People are all writing about the negative feedback and no one gives a damn about the fact that it was SIX negative feedback, just SIX, nobody cares. Bitcoin ETF will not be the salvation for bitcoin for sure, you will not see bitcoin going to 20 thousand dollars or more in price as soon as Bitcoin ETF gets accepted, of course the price will move upwards a bit and maybe who knows it will move past one resistance and that is great but it won't be a huge deal.
Nobody in bitcoin business really cares about it and honestly I think it will only affect like 10% of whole crypto users anyway and god knows how much of that 10% will use it anyway. So, this is something that is important for maybe 2% of all of crypto users, the rest 98% will continue their lives like nothing happened.
Topic: Bitcoin ETF: SEC Receives 84% Negative Feedback on Application - page 2. (Read 14637 times)
I think bitcoin does not need the ETF at all because without the ETF the crypto market continues to run, only if the ETF accepts it, the bitcoin will be more trusted by investors because so far the discussion in bitcoin-related ETFs is a matter of market manipulation, even though the manipulation can only by a number of large banks that we do not know that the bank has plunged into the cryptocurrency market.
What is the problem with BTC being trusted by investors? Right now we have whales, the only way to make market more stable is to increase the amount of those whales and the general market cap. None of the major markets consist only from minor users.
Right. Though i doubt a lasting effect, i think a lot of investors outside the crypto community are looking in from the outside. And an approved etf will boost confidence in putting new money on the market. Don't see any harm in that.
Meh, I just grew tired of waiting for this so called Bitcoin ETF's, however, I was quite surprised to see that it got 84% negative feedback on the application. I see someone trying to play mind games again, it could have been manipulated for all we know. However, as I have said, the excitement from all of this has waned out, so I don't know if people are still expecting a possible ETF's as it looks like SEC will not approved at this point with the same reasons as the previous rejected applications, - market is prone to manipulation.
The industry’s enthusiasm for a Bitcoin ETF (exchange-traded fund) appears to be waning — if you judge that by the dearth of new comment letters to the Securities and Exchange Commission in support of the investment vehicle.
The SEC received just seven comment letters from the public in response to a solicitation for feedback it had requested in February 2019. Of those, six urged the agency to reject the application. (That’s around 84%.)
Reference: https://www.ccn.com/bitcoin-etf-sec-receives-84-negative-feedback-on-application
I see that some of the negative comments revolve around market manipulation and people losing money. I tend to agree with the assessment that there is market manipulation. But there is also market manipulation (by the big banks) in the forex market that goes unpunished. People losing money is hardly an argument also. Nobody is forcing anybody to invest or trade for short term gains.
That being said, I don't think that Bitcoin needs an ETF. ETF can be a hidden source of inflation and additional manipulation. So we are better off without it.
That being said, I don't think that Bitcoin needs an ETF. ETF can be a hidden source of inflation and additional manipulation. So we are better off without it.
Of course there's market manipulation. Sellers want to get as high a price as possible and buyers want to maximize their purchases by getting in at the lowest price possible.
So it works both ways. Everyone was happy to take advantage of highly inflated prices in 2017 and early 2018, weren't they? I don't recall anyone complaining. But when it's on the other side, people lose money and cry foul. So typical.
This whole ETF thing has gone from being so much desired with people eagerly waiting for it to a thing that only gets a meh! or a yawn!. Probably by the time one of them finally get the green light there will be no one left to clamp their hands.
And, why do we need those ETF? For "investor's money'"? For "Wallstreet"?
I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..
And, why do we need those ETF? For "investor's money'"? For "Wallstreet"?
I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..
That's right.We need a global mass bitcoin adoption before some ETF approval decision.
Having bitcoin ETF approved will prove the point that bitcoin is a "digital gold"/speculative tool and nothing more.We want bitcoin to be a fully functional currency used by millions of online/offline businesses and all their customers.This is the only way bitcoin will gain enough trust,so the institutional investors/Wall Street will adopt it.
Quote
Of those, six urged the agency to reject the application.
I think people oppose competition and seek a rejection for that reason. Theres an ETF for all sorts of commodities and currencies and many are not stabilised or based on any set monetary base. Where as Bitcoin has a quite straight forward schedule for its past and future currency release, there is no sudden change to that likely unlike something like XRP where the majority of the coins are hidden away to be gifted to the makers at a later date (massive debasement)
Problem is the dollar itself and many currencies are not stable exactly and release as much new money as they need to pay bills.
I think bitcoin does not need the ETF at all because without the ETF the crypto market continues to run, only if the ETF accepts it, the bitcoin will be more trusted by investors because so far the discussion in bitcoin-related ETFs is a matter of market manipulation, even though the manipulation can only by a number of large banks that we do not know that the bank has plunged into the cryptocurrency market.
What is the problem with BTC being trusted by investors? Right now we have whales, the only way to make market more stable is to increase the amount of those whales and the general market cap. None of the major markets consist only from minor users.
I think bitcoin does not need the ETF at all because without the ETF the crypto market continues to run, only if the ETF accepts it, the bitcoin will be more trusted by investors because so far the discussion in bitcoin-related ETFs is a matter of market manipulation, even though the manipulation can only by a number of large banks that we do not know that the bank has plunged into the cryptocurrency market.
Then expect the price of bitcoin to go down once this news spreads like wildfire and I'm sure the twitter world will explode again, thus creating a avalanche of negativity causing others to panic again. But majority really knows that SEC will just give us another rejection because obviously, this market is really prone to manipulation, admit it or not. So I'd say, prepare for the worst again and hope that no one will go on a panic mode (specially noobs), and push the sell button once hearing this news.
That being said, I don't think that Bitcoin needs an ETF. ETF can be a hidden source of inflation and additional manipulation. So we are better off without it.
You are quite on a point. ETF is a form of regulation just like the forex market too and the banks do manipulate it. With ETF, we are likely to see a huge manipulation from the whales collaborating with the regulating body to capture the market to themselves.
The article and the headline when you look at them screams clickbait as hell. First of all its just 7 letters that went there, only 7, compared to amount of people who will use this ETF for their investments the letter count of 7 is just funny, for something this important it should have been in the thousands but people do not care to send anything to SEC, they really don't care about it, they just let it be. And when you say 84% of all letters send were negative you mean literally 6 of them, just 6 bad letters to SEC about the bitcoin ETF.
Not that I care what SEC thinks of bitcoin and bitcoin ETF but in all honesty, having only 6 bad letters about bitcoin ETF is a good number, I would have assumed like 2341 good 5423 bad ones and so forth not like this small amounts. I wouldn't worry about it if I were you, its all fine.
Not that I care what SEC thinks of bitcoin and bitcoin ETF but in all honesty, having only 6 bad letters about bitcoin ETF is a good number, I would have assumed like 2341 good 5423 bad ones and so forth not like this small amounts. I wouldn't worry about it if I were you, its all fine.
However, ETFs will not bring any real value to the crypto market as majority of the proposed ETFs are synthetic in nature. Only exception is the Winklevoss one! So no need to be sad either!
I do not know why you are so confused with type of Bitcoin ETFs, especially since you repeatedly asked for differences and got an explanation. Winklevoss ETF is based on futures, just like most other proposals - and the only one who could make a difference is ETF from VanEck’s SolidX&CBOE which is physical, means that shares are backed by real bitcoins.
Regarding negative feedback for VanEck SolidX Bitcoin Trust, it is only 8 comments and they are from some random people, they have almost no effect on final SEC decision. Also 5 of them is posted on same day, it is possible that one person is responsible for all comments.
I don't think of ETFs anymore because bitcoin can remain between us and it will, with or without ETFs. Let them decide to approve or reject bitcoin but one thing I'm sure, people will choose what they want. And if people feel that bitcoin can really help them, then they will choose bitcoin, and there is nothing the government can do because it is a public vote and they cannot fight the public.
It's sad to see someone still not too open minded about bitcoin, the world is advancing in a rapid speed of technology, if we keep on deny the new idea then we can't have a better technology in our lives, usually the one that rejected is the one that not understand the intention of bitcoin creation, and the old traditional investors who don't want to learn about new things
Probably now is not a good time for the adoption of the ETF and it should be finalized so that the SEC does not have unnecessary questions and complaints. I think that by the end of the year, when there will be a rise in cryptocurrency prices, the relevance of the ETF will reappear and there will be more of those who have a positive attitude towards the adoption of ETF Bitcoin.
And, why do we need those ETF? For "investor's money'"? For "Wallstreet"?
I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..
For the developing of the market, I think.I remember how many were enthusiasts when CBOE launched its future options, about the same number as the ones blaming them afterward for dragging down the price..
With a larger trade volume, the market will become more resilient to any kind of dumps and with a larger amount of qualified traders FUD won't be so dangerous for the market. In general, it may lead to more stable BTC price.
Comparing to BTC futures those ETF will really buy BTC from the market while futures were just gambling within CBOE where no one has been buying a single sat.
The industry’s enthusiasm for a Bitcoin ETF (exchange-traded fund) appears to be waning — if you judge that by the dearth of new comment letters to the Securities and Exchange Commission in support of the investment vehicle.
The SEC received just seven comment letters from the public in response to a solicitation for feedback it had requested in February 2019. Of those, six urged the agency to reject the application. (That’s around 84%.)
Reference: https://www.ccn.com/bitcoin-etf-sec-receives-84-negative-feedback-on-application
It was somewhat expected due to the increasing number of criticisms received for the proposals of synthetic ETFs. Also the propaganda marketing of Banks against cryptos have fueled such kind of comments as well. I would not be surprised if we later find out that these people are even somewhat affiliated with Banking Business.
However, ETFs will not bring any real value to the crypto market as majority of the proposed ETFs are synthetic in nature. Only exception is the Winklevoss one! So no need to be sad either!
SEC is very late with his work regarding crypto
Still SEC didn't create rules what is security what is not
Bakkt CEO told in last interview that both CFTC and SEC regulators don't understand what blockchain is and how to manage that.Now Bakkt CEO teach US regulators about blockchain
World will not wait for USA blockchain and crypto currencies is big money on the table
Biggest US companies wants to enter crypto. Facebook.IBM and last news are about VISA
So i think that ETF will be finally accepted but not yet now
right, it takes time to be able to receive ETF, this is proven by the increasing number of companies that use it. Lastly I knew that the New York Times also started using blockchain, of course this could be a consideration too Still SEC didn't create rules what is security what is not
Bakkt CEO told in last interview that both CFTC and SEC regulators don't understand what blockchain is and how to manage that.Now Bakkt CEO teach US regulators about blockchain
World will not wait for USA blockchain and crypto currencies is big money on the table
Biggest US companies wants to enter crypto. Facebook.IBM and last news are about VISA
So i think that ETF will be finally accepted but not yet now
SEC is very late with his work regarding crypto
Still SEC didn't create rules what is security what is not
Bakkt CEO told in last interview that both CFTC and SEC regulators don't understand what blockchain is and how to manage that.Now Bakkt CEO teach US regulators about blockchain
World will not wait for USA blockchain and crypto currencies is big money on the table
Biggest US companies wants to enter crypto. Facebook.IBM and last news are about VISA
So i think that ETF will be finally accepted but not yet now
Still SEC didn't create rules what is security what is not
Bakkt CEO told in last interview that both CFTC and SEC regulators don't understand what blockchain is and how to manage that.Now Bakkt CEO teach US regulators about blockchain
World will not wait for USA blockchain and crypto currencies is big money on the table
Biggest US companies wants to enter crypto. Facebook.IBM and last news are about VISA
So i think that ETF will be finally accepted but not yet now
Jump to: