Winklevoss COIN ETF to push price above 10,000

[riiiiising]

COIN will solve three major problems that are stopping most people from investing:

1.  It's hard to buy bitcoins.  You have to find an exchange, open an account, go through the verification nightmare, get money there, and then (depending on the exchange) buy a little bit at a time until the exchange decides to trust you.  It's 100 times harder than going online and buying any stock or mutual fund in your existing brokerage account.

2.  It's hard to store bitcoins.  You either have to trust it with an online exchange, which everyone says is unwise, or you practically need a computer science degree to figure out how to keep it some kind of cold storage.  The average Joe would be unwise to try this at home.

3.  It's extremely hard to invest retirement funds in it, which is the only investment funds many people have.  (You can do it by setting up an IRA LLC, but that's expensive in terms of money, effort, and time.  See https://bitcointalk.org/index.php?topic=396783.0 for details.)

Once COIN is approved, the average Joe can login to his retirement account and buy bitcoins with practically no effort.

I don't think that the approval of COIN will necessarily immediately launch Bitcoin to the moon, but it will make it much more likely to happen once some triggering event gets the ball rolling.

Of course, it's possible that the price will rise dramatically after the SEC announces that COIN is approved, but before anyone has a chance to actually buy it.  It might be worth setting up the IRA LLC and investing Roth IRA funds in bitcoins, where they can grow tax free, before that happens!

So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!

[mestar]

Where did you get those calculations from?

So, "If miners decide to sell all their mined Bitcoins, (or 50%)"  wasn't enough of a clue for you?


It is built in the Bitcoin design that in a steady state almost all of the mining rewards are spent on the electricity costs.  Until the point where you can pay your electricity costs in BTC, this money must pass trough the exchanges, which pushes the price down.

In other words, Bitcoin has built-in price brakes.  The higher the Bitcoin price is, the higher the downwards pressure becomes.

[jzcjca00]

So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!

Today, it is too hard to store and use.  Hardware wallets will change that.  Today, it is too hard to obtain.  That's gradually changing, too.  But if you wait until the infrastructure is fully in place, you miss the run up.

Who struck it rich by investing in Google?  Those who saw the promise from the beginning, or those who waited until it was fully functioning?  The rewards go to those who can see the potential of great new ideas early on!

[Morecoin Freeman]

COIN will solve three major problems that are stopping most people from investing:

1.  It's hard to buy bitcoins.  You have to find an exchange, open an account, go through the verification nightmare, get money there, and then (depending on the exchange) buy a little bit at a time until the exchange decides to trust you.  It's 100 times harder than going online and buying any stock or mutual fund in your existing brokerage account.

2.  It's hard to store bitcoins.  You either have to trust it with an online exchange, which everyone says is unwise, or you practically need a computer science degree to figure out how to keep it some kind of cold storage.  The average Joe would be unwise to try this at home.

3.  It's extremely hard to invest retirement funds in it, which is the only investment funds many people have.  (You can do it by setting up an IRA LLC, but that's expensive in terms of money, effort, and time.  See https://bitcointalk.org/index.php?topic=396783.0 for details.)

Once COIN is approved, the average Joe can login to his retirement account and buy bitcoins with practically no effort.

I don't think that the approval of COIN will necessarily immediately launch Bitcoin to the moon, but it will make it much more likely to happen once some triggering event gets the ball rolling.

Of course, it's possible that the price will rise dramatically after the SEC announces that COIN is approved, but before anyone has a chance to actually buy it.  It might be worth setting up the IRA LLC and investing Roth IRA funds in bitcoins, where they can grow tax free, before that happens!

So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!

Something about a learning curve and new developments making the process more easy over time.

Most new generations know how to use a personal computer, this wasn't always te case.

[minerpumpkin]

COIN will solve three major problems that are stopping most people from investing:

1.  It's hard to buy bitcoins.  You have to find an exchange, open an account, go through the verification nightmare, get money there, and then (depending on the exchange) buy a little bit at a time until the exchange decides to trust you.  It's 100 times harder than going online and buying any stock or mutual fund in your existing brokerage account.

2.  It's hard to store bitcoins.  You either have to trust it with an online exchange, which everyone says is unwise, or you practically need a computer science degree to figure out how to keep it some kind of cold storage.  The average Joe would be unwise to try this at home.

3.  It's extremely hard to invest retirement funds in it, which is the only investment funds many people have.  (You can do it by setting up an IRA LLC, but that's expensive in terms of money, effort, and time.  See https://bitcointalk.org/index.php?topic=396783.0 for details.)

Once COIN is approved, the average Joe can login to his retirement account and buy bitcoins with practically no effort.

I don't think that the approval of COIN will necessarily immediately launch Bitcoin to the moon, but it will make it much more likely to happen once some triggering event gets the ball rolling.

Of course, it's possible that the price will rise dramatically after the SEC announces that COIN is approved, but before anyone has a chance to actually buy it.  It might be worth setting up the IRA LLC and investing Roth IRA funds in bitcoins, where they can grow tax free, before that happens!

So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!

Something about a learning curve and new developments making the process more easy over time.

Most new generations know how to use a personal computer, this wasn't always te case.

On the other hand: Since technology becomes more and more ubiquitous and generally accepted, easier to use, etc. People aren't that into the core technologies anymore. They just use the technology. If the technology hasn't got a real use or appeal to the people, they won't use it "just 'cause it's cool"
(This isn't a bad thing in my books, but one should always remember that)

[Kipsy89]

I also believe the COIN ETF will be absolutely great for the price and market adoption. It's a great investment vehicle for people already active on the NASDAQ. SecondMarket is also great, but this will have an even bigger impact!

[stonerider]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

[cbeast]

So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!

Both of those are due to Bitcoin being subject to a regulatory double standard in the USA. Fortunately Bitcoin is growing outside the USA. If you want to read something brilliant, try to ready Lawsky's regulation recommendations. It should have you laughing in no time.

[Dilla]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

That's so 2014 brah.
I think the etf is the piece of news that everyone is waiting for, if it's approved, everyone will try to buy asap. If it's not, well, we keep going down further and further.

[brg444]

The ETF will make a fool out of everyone who argues we should focus on the technology and that the price does not matter.

Once it is made public it will be the hottest thing in tech/finance.

[Chef Ramsay]

The ETF will make a fool out of everyone who argues we should focus on the technology and that the price does not matter.

Once it is made public it will be the hottest thing in tech/finance.

I imagine there'll be a leak of some sort leading up to the official announcement and that alone will get the wheels turning especially if the price stays or hangs a little lower than what it is now. As it is, people are awaiting a perceived bottom and have stacks of paper chilling in preparation of reloading their portfolios at such a time. Then, toss in the ability for institutional investors to cast their large shadows even in a modest way and you'll have a mini-moon right out of the gate. Then Joe Sixpack hears from their one friend that has been telling them about bitcoin forever now and how this person is making serious money everyday during this time and they become frantic to get some of the action. Then the media kicks in and voila.

[crazy_rabbit]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

[brg444]

The ETF will make a fool out of everyone who argues we should focus on the technology and that the price does not matter.

Once it is made public it will be the hottest thing in tech/finance.

I imagine there'll be a leak of some sort leading up to the official announcement and that alone will get the wheels turning especially if the price stays or hangs a little lower than what it is now. As it is, people are awaiting a perceived bottom and have stacks of paper chilling in preparation of reloading their portfolios at such a time. Then, toss in the ability for institutional investors to cast their large shadows even in a modest way and you'll have a mini-moon right out of the gate. Then Joe Sixpack hears from their one friend that has been telling them about bitcoin forever now and how this person is making serious money everyday during this time and they become frantic to get some of the action. Then the media kicks in and voila.

Yep. This is going to be Bitcoin's "IPO".

Difference being anyone with a credit card can participate.

[brg444]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

[smoothie]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

Meet the concept of SHORTING. 

[brg444]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

Meet the concept of SHORTING. 

Much better pump + dump + short, repeat 2x.

[twiifm]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

Don't be surprised if its shorted to zero

[brg444]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

Don't be surprised if its shorted to zero

imagine the squeeze 

[cbeast]

The ETF will not cause the price to go above $10k. We will probably see a temporary uptick of 10%, if and when it's announced, but price will come down and may even see a huge downtrend when people realize that the ETF didn't cause the hoped-for moonshot to $10k.

At least it will make Bitcoin accessible to the market. Remember- even Amazon stock crashed to nearly $1 at one point. The stock market can tank something like bitcoin just as easily. And of course amazon is now worth a ton of money, so you can always come back from the edge....

Except there is no money to be made tanking something like Bitcoin at its current market cap.

They'll need to increase it at least an order of magnitude before they can play their games.

Don't be surprised if its shorted to zero

imagine the squeeze 

It's irrational to think in such extremes. Emotional trading is bad trading.

[Nagle]

As I've pointed out before, the Winkelvoss ETF is a dump. They bought a lot of Bitcoins, and now they want to cash out.  If they sold them on an exchange, the price would crash. The ETF is an attempt to get rid of those Bitcoins without crashing the price.

Wishful thinking never ends on here.