Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

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boy those ETFs were the juice bitcoin really needed eh (awful.systems)

submitted 10 months ago* (last edited 10 months ago) by [email protected] to c/[email protected]

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that drop was one hour after the latest billion tethers

the new narrative is apparently that the pump is in 90 days when financial advisors are finally ready to push bitcoin ETFs on their customers (for some reason)

ETFs put bitcoin on steroids!! y'know, asthmatic with shrunken balls

the bitcoin market is fake and in tethers, but the retail securities market is real and in dollars

my brother in Satoshi, you are the exit liquidity

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[–] [email protected] 4 points 10 months ago

Who knows? It’s a classic “buy the rumour, sell the news” stock story though, so there’s something about human psychology right there.

BTC shills are always pushing for the next big thing that will pull the mass buyers in. ETFs were going to be it this time around. I suspect a lot of people were holding onto BTC / not selling into the recent run-up in the hope they were right. If it turns out that there’s no demand there’s an awful lot of selling pressure out there: Miners are holding a lot of stock & the halving that will halve their income is only a few weeks away.