<![CDATA[Scrib]]> https://scrib-brugeman.npub.pro/tag/bitcoin-etf/ https://scrib-brugeman.npub.pro/tag/bitcoin-etf/rss/ episodic Thu, 15 Feb 2024 05:59:28 GMT Thu, 15 Feb 2024 05:59:28 GMT <![CDATA[Scrib]]> https://scrib-brugeman.npub.pro/tag/bitcoin-etf/ https://pbs.twimg.com/profile_images/1622637093104291840/Cnxe6q2g_400x400.jpg <![CDATA[Bitcoin Mining Conditions Heading Into The Halving]]> Thu, 15 Feb 2024 05:59:28 GMT https://scrib-brugeman.npub.pro/post/https-tftc-iobitcoin-mining-halving-2024/ https://scrib-brugeman.npub.pro/post/https-tftc-iobitcoin-mining-halving-2024/ naddr1qqkxsar5wpen5te0w3n8gcewd9hj7cnfw33k76tw94kkjmnfdenj66rpd3mxjmn895erqv359upzq2pydthdke720vjsrjm9srwq9jcjkqk24nk37u5mkcv46p3tzz9dqvzqqqr4gua4peu9 Marty's Ƀent naddr1qqkxsar5wpen5te0w3n8gcewd9hj7cnfw33k76tw94kkjmnfdenj66rpd3mxjmn895erqv359upzq2pydthdke720vjsrjm9srwq9jcjkqk24nk37u5mkcv46p3tzz9dqvzqqqr4gua4peu9 npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by Marty Bent.

Read original post

The last week has been a surreal in the world of bitcoin. I think it's safe to say that most people were convinced that the approval of the bitcoin ETFs would bring significant demand for bitcoin with them. However, I don't think anyone thought that the ETFs would be as successful as they have been since their launch last month. While I don't believe that anyone who cares about getting proper exposure to bitcoin should be buying the ETFs (there are much more secure ways to buy bitcoin that enable you to actually hold the asset yourself), it is impossible to ignore the success that they've had at accumulating bitcoin.

UPDATE

Bitcoin ETF Net In Flows + 12.8K #BTC 🚀

New All Time High 704.4K BTC Held in ETFs
New 9 ETFs + 14.3K BTC

Highlights
Blackrock +10K BTC 🤯
Fidelity + 3.3K BTC
GBTC -1.5K BTC

Follow our ETF Tracker for Live Updates pic.twitter.com/THHyeSMdsL

— Thomas | heyapollo.com (@thomas_fahrer) February 14, 2024

As it stands today, in aggregate, the ETFs hold ~704,400 bitcoin. Though, it should be noted that GBTC converted their trust product which already had over 610,000 into an ETF and brought that BUM with them to the broader bitcoin ETF market. GBTC has seen a material outflow due to the fact that FTX's bankruptcy estate decided to liquidate all of their shares to pay back creditors waiting in line to get their money back from the Ponzi scheme led by Sam Bankman-Fried, and the fact that GBTC is objectively a shitty product due to their fees, which are egregiously higher than their competitors.

Over the last week, it seems that the market has weathered the outflows from GBTC and momentum for inflows into the other ETFs, dominated by Blackrock and Fidelity, has reached a breakout pace. Over the last four days inflows have averaged well above 10,000 bitcoin per day. Today, there were more than 14,300 bitcoin that were purchased on the market by ETF issuers. To put this into context, as it stands today, 900 new bitcoin are distributed to the market per day via the block subsidy. That subsidy is set to fall to 450 bitcoin per day in 9,479 blocks. If this pace keeps up (let's assume 10,000 bitcoin per day) ETF issues will be eating up 11.11x the daily issuance leading up to the halving. And, if the demand from ETFs persists, that will double to 22.22x the daily issuance. This stat is even more jarring when you consider the fact that more than 70% of bitcoin is held in addresses that have been dormant for a year or longer.

[

Bitcoin Surges Past $51,775 As ETF Net Inflows Surpass 10,000 Bitcoin Per Day

Bitcoin is back over $51,775 for the first time since early December 2021 and has surpassed a $1 Trillion market.

TFTC – Truth for the CommonerMarty Bent

](https://tftc.io/bitcoin-etf-net-inflows-10-000/)

Now, these type of flows in bitcoin terms will simply not be able to persist. At least not for longer than ~2,000 days. If they did, the ETFs would hold all of the bitcoin on the market. This is simply not going to happen. The demand in dollar terms may persist, but the ETFs won't be pulling 10,000+ bitcoin off the market for too long. The supply and demand dynamics of a finitely scarce asset will come into play and drive up the price to a point where it is impossible to scoop up that much bitcoin. With bitcoin over $52,000 at the time of writing, it is pretty clear that these dynamics are already at play. The question that many are asking is, "At what point does the supply of bitcoin available on OTC desk become so scarce that it affects the price of bitcoin in unprecedented ways?" Creating intraday gap-ups that have not been seen in bitcoin's history?

If this momentum keeps up, I would not be surprised if that day comes sooner than most people think. And if it does come sooner than people think, particularly before the next block subsidy halving coming in April, it could create a very unique market environment for the bitcoin mining industry.

Historically, bitcoin block subsidy halvings have been cleansing event for the mining industry. The subsidy gets cut in half, therefore cutting miners' revenue (sats/terahas/day) in half literally immediately from one block to the next (block 839,999 to block 840,000 in this case), and forcing miners with older machines and electricity costs that are too high post-halving out of the market. The price of bitcoin at the time of previous halving events has been anywhere from 40-60% below the all time highs set in the previous bull market. The price is either dumping or sputtering into halving events. What makes this year's halving particularly interesting is that the price of bitcoin is ripping. As it stand today, the price of bitcoin is only 24.3% below the current all time high of $69,010. And we have a little over two months until the next halving.

This leads me to wonder whether or not this cycle will be different for the mining industry. If price keeps heading up-and-to-the-right, it is totally plausible that the halving event won't be as catastrophic for lower tier miners as it has been in past cycles. One only has to look at a hashprice chart to see that this cycle is already shaping up to be a bit different.

via Braiins

As you can see from the chart above, the hashprice dynamics heading into the halving are drastically different than they were in 2020. In 2020, hashprice was falling along with price into the halving. The two red boxes highlight the overnight dump to $3,500 which cut hashprice by ~40% and the halving, which cut hashprice by 50% from block 629,999 to block 630,000. If you pan over to the far right of the chart, you'll notice that we're in a completely new environment this time around. Hashprice has been making a concerted march off the floor set last Fall and is accelerating upward as the price of bitcoin rises. Yes, hashprice may be lower than it was in 2020, but it is important to understand that this low point is where the market has settled. Miners have adapted their businesses to weather the bear market, locking in the power costs that are as low as possible, and ASICs that enable them to run profitably. The bottom of the hashprice bear market last Fall was $0.059/TH/day and we are currently standing at $0.092/TH/day. If the price keeps running it is not unfathomable that hashprice will be more than double the floor that was set last Fall.

If this is the case, there is a strong case to be made that this halving won't be the market clearing mechanism that it has been in the past. Miners that would have been forced to shut down after past halvings may be able to keep hashing this time around. Now, with that being said, it is important to keep in mind that hashrate and difficulty are currently ripping alongside the price. As it stands right now, we will have another +7.6% difficulty adjustment in ~11 hours.

Bitmain released their S21 series to the market in January, which has introduced a much more efficient fleet to the market. More countries have entered the mining fray. And energy companies have begun to wise up to the opportunity that bitcoin mining provides them to bolster their revenue streams. All of this means that mining is becoming even more competitive by that day, which would naturally force weaker miners out of the market all else held equal.

The question that every miner is asking themself right now is, "Can the price pump protect us from a halving death blow?" We shall see. And a price pump bailout is not something that any miner who fancies themself to be a competent operator should be depending on. However, from a point of pure observation, it is impossible not to wonder if this may be the case. And if it is, what type of psychological effect does that have on the mining industry, the broader public's perception of bitcoin and the overall health of the network? I guess we'll find out.

This is something to pay attention to in the months ahead.

Final thought...

Get your ass to the Bitcoin Takeover in Austin on March 15th if you want to hear from some of the most impressive people bringing about the Bitcoin Standard.

Sign Up Today

Use the code "TFTC" for 15% off

]]> This post was originally published on https://tftc.io by Marty Bent.

Read original post

The last week has been a surreal in the world of bitcoin. I think it's safe to say that most people were convinced that the approval of the bitcoin ETFs would bring significant demand for bitcoin with them. However, I don't think anyone thought that the ETFs would be as successful as they have been since their launch last month. While I don't believe that anyone who cares about getting proper exposure to bitcoin should be buying the ETFs (there are much more secure ways to buy bitcoin that enable you to actually hold the asset yourself), it is impossible to ignore the success that they've had at accumulating bitcoin.

UPDATE

Bitcoin ETF Net In Flows + 12.8K #BTC 🚀

New All Time High 704.4K BTC Held in ETFs
New 9 ETFs + 14.3K BTC

Highlights
Blackrock +10K BTC 🤯
Fidelity + 3.3K BTC
GBTC -1.5K BTC

Follow our ETF Tracker for Live Updates pic.twitter.com/THHyeSMdsL

— Thomas | heyapollo.com (@thomas_fahrer) February 14, 2024

As it stands today, in aggregate, the ETFs hold ~704,400 bitcoin. Though, it should be noted that GBTC converted their trust product which already had over 610,000 into an ETF and brought that BUM with them to the broader bitcoin ETF market. GBTC has seen a material outflow due to the fact that FTX's bankruptcy estate decided to liquidate all of their shares to pay back creditors waiting in line to get their money back from the Ponzi scheme led by Sam Bankman-Fried, and the fact that GBTC is objectively a shitty product due to their fees, which are egregiously higher than their competitors.

Over the last week, it seems that the market has weathered the outflows from GBTC and momentum for inflows into the other ETFs, dominated by Blackrock and Fidelity, has reached a breakout pace. Over the last four days inflows have averaged well above 10,000 bitcoin per day. Today, there were more than 14,300 bitcoin that were purchased on the market by ETF issuers. To put this into context, as it stands today, 900 new bitcoin are distributed to the market per day via the block subsidy. That subsidy is set to fall to 450 bitcoin per day in 9,479 blocks. If this pace keeps up (let's assume 10,000 bitcoin per day) ETF issues will be eating up 11.11x the daily issuance leading up to the halving. And, if the demand from ETFs persists, that will double to 22.22x the daily issuance. This stat is even more jarring when you consider the fact that more than 70% of bitcoin is held in addresses that have been dormant for a year or longer.

[

Bitcoin Surges Past $51,775 As ETF Net Inflows Surpass 10,000 Bitcoin Per Day

Bitcoin is back over $51,775 for the first time since early December 2021 and has surpassed a $1 Trillion market.

TFTC – Truth for the CommonerMarty Bent

](https://tftc.io/bitcoin-etf-net-inflows-10-000/)

Now, these type of flows in bitcoin terms will simply not be able to persist. At least not for longer than ~2,000 days. If they did, the ETFs would hold all of the bitcoin on the market. This is simply not going to happen. The demand in dollar terms may persist, but the ETFs won't be pulling 10,000+ bitcoin off the market for too long. The supply and demand dynamics of a finitely scarce asset will come into play and drive up the price to a point where it is impossible to scoop up that much bitcoin. With bitcoin over $52,000 at the time of writing, it is pretty clear that these dynamics are already at play. The question that many are asking is, "At what point does the supply of bitcoin available on OTC desk become so scarce that it affects the price of bitcoin in unprecedented ways?" Creating intraday gap-ups that have not been seen in bitcoin's history?

If this momentum keeps up, I would not be surprised if that day comes sooner than most people think. And if it does come sooner than people think, particularly before the next block subsidy halving coming in April, it could create a very unique market environment for the bitcoin mining industry.

Historically, bitcoin block subsidy halvings have been cleansing event for the mining industry. The subsidy gets cut in half, therefore cutting miners' revenue (sats/terahas/day) in half literally immediately from one block to the next (block 839,999 to block 840,000 in this case), and forcing miners with older machines and electricity costs that are too high post-halving out of the market. The price of bitcoin at the time of previous halving events has been anywhere from 40-60% below the all time highs set in the previous bull market. The price is either dumping or sputtering into halving events. What makes this year's halving particularly interesting is that the price of bitcoin is ripping. As it stand today, the price of bitcoin is only 24.3% below the current all time high of $69,010. And we have a little over two months until the next halving.

This leads me to wonder whether or not this cycle will be different for the mining industry. If price keeps heading up-and-to-the-right, it is totally plausible that the halving event won't be as catastrophic for lower tier miners as it has been in past cycles. One only has to look at a hashprice chart to see that this cycle is already shaping up to be a bit different.

via Braiins

As you can see from the chart above, the hashprice dynamics heading into the halving are drastically different than they were in 2020. In 2020, hashprice was falling along with price into the halving. The two red boxes highlight the overnight dump to $3,500 which cut hashprice by ~40% and the halving, which cut hashprice by 50% from block 629,999 to block 630,000. If you pan over to the far right of the chart, you'll notice that we're in a completely new environment this time around. Hashprice has been making a concerted march off the floor set last Fall and is accelerating upward as the price of bitcoin rises. Yes, hashprice may be lower than it was in 2020, but it is important to understand that this low point is where the market has settled. Miners have adapted their businesses to weather the bear market, locking in the power costs that are as low as possible, and ASICs that enable them to run profitably. The bottom of the hashprice bear market last Fall was $0.059/TH/day and we are currently standing at $0.092/TH/day. If the price keeps running it is not unfathomable that hashprice will be more than double the floor that was set last Fall.

If this is the case, there is a strong case to be made that this halving won't be the market clearing mechanism that it has been in the past. Miners that would have been forced to shut down after past halvings may be able to keep hashing this time around. Now, with that being said, it is important to keep in mind that hashrate and difficulty are currently ripping alongside the price. As it stands right now, we will have another +7.6% difficulty adjustment in ~11 hours.

Bitmain released their S21 series to the market in January, which has introduced a much more efficient fleet to the market. More countries have entered the mining fray. And energy companies have begun to wise up to the opportunity that bitcoin mining provides them to bolster their revenue streams. All of this means that mining is becoming even more competitive by that day, which would naturally force weaker miners out of the market all else held equal.

The question that every miner is asking themself right now is, "Can the price pump protect us from a halving death blow?" We shall see. And a price pump bailout is not something that any miner who fancies themself to be a competent operator should be depending on. However, from a point of pure observation, it is impossible not to wonder if this may be the case. And if it is, what type of psychological effect does that have on the mining industry, the broader public's perception of bitcoin and the overall health of the network? I guess we'll find out.

This is something to pay attention to in the months ahead.

Final thought...

Get your ass to the Bitcoin Takeover in Austin on March 15th if you want to hear from some of the most impressive people bringing about the Bitcoin Standard.

Sign Up Today

Use the code "TFTC" for 15% off

]]> <![CDATA[Bitcoin Surges Past $51,775 As ETF Net Inflows Surpass 10,000 Bitcoin Per Day]]> Wed, 14 Feb 2024 14:04:50 GMT https://scrib-brugeman.npub.pro/post/https-tftc-iobitcoin-etf-net-inflows-10-000/ https://scrib-brugeman.npub.pro/post/https-tftc-iobitcoin-etf-net-inflows-10-000/ naddr1qqhksar5wpen5te0w3n8gcewd9hj7cnfw33k76tw94jhge3ddejhgttfdenxcmmhwvknzvpdxqcrqtczyq5zg6hwmdnu57e9q89ktqxuqt939vpv4t8draefhdset5rzkyy26qcyqqq823cr9403e bitcoin price naddr1qqhksar5wpen5te0w3n8gcewd9hj7cnfw33k76tw94jhge3ddejhgttfdenxcmmhwvknzvpdxqcrqtczyq5zg6hwmdnu57e9q89ktqxuqt939vpv4t8draefhdset5rzkyy26qcyqqq823cr9403e npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by Marty Bent.

Read original post

Image

via Thomas Fahrer

Bitcoin is back over $51,775 for the first time since early December 2021 and has surpassed a $1 Trillion market. The run in price follows another banner day for the bitcoin ETFs, which saw a new all time high in net bitcoin inflows with more than 10,200 flowing into the different vehicles. Blackrock alone added more than 7,500 bitcoin while Fidelity added more than 3,000. There are now more than 692,000 bitcoin held in ETFs.

Here's what these flows look like in dollar terms, which also reached a new all time high in net inflows:

Image

via Zero Hedge

This is what happens when a flood of demand come for the scarcest asset on the planet. The number of people who want to acquire bitcoin could raise to 8 billion and the network would only distribute the amount that is dictated by the protocol at each block. Right now that is 6.25 bitcoin per block, but in 9,573 blocks (at block height 840,000) that will get cut in half to 3.125 bitcoin per block. As of right now, it is estimated that block 840,000 will be mined on April 20th.

Put another way, all of the money flowing into ETFs and into direct (proper) bitcoin exposure will be find it increasingly hard to source newly distributed bitcoin. They will have to hope that people already holding bitcoin decide to part ways with their holdings. Unfortunately for them, more than 70% of bitcoin hasn't moved in more than one year with ~45% remaining dormant for more than 3 years.

via Unchained

[

Bitcoin Custody for Businesses: A Comprehensive Guide

The landscape of corporate asset management is evolving rapidly with the advent of Bitcoin. As businesses look to diversify their treasuries, Bitcoin has emerged as a compelling asset class.

TFTC – Truth for the CommonerStaff

](https://tftc.io/unchained-how-to-securely-custody-bitcoin-for-businesses/)

]]> This post was originally published on https://tftc.io by Marty Bent.

Read original post

Image

via Thomas Fahrer

Bitcoin is back over $51,775 for the first time since early December 2021 and has surpassed a $1 Trillion market. The run in price follows another banner day for the bitcoin ETFs, which saw a new all time high in net bitcoin inflows with more than 10,200 flowing into the different vehicles. Blackrock alone added more than 7,500 bitcoin while Fidelity added more than 3,000. There are now more than 692,000 bitcoin held in ETFs.

Here's what these flows look like in dollar terms, which also reached a new all time high in net inflows:

Image

via Zero Hedge

This is what happens when a flood of demand come for the scarcest asset on the planet. The number of people who want to acquire bitcoin could raise to 8 billion and the network would only distribute the amount that is dictated by the protocol at each block. Right now that is 6.25 bitcoin per block, but in 9,573 blocks (at block height 840,000) that will get cut in half to 3.125 bitcoin per block. As of right now, it is estimated that block 840,000 will be mined on April 20th.

Put another way, all of the money flowing into ETFs and into direct (proper) bitcoin exposure will be find it increasingly hard to source newly distributed bitcoin. They will have to hope that people already holding bitcoin decide to part ways with their holdings. Unfortunately for them, more than 70% of bitcoin hasn't moved in more than one year with ~45% remaining dormant for more than 3 years.

via Unchained

[

Bitcoin Custody for Businesses: A Comprehensive Guide

The landscape of corporate asset management is evolving rapidly with the advent of Bitcoin. As businesses look to diversify their treasuries, Bitcoin has emerged as a compelling asset class.

TFTC – Truth for the CommonerStaff

](https://tftc.io/unchained-how-to-securely-custody-bitcoin-for-businesses/)

]]> <![CDATA[Unpacking the Impact of Bitcoin ETFs with James Seyffart]]> Wed, 14 Feb 2024 14:00:25 GMT https://scrib-brugeman.npub.pro/post/https-tftc-iounpacking-the-impact-of-bitcoin-etfs-james-seyffart/ https://scrib-brugeman.npub.pro/post/https-tftc-iounpacking-the-impact-of-bitcoin-etfs-james-seyffart/ naddr1qpzxsar5wpen5te0w3n8gcewd9hj7atwwpskx6mfdenj6argv5kkjmtsv93hgtt0vckky6t5vdhkjm3dv46xvueddfsk6etn94ek27txveshyap0qgszsfr2amdk0jnmy5qukevqmspvky4s9j4va50h9xakr9wsv2cs3tgrqsqqqa28ujckjl Podcast naddr1qpzxsar5wpen5te0w3n8gcewd9hj7atwwpskx6mfdenj6argv5kkjmtsv93hgtt0vckky6t5vdhkjm3dv46xvueddfsk6etn94ek27txveshyap0qgszsfr2amdk0jnmy5qukevqmspvky4s9j4va50h9xakr9wsv2cs3tgrqsqqqa28ujckjl npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by Staff.

Read original post

Key Takeaways

The recent episode of The Bitcoin Frontier podcast features an insightful conversation with James Seyffart, a Bloomberg Intelligence analyst with a comprehensive background in ETFs. The discussion zeroes in on the intersection of traditional finance (TradFi) and Bitcoin, particularly through the lens of Bitcoin ETFs.

James provides a behind-the-scenes look at the ETF landscape, explaining how these funds serve as a bridge for institutional and retail investors seeking exposure to Bitcoin without the complexities of direct ownership. The eight to nine Bitcoin ETFs that have launched are, contrary to some opinions, not flops, but rather successful ventures in the ETF space. As these ETFs gain assets and volume, they're expected to become an even more integral part of the investment ecosystem.

The conversation touches on the approval process for the Bitcoin ETF, with James critiquing the SEC's hesitance and eventual capitulation, largely due to the Grayscale lawsuit. He argues that the SEC's resistance was rooted in political considerations, with influences from Democratic Party figures like Elizabeth Warren, rather than a genuine concern for investor protection.

Moreover, the podcast explores the role of ETFs in reducing Bitcoin's volatility. The notion is that as ETFs become more prevalent, the automatic rebalancing by investors could dampen extreme price swings, thereby contributing to a more stable Bitcoin market.

Best Quotes

  1. "ETFs are like a solar system, essentially. As they get volume, as they get assets, it helps them to get more volume and get more assets." - James Seyffart
  2. "I think of [the Bitcoin ETF] as a bridge to the Bitcoin rail. It's the widest, most efficient bridge you can create between TradFi and Bitcoin." - James Seyffart
  3. "The SEC should trust the ETF industry and these traders who make up this industry more than they distrust the crypto and Bitcoin industry because they will clean things up." - James Seyffart
  4. "This [Bitcoin ETF] is a win for end retail investors. This is an efficient product, this is an efficient market, and this is a win." - James Seyffart
  5. "The less trading you do, the better off you are, because then you're just giving money to Wall Street, essentially." - James Seyffart

Conclusion

The recent podcast episode with James Seyffart serves as a testament to the transformative potential of Bitcoin ETFs within the financial market. Despite the initial skepticism and regulatory hurdles, these ETFs are carving out a space that not only facilitates Bitcoin exposure for traditional investors but also promises to reduce the asset's notorious volatility.

James's insights demystify the world of ETFs and underscore the importance of allowing the market to adapt and adopt new financial products. The conversation sheds light on the political dynamics that can affect financial innovation and the need for the industry to embrace efficiency and investor protection.

As the Bitcoin ETFs continue to evolve, it's clear that their impact will span beyond mere investment vehicles—they symbolize a step towards the normalization and integration of digital assets within the broader financial landscape. Whether as a "gateway drug" or a "wide bridge," Bitcoin ETFs are poised to play a pivotal role in shaping the future of investment and the mainstream acceptance of Bitcoin.

]]> This post was originally published on https://tftc.io by Staff.

Read original post

Key Takeaways

The recent episode of The Bitcoin Frontier podcast features an insightful conversation with James Seyffart, a Bloomberg Intelligence analyst with a comprehensive background in ETFs. The discussion zeroes in on the intersection of traditional finance (TradFi) and Bitcoin, particularly through the lens of Bitcoin ETFs.

James provides a behind-the-scenes look at the ETF landscape, explaining how these funds serve as a bridge for institutional and retail investors seeking exposure to Bitcoin without the complexities of direct ownership. The eight to nine Bitcoin ETFs that have launched are, contrary to some opinions, not flops, but rather successful ventures in the ETF space. As these ETFs gain assets and volume, they're expected to become an even more integral part of the investment ecosystem.

The conversation touches on the approval process for the Bitcoin ETF, with James critiquing the SEC's hesitance and eventual capitulation, largely due to the Grayscale lawsuit. He argues that the SEC's resistance was rooted in political considerations, with influences from Democratic Party figures like Elizabeth Warren, rather than a genuine concern for investor protection.

Moreover, the podcast explores the role of ETFs in reducing Bitcoin's volatility. The notion is that as ETFs become more prevalent, the automatic rebalancing by investors could dampen extreme price swings, thereby contributing to a more stable Bitcoin market.

Best Quotes

  1. "ETFs are like a solar system, essentially. As they get volume, as they get assets, it helps them to get more volume and get more assets." - James Seyffart
  2. "I think of [the Bitcoin ETF] as a bridge to the Bitcoin rail. It's the widest, most efficient bridge you can create between TradFi and Bitcoin." - James Seyffart
  3. "The SEC should trust the ETF industry and these traders who make up this industry more than they distrust the crypto and Bitcoin industry because they will clean things up." - James Seyffart
  4. "This [Bitcoin ETF] is a win for end retail investors. This is an efficient product, this is an efficient market, and this is a win." - James Seyffart
  5. "The less trading you do, the better off you are, because then you're just giving money to Wall Street, essentially." - James Seyffart

Conclusion

The recent podcast episode with James Seyffart serves as a testament to the transformative potential of Bitcoin ETFs within the financial market. Despite the initial skepticism and regulatory hurdles, these ETFs are carving out a space that not only facilitates Bitcoin exposure for traditional investors but also promises to reduce the asset's notorious volatility.

James's insights demystify the world of ETFs and underscore the importance of allowing the market to adapt and adopt new financial products. The conversation sheds light on the political dynamics that can affect financial innovation and the need for the industry to embrace efficiency and investor protection.

As the Bitcoin ETFs continue to evolve, it's clear that their impact will span beyond mere investment vehicles—they symbolize a step towards the normalization and integration of digital assets within the broader financial landscape. Whether as a "gateway drug" or a "wide bridge," Bitcoin ETFs are poised to play a pivotal role in shaping the future of investment and the mainstream acceptance of Bitcoin.

]]> <![CDATA[The Evolution of Bitcoin in Business: From Early Adoption to ETFs and Integration]]> Sat, 10 Feb 2024 13:00:47 GMT https://scrib-brugeman.npub.pro/post/https-tftc-iothe-evolution-of-bitcoin-in-business/ https://scrib-brugeman.npub.pro/post/https-tftc-iothe-evolution-of-bitcoin-in-business/ naddr1qq6ksar5wpen5te0w3n8gcewd9hj7argv5kk2an0d36hg6t0dckk7e3dvf5hgcm0d9hz66tw94382umfdejhxue0qgszsfr2amdk0jnmy5qukevqmspvky4s9j4va50h9xakr9wsv2cs3tgrqsqqqa2889nf09 Bitcoin naddr1qq6ksar5wpen5te0w3n8gcewd9hj7argv5kk2an0d36hg6t0dckk7e3dvf5hgcm0d9hz66tw94382umfdejhxue0qgszsfr2amdk0jnmy5qukevqmspvky4s9j4va50h9xakr9wsv2cs3tgrqsqqqa2889nf09 npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by Staff.

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Introduction

Bitcoin has come a long way since its inception, marking its journey from an experimental digital asset to a recognized investment vehicle and payment method. On this historic day, we reflect on the 15-year evolution of Bitcoin, from Hal Finney running a Bitcoin node to the approval of eleven Bitcoin ETFs.

Early Adoption and Technological Progress

Hal Finney's early adoption set the stage for Bitcoin's growth. Over the years, the quality of services surrounding Bitcoin has improved significantly. In its early days, custody solutions were rudimentary, but now, businesses have access to sophisticated services that make Bitcoin storage more secure and user-friendly.

Bitcoin ETFs and Mainstream Acceptance

The approval of Bitcoin ETFs signifies Bitcoin's entry into the mainstream financial world. ETFs provide a regulated and accessible way for investors to gain exposure to Bitcoin without the complexities of direct ownership and management of the asset.

Integration into Businesses

Integrating Bitcoin into business operations is now more viable than ever. Companies are adopting Bitcoin for various reasons, ranging from investment and savings to transactional purposes. The panelists, representing different facets of Bitcoin integration—payment, storage, and accounting—discuss the benefits and considerations for businesses adopting Bitcoin.

Why Now?

The current financial landscape, characterized by inflation and economic uncertainty, presents a compelling case for businesses to consider Bitcoin as both a store of value and a medium of exchange. The prevalence of Bitcoin ownership among consumers and its potential as an inflation hedge are driving factors for integration.

Challenges and Solutions

Businesses looking to integrate Bitcoin may face technical and operational challenges, such as managing price volatility and ensuring secure storage. However, advancements like the Lightning Network provide solutions for faster and more efficient transactions, mitigating some of these concerns.

Legal and Accounting Implications

Businesses must be diligent in record-keeping and accounting when dealing with Bitcoin transactions. Proper tracking and understanding the tax implications are crucial to staying compliant and making informed decisions regarding Bitcoin's role in business finances.

Customer Experience and Community

Accepting Bitcoin can enhance customer experience by providing a more secure and private payment option. Additionally, the sense of community among Bitcoin users can create a loyal customer base and differentiate a business within its industry.

Strategic Considerations

Businesses must consider their risk tolerance and long-term strategy when allocating a portion of their balance sheet to Bitcoin. It is advised to start with a manageable amount and gradually develop a deeper understanding of Bitcoin's market behavior and asset characteristics.

Conclusion

The incorporation of Bitcoin into business operations is not without its challenges, but with proper planning, risk management, and an understanding of the technological infrastructure, businesses can leverage Bitcoin to their advantage. This evolution from the early days of individual node operation to the widespread adoption of Bitcoin ETFs marks a significant milestone in Bitcoin's journey into the business world.

]]> This post was originally published on https://tftc.io by Staff.

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Introduction

Bitcoin has come a long way since its inception, marking its journey from an experimental digital asset to a recognized investment vehicle and payment method. On this historic day, we reflect on the 15-year evolution of Bitcoin, from Hal Finney running a Bitcoin node to the approval of eleven Bitcoin ETFs.

Early Adoption and Technological Progress

Hal Finney's early adoption set the stage for Bitcoin's growth. Over the years, the quality of services surrounding Bitcoin has improved significantly. In its early days, custody solutions were rudimentary, but now, businesses have access to sophisticated services that make Bitcoin storage more secure and user-friendly.

Bitcoin ETFs and Mainstream Acceptance

The approval of Bitcoin ETFs signifies Bitcoin's entry into the mainstream financial world. ETFs provide a regulated and accessible way for investors to gain exposure to Bitcoin without the complexities of direct ownership and management of the asset.

Integration into Businesses

Integrating Bitcoin into business operations is now more viable than ever. Companies are adopting Bitcoin for various reasons, ranging from investment and savings to transactional purposes. The panelists, representing different facets of Bitcoin integration—payment, storage, and accounting—discuss the benefits and considerations for businesses adopting Bitcoin.

Why Now?

The current financial landscape, characterized by inflation and economic uncertainty, presents a compelling case for businesses to consider Bitcoin as both a store of value and a medium of exchange. The prevalence of Bitcoin ownership among consumers and its potential as an inflation hedge are driving factors for integration.

Challenges and Solutions

Businesses looking to integrate Bitcoin may face technical and operational challenges, such as managing price volatility and ensuring secure storage. However, advancements like the Lightning Network provide solutions for faster and more efficient transactions, mitigating some of these concerns.

Legal and Accounting Implications

Businesses must be diligent in record-keeping and accounting when dealing with Bitcoin transactions. Proper tracking and understanding the tax implications are crucial to staying compliant and making informed decisions regarding Bitcoin's role in business finances.

Customer Experience and Community

Accepting Bitcoin can enhance customer experience by providing a more secure and private payment option. Additionally, the sense of community among Bitcoin users can create a loyal customer base and differentiate a business within its industry.

Strategic Considerations

Businesses must consider their risk tolerance and long-term strategy when allocating a portion of their balance sheet to Bitcoin. It is advised to start with a manageable amount and gradually develop a deeper understanding of Bitcoin's market behavior and asset characteristics.

Conclusion

The incorporation of Bitcoin into business operations is not without its challenges, but with proper planning, risk management, and an understanding of the technological infrastructure, businesses can leverage Bitcoin to their advantage. This evolution from the early days of individual node operation to the widespread adoption of Bitcoin ETFs marks a significant milestone in Bitcoin's journey into the business world.

]]> <![CDATA[A New Era For Bitcoin]]> Sat, 13 Jan 2024 22:07:31 GMT https://scrib-brugeman.npub.pro/post/https-tftc-ionew-era-for-bitcoin/ https://scrib-brugeman.npub.pro/post/https-tftc-ionew-era-for-bitcoin/ naddr1qqjxsar5wpen5te0w3n8gcewd9hj7mn9wukk2unp94nx7u3dvf5hgcm0d9hz7q3q9qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksxpqqqp65wxlqnex podcasts naddr1qqjxsar5wpen5te0w3n8gcewd9hj7mn9wukk2unp94nx7u3dvf5hgcm0d9hz7q3q9qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksxpqqqp65wxlqnex npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by Staff.

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Key Takeaways

The episode of the Stephan Livera Podcast with Tuur Demeester delves deep into the current landscape of Bitcoin and its potential watershed moment with the approval of a spot Bitcoin ETF. Stephan and Tuur explore the dichotomy of emotions surrounding Bitcoin adoption, particularly from a regulatory standpoint, and addresses both the excitement for mainstream access and the concerns regarding governmental control over centralized Bitcoin financial products.

[

The Bitcoin ETF Will Bring Noise With It | Marty Bent

Bitcoin’s purpose is much higher than increasing the net worth of those who hold it (or hold exposure to it). Bitcoin is freedom money and the siren calls of wealth and convenience are on their way to undermine the mission.

TFTC – Truth for the CommonerMarty Bent

](https://tftc.io/prepare-for-number-and-noise-to-go-up/)

The episode also touches upon the implications of Bitcoin ETF approval on Wall Street's involvement, the distribution power of financial advisors, and the consequential potential for an increase in Bitcoin's market cap. Furthermore, it discusses the risk of centralized control over Bitcoin holdings, particularly in times of crisis, where governments could seize assets.

Another critical point is the discussion on the importance of understanding the difference between owning actual Bitcoin versus products like Bitcoin ETFs. The episode emphasizes the lessons learned from past experiences, such as the fall of Mt. GOX, as part of the maturation process in the financial space.

Additionally, Livera and Demeester delve into the behavior of Bitcoin whales during market cycles, highlighting how their actions can signal different phases of the market. It also covers the importance of companies adopting a Bitcoin strategy to avoid becoming obsolete in an increasingly digital economy.

Best Quotes

  • "Bitcoin is happening all around them, and they're not robots. They don't want to be uncool. They don't want to be the one that stops innovation when everyone around them is like, hey, when are you gonna approve this?" This quote highlights the social and cultural pressure that regulators face when dealing with innovative technologies like Bitcoin.
  • "I do think that the public at large is not ready to understand all the consequences of this story... This is just another step of the maturation process." This quote emphasizes the ongoing educational journey the general public is on regarding Bitcoin and the broader financial implications of its adoption.
  • "If you can understand what the insiders are doing of any sector, any particular stock, any asset class, then you basically have an edge. Because they have an edge." This quote underscores the value in observing the actions of Bitcoin whales as a way to gain insight into market trends and cycles.
  • "It's an ocean of money that all of a sudden bitcoin has access to that bitcoin is being plugged into." This quote captures the immense potential for Bitcoin's growth as it gains access to the larger pools of traditional financial assets.
  • "Every company needs a bitcoin strategy, because every company needs to avoid extinction." This quote drives home the urgency for businesses to adapt and integrate Bitcoin into their strategies to remain relevant.

[

Zaprite: The Ultimate Bitcoin Payments Solution for Merchants

Merchants looking for a seamless way to accept bitcoin payments need not look further than Zaprite. This innovative platform offers an easy-to-use onboarding mechanism that integrates with both on-chain transactions and the Lightning Network, as well as other payment methods.

TFTC – Truth for the CommonerStaff

](https://tftc.io/zaprite-bitcoin-payments/)

Conclusion

Stephan and Tuur present a nuanced view of the current and future state of Bitcoin, particularly in the context of a potential spot Bitcoin ETF approval. It offers an in-depth analysis of the adoption challenges, regulatory concerns, and the evolution of Bitcoin's market presence. The episode captures the excitement for increased access and potential growth, while also cautioning listeners about the risks of centralized control and the importance of owning the actual asset versus derivatives.

It concludes with a reflection on the importance of Bitcoin in the broader context of technological and societal change, emphasizing its role as a lifeline and a catalyst for a new financial era. The episode ultimately conveys an overarching message of optimism for Bitcoin's future, while acknowledging the critical lessons and ongoing educational journey required for the public and institutions alike.

]]> This post was originally published on https://tftc.io by Staff.

Read original post

Key Takeaways

The episode of the Stephan Livera Podcast with Tuur Demeester delves deep into the current landscape of Bitcoin and its potential watershed moment with the approval of a spot Bitcoin ETF. Stephan and Tuur explore the dichotomy of emotions surrounding Bitcoin adoption, particularly from a regulatory standpoint, and addresses both the excitement for mainstream access and the concerns regarding governmental control over centralized Bitcoin financial products.

[

The Bitcoin ETF Will Bring Noise With It | Marty Bent

Bitcoin’s purpose is much higher than increasing the net worth of those who hold it (or hold exposure to it). Bitcoin is freedom money and the siren calls of wealth and convenience are on their way to undermine the mission.

TFTC – Truth for the CommonerMarty Bent

](https://tftc.io/prepare-for-number-and-noise-to-go-up/)

The episode also touches upon the implications of Bitcoin ETF approval on Wall Street's involvement, the distribution power of financial advisors, and the consequential potential for an increase in Bitcoin's market cap. Furthermore, it discusses the risk of centralized control over Bitcoin holdings, particularly in times of crisis, where governments could seize assets.

Another critical point is the discussion on the importance of understanding the difference between owning actual Bitcoin versus products like Bitcoin ETFs. The episode emphasizes the lessons learned from past experiences, such as the fall of Mt. GOX, as part of the maturation process in the financial space.

Additionally, Livera and Demeester delve into the behavior of Bitcoin whales during market cycles, highlighting how their actions can signal different phases of the market. It also covers the importance of companies adopting a Bitcoin strategy to avoid becoming obsolete in an increasingly digital economy.

Best Quotes

  • "Bitcoin is happening all around them, and they're not robots. They don't want to be uncool. They don't want to be the one that stops innovation when everyone around them is like, hey, when are you gonna approve this?" This quote highlights the social and cultural pressure that regulators face when dealing with innovative technologies like Bitcoin.
  • "I do think that the public at large is not ready to understand all the consequences of this story... This is just another step of the maturation process." This quote emphasizes the ongoing educational journey the general public is on regarding Bitcoin and the broader financial implications of its adoption.
  • "If you can understand what the insiders are doing of any sector, any particular stock, any asset class, then you basically have an edge. Because they have an edge." This quote underscores the value in observing the actions of Bitcoin whales as a way to gain insight into market trends and cycles.
  • "It's an ocean of money that all of a sudden bitcoin has access to that bitcoin is being plugged into." This quote captures the immense potential for Bitcoin's growth as it gains access to the larger pools of traditional financial assets.
  • "Every company needs a bitcoin strategy, because every company needs to avoid extinction." This quote drives home the urgency for businesses to adapt and integrate Bitcoin into their strategies to remain relevant.

[

Zaprite: The Ultimate Bitcoin Payments Solution for Merchants

Merchants looking for a seamless way to accept bitcoin payments need not look further than Zaprite. This innovative platform offers an easy-to-use onboarding mechanism that integrates with both on-chain transactions and the Lightning Network, as well as other payment methods.

TFTC – Truth for the CommonerStaff

](https://tftc.io/zaprite-bitcoin-payments/)

Conclusion

Stephan and Tuur present a nuanced view of the current and future state of Bitcoin, particularly in the context of a potential spot Bitcoin ETF approval. It offers an in-depth analysis of the adoption challenges, regulatory concerns, and the evolution of Bitcoin's market presence. The episode captures the excitement for increased access and potential growth, while also cautioning listeners about the risks of centralized control and the importance of owning the actual asset versus derivatives.

It concludes with a reflection on the importance of Bitcoin in the broader context of technological and societal change, emphasizing its role as a lifeline and a catalyst for a new financial era. The episode ultimately conveys an overarching message of optimism for Bitcoin's future, while acknowledging the critical lessons and ongoing educational journey required for the public and institutions alike.

]]> <![CDATA[Are Bitcoin Mining Stocks Dead? Bitcoin ETF Launch Livestream]]> Fri, 12 Jan 2024 03:43:25 GMT https://scrib-brugeman.npub.pro/post/https-tftc-ioare-bitcoin-mining-stocks-dead-bitcoin-etf-launch-livestream/ https://scrib-brugeman.npub.pro/post/https-tftc-ioare-bitcoin-mining-stocks-dead-bitcoin-etf-launch-livestream/ naddr1qpxksar5wpen5te0w3n8gcewd9hj7ctjv5kky6t5vdhkjm3dd45ku6twvukhxar0vd4hxttyv4skgttzd96xxmmfdckk2arx94kxzatwvd5z6mrfwejhxarjv4sk6tczyq5zg6hwmdnu57e9q89ktqxuqt939vpv4t8draefhdset5rzkyy26qcyqqq823cyg0yzv The Mining Pod naddr1qpxksar5wpen5te0w3n8gcewd9hj7ctjv5kky6t5vdhkjm3dd45ku6twvukhxar0vd4hxttyv4skgttzd96xxmmfdckk2arx94kxzatwvd5z6mrfwejhxarjv4sk6tczyq5zg6hwmdnu57e9q89ktqxuqt939vpv4t8draefhdset5rzkyy26qcyqqq823cyg0yzv npub19qjx4mkmvl98kfgpedjcphqzevftqt92emglw2dmvx2aqc43pzksn4zc3g This post was originally published on https://tftc.io by William Foxley.

Read original post

Bitcoin mining stocks took a nose dive after the launch of the Bitcoin ETFs yesterday. We jumped on a livestream as the market closed to speculate on why mining stocks tumbled and first takes on Bitcoin’s big tradfi day.

Please subscribe to our newsletter: Blockspace.media

Questions or want to sponsor? william@blockspace.media.

Watch & Listen:

]]> This post was originally published on https://tftc.io by William Foxley.

Read original post

Bitcoin mining stocks took a nose dive after the launch of the Bitcoin ETFs yesterday. We jumped on a livestream as the market closed to speculate on why mining stocks tumbled and first takes on Bitcoin’s big tradfi day.

Please subscribe to our newsletter: Blockspace.media

Questions or want to sponsor? william@blockspace.media.

Watch & Listen:

]]>