SEC approves bitcoin spot ETFs — what this means for crypto (
from to on 10 Jan 2024 23:56


threaded - newest on 11 Jan 2024 02:48 next collapse

If anyone here lives in a cave and missed this somehow: SEC twitter was hacked yesterday and tweeted a fake ETF approval tweet (edit: mentioned in the post I really should read before commenting but I’m sick so blargh).

This lead to a surprising amount of conspiratorial thinking including that:

  • An intern did it, despite the SEC saying they were compromised
  • They just oopsied and posted it a bit early, despite saying they were compromised
  • They did it themselves on purpose just to mess with bitcoiners or pump-and-dump or something
  • They did it themselves because twitter restored the account suspiciously fast.

With the actual approval everyone’ll probably move on. But bitcoiners are doomed to chronic dissatisfaction so they’ll probably find something new to hate the SEC for sooner or later. on 11 Jan 2024 07:08 collapse

I missed it and don’t live in a cave, unless you count Australia, which I guess isn’t not a cave on 11 Jan 2024 10:33 next collapse

Evidence for cave:

  1. Southern hemisphere is beneath northern hemisphere.
  2. Spiders
  3. Controversies around mining
  4. Somewhat close to ant-artica, the ant kingdom.
  5. The 1973 Mount Gambier cave diving accident

Evidence against cave:

  1. Kangaroos
  2. Sunshine
  3. "The outback"
  4. New Zealand is nearby??
  5. Koalas

It could go either way honestly. on 11 Jan 2024 13:25 next collapse

Australia, unlike Finland, exists, but is a cave. on 11 Jan 2024 14:25 collapse

It’s plato’s cave, we’re just living in it

(Probably a joke someone has tweeted already) on 11 Jan 2024 14:39 collapse

Additional evidence for cave:

  • many places are referred to as “holes”
  • many people are referred to as “moles”
  • Peter dutton looks like a cave troll/gollum
  • one of most internationally famous musicians is nick cave
  • coober pedy
  • very humid, like a cave
  • white english people, who have perfectly adapted to live in cave-like conditions, wanted to colonise it

Additional evidence against:

  • high real estate costs
  • hot
  • weather patterns on 11 Jan 2024 14:19 collapse

The cryptocurrency people I spoke to in .nl talked about this ETF as a holy grail, the moment of moon, in Dutch news this news was reported when it happened (deep in the night) and this morning wasn’t even on front page of the recent news site anymore. So do wonder if this will bring in more money into the crypto ecosystem (Sure it will drive the price up, or stop a crash, but that might not change the liquidity).

So yeah it is very much not a big news item.

E: scratch that, there is now an explainer about it, 15 hours later. on 11 Jan 2024 14:34 collapse

the dog that caught the parked car on 11 Jan 2024 14:58 collapse

We will have to see if this will cause the cars to buy more dogs in the future and not just increase the price of the one dog. on 11 Jan 2024 13:16 next collapse

Well that sucks, guess I was wrong in thinking it wouldn’t happen. on 11 Jan 2024 13:24 collapse

Apparently the SEC lost a legal challenge so had to allow ETFs. on 11 Jan 2024 14:16 collapse

Time to pressure Biden to write a law. Anybody have some way to pressure Biden? ;) on 11 Jan 2024 14:34 collapse

Wait till the bitcoin ETFs fuck up bad, basically on 11 Jan 2024 14:55 collapse

At least the USA isn’t a small country and not an important part of the global economy, and we punished all the fuckers who did the 2008 crisis and all the people from the panama papers (Wonder what the journalists who reported the papers are doing now. Oh (I’m not saying it is related, but wouldn’t be suprised). I get why people get into conspiracy theories). on 11 Jan 2024 16:24 collapse

The dissenting statement by SEC Commissioner Caroline Crenshaw is a banger:…/crenshaw-statement-spot-bitcoin-011023 Linked in the above article but definitely make sure to read it (but it’s also kind of depressing as heck)