How ETFs work and how JPMorgan can make money
Clip • Bitcoin Dad Pod • Episode 118: The Theme is Incentives
created a clip
7 Jan
How ETFs work and how JPMorgan can make money
Pre-Show
A personal account of living in Turkiye under soaring inflation (https://stacker.news/items/376570), many trends described here are also happening in the US and Europe
News
The financial incentives of bitcoin are no joke, as Blackrock Names JPMorgan as Authorized Participant for Spot Bitcoin ETF (https://news.bitcoin.com/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/)
Blackrock’s latest amended filing shows that it has named JPMorgan and Jane Street as the authorized participants for its spot bitcoin ETF. However, JPMorgan CEO Jamie Dimon recently said at a Senate hearing in reply to a question by Senator Elizabeth Warren (D-MA) that he would shut down cryptocurrency (https://news.bitcoin.com/jpmorgan-ceo-jamie-dimon-says-hed-close-crypto-down-if-he-were-the-government/) if he were the government, emphasizing that bitcoin and crypto are mainly used for criminal purposes.
+ Bitwise on X: "The findings are in. We surveyed 437 financial advisors across the nation to gauge their views on crypto assets. Here's what they had to say..." / X (https://twitter.com/BitwiseInvest/status/1742948461387866399)
SBF's political crimes trial is not going to happen (https://archive.is/xTVXX) likely due to the US Presidential election in 2024
Sam Bankman-Fried’s Political Donations: What We Know | TIME (https://time.com/6241262/sam-bankman-fried-political-donations/)
Interactive: Here are the politicians who received money from FTX's Sam Bankman-Fried - MarketWatch (https://www.marketwatch.com/story/here-are-the-politicians-who-received-money-from-ftxs-sam-bankman-fried-11670359945)
Sam Bankman-Fried will not face a second trial, U.S. prosecutors decide (https://www.foxbusiness.com/business-leaders/sam-bankman-fried-face-second-trial-u-s-prosecutors-decide)
Economics
Paying for oil in Indian Rupees is still unattractive (https://economictimes.indiatimes.com/industry/energy/oil-gas/no-takers-for-rupee-payment-for-oil-imports/articleshow/106255276.cms) as transaction costs are higher than paying in dollars
Lyn Alden's latest piece on divergence in US Monetary and Fiscal Policy (https://www.lynalden.com/january-2024-newsletter/) predicts government deficits driving monetary policy in the futre
cut + The US Congres has had multiple crypto bills (https://blockworks.co/news/congress-2023-midsession-update) but little movement and none likely in 2024
Privacy and Bitcoin Education
We've been seeing more questions about UTXO consolidation.
There are privacy ramifications and things to consider about UTXO consolidation.
Pre-ETF buy/sell could be a good time to address this.
Fees are "lower" right now.
Weekends also tend to be better.
The first recommendation is to check out a recent episode: Bitcoin Dad Pod Episode 116: Liquid Courage (https://bitcoindadpod.fireside.fm/116)
We do a bit of a primer in there and chat some solutions.
The second recommendation is to check out a very well-done multi-part series by Unchained Captial:
What is a bitcoin UTXO and why do they matter? - Unchained (https://unchained.com/blog/what-is-a-utxo-bitcoin/)
More UTXOs, more problems: High fees, signing failures, and how to avoid them - Unchained (https://unchained.com/blog/too-many-bitcoin-utxos/)
UTXOs, addresses, and CoinJoins: Preserving privacy in a bitcoin economy - Unchained (https://unchained.com/blog/bitcoin-utxo-privacy/)
Feedback
Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/)
Thank you Boosters
If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us!
Send a Boost via the Podcast Index web page. No Podcast app upgrade required.
Install Alby (https://getalby.com/)
Find the Bitcoin Dad Pod on the Podcast Index (https://podcastindex.org/podcast/5049889)
Boost right from the page!
Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com
Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Recomended Podcasting2.0 apps:
Fountain (https://www.fountain.fm/) podcast app (Android)
Podverse (https://podverse.fm/) (Cross platform and self hostable) + Alby (https://getalby.com/) for boosts
Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
A personal account of living in Turkiye under soaring inflation (https://stacker.news/items/376570), many trends described here are also happening in the US and Europe
News
The financial incentives of bitcoin are no joke, as Blackrock Names JPMorgan as Authorized Participant for Spot Bitcoin ETF (https://news.bitcoin.com/blackrock-names-jpmorgan-as-authorized-participant-for-spot-bitcoin-etf-despite-jamie-dimon-wanting-to-ban-crypto/)
Blackrock’s latest amended filing shows that it has named JPMorgan and Jane Street as the authorized participants for its spot bitcoin ETF. However, JPMorgan CEO Jamie Dimon recently said at a Senate hearing in reply to a question by Senator Elizabeth Warren (D-MA) that he would shut down cryptocurrency (https://news.bitcoin.com/jpmorgan-ceo-jamie-dimon-says-hed-close-crypto-down-if-he-were-the-government/) if he were the government, emphasizing that bitcoin and crypto are mainly used for criminal purposes.
+ Bitwise on X: "The findings are in. We surveyed 437 financial advisors across the nation to gauge their views on crypto assets. Here's what they had to say..." / X (https://twitter.com/BitwiseInvest/status/1742948461387866399)
SBF's political crimes trial is not going to happen (https://archive.is/xTVXX) likely due to the US Presidential election in 2024
Sam Bankman-Fried’s Political Donations: What We Know | TIME (https://time.com/6241262/sam-bankman-fried-political-donations/)
Interactive: Here are the politicians who received money from FTX's Sam Bankman-Fried - MarketWatch (https://www.marketwatch.com/story/here-are-the-politicians-who-received-money-from-ftxs-sam-bankman-fried-11670359945)
Sam Bankman-Fried will not face a second trial, U.S. prosecutors decide (https://www.foxbusiness.com/business-leaders/sam-bankman-fried-face-second-trial-u-s-prosecutors-decide)
Economics
Paying for oil in Indian Rupees is still unattractive (https://economictimes.indiatimes.com/industry/energy/oil-gas/no-takers-for-rupee-payment-for-oil-imports/articleshow/106255276.cms) as transaction costs are higher than paying in dollars
Lyn Alden's latest piece on divergence in US Monetary and Fiscal Policy (https://www.lynalden.com/january-2024-newsletter/) predicts government deficits driving monetary policy in the futre
cut + The US Congres has had multiple crypto bills (https://blockworks.co/news/congress-2023-midsession-update) but little movement and none likely in 2024
Privacy and Bitcoin Education
We've been seeing more questions about UTXO consolidation.
There are privacy ramifications and things to consider about UTXO consolidation.
Pre-ETF buy/sell could be a good time to address this.
Fees are "lower" right now.
Weekends also tend to be better.
The first recommendation is to check out a recent episode: Bitcoin Dad Pod Episode 116: Liquid Courage (https://bitcoindadpod.fireside.fm/116)
We do a bit of a primer in there and chat some solutions.
The second recommendation is to check out a very well-done multi-part series by Unchained Captial:
What is a bitcoin UTXO and why do they matter? - Unchained (https://unchained.com/blog/what-is-a-utxo-bitcoin/)
More UTXOs, more problems: High fees, signing failures, and how to avoid them - Unchained (https://unchained.com/blog/too-many-bitcoin-utxos/)
UTXOs, addresses, and CoinJoins: Preserving privacy in a bitcoin economy - Unchained (https://unchained.com/blog/bitcoin-utxo-privacy/)
Feedback
Remember to get in touch bitcoindadpod@protonmail.com or @bitcoindadpod (https://mobile.twitter.com/bitcoindadpod) on twitter
Consider joining the matrix channel (https://matrix.to/#/#bitcoin:jupiterbroadcasting.com) using a matrix client like element (https://element.io/get-started), details here (https://www.jupiterbroadcasting.com/community/matrix/)
Thank you Boosters
If you get some value from this show, please consider sending a boost. Hearing from you means a lot to us!
Send a Boost via the Podcast Index web page. No Podcast app upgrade required.
Install Alby (https://getalby.com/)
Find the Bitcoin Dad Pod on the Podcast Index (https://podcastindex.org/podcast/5049889)
Boost right from the page!
Send a re-ocurring or one-off lightning boost to the show with no message at bdadpod@getalby.com or directly to Chris at chrislas@getalby.com
Value for Value
Podcasting 2.0 to support an indepenent podcasting ecosystem (https://podcastindex.org/)
Recomended Podcasting2.0 apps:
Fountain (https://www.fountain.fm/) podcast app (Android)
Podverse (https://podverse.fm/) (Cross platform and self hostable) + Alby (https://getalby.com/) for boosts
Castamatic (https://apps.apple.com/us/app/castamatic-podcast-player/id966632553) (Apple)
Sponsors and Acknowledgements
Music by Lesfm from Pixabay
Self Hosted Show (https://selfhosted.show/) courtesy of Jupiter Broadcasting (https://www.jupiterbroadcasting.com/)
Activity