AlcoHoDL
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Activity: 2366
Merit: 4181
Addicted to HoDLing!
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February 22, 2021, 02:48:20 PM |
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The big players know their stuff...
Weak hands drop like flies ants!
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"With e-currency based on cryptographic proof, without the need to
trust a third party middleman, money can be secure and transactions
effortless." -- Satoshi
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Torque
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Activity: 3556
Merit: 5041
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February 22, 2021, 02:48:48 PM |
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It's always comforting to know that this market can panic sell 8-10% just by someone moving some coins around.  Btw, this is bullish.  |
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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February 22, 2021, 02:49:01 PM |
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Grayscale, for one, is not selling any of the corn the trusts buy. There simply is no mechanism for it. The shares of GBTC can indeed be traded, bought, or sold. The underlying will forever be held by the trust, never to be sold out into the open market.
True today, not really sure they will never be able to buy back any of their shares and thus sell the underlying Bitcoins. Even if anyone else can buy back the shares, there is supposedly no mechanism to sell the underlying Bitcoins. They will hold it forever unless something in the trust changes. This is unlike the ETFs, where they can buy or sell the underlying.. BTCC has more than 6000 corns now. |
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suchmoon
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Activity: 3654
Merit: 8922
https://bpip.org
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February 22, 2021, 02:53:07 PM |
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Yesterday: €48k. Just now: €39k. Even though 20% drops happen a lot, it always feels bad  Any reason for this, or just the regular stop loss triggering? It's called a buying opportunity and you're supposed to feel good about it. |
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fillippone
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Activity: 2156
Merit: 15488
Fully fledged Merit Cycler - Golden Feather 22-23
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February 22, 2021, 02:59:01 PM Merited by JayJuanGee (1) |
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Grayscale, for one, is not selling any of the corn the trusts buy. There simply is no mechanism for it. The shares of GBTC can indeed be traded, bought, or sold. The underlying will forever be held by the trust, never to be sold out into the open market.
True today, not really sure they will never be able to buy back any of their shares and thus sell the underlying Bitcoins. Even if anyone else can buy back the shares, there is supposedly no mechanism to sell the underlying Bitcoins. They will hold it forever unless something in the trust changes.
Even if anyone else can buy back the shares, there is supposedly no mechanism to sell the underlying Bitcoins. They will hold it forever unless something in the trust changes.
What I meant is that now they currently don't buy back the shares. There is a secondary market completely independent from Grayscale, where a price is formed following demand and offer laws. In the case there is huge selling pressure on GBTC shares, maybe because an ETF is launched in the US, Grayscale would be obliged to buy back some shares, not to let the premium running down too negative. If Grayscale (not anyone else) buys back some shares, then they have to sell some BTC. We discussed it hereThis is unlike the ETFs, where they can buy or sell the underlying.. BTCC has more than 6000 corns now.
Correct. Yesterday: €48k. Just now: €39k. Even though 20% drops happen a lot, it always feels bad Any reason for this, or just the regular stop loss triggering? It's called a buying opportunity and you're supposed to feel good about it. I guess it's some of the usual F2Pool FUD. F2Pool outflow of 3,633 $BTC may be a factor in this dip. Largest outflow so far this bullrun! #Bitcoin @cryptoquant_com  But yes, ultimately it's bargain time. S2F still in place. |
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LoyceV
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Activity: 3304
Merit: 16631
Thick-Skinned Gang Leader and Golden Feather 2021
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February 22, 2021, 03:12:04 PM |
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It's called a buying opportunity and you're supposed to feel good about it. I'm already more in BTC than I probably should be |
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Parazyd
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February 22, 2021, 03:13:35 PM |
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roosbit
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Activity: 891
Merit: 43
Random coins :)
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February 22, 2021, 03:20:55 PM
Last edit: November 15, 2023, 07:23:14 PM by roosbit |
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After being a scared cat for so long, you decide to buy some crypto at k56 just to fit in... now today you decide to look at your crypto portfolio and to show off but that dip on the charts makes you to start seeing things such as logo ressemblace to an empty wallet. jeez signal given, that cant be the future! Sometimes crypto teaches you to have a big heart, happy trading WO  |
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Parazyd
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February 22, 2021, 03:23:01 PM |
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After being a scared cat for so long, you decide to buy some crypto at k56 just to fit in...
now today you decide to look at your crypto portfolio and to show off but that dip on the charts makes you to start seeing things such as.
Sometimes crypto teaches you to have a big heart, happy trading WO
Stay strong |
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JimboToronto
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Activity: 4004
Merit: 4482
You're never too old to think young.
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February 22, 2021, 03:37:36 PM |
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After being a scared cat for so long, you decide to buy some crypto at k56 just to fit in...
now today you decide to look at your crypto portfolio and to show off but that dip on the charts makes you to start seeing things such as logo ressemblace to an empty wallet. jeez signal given, that cant be the future!
Sometimes crypto teaches you to have a big heart, happy trading WO
What's this "crypto" crap. It's not about "crypto". It's about Bitcoin. It's also not about tarding. It's about hodling. <Batslap> |
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BitcoinBunny
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Activity: 1456
Merit: 2494
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February 22, 2021, 03:37:52 PM |
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Not a bad bounce so far. Keep going please.  |
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vapourminer
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Activity: 4326
Merit: 3536
what is this "brake pedal" you speak of?
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February 22, 2021, 03:45:37 PM |
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Who bought below 50K?  What a gift from the weak hand n00bs  had an old buy order at 49.9k that popped. just luck and laziness on my part as i dont redo my sell/buy points often. |
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Parazyd
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February 22, 2021, 03:47:18 PM |
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JohnnyUranus
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Activity: 130
Merit: 14
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February 22, 2021, 04:01:56 PM |
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Not a bad bounce so far. Keep going please. Wow, too bad I am out of merits, you got my last one for the "laser lady" pic  |
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sirazimuth
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Activity: 3360
Merit: 3499
born once atheist
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February 22, 2021, 04:10:15 PM |
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^The WOb wobbly woman.
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eddie13
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Activity: 2296
Merit: 2262
BTC or BUST
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February 22, 2021, 04:12:08 PM |
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I’m having a bit of a mental struggle..
How much should I be kicking myself in the ass for not accumulating more, VS how thankful am I for having accumulated what I have and for the most part held..
Thankful or regretful?
We've all been there (at least I have) Just count your blessings that even just by holding any BTC you're WAYYYY ahead of most people. I have a, modest, stash. I'd love more, but I'm definitely glad I have what I do And, of course, also, if you feel that you do not have enough, you can continue to DCA.. even if it is only $10 per week... though for fee purposes, it may be better to let your amount build up to something like $80 or $100 and then buy once you reach certain thresholds of value. We have all kinds of peeps who fail to pee pare their lil selfies adequately for UP.. and that is part of the rationale of ongoing DCA tactics.. but yeah, if you don't believe in BTC until it has actually gone up 5x or whatever, then you are less likely to be inspired to buy along the way.. because you don't fucking believe until you see the profits that you could have had, and that is a mental problem and a lack of actual preparing yourself rather than any other excuses... and maybe nothing is really going to cause you to "believe" absent another 20 years of bitcoin being in existence and perhaps seeing some profits within its price? Naw man.. I haven’t been holding coin for like 7 years because I don’t believe.. (sarcasm) I was calling for $10k in 2016, everyone thought I was crazy.. I’ve been calling this run $333k since probably 2019, and most everyone thought I was crazy.. It’s not even all about the profits man.. I haven’t been selling at all, unlike many here.. That’s about the biggest problem with this forum, and with this WO thread.. Most everyone is just all about the profits.. Y’all forgot all about the mission.. |
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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February 22, 2021, 04:12:37 PM |
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What I meant is that now they currently don't buy back the shares. There is a secondary market completely independent from Grayscale, where a price is formed following demand and offer laws. In the case there is huge selling pressure on GBTC shares, maybe because an ETF is launched in the US, Grayscale would be obliged to buy back some shares, not to let the premium running down too negative. If Grayscale (not anyone else) buys back some shares, then they have to sell some BTC. We discussed it hereI replied to that thread, but cross posting here. For the time being, the trust is not operating any redemption program. Subject to regulatory approvals and the Sponsor’s approval in its sole discretion, Grayscale Trust may reopen the redemption program in the future. Despite the said possibility, GBTC currently shows no intention of seeking regulatory approval for that.
Without a redemption program, GBTC essentially can only purchase Bitcoin but not sell it. The only scenario that GBTC sells Bitcoins is to cover trust fees and expenses.
So things can change in the future, but it looks unlikely. |
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lightfoot
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Activity: 3108
Merit: 2240
I fix broken miners. And make holes in teeth :-)
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February 22, 2021, 04:19:41 PM |
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If it dips more I will grab more PayPal btc.
Fine. I just set up the account. And I got tons of virtual confetti and some fake coins.... I feel cheap and degraded now. Because for the first time I don't have all of my keys. Hm. |
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Torque
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Activity: 3556
Merit: 5041
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February 22, 2021, 04:19:51 PM |
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Sorry, but some of you guys here talking about "institutional investors are selling" are still at the Mt. Stupid level of understanding.
Any large institutional investor that takes up a big long position in bitcoin:
1. Is not going to sell mere days, weeks, or months after doing so. They are in it for the long haul.... years.
2. Went through months of internal dialogue, planning, board decisions, and a fucking *mountain* of legal & regulatory hurdles, sessions, paperwork, fees & other costs, etc. just to take up said btc position. You really think after all of that, they're just going to turn around a few weeks or months later and YOLO dump everything on the open market? Really?
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