Post the rejection of ETF, bay seems to have jumped up in price.
I presume those who had sold bay to buy bitcoins are coming back.
I presume those who had sold bay to buy bitcoins are coming back.
Seems that way... crypto is bullish. Who needs their crazy regulation and bureaucracy. That is for the dinosaurs, the old way of doing thing. Takes them years to make a boring decision.
And their premises were a tad hypocritical the entire PDF was a rant. Varying opinions of the subject were balanced. And still they complain of overseas exchanges but forget that many corporations they support are not registered in the states. Also they are questionably subject to more manipulation because nothing they do is transparent and favors sharks. Many companies hold more than 51% premium stock. Then of course they claim to want to protect consumers but forget about Enron, Bernie Madoff and Facebooks obviously manipulated nonsense IPO.
Who needs them? And I've also heard that it would be too much trading of paper as opposed to moving a real commodity so it can harm the price temporarily. The thing I thought was bullish was the arbitrage (which the SEC complained about ironically) and the injection of billions of dollars to the market of fresh money.
But perhaps those investors will get frustrated with the old way of doing things and simply buy BTC directly. Or better yet, ALTCOINS!
To be honest I was almost certain they would accept it due to political positioning. But perhaps that was an oversight as the powers that be might have other plans bank related or delayed timing.
Pretty much the best answer to give to anybody who is whining for missed ETF approval. I totally agree. F+++ that we don't need no corporate/gov etf crap. We are already able to build our own decentralized markets to trade our own wealth.
It's kinda like trying to power a 1957 Chevy with a Lithium battery, ain't going to happen. We need new financial vehicles if we are to continue to offer them at all. Modern crypto currency does not need funds and trusts, it's all built in really. Why subject high tech money to low tech methods of investing? I see all this ETF grief as wasted time and energy that could go into other projects. The winklevosses want to get richer? let them buy up a 10 million Bay and hold it for 6 months. Let's move on shall we?
We should be reaching out to those types really and any and all other investment advisers. To me bay looks something many would be very interested in when they see the tech working for themselves.
10M these guys could be serious and accumulate 250M at least.
