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Topic: Bitcoin ETF .. do we really need it? (Read 700 times)

BeGoods

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Quote from: Parabellun1917 on November 30, 2018, 04:39:47 PM

Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.

https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/

Hello! Honestly, I do not think this is so necessary. And I do not believe that this news will make the market grow. But this is just my personal opinion.

Of course its grow, are you still in doubt about the influence of the news? news that makes users buy and sell, especially ETFs will make the market wider, of course the influence is very large for the market. we need that..

hyunee

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We really need ETF. Did you know what happened to gold when ETF was approved? It dramatically rose up high and became stable. Imagine what will happen to cryptocurrency once this thing happen. Cryptocurrency prices will increase also and this will make our market go bullish.

Quote from: manggis97 on March 25, 2019, 11:02:02 PM

In 2017 crypto was bull market without any news about Bitcoin ETF approved, so we not really need it to trigger bull market because this bullish trend can be come with anothers news. There are alot of others mass adoption of crypto so not only depend on the Bitcoin ETF crypto will raise.

Are you sure we don't need ETF? What happened when ETF was disapproved more than one time? There was a decline of price in bitcoin. See, it depends on ETF.

manggis97

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wayaneka

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Bitcoin ETF possible to increase demand of Bitcoin so i think we really need it, Bitcoin and others cryptocurrency need more adoption to make crypto market bigger and more people interesting to invest in to it. If approved it the market cap of crypto possible to increase to more than $1 triliun because more investor will jump in to crypto.

Oilacris

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Quote from: omonuyak on February 02, 2019, 02:19:32 PM

For now it has surpassed that level that we would said we did not need ETF. I think it could have been better if the issues of ETF do not come up in the first place as bitcoin is money and the ETF reduce it values as money.

With all of those successive rejection from SEC aren't they not getting tired of it? Since SEC reject it for how many times then people believed that they really don't want ETF in the market since it doesn't bring any effect of the price. A clear manipulation just pushed the price so it would look like it has an effect prior to that rejection.

omonuyak

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mornabo

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Quote from: sedahan13 on February 01, 2019, 04:22:04 AM

Bitcoin ETF will bring more investor in to Bitcoin and others cryptocurrencies so we really need it. By approved it by SEC, Bitcoin will be become new asset class so more people in the world will interesting to invest in to BTC. We areally need it to push the price going up. If approved it BTC has potential to going up another 10 times more.

Yeah we need it actually, from that of course bitcoin market will be wider and expand and invite many prospective users to enter. but we cannot intervene in the SEC's decision. Even though he refused, it was not a problem? bitcoin will continue to run and develop with or without SEC

sedahan13

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Parabellun1917

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

Hello! Honestly, I do not think this is so necessary. And I do not believe that this news will make the market grow. But this is just my personal opinion.

duyduc256

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Quote from: lenovop-70 on November 28, 2018, 06:44:01 AM

ETF need for develope the blockchain,
But "whale" use this issue to make play with the price, all we need just what date really sure it will be approved, does anyone know the exact date will be ?
All i need is ETF right now, if i allowed to ask, i need pump and exit the trade safely.

Everyone is thinking like you and it is really hard to make a profit in this market because the risk of investing is very high. I think that if the ETF investment fund is to enter the market, Bitcoin will soon return to $ 20,000.

lenovop-70

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sinkfish

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No needed at the moment, but not necessary a bad thing either. it would be a great addition nonetheless.

btc_angela

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Quote from: Nellayar on November 28, 2018, 03:45:19 AM

We need Bitcoin ETF right now! The price of bitcoin still loow even there is a small pump happening today. Bitcoin ETF is the only hope of the people. If it will be a positive news then the price of bitcoin will follow. A lot of criticism in cryptocurrency nowadays but still I am hoping that soon it will recover.

You are right. I think at this point we need something to push and create some momentum. So for me Bitcoin ETF could be the catalyst, I know we grew tired waiting for the SEC decision, but all is not lost because it looks like ETF is imminent. And if this happens, more institutional money will flow that might create the bull run we all have been waiting.

Nellayar

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Hirokook

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i think i don't need this. it's not necessary at this time. this is my opinion

Distinctin

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Quote from: Alexey1 on November 27, 2018, 03:29:07 AM

Bitcoin ETF .. do we really need it? - it depends on ETF. As for CBOE, it is a physical bitcoin ETF, it stays true to the bitcoin you own in underlying. So I'm for it.

If it will make the price of bitcoin to be back on it's great days then I guess we really need it.
There are speculations this year, with this ETF the price pump a little but after denial it has dump so in short, it's really important to get approve to
have a good effect in the market.

Alexey1

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Bitcoin ETF .. do we really need it? - it depends on ETF. As for CBOE, it is a physical bitcoin ETF, it stays true to the bitcoin you own in underlying. So I'm for it.

wuvdoll

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

When asked about this couple weeks ago I was saying we really do not NEED it but it would be nice to have it just in case. However, right now we really do need it like hell because they will be the only ones who can fight these "bitcoin whales" because we can't.

If Craig wants to sell all his coins and drop the price that's fine because if there was ETF going on and people were putting money into it that would mean there were big banks who expect the price to go up in order to get more investors, hence if the price goes down they would spend money to keep it higher for their investors, specially at the beginning so they can attract more investors later on.

An ETF that loses money of its first ever customers will not go big so they will work hard to keep the price high and that means even if Craig spends a billion dollars to keep it low, finance world will cover that difference and take it higher. Hence we really really really need it right now.

Netnox

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With the markets in such a bad state, I don't think that SEC will ever permit the approval of the ETFs. They just need some excuses, and with the ongoing crash they got what they wanted.

rodskee

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Until now there is nothing clarification about the US sec for the etf Approval
I don't think etf can help for bitcoin become stroger again
And i don't understand why us sec always delay tge decision of approval
People will understand if the sec decide to junk the etf in the garbage

Agapelove

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Bitcoin ETF wouldn't be that in hype if it is not significant to bitcoin, affecting bitcoin price just as the start of the SEC decision. It will of course boost the confidence of the traders somehow. But, not to the point that it is a necessary thing to happen in bitcoin.

Cryptomilz

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It's December 2018 and not one ETF has been approved and none in sight to be approved yet. About the need for an ETF, I think the space is really ripe for an ETF now if institutional investments is anything to go by. A lot of fresh investors are weary of the unsecured nature of the current exchanges and as such, an ETF would platform where they can invest in a more safe manner

Robertqueen2

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Bitcoin ETF is really needed as this procedure will increase the mass adoption and trust of bitcoin. In line with soaring bitcoin price, ETF will make bitcoin a stable asset.

quality.crypto

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Quote from: andrey111 on November 02, 2018, 03:17:34 PM

Quote from: kotajikikox on November 02, 2018, 08:02:18 AM

Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

I am not very interested about bitcoin ETF SEc approval, i still believe bitcoin is decentralized cryptocurrency as independent anonymous currency.

I don't thing etf can help for bitcoin bring it to become stable, but I'll will wait what is the effect if ever etf apporve by the US SEC.

I can not agree. I believe that in order for new investments to go into the cryptocurrency market, regulation is needed. People are afraid to invest in the crypto market. Bitcoin-ETF was created to protect investors first!

Yes, once we get the approval it is good to get more new investors into the cryptocurrency market. As the things are progressing cryptocurrency is going to be major adoption for people, so we need to wait for many approvals in the coming days.

Wayan_Pedjeng

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"We" don't need an ETF, but there are a lot of people out there who needs it. And I believe that crypto-market will be in a much better state if the trading of Bitcoin ETFs is permitted through major stock exchanges.

Ryanbruc

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Quote from: apityeh71 on November 19, 2018, 02:29:31 AM

In my opinion to make Bitcoin and cryptocurrency will be huge market, we need Bitcoin ETF because this thing possible become trigger for bull market in crypto. Just like price of Gold that hasbeen bull run after the ETF approved.

Of course we badly need this to happen because the market needs quick cure and this is one good way to push it a bit ahead of the current position it is standing now at. In addition, due to ETF, people will also start investing big which means big push.

apityeh71

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Greed Dev

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

In my opinion, bitcoin etf is not really needed in this market. This is a very volatile market and that is the nature of the market. Investors are accustomed to this and the appearance of etf funds will upset my investment strategies and other investors.

andrey111

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Quote from: kotajikikox on November 02, 2018, 08:02:18 AM

Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

Parabellun1917

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

Hello! Honestly I do not know. I think it will benefit the market, the flow of new money is very good. We'll see))

Leonard2016

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I think they are just nasty games , They are spreading FUDs to decrease the market so that they can buy more in deep , They all know they can't stop it buy they are decreasing its speed as they did when they added bitcoin to futures trading and it went down from 20k to 15k and now only 6k!

charlotte04

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

I think we do because a lot of people are expecting it to happen and maybe it would make the price of cryptos go up a bit and would also make another bull run from it.

kotajikikox

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

Virtual-Money

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

for me, bitcoin doesn't need etf but if its really required then we need to support it

marcbitcoins

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For me, we will not know until the SEC will approve these ETF products like we already see that there is no direct impact when the US SEC just rejected it this year in which we thought the market will falls but if the SEC will approve it by this month of November then maybe it will trigger the bullish run in which the Crypto market will rise up once again, so i hope the SEC will approve it so that we will have our conclusion if it we really need it or not. Lets wait and see.

AlutBitcoin

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We don't "need" it but we can definitely get a use out of it. First of all the moment it gets accepted will be the day bitcoin rises like crazy, not that ETF gets any money directly into bitcoin because people who invest into ETF basically bets on the price of bitcoin instead of buying bitcoin directly but it would still create some hype on bitcoin.

However in the long term it may take money out of bitcoin, people may prefer putting their money in their safe SEC regulated ETF instead of all these exchanges that has been known the get "hacked" or basically hold your money without a reason. The good will be short term and the bad will be long term but after all that said and done we do not "need" it but it is a way to tell the world bitcoin is not the "drug money" that was 5-6 years ago but a legit investment option today.

St4yInTh3D4rk

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Quote from: karungbitcoin on October 26, 2018, 04:13:16 AM

To increase Bitcoin community we need it, because when Bitcoin ETF approved alot of people and investor will more interesting about Bitcoin. Currently about 1% know and make invest in Bitcoin and by Bitcoin ETF approved so more people wil jump in to Bitcoin and crypto market will be bigger and explode.

It will get bigger and bigger as an investment if the ETF approved but we fond the bitcoin for using as investment? Not right that is why we call them as crypto currencies so we need to use the bitcoin for payment option when ETF approved the bitcoin will be unable as currency and it will be found only in the hands of big investors.

karungbitcoin

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abstractednerve

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In 2017 we did not need the ETF but the market was up and the bitcoin reached 19,000$ after. So I think we really do not need the ETF, but if the ETF is approved then it is a very good condition for the market to go up stronger.

Sean25pogi

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yes we need it because it can give a huge help for all of us most especially in our community. Income is necessary which the main purpose why do many people invest in this platform.

ecnalubma

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I think we need ETF to bring in more money and boost investors confidence over Bitcoin. Big investors need protection in the space so I think it is essential. I’m very optimistic that once they are approved it can be a catalyst fir this years bull run.

Daniel9140

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In my own opinion, we do not really need bitcoin ETF but the issue is that, many traders think that when ETF is approved, this would bring a new wave of investors to invest into bitcoin and this would likely give more confidence for investors in the market to invest more

Slow death

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

do we even need the Bitcoin ETF.

We are in need of more demand and it seems to me that ETFs can bring more exposure to bitcoin and consequently create greater demand, just to see the reaction of the market when the SEC postponed its decision to realize that people are giving much importance to the ETF, that there is Bakkt, but this is something for November and the EFT are closer to being approved or disapproved. I think we need ETFs.

Reid

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Quote from: enhu on August 09, 2018, 01:12:01 AM

What Bitcoin had achieved right now was on its own and without ETF. Certainly it can go on forever along with the altcoins without ETF. The government however is making their move to make some changes because of the illegal activities in relation to BTC now that it's known and they learned its unstoppable. No ETF approval or With ETF approval crypto is just going to be doing fine. But for the security in investing into crypto, there has to be regulations which includes the ETF approval.

This is the real answer I am looking for from reading top to bottom.

We as supporters of bitcoin have seen a lot of ups and down and including cents and zero. That is without ETF.
One question though. Have you ever seen one posts here of satoshi talking about an ETF? How about the whitepaper?

NONE!!!!

This ETF thing may be the cue into taking bitcoin back to 3 digit price or maybe a 2 digit and so on and on until it is dust again.
Somehow they will see that if bitcoin can do it then why not the other coins? There will be more to pick from investors until we are all divided.

Argh!! Just hard to explain but I have some own predictions with this. It could be the nightmare that we have been waiting for if it is passed. Why not just let it be decentralized just like how satoshi created it.
After this is passed then be ready for KYC's.

SamDummy

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What is happening with the Bitcoin exchange-traded funds (ETFs)? Why might they be a bad idea for decentralisation, consensus, and even the price? A billion-dollar "not your keys, not your bitcoin" opportunity for non-technical institutional investors. (Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.)
https://youtu.be/KSv0J4bfBCc

RakknRoll

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Exchange-traded fund is just like a trading business in cryptocurrency, I think yea because we can obtained a gain or loss in this process where in all earnings we get can be considered as profit.

Wind_FURY

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Quote from: Pursuer on August 14, 2018, 07:06:12 AM

I wish more people asked this question the day that ETF hype began last year for the first time. by then we all were blinded by the hype and the rise because were thinking about profit, this year the same thing happened and we were blinded once more.
people were also happy about futures but they ended up hating that soon enough as the prices started going down and they saw behind the curtain. ETF is not exactly the same but it will get the same kind of people involved and they don't care about bitcoin, they want fiat.

The only "Bitcoiners" who want an ETF is the part of the community that's usually new or the people who only care about price and profits. We cannot blame them because, in my opinion, they do not have a deeper understanding of what Bitcoin is yet.

Quote

if people were thinking more about how pointless an ETF is for a decentralized and global currency then we might not have had the past 2 month's volatility.

Maybe. We would never know.

Wallflower28

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Quote from: joniboini on August 09, 2018, 12:58:37 AM

If we're talking about the effect of Bitcoin ETF on Bitcoin prices, I think we 'need' Bitcoin ETF to create a positive sentiment, just like the previous CBOE Futures. Bitcoin ETF news is so central right now to create market sentiment, even dozens of positive news like blockchain adoption and others don't push Bitcoin price. It's pretty weird, it seems like whatever happens in the US decide the future of Bitcoin prices.

Therefore, this is what market needs today. As of now, there are many negative news explode in the cryptocurrency. And those negative news havd impact to the price of bitcoin and ethereum. As of now, bitcoin have only 6K and ethereum fluctuates around 280 usd. There are many reasons behind the dump but ETF affect them much.

Pamadar

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Quote from: Thirdspace on August 14, 2018, 07:21:36 AM

to answer the topic, I will say that we don't need ETF
this ETF will only create another price bubble like last year, an abnormal price spike
and guess who will reap the profits? right... whoever behind this ETF idea
they've accumulated cheap bitcoin and this ETF is just their exit plan for profit

This is the right time to think deeper each time we've heard some news about btc or crypto, we should learned from the past and analyze well each decision that we will going to, ETF seems to be the reason from the last years pumped many traders and investors buy in because of this possibilities,
but it looks like most of them who didn't bothered to understand first the potential are blindly been trapped by the quick hype, now they are selling
in with loses, ETF can be a good spark in terms of bigger venue attracting more new target investors and traders, it can help only if being supported.

satosibtc1000

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ETF will do more harm than good I think that the world of cryptocurrencies can do without it.

Thirdspace

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Pursuer

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I wish more people asked this question the day that ETF hype began last year for the first time. by then we all were blinded by the hype and the rise because were thinking about profit, this year the same thing happened and we were blinded once more.
people were also happy about futures but they ended up hating that soon enough as the prices started going down and they saw behind the curtain. ETF is not exactly the same but it will get the same kind of people involved and they don't care about bitcoin, they want fiat.

if people were thinking more about how pointless an ETF is for a decentralized and global currency then we might not have had the past 2 month's volatility.

frankerstein

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Bitcoin ETF is a very good option, as it is going to bring some big non technical and non-crypto investors into this.

Wind_FURY

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Quote from: NeuroticFish on August 12, 2018, 04:15:22 AM

Quote from: Wind_FURY on August 10, 2018, 12:42:56 AM

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

Bitcoin ecosystem consists in businesses. We have a couple of exchanges, casinos, hardware producers and not much else.
For increased adoption we need more and more businesses incorporate Bitcoin. And for that the price has to grow substantially and not fall too much. And for that we need inflow of money.

Many projects, startups, even so-blamed ICOs are tied ultimately to Bitcoin's price. Some could die off not because the project is bad, instead, because they didn't sell Bitcoin, Ethereum, whatever to fiat in December (maybe they even had the ICO after that).

Also tangentially related: After the halving, which I know it's quite far yet, the miners will still have to stay on profit. And again, this depends on Bitcoin price.

But how would an "ETF" change all that? Bitcoin is an open system, a type of "hard money", and it is ready and welcome for anyone to use.

Bitcoin doesn't need an ETF. It is Wall Street scammers that want an ETF.

Quote from: Wind_FURY on August 10, 2018, 12:42:56 AM

The "ETF" will not bring anything "of quality purpose" for the network. It would be better to set up more retail exchanges to make it easier for every person to buy and hold Bitcoin in my opinion. Adoption.

The average Joe may be afraid to hodl if the price falls month after month.
At some point the Dogecoin community wanted to try your idea to prevent the coin fall too much and they failed. You know why? Math. How many "Joe" have to hodl and even buy more to counter somebody that can easily sell now and then 1000s of Bitcoin? Keep in mind that the average Joe has maybe 0.1 BTC, not 100s ...

Also, if literally everybody would just buy and hodl, then we would have a failed coin, with no liquidity, not adoption... Just my 0.00000002BTC

Then it is not my fault that they have failed in having a deep understanding of Bitcoin. But how would it differ from holding an ETF if the price is falling?

Bobby park

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

Why do we need the result of ETF? Simply, because market reactions are based upon the news and the decision of SEC will determine the future price of bitcoin. But whatever it will go, price will move up when September comes on. It is a preparation for the upcoming 2018 Christmas and New year celebration, just like 2017 scenario.

pobeditelvezde

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I find bitcoin ETF is useful because ETF may attract new investors. As far as I know gold ETF is quite popular among retail investors who wants to buy gold but do not want to buy real metal or futures. Aslo ETF may be useful for institutional investors because they like investing by buying various ETFs. I think we do need to feel fear on ETF because it is an useful instrument which may be used some part of investors. Also it would be nice if SEC was control this ETF.

ExtremeFacials.com

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I don't actually understand it fully and I can not make it conclusion do we actually need it but anyway I am understanding that it is greatly affecting the price of Bitcoin so it means that it is something significant,

krauzzer02

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Bitcoin achieved ATH without the help and hype of ETF, it merely affects the price of bitcoin as the holders of ETF are not be going to invest directly in bitcoin but on the other hand, it has some good benefits to its traders so if that helps crypto then we needed it if the opposite happens then we should discard it, more adoption, enhance the trust of the possible investors and improvements that can greatly affects the price positively.

rumexx

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If we could achieve the acceptance of ETF by SEC within a short period of time it will really help the bitcoin market by bring new inflow of cash which will increase the demand of bitcoin and this chain reaction will impact on the market price and volume. ETF will be a great relief if it will be successful.

berrygood

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We do not need it but not everything comes from a need, it will have positive effect on the price so it is good for most of us.

Turst1974

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Quote from: richcorner100 on August 09, 2018, 02:44:16 AM

I think we really need it because if Bitcoin ETF approved the demand of the cryptocurrency will increase alot and the total market cap of crypto possible to going up more than $1 trilliun in just afew month. When Bitcoin ETF approved by SEC , many new big investor will put their money in to crypto.

We can see a little reaction after the SEC decision about ETF, but I think that it will affect the bitcoin price temporarily and very soon the bitcoin price will regain their position very soon. we just need to remain calm and strong.

Bezobraznike

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Quote from: Distinctin on August 12, 2018, 04:58:47 AM

ETF is already in the minds of the people, they believe that ETF will change the fate of bitcoin this year and will dictate the price of bitcoin to break its ATH.
That is how the media affected our minds, they always emphasize that ETH is important for the market to grow and reach $1 trillion market.

What ETF can do is to legalize Bitcoin businesses inside US borders, if we know that US dollar is the most used in international transactions and it`s world's primary reserve
currency, that is big step forward for Bitcoin to be legalized in that country. Do we really need it? Of course we need it and that will happen one day, this or next year, it`s a great
that they already talk about it, they have many propositions and there will be more.
What we need is more people to have trust in Bitcoin, when governments regulate Bitcoin inside their own borders more people will have trust. Many people wait that assurance
from their governments to get into crypto-currencies.

rajkr

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The successful ETF can bring the BTC at previous hike.I hope ,it will get sooner.

Distinctin

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NeuroticFish

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Quote from: Wind_FURY on August 10, 2018, 12:42:56 AM

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

Quote from: Wind_FURY on August 10, 2018, 12:42:56 AM

BitNaija

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My opinion is that we need the bitcoin ETF. Yes, it might not get the needed education to all, but it a way to get many more people feel the effect of bitcoin. Who knows, they might seek the education latter.

vinbentrob

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As it is right now, majority of the market participants feels we need ETF! I also think we need ETF for those big investors that want to see structure. These investors will not able to come into cryptocurrency market as it's presently is!

vossybiglady

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No we absolutely do not need it. You want people trading actually bitcoin not paper bitcoin. They will print 10 billion paper bitcoin and have those things floating about wallstreet crushing the prices if I understand correctly. I wish it won't happen but you know it will. They want the control. 45 days to fill your bags.

Herbert2020

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i am starting to think that nobody gives a shit about SEC and ETF at all. at least all of real traders don't, maybe newbies are different. BUT the difference is that everyone also is afraid of how others (the market basically) is going to react to the news so they speculate about that reaction and then act on it.

for example with the rejection of an ETF that happened recently the speculation was a drop so they started selling. then with the postponing of the decision about the other ETF there was another speculation of drop so they panic sold again.

Wind_FURY

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Quote from: NeuroticFish on August 09, 2018, 01:09:34 AM

Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

Quote

However, the ETF idea was rushed, hence the disaster. We need better regulation, we need to rule out the exchanges where you can "do tricks" (maybe decentralized exchanges would be the answer? I don't know.) When the market becomes more stable, when the market doesn't react this bad to a news that many of us were expecting, then the ETF will be approved. We need to clean the garbage first, then we can hope we'll shine.

Shortly, we "need" the money the ETF brings, but we need to clean the mess first, by ourselves.

Netnox

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Yes. We need it badly and we need it right now. There are tens of millions of users out there, who don't want to invest in Bitcoin through unregulated exchanges. Bitcoin ETF gives them an opportunity to invest in Bitcoin through regulated exchanges and funds.

enawati

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News of Bitcoin ETF just make impact with the price of crypto, so we really need it for better ecosystem in crypto community. If Bitcoin ETF approved that mean Bitcoin will become one of the asset class , and the market cap will go higher and following others asset class like gold or popular stocks.

mostkey

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If indeed the ETF will give a big influence or positive news then the answer is yes, the market needs a moment like this where good news will be digested by most people and start entering the market to be more trustworthy and profitable, here only needs good news and ETF statements Still a question mark for next month, not knowing whether the statement is rather negative, maybe people might be afraid of a market that has the potential to fall back.
Because all public fans and Bitcoin are waiting for the SEC's decision on ETFs, at the same time it is a determination of trust for new people in the crypto world because their thoughts are still rocking.

shulio

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It may create a wind to take prices to high 10000 dollars level, but I do not think it will be good for crypto currency environment to be accepted this year.

Xenrise

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We really need it for the bitcoin to rise again. If we wanna see it rise. Gold etf made the gold flew easily. And who knows if etf will be also published in bitcoin? This would be the wildest groth we'll ever seen.

groko271

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

to me the uncertainty is the bigger issue. While things/issues swing in the balance the price will follow. TBH, I wish the SEC would get their shit together.

BitHodler

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Quote from: cryptokia on August 09, 2018, 03:09:17 PM

I'm not familiar with all this specifics of that case but I'm seeing all that people which are so excited about EFT, so I think it will greatly improve their bitcoin price and if this will not happen I think everybody will lose their trust in Bitcoin.

The problem here is that increases and profit taking based on a specific event is a temporary practice.

Let's say the SEC approves an ETF. The price breaks $20,000 and all ETF speculators start selling their coins to take profits. You know what that means? Done is the ETF effect for them.

From that point they will focus on the next big thing to once again repeat the same speculative hype nonsense. People here don't care about the long term effects of these financial instruments.

If people lose trust in Bitcoin because of an ETF they don't belong here. I hope they'll leave and never come back because we don't need these parasites. We need more people interested in the technology itself.

loveinberlin

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I think that it is obvious that we need btc and ether. to my mind, both of them are great coins we can invest in. BTC is the revolution in our world and it will change it to the better forever

ololajulo

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I later got to know that more bitcoin trades are off counter i.e not through the online exchange; which has really affected the price and encourage manipulation. More can be done if the presented proposal this time around break through. They companies involves have the capacity to move the market and bring confidence in the market online and offline for retreated traders and new investors. The confidence of every traders is what is demanded from this proposal success.

cryptokia

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LeGaulois

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@ICOselector2018z

The dip started before the SEC postpones their decision, so the 10% is not related to this news.. And while you mention the 45 days it can also be a lot longer, up to February next year (if I am correct). I don't think we (the crypto community) need it as other users say, because it's not going to give us something. Other than to see an increase in the cash flow to bring fresh money injected into the market

richcorner100

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adaseb

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I think the Bitcoin ETF won't change much, just like the futures.

If the retail market really wants to buy bitcoins they can always use that GBTC or even just buy it with a futures broker as long as they have enough for the leverage.

Bitcoin has far more use cases than an ETF. These ETFs and Futures are all for "Buy the rumor, sell the news".

The Bitcoin futures is a perfect example because when the CME actually went live, it was the last time BTC saw $20K.

enhu

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NeuroticFish

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

We don't need the ETF per se, we need the signal it brings. We need it for big money to flow back in, we need it for future development and some think that we may even need it for stability (although this last part is incorrect).
However, the ETF idea was rushed, hence the disaster. We need better regulation, we need to rule out the exchanges where you can "do tricks" (maybe decentralized exchanges would be the answer? I don't know.) When the market becomes more stable, when the market doesn't react this bad to a news that many of us were expecting, then the ETF will be approved. We need to clean the garbage first, then we can hope we'll shine.

Shortly, we "need" the money the ETF brings, but we need to clean the mess first, by ourselves.

joniboini

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bungphe

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A bitcoin ETF is one that mimics the price of the most popular digital currency in the world. This allows investors to buy into the ETF without going through the complicated process of trading bitcoin itself. Moreover, because holders of the ETF won't be directly invested in bitcoin itself, they will not have to worry about the complex storage and security procedures required of cryptocurrency investors.
There is another crucial benefit to focusing on a bitcoin ETF rather than on bitcoin itself. Because the ETF is an investment vehicle, investors would be able to short sell shares of the ETF if they believe that the price of bitcoin will go down in the future. This is not something that can be done in the traditional cryptocurrency market

BitMaxz

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Quote from: ICOselector2018z on August 08, 2018, 07:51:00 PM

I do not think there is an exact day when the SEC will decide on bitcoin ETF because there is some news telling that September 30 is the postponed date where the SEC is going to decide whether Bitcoin ETF will approve or not.

Anyway, I think we don't need bitcoin ETF because according to other enthusiasts that bitcoin ETF is made to play the price of bitcoin and I think they create it for pump and dump.

Here is a video that we do not need a bitcoin ETF https://www.youtube.com/watch?v=I6_ipj02bvM

ICOselector2018z

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