Bitcoin Spot ETF Close to Being Approved? * My Hive Goals (Week 41 2023)

This is a short sum-up table with the state of my goals in easier TLDR form. The table has only a general overview, with details expanded in the post.

Current State/Other Selection Criterion	Goals Matching the Criterion
Ongoing	5 (HP + HBD Savings, LEO Staked, Comments Made, DEC Saved 2 - Stage 2, Cards for Staking on Land - Stage 2)
Main Goals Completed	0
Main Goals Missed	0
Completed Goals	4 (DEC-B Saved, DEC Saving 2 - Stage 1, Cards for Staking on Land - Stage 1 & 1.5)
Missed Goals	1 (DEC Saved 2 - Stage 3)
Main goals	3 (HP + HBD Savings, LEO Staked, Comments Made)
Goals	2 (Cards for Staking on Land, DEC Saved 2)
New Goals	2 (Cards for Staking on Land, DEC Saved 2)
Increased Goals	3 (HBD target for HP+HBD Main Goal - twice, DEC-B Saved)
Decreased Goals	2 (Comments Made, Cards for Staking on Land - Stage 1)
Goals: Pushed Deadlines Further	2 (DEC Saved 2 - Stages 2 & 3)

I include a link to the initial goal-setting post for 2023, for reference, if needed.

It seems like the crypto market is getting ready for at least one bitcoin spot ETF approval soon... The SEC may be signaling that it's prepared for a less aggressive stance on crypto by not appealing the court's unfavorable decision on the lawsuit Grayscale filed and won against them. This was more of a technical victory, but still a victory, and it doesn't mean the SEC will automatically approve Grayscale's Bitcoin spot ETF application, as we have discussed in the past.

What it technically means is that the SEC can't use the same type of argument to deny another bitcoin spot ETF and that another denial would have to be motivated in a way that is specific to spot ETFs to explain why they are denied and futures ETFs are approved.

In my opinion, the SEC kind of backed itself into a corner and they can't fight this further without looking like bigger fouls than they already are. That's why I also believe the market is right this time and the SEC is ready to concede on the Bitcoin Spot ETFs applications.

Approval of a bitcoin spot ETF should be positive price-wise, although possibly already included to some degree in the current price evolution.

It will also be, similar to other changes we see in the crypto space lately, something we should not be very happy about if we value this space for what it is and its potential, and not as an appendix of the fiat world and traditional financial institutions.

---

Moving on, yesterday was LPUD and I staked another 250 LEO. In my case, I have had an "LPUD" every week, at least for the past few months. I regularly power up between 200 and 250 LEO weekly, usually on the high end of the interval, in pursuit of my LEO stake goal for this year, and a good part of that is purchased.

The announcement of the launch date for the LeoAds system adds more concreteness to the benefits of the LEO stake goal. This is going to be interesting.

Also, this week on Wednesday the Rebellion presale will start on Splinterlands. Preparations for that, plus the general short-term uptrend in the market, had a nice impact on Splinterlands tokens. Since I don't plan to participate in the presale due to my land goals, I sold my VOUCHERs hoping to buy them back later on at a small profit.

Let's see what has changed since last week regarding my Hive goals.

HIVE Power (HP) + HBD in Savings Main Goal

My staked HIVE reached 35,629 HP this week. I am on target with the PUM challenge for October. I still have 190 HBD in savings.

Here's what the evolution of the HP+HBD goal looks like (unless we have some price recovery by the end of the year, chances are to miss this main goal):

Here's where I'd add some information regarding the amount of HBD/HIVE per week I'd need until the end of the year, but given the recent evolution listing this makes absolutely no sense.

LEO Staked Main Goal

I staked another 250 LEO this week (for LPUD!) - 80 LEO purchased - and reached 20,300 LP. My powerup from this week is a little above the needed amount per week.

I currently need to stake 200 LEO weekly (down from 205 last week) to reach the target by the year-end.

Splinterlands Land Expansion Main Focus

Land expansion's main focus extends throughout 2023. Unless I change the strategy, it will be the only main focus / main goal for Splinterlands in 2023. But there will be several 1-3 months goals.

First Land-Related Goal: DEC/DEC-B Saved - Completed

This goal is COMPLETED.

Deadline (passed): When DEC-B offer runs out, either because all were sold out or because the time limit was reached (April 9th).

Target to consider the goal completed: 1.5 mil. DEC-B saved. Done!

DEC Saved 2 Goal - Stage 1 Completed

[COMPLETED] Deadline stage 1: June
Deadline stage 2: extended to the end of 2023 from the launch of Land 1.5
Deadline stage 3: Postponed to 2024 (considered missed for 2023)

Target to consider the goal completed:

• stage 1: 1.2m DEC (COMPLETED)
• stage 2: 2.2 DEC (1m additional DEC)
• stage 3: 5 DEC (2.8m additional DEC)

Current situation: 1.2m DEC (liquid) and 112k DEC x 2 = 224k DEC in SPS:DEC diesel pool.

Note: Looks like with the Rebellion presale around the corner DEC pumped harder than SPS and I "lost" virtually some DEC in the diesel pool.

New Land-Related Goal: Cards for Staking on Land Stage 2 Completed

^{The purpose of this goal is to build the amount of high PP cards I need for staking on my tract.}

^{We will need to fill 5 slots per plot with staked cards, without requiring summoners (that doesn't mean they can't be used as regular cards).}

So, what are the details of this goal?

Deadline:

• [COMPLETED] Stage 1: June 2023
• [COMPLETED] Stage 1.5: August/whenever Land 1.5 is launched
• Stage 2: End of 2023? (this will be a new goal)

The total number of maxed-level* cards needed for staking on land: 500 (5 x 100).

• stage 1: need 120 cards for land by the deadline (decreased from 220) COMPLETED
• stretch goal: have optimized cards for 24 plots COMPLETED
• stage 1.5: need 220 cards for land by the deadline COMPLETED
• stage 2: have 500 cards for land
• stretch goal: have optimized cards for 44 plots

(*) any card with at least 1000 PP suitable for the terrain types I own will do (better for better plots); doesn't have to be maxed; temporarily lowered the minimum to 800 PP. Will reduce it further for the initial stages of the gameplay of land.

Current situation total: 144 / 500 (28%), but counted at least 220

Current situation stage 2: 26 / 500

Time remaining until Stage 2 deadline: ?

Note: Mainly waiting for Land with this goal.

Comments Made

Original goal: 18k, REDUCED to 17k, by the end of 2023.

I started this week with a total of 16057 comments made.

Ended the week with 16183 comments made, which brings the number of my comments during this week to 126, which is above my needed weekly average.

I now need an average of 75 comments weekly to reach the goal of 17k.

Weekly Buy - LEO

I continued my weekly LEO purchases this week (80 LEO purchased compared to over 2x76 the week before). I'll keep doing that until I believe I am out of the woods with my LEO Power yearly main goal or until the price of LEO pumps and it doesn't make sense to buy anymore.

Posted Using InLeo Alpha