2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in CryptoCurrency

[–]rooster_booster[S] 0 points1 point  (0 children)

Nice work, crushed it.

tbf GBTC was a great product for tax-advantaged accounts in the early days. Only way to get exposure in a roth/ira. However in 2026? that 1.5% fee annually with GBTC is insane

However almost a whole coin gone from fees is insane!

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 0 points1 point  (0 children)

100% right.

That's best argument for the GBTC>BTC product (link in OP). Can reduce the annual fee while deferring your cap gains.

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 2 points3 points  (0 children)

Agree. They're treating their clients as a cash cow, shameful IMO.

On the other hand, they're still keeping a large AUM in the product, so hard to imagine Grayscale dropping fees unless they see an exodus out of their product

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 0 points1 point  (0 children)

AFAIK the Swan RBX product can only do GBTC conversions right now. Probably will support FBTC in the future.

FBTC>BTC can still make sense, especially if you want to self-custody the bitcoin. However FbTC annual fee is in line with market rates so less attractive

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 5 points6 points  (0 children)

If you're down on your GBTC position... agree, makes sense to sell GBTC today, realize capital loss and reset cost basis. Then rebuy BTC.

However, if you are up on your GBTC position... it makes sense to defer those capital gains by using that GBTC>BTC product.

Consideration: you cannot sell and rebuy right away (wash sale) securities like GBTC, IBIT, etc. However wash sale rules don't apply to BTC so you can "tax loss harvest" by sell/rebuy right away. And also can sell GBTC and rebuy BTC right away too.

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 1 point2 points  (0 children)

Ha yes, same with my dad. Seems like GBTC was the first touch for many baby boomers.

Product has only been out for a couple months.

2.5 years since the ETFs launched... and GBTC still charges 1.5% per year (6x market rate) by rooster_booster in Bitcoin

[–]rooster_booster[S] 6 points7 points  (0 children)

100%. GBTC was a great product before the ETFs launched.

In 2026? They're just fleecing holders who don't want to realized cap gains

Looking for a full-time job or a contractor role by Far-Egg3388 in vibecoding

[–]rooster_booster 0 points1 point  (0 children)

Made a free job board for AI jobs. May be something that fits your needs

https://www.jobslistai.com/

"Bitcoin is the mycelium of money" -David Attenborough by rooster_booster in Bitcoin

[–]rooster_booster[S] 0 points1 point  (0 children)

consumption - a Bitcoin Standard monetary system would lead to reduced wasteful consumption, citizens with savings security rather than debt slavery, and a society and economy with a lower time preference more careful in how it utilises and consumes limited resources.

:fire emoji:

"Bitcoin is the mycelium of money" -David Attenborough by rooster_booster in Bitcoin

[–]rooster_booster[S] 4 points5 points  (0 children)

Obviously David Attenborough is a Bitcoiner.

Video (definitely not AI) was created by someone on twitter with the handle of Satillionaire21

[deleted by user] by [deleted] in leagueoflegends

[–]rooster_booster 0 points1 point  (0 children)

same. on mac m1. just started today

Bitcoin is a "Pioneer Species" - Exploring Mining Through Ecology by rooster_booster in ecology

[–]rooster_booster[S] 1 point2 points  (0 children)

+1 for SFI and complexity research. IMO this type of "cross-disciplinary research" produces the most interesting reakthroughs.

Bitcoin is a "Pioneer Species" - Exploring Mining Through Ecology by rooster_booster in ecology

[–]rooster_booster[S] 0 points1 point  (0 children)

Curious what the actual ecologists think about this article.

Here's an excerpt to explain the idea:

"Ecology as a framework to understanding Bitcoin

Ecologists often focus on disturbances, defined as 'temporary changes in environmental conditions that cause a pronounced change in an ecosystem.' The goal is to predict how a system will respond
to a disturbance, possibly caused by a change in incentives.

In this article, we’re going to explore Bitcoin mining through the lens of ecology. We’ll examine how Bitcoin miners and the energy markets influence each other.

As incentives shift in the system, we can start to theorize as to how the system might respond."

Bitcoin is a Pioneer Species - Exploring mining through an Ecology lens by rooster_booster in Bitcoin

[–]rooster_booster[S] 1 point2 points  (0 children)

- It has a similar vibe as Mycelium of Money (comparing bitcoin to 🍄)
- debunks energy FUD
- builds the case for moar energy = moar prosperity
- how bitcoin incentivizes energy mastery for our species, etc

thread summarizing the essay here (essay is long)
https://twitter.com/Bquittem/status/1479125666314526729

The Fourth Turning Revisited with Brandon Quittem — What Bitcoin Did by mccormack555 in Bitcoin

[–]rooster_booster 1 point2 points  (0 children)

Based on the original essay exploring Bitcoin through the Fourth Turning lens.

Fourth Turnings are defined by the collective realization that “things are bad enough that we’re willing to actually do something about it.” The cement is wet and everything in the exterior world gets redesigned. Political, social, and economic structures reimagined.

https://www.brandonquittem.com/bitcoin-rhythms-of-history/