The Fidelity I guess is new. I am assuming it’s also not an ETF but it’s a trust since most likely a Bitcoin etf will never get approved.

This is not surprising since we will see more and more of these Bitcoin trust proposals in the near future. Will they approve it? Perhaps since it’s Blackrock and their products are almost always approved. Only 1 rejection out of 500 applications.

I didn’t think it was possible to arb the kimchi premium due to the capital controls by the country.

So you can sell your Bitcoin at a premium but how will you buy more Bitcoin? You can’t buy it on the same exchange because price is higher. You need to use the other exchanges but it’s difficult getting money out of the country. Hence why there is this premium. So I am surprised this has worked for you while it doesn’t work for others.

I heard that debank might actually have an airdrop. No idea why but it’s possible.

Basically you just need to use the site with your wallet and send tips to other addresses. You can also buy a domain that they are selling and it’s definitely going to get you points for the airdrop.

So there are some props if you are actually using the website daily.

Never heard of those mirrored securities. Where did you read this because mTWTR which is basically Twitter is obviously not trading anymore after Elon purchased it. So this is obviously outdated.

I am not surprised however that they deemed these mirror securities are prohibited since they need to be traded
On a regular broker to prevent certain personnel from never purchasing these securities like people from a sanctioned country.

Higher IQ doesn’t mean you will always make more money. I think the man with the highest IQ alive works somewhere making minimum wage.

There are also many dumb people out there who have a low IQ and they are millionaires. There is no correlation really. These days, being smart and getting good grades doesn’t always mean you will be wealthy.

This blackrock news is slightly bullish. Maybe when it’s actually approved we might get a rally but after the news came out the market barely moved. Then a few hours later there was a larger move and basically stalled right after.

Maybe if it’s approved and since it’s a spot etf, it might generate a rally because BTC would be taken off the market to supply the trust. However who knows when the decision will be made, could take many months.

I think many of these central banks are stumped why are prices still going up when borrowing money is so expensive these days. Been basically a year since they started to increase rates. At first it didn’t mean much because they were small but by the end of the year we had very high rates.

However the demand for everything is still up. People are traveling. Buying houses and cars. Earnings are great for many companies. Hence why they paused and will need to continue raising until there is demand destruction.

Turns out that blackrock doesn’t file these requests when they know it has a chance of being rejected. They apparently have like a 550 approvals and 1 rejection for all their etfs. So this means that this etf is going to be approved most likely.

Will it cause a rally? Well I think it will be a buy the rumor and sell the news event like before. When BTC futures were listed and when Bitcoin etf Bito was listed they all marked the top. I have a feeling this won’t be any different.

This was discussed many times in the past and the solution is not bigger blocks but L2 solutions like Lightning network.

You can’t have big blocks because the resources to run a node would be bigger and there would be less nodes.

Lightning is not very popular compared to L2 solutions for ETH but if you look at the amount of volumes of Arbitrum you can see how people rely on L2 when they do active transactions.

Yea this is true. It’s a lot harder to get a decent airdrop which can actually amount to something. Most of these new projects with airdrops go nowhere or they are complete scams to steal seeds or other info.

Years ago there was tons and tons of airdrops and you could make a good living just claiming them. These days you need to be very patient. Only decent ones coming out this year is Layer Zero and ZkSync. And the last good airdrop was Arbitrium which was a huge success.

The ZkSync has the best chance at having an airdrop but keep in mind it’s months away. And also the network is not cheap to interact.

Bridging is expensive and you need to bridge to both the zksync lite and zksync era networks. Also there are fees such as if you want to use Zksync Lite you need to pay to get the account activated to be able to send anything. And after a few times it adds up. The network is not cheap like Polygon.

Turns out this is not an ETF it’s a trust. Similar to GBTC and GLD. So it’s not exactly the same but for us users it doesn’t make a difference.

SEC has been rejecting these ETFs for years so why is this a big deal? Well because it’s BlackRock which is huge in the industry and they wouldn’t waste their time if they knew it wouldn’t have a chance at getting approved. Also since it’s a trust it has a better chance of getting approved.

One thing to keep in mind is this. Even though the index are rising doesn’t mean all stocks are rising. It’s mostly stocks like Nvidia, Apple, MSFT, ORCL, etc. Most are tech stocks. And most reasons are due to AI.

Bitcoin can’t really do anything AI related and hence why it’s not appreciating like the others. Plus there is also this mess with the SEC which is not helping. Also along with all the hacks that have happened this month. Hence why many are bearish on crypto at the moment.

The reason why they shouldn’t pause is because if you take Canada for example. They hiked very aggressively last year and paused in January. They paused because it looked like inflation was stopping from rising.

However a few months later inflation started to go back up and they had to do a surprise hike. This is why it’s important to not pause at the wrong time because all you are doing is prolonging the issue.

I think they should hike 2 more times and then see if inflation is finally beat.

Yeah it’s not good. I am bag holding this gem from like $0.90 or so.l really believed it was the OpenSea killer and would be around $5 long term. However the token unlocks are way too much for the market to bear in this time.

I think if blur was released in 2021-2022 it would be a different story but most new tokens all get sold off. Same with arb which was also suppose to be a huge hit.

I think tomorrow will be the 90 days when that bet was made. It’s crazy because it doesn’t feel like it’s only been 3
Months feels like it’s been a year since the bet was announced.

Basically the banks stopped failing and stock market is hitting yearly highs. Most stocks are hitting their ATH in the tech sector. Basically nobody has recession on their mind. If a recession hits it maybe sometime in 2024 and nobody is worrying about it yet.

However cryptos performance this week was very weak and not a good sign.

They paused but they said they would raise 2 more times before the end of the year. But the bond markets are saying otherwise. They don’t think they will hike and they are saying the fed will lead the US into a recession but the inverted yield curve is widening again like in March.

It means traders believe that the fed will lead the country into a deep recession and the yield curve will revert where the long dated bonds are priced higher than the short dated bonds. However we need more economic data like the employment numbers to see if this will happen.

Well it’s possible. There is just way too much regulation going on in the US that’s it’s possible it might start a sell off. However keep in mind that I am pretty sure there is nobody left to sell and bring price down to $16K again.

Weak hands already sold and those who bought at $20K won’t sell at $15K. With alts it’s different. With ETH I can see it happening if SEC says it’s a security but not with BTC.

I use twitter. When you create an account select what sources you are interested in such as business and finance and you will get a good feed. You can also follow some posters who are in the crypto scene.

There is also coin desk and coin telegraph which you can use but keep in mind it’s delayed. Twitter is usually pretty quick, usually in a few minutes you will know why something happens while a news report will take a few hours.

Yeah a recession is suppose to come but why is the stock market looking like it’s going to break ATHs soon. Todays inflation data showed almost no MoM gains.

Employment is still strong and we Still got supply issues with cars and houses. So using all this info it’s hard to tell exactly what will happen with crypto. Especially when Gary from SEC won’t stop attacking it.

I think we will trade sideways for most of the month and in the fall we will see a move.