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GRAYSCALE BITCOIN TRUST BTC (GBTC)

Other OTC - Other OTC Delayed Price. Currency in USD
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30.53+0.03 (+0.10%)
At close: 03:59PM EST
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  • M
    Mephistopheles B
    Maybe somebody know the answers to three possibly basic Bitcoin related questions:
    1: what proportion of processing power is going towards mining “new” coins, versus approving transactions?
    2: does holding a Bitcoin (or shares in a trust) result in any significant energy useage?
    3: how is the efficiency of processing changing these dynamics? With Moores Law regarding processing power, one would expect greater efficiencies. But of course the solving gets harder — all in balance, one would expect.
    I ask this as an early buyer and long term holder of Bitcoin in various investment types, mostly GBTC. Current holdings approximately one Bitcoin (equivalent) or about 1.5% of invested assets (not including home which is mortgage free) 😀
    I’ve done well until recently with this, along with everything else.
    Bullish
  • W
    William ₿
    This past Wednesday, Minnesota Republican Representative, Tom Emmer, introduced a bill that would put a damper on the Fed’s powers in issuing a digital currency directly to American citizens, which he thinks would put the nation on an authoritarian path.

    “Requiring users to open up an account at the Fed to access a US CBDC would put the Fed on an insidious path akin to China's digital authoritarianism," he said in a statement. "It is important to note that the Fed does not, and should not, have the authority to offer retail bank accounts."

    Although Fed Chair Jerome Powell said cryptos could co-exist with central bank-issued cryptocurrencies, the congressman argues a CBCD would allow the Fed to surveil Americans, which defeats the whole purpose of a decentralized cryptocurrency.

    "CBDCs that fail to adhere to these three basic principles could enable an entity like the Federal Reserve to mobilize itself into a retail bank, collect personally identifiable information on users, and track their transactions indefinitely," he said.
    Bullish
  • W
    William ₿
    Simplify Asset Management has applied for an ETF focused on Web3 that will invest up to 10% of its assets in the Grayscale Bitcoin Trust, an investment vehicle that tracks the price of bitcoin, the Wed. filing said. The fund would trade under the ticker WIII.
    Bullish
  • W
    William ₿
    21 days to Feb 6 decision date to approve or postpone again GBTC conversion to BTC ETF.
  • W
    William ₿
    Most people in “crypto” are buying with the intent to dump at a higher price. Most people in Bitcoin are buying with the intent to rewrite the monetary system. They are not the same.
    Bullish
  • W
    William ₿
    “I’m very frustrated with Chair [Gary] Gensler,” @RepTomEmmer says of the SEC’s rejection of spot bitcoin ETfs.

    “This is driving opportunity off our shores.”

    https://youtu.be/YNM9pIh0tjs?t=335
    Bullish
  • A
    AIRoboInvestor17
    Forbes: Fidelity advising to buy Bitcoin

    Now, Wall Street giant Fidelity has said other countries and even a central bank could follow El Salvador and Tesla into bitcoin this year—predicting those that buy bitcoin while the price is low “will be better off competitively than their peers.”
    Bullish
  • W
    William ₿
    Hyperbitcoinization doesn't happen when people who like Bitcoin want to buy. It occurs when the people who hate Bitcoin have to buy.
    Bullish
  • I
    I_hide_in_bear_markets
    Tried to post a for articles on this, even a Yahoo one. search: coinbase to offer derivatives. This is the last thing that we need.
  • W
    William ₿
    Jack Dorsey announces Bitcoin Legal Defense Fund
    The fund will help provide a legal defense for Bitcoin developers and will include a team of volunteers and part-time lawyers.
  • M
    MT
    MTFUD Lets say bitcoin has a reversal and hits 100,000 in a few months.
    Remember Bitcoin is thinly traded, so that means a few percentage of the float was sold at 100,000
    Now according to the bulls, bitcoin is the base layer for a new financial system. If that is true, then bitcoin must be a claim on goods and services. But has anyone considered if bitcoin itself is not a good what happens when everyone tries to make a claim on goods. For example, when apple stock goes up an iphone is created adding to the supply of goods. With Bitcoin you only really want the stuff you trade it for or converted into fiat and then traded for real stuff. So if bitcoin goes to 100,000 and doubles it's market cap. Were 1 trillion dollars worth of goods created? (answer this in your head first) And if not, what happens when people cash out and try to make a claim on these goods that were not created. Now @stonks does not think I am smart as I think I am. But has anyone considered what base layer for new financial system means.
  • W
    William ₿
    I haven't held on to ₿itcoin this long only to hold on to it this long.
    Bullish
  • W
    William ₿
    An owner of a 2018 Tesla Model 3 says that he has been using his vehicle to mine crypto for a while now. He’s tried several different methods and was making upwards of $800 mining Ethereum when the cryptocurrency was at its peak last year.

    What Raval is essentially doing is using his Tesla as a power source. He has mined crypto using a couple of different methods. First, he plugged his laptop into the power socket in the center console of his car and ran a Bitcoin miner from there. He then went a good step further and hooked up a dedicated mining machine with five GPUs directly to the battery of his car. Raval said that he hacked into his Tesla’s firmware to allow for more power output and that was the most profitable method that he has found for mining crypto.

    But Raval has his doubters. Another crypto miner and fellow Tesla hacker, Thomas Sohmers, told CNBC that Raval’s hacking was unnecessary. “The car is already built to deliver over 100 kilowatts…There’s no need to do what [Raval] says he’s doing. It doesn’t make technical sense.”

    But Raval is blind to the haters. He told CNBC that he plans to turn his Tesla into a fully automated taxi that mined cryptocurrency while it wasn’t driving.

    He said he’ll then take the money earned from both transportation and crypto mining to maintain the car and “invest into a diversified portfolio of emerging crypto-community networks.” Those are some pretty bold ambitions, considering how far we are from fully-automated Teslas.
  • M
    MT
    Even more articles coming out on banning bitcoin mining as electricity costs soar. A prediction I made months ago ( People downgraded my warning). I warned all of you that some politicians would ban bitcoin mining as the populace needs would take precedence. Sweden, China, Russia, Kazakhstan, Kosovo, and Iceland (banned new miners) - This list is growing by the week. The price of oil, natural gas and electricity must be on any bitcoin bulls watch list. If the price of power continues to soar, these bans are only going to get worse.
  • P
    Phillip
    A few good days! According to my charts the only resistance for bitcoin is at 100K.
    Bullish
  • S
    Stonks_Rise_Above
    The long winter war continues. Correlation to Nasdaq is like looking in a mirror. They think theyve coopted the coin but BTC's on every news station and ticker tape. Who's coopted who here?
  • W
    William ₿
    People sell stocks in fear of inflation hurting margins and profits. People sell stocks in fear of rate increases making debt more expensive and hurting profits. People buy ₿itcoin as an inflation hedge when people fear inflation will hurt the value/buying power of FIAT. People sell ₿itcoin when people fear rate increases will slow inflation and increase the value/buying power of FIAT. People ask questions later and sell ₿itcoin to raise liquidity to reposition their portfolios and cover margin calls when the whole market declines. It is what it is.
  • M
    MT
    wait one more. Remember that mortgage company United Whole Sale mortgage was going to accept bitcoin for mortgage payments and I told you all this was essentially a sales gimmick and it would not work. This was bitcoin pumper news on every outlet. Turns out United Whole Sale mortgage "ditched" their plan because it was too expensive and no one was using the service. See what happens when you think objectively. I wonder how many of you would buy a volcano bond?
  • T
    Thename
    Buy on the dips - sell on the little spikes...

    Make continuous money on its volatility...
  • J
    Jim
    What the digital coins are not is a store of value or a hedge against inflation.

    Like TSLA or FB (and a lot of other 'assets'), they have only existed since the 2008 GFC and subsequent QE monetary experiment. In fact, digital coins were created in part as a reaction to global QE.

    Recessions are a great way to clear up confusion about what is merely a leveraged play of the Federal Reserve balance sheet and what actually is creating value, and right now there are a lot of 'investors' who are deeply confused.

    If QE has peaked and now is forced by persistent consumer inflation to be normalized, then a lot of assets are going to be normalized as well. Pandemic stimulus and other programs which fed trillions into the hands of consumers may eventually be seen as QE 'jumping the shark'.
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