Gold isn't much stable but can be volatile and I guess traders make some profit out of its volatility. However ,BTcC is more volatile compare to Gold , but why is Btc still preferred over Gold .
In my view, I believe most people store their assets as Gold because Gold is less volatile compared to BTC
I think Gold is just to store and maintain the value of assets freed from inflation and not what you're thinking. Moreover, the value of BTC is based on its usefulness as a medium of exchange and its scarcity. The present generation actually preferred BTC over Gold despite its higher volatility because BTC is much more liquid than gold meaning that it's easier to buy and sell. Again, BTC is much easier to store and transport than gold since it's a digital asset. Majority of us believe that BTC is a better store of value than gold because it has a fixed supply and is less influenced by politics or central banks. Gold seems to be outdated. Exactly, in the case put by the first few posters over the last 12 years Gold has risen in value by .... $61 thats not volatility, it moves 1% or a fraction of it at a time thats exactly why Gold has been so popular by the super wealthy, its perfect for storing wealth particularly in times of high inflation and dilution of FIAT currencies without the big risk. The image in the OP is a perfect visual for us who want to convince our friends that actually there is a better vehicle to use than Gold, its Bitcoin. Two people I know whom I have talked to in the past have all spent their money on Gold, cant wait to show them this visual image. |
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All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the
largest asset management company in the world!
And most people expect the SEC to agree and on the other hand also compare the performance of the financial industry in the past and the results BTC shows that this will be the safest and smartest investment in the future and the way is to buy bitcoin itself. Bitcoin is basically a form of currency like USD and EUR, only it doesn't have a physical form and is instead stored online on a computer. BTW, we'll see in January 2024 whether it will be accepted or there will be another delay by the SEC like before. There are many differences between bitcoin and EUR and USD. Besides the tangible and intangible differences, bitcoin is a decentralized currency, with a limited supply...it is completely different from the fiat money that governments are creating. Furthermore, bitcoin is considered an asset rather than a currency so I think it is more appropriate to compare it with gold or other financial markets than with USD and EUR. Basically, there are already many bitcoin ETFs in other countries but people are still waiting for an ETF from the SEC because the US is the largest financial market as well as the world financial center. I believe the SEC will have to approve ETFs but they need a better time to make that declaration and the best time could be the Bitcoin halving event. Well this move by the Hong Kong regulators for a spot ETF might just prompt an earlier than expected approval of the queue of spot ETF's by the SEC? Hong Kong is still Asia's largest financial centre to maybe the SEC might feel that HK poses a threat and potentially a lot of investors would migrate to a HK based spot Bitcoin ETF, is that a viable argument I wonder? |
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However, there is something mentioned in the article that implies that spot ETFs might not be as bullish as we might expect. It is mentioned that the take up on futures ETF in Hong Kong has only been modest.
In other countries, do not expect bitcoin to be bullish if their SEC approve spot bitcoin ETF, but in United States, expect the market to be bullish as we expect becuase it will first start from people fomo and also US have more than half of the worlds share of traditional market. There are many spot etfs in many countries already this is nothing new. I think somewhere in Europe there was a bitcoin etf from maybe 5 years back.
The first was in two years ago but listed this year. So the first bitcoin spot ETF in Europe was this year. Also this is about bitcoin spot ETF in Hong Kong. Yes there was one in Europe announced last year and listed in August gone without any big fanfare or craze, it was the Jacobi FT Wilshire Bitcoin ETF from this report. https://gfmag.com/technology/europe-makes-first-spot-bitcoin-etf-available-to-trade/#:~:text=The%20Euronext%20Amsterdam%20stock%20exchange,ETF)%20in%20mid-August. I suspect the Spot Bitcoin ETF in Hong Kong will end up being something similar, it will end up going relatively unnoticed. All eyes are really on the Blackrock Spot Bitcoin ETF purely because Blackrock are the largest asset management company in the world! |
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I do not use it for cross border transactions cause those I regularly transact with are not exactly excited about the prospects of bitcoin and refuse to use it, even for the singular purpose of receiving.
On a more general perspective, Bitcoin is cheaper and faster than other cross border channels for money transfer. For everyday expenses the transaction fee can be a burden ads it is now, but for larger transactions to farther distances it is the ideal option to use, showing that bitcoin can be scalable depending on how it is used.
This feature is not limited to low and middle income countries. Anyone who engages in international transactions will appreciate using bitcoin as the channel.
- Jay -
Thats a good point about people who are receiving Bitcoin from overseas, they might not want to get involved with it either because of fear of the learning curve or not understanding the process involved. I can understand though how people would want to use the most economic way of sending money across borders to a low to middle income country, every percent saved makes a difference and Bitcoin can make that difference according to some of the numbers in the OP's report. |
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Watching Djokovic v Rune, a very entertaining match so far. Djokovic won the opening set on a tie-breaker 7:6, lost the second one (again a tie break) 6:7 and third set is now under way 2:2. Djokovic made an early break but got broken by Rune a bit later. He then destroyed two(!!!) of his rackets crushing them with his foot!  With that win yesterday Djokovic has retained his #1 ATP position meaning he cannot lose it this year and is #1 for the 8th time. It kind of feels like he relishes in records now, he has done everything else now, except the Calendar Grand Slam. On breaking the rackets he said in his press conference that he wasnt happy that he did it but he also said he wanted to win this first match to secure the year end #1, so the pressure was on for him. |
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Personally, I have FIAT now but I'm holding out for the "correction" - so yea I'm waiting for the
"Buy the Dip, and HODL" moment.
You've already had a million and one opportunity to buy during correction, so why wait now? You think next correction would be any different from correction we had before? Come one man, dont be so greedy. Take some of your holding and make a test purchase. You wont lose much, and would have tested the market. Who knows, maybe today is the best time to jump in and you would thank me in half a year. Ah dont worry what FIAT remains is only after what Bitcoin I have bought! I have been buying Bitcoin regularly, Last price point when I bought was at $33250 but I'm holding off with a few purchases until as I said we get a correction. When it doesn’t hit the target you set for it due to the volatile nature of the market and the bull market already over, it is good to sell them off and get the profit already accumulated. Waiting for the bull run to come when it seems unlikely to come at that time again is just like gambling and if you gamble your money, you’ll end up losing more money and get little or no profit for all the wait over the years.
You are trying to suggest that you are not gambling becuae you happen to know when the top is going to be and when the bottom is going to be. That is close to crazy in terms of the distinction that you are trying to make when guys are screwing around with their whole holdings. I can maybe see once you have reached or exceeded your target then maybe you sell a certain percentage? perhaps 10% to 25%? but still that would be risky because if you are just barely at your target, then as soon as you sell, you are going to be 10% to 25% below your target and you won't have the BTC anymore. Can you see how some of the longer term HODLers are thinking about this differently? It seems strange to believe that you are trying to reach your target in order that you can sell everything, yet for me it does not seem strange to believe that once you reach your target, then you go into another kind of a phase in which you have more flexibility, and maybe you are not so focused on ONLY accumulating BTC but you are also focused on ways to maintain your stash, perhaps within a kind of system and/or guidelines. It seems that one thing that you (Asiska02) seem to be assuming, which is different from me, is that you go from the accumulation phase to the liquidation phase and you are completely skipping the maintenance stage in the middle.. so for each of the stages, there are early, middle and late stages, so each stage is going to have some differing perspectives from each other, but they still might contain some elements of the other stages, depending on where you are at. Of course, you (Asiska02) are free to go straight from BTC accumulation stage to liquidation stage, but it seems to me that you will end up losing a lot of the value and benefits of maintaining a decently-sized stash of BTC that you had worked up to accumulating and the many options that likely come from maintaining it rather than merely selling it all for worthless fiat or where-ever else you were considering putting your value. Thats a great way of putting it, someone who works their ass off to accumulate such a rare thing as Bitcoin only to sell everything for FIAT in the hopes that they will be able to buy it all back at a cheaper rate. Well the way things could go with these Spot ETF's there may not be buying any cheap coins! Way too much of a gamble |
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Yes, I've always heard good things about Connacht so I thought I'd go with them. I'll have to be more mindful of Edinburgh as the weeks go on.
... Ah well, Maybe next week.
Yea they are getting better and better, they have 2 players on the 1st national team, sometimes 3. They won the Pro14 which was the competition before the URC in 2016, one of only a handful of teams to win it. It was dominated primarily by Leinster and Munster of Ireland with the Ospreys and Scarlets regular winners and Glasgow Wariors winning it once also. Last nights match they made too many errors and gave away too many penalties. Todays match between Dragons and Leinster went as expected and as per your bet Dragons 10 - 33 Leinster |
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Great win by Jannik, strong performance.
Medvedev v Rune up next.
Tomorrow there are the next matches, Alcaraz v Zverev with Alcaraz obvious favourite
@ 1.47 v's 2.45 for Zverev. Only thing is Alcaraz hasnt exactly been on his game in
a last few weeks, I recon thats why Zverev's odds are lower.
Medvedev v Rublev, Medvedev favourite @ 1.50 and Rublev at 2.60, I think I'll go with
the two favourites.
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Ah I wouldnt have gone with the Ospreys, Glasgow Warriors are a stronger team and
they won 23-31.
I watched the Edinburgh v Connacht match last night, Edinburgh were very strong in
the first half but Connacht were able to defend well, second half as usual Connacht
can back into it and with over 1 minute to go it was 22-22.
JJ Hanrahan kicked the ball out thinking the clock was in the red but he was over a
minute too early which gave Edinburgh time for the line out on the 10 metre line
and the resulting drop goal to win 25-22.
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Yes I will go for both Sinner and Djokovic. Sinner in particular will be seriously focussed on these finals, he is favourite today @ 1.37 to 3.1 for Tsitsipas who has had IMO a mediocre year with as above a lot of inconsistency. Sinner on the other hand has had an improved year. I guess everything will depend on his physical form, mood, his dad and probably 100 other factors.  Thats it, all players have a few different variables to their game, Tsitsipas seems to have one or two more to contend with, which cannot be good. Djokovic has to be favourite to win the title outright and is favourite @ 2.4. |
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Semi finals over at Metz Paris its a chance for lesser ranked players on the ATP tour
to win a tournament.
Surprisingly Fognini beat Sonego yesterday and plays Humbert today. Humbert seeded 4
is favourite @ 1.23 but TBH I wouldnt be surprised if Fognini pulls off another win @ 4.3,
could be worth a bet!
Shevchenko plays Herbert of France, this could go either way, Shevchenko favourite @ 1.45
Fognini is in the last stages of his career and is having a great week. However, Humbert is playing at home and has played some good matches in this tournament. Humbert will want to take this opportunity to break into the top 20 before the new season. Herbert, who is far from his old self in singles tennis, had a good week and lost only one set until the semifinals. Shevchenko, on the other hand, pulled off one of the big surprises with his performance against Khachanov and will go into his match against Herbert as a slight favorite. However, I think the crowd will be on Herbert's side and that could give the veteran a boost. Yea without taking anything away from Fognini his performance was kind of amplified by the fact that a lot of the top players were not playing, but he still had to put in quality performances! Fognini is in the last stages of his career and is having a great week. However, Humbert is playing at home and has played some good matches in this tournament. Humbert will want to take this opportunity to break into the top 20 before the new season.
Herbert, who is far from his old self in singles tennis, had a good week and lost only one set until the semifinals. Shevchenko, on the other hand, pulled off one of the big surprises with his performance against Khachanov and will go into his match against Herbert as a slight favorite. However, I think the crowd will be on Herbert's side and that could give the veteran a boost.
Humbert is in really good form at the moment and playing at home is an advantage. He performed well in the second half of this year, but he never got further than the semi-finals. In contrast that Fognini reaching the semi-finals is surprising. But it shows that, despite his age, he can still play for a few more years if he is physically and mentally on top. Humbert is the favourite in this match. But it will not be an easy game for him and it remains to be seen who will reach the final. Humbert got the job done in two sets and well done to his tournament win, he deserves it actually in recognition of his performances over the last few months. |
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Where is the book now? Is it finished?
Perhaps it would be best for the book to be returned to aoluain so that he can make a decision as to what becomes of the book and we can have a side discussion thread to make suggestions as to the book's fate.
Ah Timelord there isnt any point in sending it back to me from the U.S, I might have to send it back there myself anyway depending on who wins it! snip
I have book. Just putting finishing touches on my picture. I will mail to geo on Monday. I think there are 3 or 4 more pages to be colored. It looks great. Finished product will be spectacular. I may post my picture on monday Great news Dane! Looking forward to seeing your page if you do decide to post, but of course there is no pressure to do so. |
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Everyone who participated incurred a cost of postage and I dont think anyone expects
compensation for that. I just thought a raffle with paid tickets would be a nice gesture
to the participants to have the proceeds divided equally between them.
I guess when money is involved things get complicated.
Whoever owns the book eventually gets to show it off if they like, they can sell it too.
I just wanted to do something different for the collectibles board and create a community
project around MY first BTC project.
The idea of privacy was to protect each artists work while the project was live, you could
always share your own work but not other participants work!
So where are we at now, I guess Cryptogreatdane still gas the book?
apologies for not coming back to this thread sooner
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-snip-
So maybe one day a better version of bitcoin, that we have not imagined today, can be created, to put bitcoin in second place or even put it in the level to compete with altcoins. We're just analysing future events that can happen in the crypto space, but unarguably for no was we have said before bitcoin remains the cryptocurrency to beat.
Competition is good for crypto coins, so that developers can go to work on how to unseat bitcoin, it's all about innovation.
Even Bitcoin is 14 years old and since the beginning of Bitcoin there have been many other platforms that have tried to displace Bitcoin, but in the end, they will only be defeated by the power of the community and they cannot match what Bitcoin has. There are more versions of Bitcoin that have emerged since its inception, but they have not made Bitcoin lose or even be eliminated. Perhaps the strongest to date is BCH, but BCH is also a derivative of Bitcoin, so what does it want to prove that it is better than Bitcoin? snip Thats one of the strong components of Bitcoin - community and the consensus which goes with it. So in order to beat Bitcoin a new project has to come up with something which is securer than Bitcoin, is open source, decentralised and has the backing of firstly: Miners, Node runners and finally the acceptance of those who are willing to accept its protocol and then to ditch Bitcoin which is PROVEN to have all the above for something which may or may not work. Bitcoin has history, has never been broken/hacked/successfully attacked. |
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.
.
So if we look at our current situation, we had a low of $15,479 in November 2022, and so the BTC price has been moving up ever since then with several corrections along the way, and yeah, the mere fact that we went from the most recent local low of $24,920 in early September to our current high of $37,978,
.
.
Considering the current market price compared with the Lowest low of this run which is around 15K and the Highest high which we are now, we haven't even crossed the quarter region to its next ATH. So anyone who wants to buy Bitcoin for the long term still has time to buy at the discounted price but the price can move either way in short term and its always been the case so focusing on its long-term pattern will give better clarity for anyone who looks at what price to invest/buy bitcoin. I agree that its still early in the -bull run- to buy now and look to the future to make profits if thats the goal but after the surge up to todays market price of over $37,000 I would say that there are a good few people holding out now for "the Dip" because inevitably it will happen eventhough the sentiment ATM is that it could rise further . . . abd keep going! Personally, I have FIAT now but I'm holding out for the "correction" - so yea I'm waiting for the "Buy the Dip, and HODL" moment. |
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Semi finals over at Metz Paris its a chance for lesser ranked players on the ATP tour
to win a tournament.
Surprisingly Fognini beat Sonego yesterday and plays Humbert today. Humbert seeded 4
is favourite @ 1.23 but TBH I wouldnt be surprised if Fognini pulls off another win @ 4.3,
could be worth a bet!
Shevchenko plays Herbert of France, this could go either way, Shevchenko favourite @ 1.45
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They were some odds!
Round 4 of the URC kick off tomorrow. The second match will be a hum dinger, Ulster v Munster,
two Irish teams again. Ulster will be out for a win after narrowly missing out to Connacht last
weekend. I think it will be close again and I cant get Rollbit loaded to check the odds.
On Connacht, they play away to Edinburgh, it will be a tough one and hopefully they can retain
their no 1 spot.
More tournaments this weekend::::
Gallagher Premiership - R5
Top 14 Rugby - R6
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I think everyone here would love to see another masterpiece from 1dq. I remember
when all your works were released, except the Cryptoglyphs i might have been away from
the forum at that stage. I wish you well for your future art endeavour and hope the auctions
go well which I'm sure they will given they are original pieces 👍.
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