Topic: Bitcoin ETF approval and alts. (Read 2860 times)

If will go on its own way without SEC approval. Although with the approval of SEC, bitcoin will soar to the moon. Unfortunately, there are things that we can't control like we are all into getting it approved by SEC. But since it is declined already, the best thing to do is just try to panic and let the course of bitcoin go on its own. Whether the price will go down or rise, we will have to see it in the future.

I don't think bitcoin need this etf anyway , it's doing well on it's own , i don't think bitcoin will take the same way as anything before it will just make it's own way and path because it's diffrenet than anything else, i realy would like to go to future to see how bitcoin will be.....

if you don't use bitcoin as a currency it's fine but don't think that just because you don't use it other are not using it either, regardless of the fee, which is not that high after all, it offer more privacy and fast way for buying stuff, also you can easily evade taxes with bitcoin, and regain your fee there, with fiat you would pay a lot of fee just to maintain your precious credit card! that's stupid, i don't pay to have my coin in my wallet, btw bitcoin is not slow, if you pay the correct fee will be confirmed in 10 min or less

How can you imagine merchants to accept BTC with 24 hour confirmation times and fees exceeding $1 per TX. It is weird, go and try to buy a cup of coffee with your Blockchain app and share answer with us how that was cool. Story about merchants accepting BTC is a bubble to fool people that you can use your BTC in everyday life for evveryday TX's. Why I need this? 1$ per TX while my mobile app charges $0?!

While I agree about volatility I do not about technicals. BTC has too much congestion problems that are unresolved and it will be more in the future. You mentioned merchants. Remember how many transactions per sec can scale BTC? And when you'll find the answer, tell us more about merchants accepting BTC. It is bullshit. BTC has a lot of unresolved problems. Core team, miners and speculators are lying because they have their own interests.

As I agree that crypto is volatile, I do not recommend anyone to invest or put their money into it. Retirement funds have conservative and safe investment tools. But what I want to say, alts have better perspectives than Bitcoin with its hyper expansive and slow network.

Finally, do you know that you can't talk abstract "altcoins". There're a lot of them. Shitcoins, pump and dump coins huge list of them. All of the alts are dependant on BTC and volatility of alts depends on BTC! In terms o fiat major altcoins aren't so volatile as you're trying to convince us. We should trade alts not againts BTC but against fiat to see the difference. We also should expect more merchants accepting the best performing alts. Volatility is not an issue because crypto is converted to fiat in real time. But BTC is too slow for any merchant to accept it and too expansive to use it for customers.

for alt is the same they have nothing over bitcoin, and bitcoin has the single most important thing over alt, that you didn't mention there, which is merchants, and BTW bitcoin is still more stable than any alt despite the dump of yesterday, and lol at bitcoin have no store of value, but you think that any alt has store of value better than bitcoin? they are far worse in term of stability, bitcoin has the best stability you can get for a crypto coin

The problem is not with altcoins the problem is with people who are wasting their money in scam shitcoins.

What advantages over alts has BTC?

1. Transactions fees? No
2. Transactions speed? No
3. Anonymous coin? No
4. Volatility? Check price movement yesterday if you think that BTC is very stable! So, no.
5. Store of value? Check any book of economics and find out what is "store of value". The premise of store value is that it hasn't high volatility rates. Nobody will put their money in BTC except speculators and venture capitalists. Bitcoin isn't a good option of store of value because it is to volatile and risky. 
6. Speculation. The only thing Bitcoin does. Yes, it is volatile as hell and you can make money from this.
7. Cheap and efficently functioning network? No
8. Strong and unaminous community? No.
9. Safe network. Yes?

To sum up, altcoins (the best of them), for example NEM, has many advantages over BTC.

Bitcoin prices may test below $1000 levels in upcoming days but I am not sure that would be the signal for altcoin bumps. The big problem with altcoin is, usually they do fail to keep their investors and traders attracted toward it all the times. Investors and traders keep on switching into new coins all the times then how you can expect prices to bounce back.

New altcoins will keep on hit the market and people will invest and book profit and then will forget when they see another new altcoins. So far this is the history how altcoins market worked and if history repeats itself then we can keep on seeing blood bath everywhere of alt markets.

But the bitcoin still need the correction for their price. and i think we will see the bitcoin is back again into the middle level and leave the bottom.

We saw a sharp increase in XMR/XBT in response to the ETP rejection by the SEC. https://poloniex.com/exchange#btc_xmr

Disapproved, celebration time, c'monn. Green lights for altcoins. I was really in depression during the hard rise of Bitcoin but I was aware that after ETF will be disapproved alts will pump hard.

Happening now and alt coins will drop. Will be good to buy cheap alt as people will take profits the next ATH.

I think someone has an information we don't have, the price manipulation has started and I expect the decision to be made public soon. I believe someone is shorting Bitcoin and some gullible traders are going to fall on his knife.

The bitcoin etf will make the bitcoin will become the centralized currency, and it's just a business by the winklevii, they just think about the money and money. LOL

Yes even I am not in favour of ETF...We need decentralized token and bitcoin was on top of it and now looks like it will be like any other average currency

Anyone that is not playing to gallery will know that ETF is a bad move for Bitcoin, there will be so many price manipulation which may likely go out of control and even centralisation.

I don't see the need for ETF, have you heard of USDETF or EUROETF, the concept is against what Satoshi designed Bitcoin to be, why do I need someone to control my Bitcoin for me. Once you have your wallet and internet you are good to go.

If bitcoin gets in a huge bubble then that will soak money out of the altcoins since everyone will want to get in bitcoin to try to get a share of the profits, but some of the best altcoins could also do well in those circumstances.

Unexpectedly mostly everyone who saw the video agrees. Can't wait for the decision!

Why is the price suddenly going down before ETF? I was expecting lot of people to grab btc before ETF news comes out

It is likely that bitcoin ETF will give a good effect. For there will surely be many investors or people who are getting to know, and also to use it. you don't need to worry to news created by those who do not know or those who're bitcoin coveting its growth. If you are not sure of the growth of the bitcoin, it would be better you save it and wait until the price giving your profits

we will very soon find out the result of ETF and see how the market reacts but it is usually pretty hard to predict the reaction for bitcoin which is the most affected by this news let alone predict about altcoins. they usually change with bitcoin price but you can never make a rule out of it.
when bitcoin rises sometimes it takes some of the coins with it to the top but most of the time other altcoins crash because of this bitcoin rise simply because traders cash out to go back to bitcoin and remove their buy support from those coins.