It's for the better. What's the longest you've been without caffeine?

Trying something very different and living in a high rise condo for a few months.

Urban life pros:

* Convenient access to restaurants & entertainment

* Businesses are open longer / later

* Public transportation

Urban life cons:

* Public transportation

* Expensive AF

* Noisy AF

* Beggars

City dwellers, what should I do to maximize my enjoyment of this experience?

ChatGPT4 gives this answer to your question:

Your understanding of the dynamics of an ETF (Exchange-Traded Fund) investing in a cryptocurrency like Bitcoin (where the denomination is in satoshis, or "sats") seems to be on the right track. Let's break down your example and address your big question.

In your scenario, you're considering an ETF where the underlying asset is measured in satoshis, and the value of these assets fluctuates with the price of Bitcoin. Here's how it works:

1. **Initial Scenario**:

- 100 shares in the ETF, with a total of 100,000 sats.

- The price of each sat is $2, so the total Net Asset Value (NAV) of the ETF is $200,000.

- Each share is thus worth 1,000 sats.

2. **Price Increase to $4/sat**:

- NAV increases to $400,000 (100,000 sats at $4 each).

- You buy 10 shares at this new valuation.

- The fund receives $40,000 and buys 10,000 new sats at $4/sat.

- Total shares: 110, Total sats: 110,000.

- Each share still represents approximately 1,000 sats.

3. **Price Increase to $5/sat**:

- Market price per sat increases to $5.

- $40,000 now buys fewer sats (8,000 sats).

- Total shares: 110, Total sats: 108,000.

- Each share now represents about 982 sats.

4. **Price Decrease to $2/sat**:

- Market price per sat decreases to $2.

- $40,000 buys more sats (20,000 sats).

- Total shares: 110, Total sats: 120,000.

- Each share now represents about 1,091 sats.

In this scenario, the value per share in terms of sats changes based on the market value of Bitcoin at the time of each transaction. The ETF does not maintain a fixed number of sats per share; instead, the number of sats represented by each share fluctuates based on the fund's total satoshi holdings and the number of outstanding shares.

Regarding your big question: **Is the price per share sold updated for the sats they acquire?**

- In most ETFs, the price per share that investors buy or sell at is based on the NAV per share, which is calculated at the end of each trading day. This NAV reflects the current market value of the underlying assets (in your case, sats) divided by the total number of shares.

- When new shares are issued (like when you bought 10 shares), the ETF uses the money to buy more of the underlying asset at the current market rate. This is then reflected in the NAV and, consequently, in the value of each share.

So, in essence, the price per share is indeed updated to reflect the current value of the assets the ETF holds, which in your scenario, is the number of sats and their current market value.

Sats *

correct me if im wrong but im pretty sure there’s no guarantee how many sats a share in these etfs are worth

on a dollar value, they’ll do fine but on a per sat basis investing into an etf in a bull day dilutes the per share sats value of everyone else in the fund

the reverse happens on bear days, afaict. here’s the lil scenario i walked through to convince myself of this dynamic.

100 shares, 100k sats. current price is $2/sat. $200k total NAV

ea share worth 1k sats

lets say the price moves up, to

$4/sat, $400k NAV, 100k sats

i buy 10 shares, $40k in, buys 10k sats

110 shares, $440k/110k sats

1k sats/share

market moves: day price is $5. $40k buys 8k sats

110 shares, 108k sats

989sats/share

market moves: day price is $2. $40k buys 20k sats

110 shares, 120k sats

1.09k sats/share

the big question is: is the price per share sold updated for the sats they acquire? or do they just accept money at price X, buy as many sats as they can at day-end and that’s what gets added to the fund?

This was a great video! Even know what the differentiation between orange and purple blocks was an aha moment for me 😊 I had to Google what Mem Pool meant; an abbrev, nice 😉 I’m still don’t know/understand, who is mining what and where but as far as this video - super helpful! Great lights in the background too 💁🏽‍♀️

I installed Bitcoin Core on a Mac and want to migrate to bitcoind + cli using Docker containers. I already have it up to date with the blockchain and with txindex set to 1.

Do you have a guide or could you please explain how to do it?

My Bitcoin journey would have looked a lot differently if it wasn’t for Nostr. I understood some of the fundamental ideas and bought/sold at times of hype several years ago, but my tie to Bitcoin died down after that. I joined Nostr not because of Bitcoin Twitter and I never actively used Twitter, but because of the appeal of censorship resistance and decentralization. After joining, I’ve been surrounded by amazing people who happen to be Bitcoiners and I’ve learned so much from them. Admittedly I still don’t understand enough. I still don’t know how to read a Mempool.space page, what certain sat/vB numbers really mean, and I haven’t found the time yet to start using a cold wallet, but I’m here to learn. I’m thankful to the community here that I’ve been fortunate enough to connect with, and I’m excited to see what’s next in this journey.

We should be fine then, the IPO was 15 years ago with the genesis block

no idea if the Bitcoin IPO will be similar, but generally speaking most IPO launches tend to spike, then fall flat/underperform for 6-12mo

donno if this helps with expectations at all, but may be good to keep in mind