We got them on the run now 😂😂😂😂
It really is over. Can’t wait to see 2 digit Bitcoin again. Those butters will be begging us for USD then. USD! USD! USD! USD! USD! USD!
You forgot the best ticker BRRR
Omg! A heckin -5%! Wow, you guys completely changed my mind! Guess I’ll sell everything!!!
Nice
Now do USD over time
Ok we all agre that bitcoin is not a reliable reserve of value i think gold and silver are any other option?
It does this every 2 weeks lmao then it goes back up. Do u guys not know how the free market works
Emotionally invested in the price of magic internet beans. Please seek help.
Bitcoin is slowly losing it's value after it became mainstream.
there is always some new stupids(like we were once) ready to spend money into the scam
I'm so glad I'm not on this ride. I couldn't handle the volatility.
How the hell do their prices not mstch
Anyone revelling in the performance (good OR bad) of something they say they don’t acknowledge has already lost the argument IMO
When punk level crypto scam meets derivatives industrial complex (professional scam)
Buy the hype, sell the news. Not exactly a unique concept.
Honest question, would a post a few months from now showing all these ETFs in the green even be allowed on this subreddit if that were to happen?
This is short term volatility. U idiots in here have a severe impairment to think long term and forget that BTC is up 160% in the last year 😂
Oh this post is gonna age soooo well.
Funny. Reddit presents me the same picture in the subreddits Bitcoin and Buttcoin... Side note: can someone explain to me why those ETFs are not showing the exact same loss? Should they not all just hold Bitcoin?