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Canis Lupus

Joined: 03/03/20


Comments by Canis Lupus
How To Spot Boom And Bust Cycles Mar 29, 2021 6:56PM ET
That's easy! If this guy's says we're going to boom, you better believe we'll bust. If he says we'll bust, you better buy the boom.
Bitcoin Mar 23, 2021 1:36AM ET
How do you observe that? You can actually see who's buying and selling?
Bitcoin Mar 22, 2021 7:05PM ET
 When it was at a premium, I waited until the premium was about 10% before I bought. I had noticed, at the time, 10% seemed like the lowest the premium had gotten in recent history. When it was at a premium, I waited until the premium was about 10% before I bought. I had noticed, at the time, 10% seemed like the lowest the premium had gotten in recent history.
Bitcoin Mar 22, 2021 7:03PM ET
 Yes, that is true, and it still tracks Bitcoin. The problem is, it is now inefficient. You can buy it for less than the actual underlying value, but it also means that as Bitcoin goes up, GBTC will gain less a percentage than their BTC holding. It also means that if their BTC holding loses value, GBTC will love more percentage wise. They have completion from global ETF's now with lower fees and less rules for institutions. Therefore institutions are leaving GBTC and going to the ETF's, which is causing it to trade at a discount. I believe there will be a USA ETF sooner than later, which will make GBTC's problem worse. So, I'd rather not use it unless they get a premium back, which I don't believe they will. At least not keep it if they do. Yes, that is true, and it still tracks Bitcoin. The problem is, it is now inefficient. You can buy it for less than the actual underlying value, but it also means that as Bitcoin goes up, GBTC will gain less a percentage than their BTC holding. It also means that if their BTC holding loses value, GBTC will love more percentage wise. They have completion from global ETF's now with lower fees and less rules for institutions. Therefore institutions are leaving GBTC and going to the ETF's, which is causing it to trade at a discount. I believe there will be a USA ETF sooner than later, which will make GBTC's problem worse. So, I'd rather not use it unless they get a premium back, which I don't believe they will. At least not keep it if they do.
Bitcoin Mar 22, 2021 6:42PM ET
 I was thinking the miners would be the best alternative. It looks like MARA and RIOT are the 2 big ones. I was thinking the miners would be the best alternative. It looks like MARA and RIOT are the 2 big ones.
Bitcoin Mar 22, 2021 6:41PM ET
 Yeah, that's why I'm asking now. I will eventually get back in, not sure when, but when I do I'd rather not go with GBTC unless they fix the discount. Yeah, that's why I'm asking now. I will eventually get back in, not sure when, but when I do I'd rather not go with GBTC unless they fix the discount.
Bitcoin Mar 22, 2021 6:13PM ET
Here is a quick question. What are you guys using to play Bitcoin without actually owning Bitcoin? I was in GBTC, but don't like that it's trading at a discount to BTC now. What else follows Bitcoin relatively well?
Bitcoin Mar 19, 2021 11:54PM ET
I'm out as well, but for different reasons. I think the risk/reward is not in my favor at the moment. A drop into the 40's and I'm all over it. Anyway, I think the yield is an over hyped phenomenon. But, regardless, it doesn't matter what I think. As long as the market believes it, then it is the truth. If Bitcoin really is a hedge against inflation, shouldn't Bitcoin be going up with the threat of impending inflation and increasing yields? Not down.
Nasdaq in Steep Drop as Tech Bulls Scatter on Rate Spike Mar 18, 2021 4:38PM ET
ahh I see we are fighting the Fed again. When will you learn?
S&P 500 Mar 17, 2021 4:25PM ET
I'm just wondering, who actually thought they would raise rates, or even suggest it to be done soon? What was a the fear about going into the meeting? Haven't you people learned by now?
Bitcoin Mar 16, 2021 2:57PM ET
I notice how some people only come out posting loud and clear when the price is going in the direction of their bias. But, when it proves them wrong, they quietly disappear and go back to hiding in the shadows.. lol
Bitcoin Mar 16, 2021 10:19AM ET
I bet if you go to Amazon you'll find a huge order increase over the last months for Technical Analysis for Dummies. Everyone read it, now they are spamming message boards everywhere with their new found expertise. lol
Bitcoin Invest Mar 15, 2021 9:55PM ET
I don't like it. I know they have authorized buying back $250 million worth of shares, which might be a good short term fix, but when will that happen? As of now, with a discount, not only will GBTC not go up relatively as much as Bitcoin, but if Bitcoin should decide to fall a good bit, GBTC will fall a good bit more!
NASDAQ Update: One More Chance For The Bulls? Mar 13, 2021 7:09PM ET
Why are you guys on an investing site if you think it's all a scam?
BTC/USD Mar 11, 2021 11:12PM ET
This place is funny. Egos run rabid here. Bulls and bears have their thoughts on what Bitcoin is and its legitimacy. Each insist they are correct and will defend their self-proclaimed righteousness to their death. All I know is that I can buy this at one price and sell it at a higher one to make a profit. Other than that, what else really matters?
Bitcoin Invest Mar 11, 2021 9:33PM ET
I don't know about that. I agree with what you're saying in the short term. They can tighten of the discount, and perhaps get a small premium temporarily. But, eventually the US will start having cryto ETF's. Once that happens the problem starts all over again. The best solution, I can see, is if they start their own ETF, then roll their trusts into that, if that's even possible. I'm not really smart enough to know a solution, but I can see this as being a chronic problem.
Argo Blockchain Mar 11, 2021 9:07AM ET
 I sold half my position. I'm on the fence about selling the other half. I'm definitely not adding at this point. I sold half my position. I'm on the fence about selling the other half. I'm definitely not adding at this point.
Bitcoin Invest Mar 11, 2021 8:52AM ET
Yes, that is my fear. They are doing a buyback to help fix it, but I see that as only a temporary fix. Now that the new SEC head has been voted in, the chances of a crypto ETF in the US go up. The more they pop up, the worse it will be for GTBC. The buyback may help in the short term, but in the long term I can see this becoming irrelevant. Unless they have some other trick up their sleeve.
Bitcoin Invest Mar 10, 2021 1:16PM ET
What do you think will happen to GBTC if Grayscale started the first ETF? Would/Could they roll all their assets from the trusts into the ETF? Would the shareholders here be merged into that, or would it be a different entity? I really have no clue, just wondering what you people think.
Argo Blockchain Mar 10, 2021 9:05AM ET
 Yes, I don't mean to sound negative, I'm just being realistic. They are grossly underperforming other miners recently while Bitcoin is in rally mode. I can only attribute that to the destruction of their share structure. If Bitcoin takes another break, it may note bode well for them. It may be a good long term investment, but I don't think right now is the time to buy. Yes, I don't mean to sound negative, I'm just being realistic. They are grossly underperforming other miners recently while Bitcoin is in rally mode. I can only attribute that to the destruction of their share structure. If Bitcoin takes another break, it may note bode well for them. It may be a good long term investment, but I don't think right now is the time to buy.
Bitcoin Mar 09, 2021 6:32PM ET
 Yes this place can be ridiculous. I find it entertaining as well. You say things to antagonize others and get those heated replies. If that is your objective, then I guess you win. lol Yes this place can be ridiculous. I find it entertaining as well. You say things to antagonize others and get those heated replies. If that is your objective, then I guess you win. lol
Argo Blockchain Mar 09, 2021 6:23PM ET
I thought it was interesting that Peter said he decided to exercise options based on his family's finances. Then a week, or so, later he decides to get his salary in Bitcoin. I'm all for the Bitcoin idea, but that leads me to believe your families financial situation is just fine without your salary. So, did you really exercise options because of family finances, or was it actually because you knew you would be diluting the share structure in a few weeks? They still haven't secured that credit line, so any big hiccups in the meantime and they may have to dilute again. Hopefully that won't happen, but its a possibility. Good thing they listed on the OTC and created a bigger ATM. I'll keep an eye on this, but I see no urgency to buy. Especially when there are so many other things that have the potential to make so much more in the short and long term, We shall see.
Bitcoin Mar 09, 2021 6:09PM ET
is that why you're so angry? A win is a win, don't be mad and let your ego destroy you.
Bitcoin Mar 09, 2021 3:03PM ET
Didn't it just have a correction when it hit 58k?
Argo Blockchain Mar 09, 2021 11:16AM ET
I got on Twitter to follow Argo and have watched Peter's videos. I appreciate the transparency, but realistically, why should I buy now and not wait until its under 3 USD or 217 GBX? I get it, long term blah blah blah, but otherwise, why should new money buy in now?