ETF Disaproved | Bitcointalksearch.org

aesma

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Quote from: yogg on March 11, 2017, 01:06:55 PM

Quote from: aesma on March 11, 2017, 05:19:55 AM

Quote

The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the
hands of fewer than 1,000 people, and that this high ownership concentration creates greater
market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market
efficient manner. This commenter claims that daily trade volume is only a small fraction of total
bitcoin mined.

Everything said is true, is it not ?

I think the main problem is the hoarding. Not that I blame hoarders, at my small level I'm hoarding too.

Well, when I read this part I quoted, and replace BTC with USD or EUR, it's still true, except for the numbers.
50 percents of the USD is in the hands of fewer that even 100 people ...

I do not understand why these arguments are to blame BTC whilst they apply to how things currently are ...

I don't think so. Billionaires own companies, they own stock, they own real estate, they don't own millions of 100$ bills.

BTC is hoarded like a commodity, not like a currency.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: numismatist on March 11, 2017, 02:48:46 AM

Quote from: marcus_of_augustus on March 10, 2017, 05:06:48 PM

Quote from: Victorycoin on March 10, 2017, 04:44:27 PM

Would have been surprised if it were the other way round - imagine asking the authorities to put their stamp on Bitcoin. They don't dislike Bitcoin for nothing, it is actually a threat to their survival and relevance and I don't see them undoing themselves.

Why do you think they waited so long to say "No"?

Just a cliffhanger. In the sequel they will say "No" again, and again. And you can't even argue against their habit, since Bitcoin mostly positioned itself as an antagonist against their own plot.
Any ETF will never succeed.

Yeah, I wouldn't be so sure of that. SEC is merely an enforcement arm of the state, not judicial or legislative. It's like going to the cops and asking if you can smoke a dooby in front of them ... unless the cops are you buddies (or dealers) they're gonna throw you in their cruiser.

SEC doesn't write the laws or even adjudicate on it. They are merely expected to interpret and enforce the Acts of Law.

Do not be surprised if the SEC get sued by the Winklevoss or some other court action going to higher authorities is now going to get set in motion. Hence the reason why it went all the way to a forcing a refusal out of SEC. A simple 'withdrawn' ETF request has no standing in law. Then again SEC is going to be soon populated with Trump appointees who will be especially against over-regulation and may simply overturn these Obama appointees politicised decisions anyway.

bitcoinvest

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13eJ4feC39JzbdY2K9W3ytQzWhunsxL83X

Believe it or not still have mixed feelings about this recovery, in my mind i expected to have a second dump that would be very logical.
Instead we have stable situation and i think that this can be meaning that IF would be another dump will be really bad this time, or we are so strong than we recovered easy after bots relaxed

AdolfinWolf

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Quote from: Humanxlemming on March 11, 2017, 04:51:40 AM

Quote from: Victorycoin on March 11, 2017, 04:23:26 AM

Quote from: jjacob on March 10, 2017, 08:12:14 PM

Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

It is so interesting to note that bitcoiners have so much faith in Bitcoin and held on to their coins inspite of the ETF disapproval. The much talked about sell-off, dump and even outright death of Bitcoin should the ETF fail is now like the millennium bug. As I write, Bitcoin is back at $1,191.83 at Coindesk, everyone fasten your seat belts for some cruise Grin

Quote

All the forces in the world are not so powerful as an idea whose time has come. Victor Hugo
Read more at: https://www.brainyquote.com/quotes/quotes/v/victorhugo136258.html

Yeah all bitcoiners still not selling her bitcoin and also not a panic seller, we need to keep to 4 digits price of bitcoin to recover all the lose down price, im thingking why ETF disaprove anyone can explain it

OT!!! Just saying to all bitcoiners make our bitcoin as brother/sister altrough make it as family and don't let other people still it

I don't see the ETF being denied as a big problem if were looking at the price it has already recovered for 50%, and i'm sure we'll be back at 1250 in a couple weeks. What concerns me more is that bitcoin is going to be seen as something like gold these days, and not an actual currency, ( in terms of transaction fees for example which are very high) So i'm hoping we can see segwit very soon, which will hopefully result in more adoption as bitcoin as a currency, not an investment.

U2

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I used to be indecisive, but now I'm not sure...

Shit. I saw the price and knew it had been declined. There was a decent recovery afterwards though. It's a good thing bitcoiners don't give a shit about the SEC regulations. Unregulated bitcoins are the best bitcoins.

yogg

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Quote from: aesma on March 11, 2017, 05:19:55 AM

Quote

The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the
hands of fewer than 1,000 people, and that this high ownership concentration creates greater
market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market
efficient manner. This commenter claims that daily trade volume is only a small fraction of total
bitcoin mined.

Everything said is true, is it not ?

I think the main problem is the hoarding. Not that I blame hoarders, at my small level I'm hoarding too.

Well, when I read this part I quoted, and replace BTC with USD or EUR, it's still true, except for the numbers.
50 percents of the USD is in the hands of fewer that even 100 people ...

I do not understand why these arguments are to blame BTC whilst they apply to how things currently are ...

aesma

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Activity: 2548

Merit: 950

fly or die

Quote from: yogg on March 10, 2017, 04:33:12 PM

Quote

One commenter states that the market for bitcoin, by trade volume, is very shallow. This
commenter notes that the majority of bitcoin is hoarded by a few owners or is out of circulation.
The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the
hands of fewer than 1,000 people, and that this high ownership concentration creates greater
market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market
efficient manner. This commenter claims that daily trade volume is only a small fraction of total
bitcoin mined.
This commenter also states that several fundamental flaws make bitcoin a
dangerous asset class to force into an exchange traded structure, including shallow trade volume,
extreme hoarding, low liquidity, hyper price volatility, a global web of unregulated bucket-shop
exchanges, high bankruptcy risk, and oversized exposure to trading in countries where there is no
regulatory oversight.

Source : https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

Yeah, thanks to such "commenters".. Did the SEC got that commenter in the Trump team ?

Everything said is true, is it not ?

I think the main problem is the hoarding. Not that I blame hoarders, at my small level I'm hoarding too.

Humanxlemming

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Quote from: Victorycoin on March 11, 2017, 04:23:26 AM

Quote from: jjacob on March 10, 2017, 08:12:14 PM

Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

It is so interesting to note that bitcoiners have so much faith in Bitcoin and held on to their coins inspite of the ETF disapproval. The much talked about sell-off, dump and even outright death of Bitcoin should the ETF fail is now like the millennium bug. As I write, Bitcoin is back at $1,191.83 at Coindesk, everyone fasten your seat belts for some cruise Grin

Quote

All the forces in the world are not so powerful as an idea whose time has come. Victor Hugo
Read more at: https://www.brainyquote.com/quotes/quotes/v/victorhugo136258.html

Yeah all bitcoiners still not selling her bitcoin and also not a panic seller, we need to keep to 4 digits price of bitcoin to recover all the lose down price, im thingking why ETF disaprove anyone can explain it

OT!!! Just saying to all bitcoiners make our bitcoin as brother/sister altrough make it as family and don't let other people still it

Victorycoin

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Quote from: jjacob on March 10, 2017, 08:12:14 PM

Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

It is so interesting to note that bitcoiners have so much faith in Bitcoin and held on to their coins inspite of the ETF disapproval. The much talked about sell-off, dump and even outright death of Bitcoin should the ETF fail is now like the millennium bug. As I write, Bitcoin is back at $1,191.83 at Coindesk, everyone fasten your seat belts for some cruise Grin

Quote

All the forces in the world are not so powerful as an idea whose time has come. Victor Hugo
Read more at: https://www.brainyquote.com/quotes/quotes/v/victorhugo136258.html

numismatist

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Quote from: marcus_of_augustus on March 10, 2017, 05:06:48 PM

Quote from: Victorycoin on March 10, 2017, 04:44:27 PM

Would have been surprised if it were the other way round - imagine asking the authorities to put their stamp on Bitcoin. They don't dislike Bitcoin for nothing, it is actually a threat to their survival and relevance and I don't see them undoing themselves.

Why do you think they waited so long to say "No"?

Just a cliffhanger. In the sequel they will say "No" again, and again. And you can't even argue against their habit, since Bitcoin mostly positioned itself as an antagonist against their own plot.
Any ETF will never succeed.

Yuuto

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Quote from: Dudeperfect on March 11, 2017, 12:13:20 AM

I am ready to bet with anyone who is against my opinion that bitcoin will be above $1,200 at the end of this year. ETF's decision is important but it won't create long-term impact IMO. I can see rapid growth in the user base and new investors if bitcoin falls below the price mark $800.

Yeah, sooner or later people will realise that the SEC is exactly the thing which bitcoin and block chain technology is designed to replace. We are all working towards a decentralised market, and the Sec in my opinion has to be replaced by a decentralised alternative as well.

The price of bitcoin is currently actually quite steady, at around 1.1k per coin. I simply do not see why what you've suggested cannot happen by the end of the year.

And the guy who said 700 here we come... Lol

hase0278

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Quote from: Dudeperfect on March 11, 2017, 12:13:20 AM

I am ready to bet with anyone who is against my opinion that bitcoin will be above $1,200 at the end of this year. ETF's decision is important but it won't create long-term impact IMO. I can see rapid growth in the user base and new investors if bitcoin falls below the price mark $800.

I agree with you. We might be able to see bitcoin again at 1200$ soon if things will take the right turn in my opinion, if Chinese don't dump their bitcoin once their exchanges are open we will see bitcoin again at price ranges 1100$-1200$ also there is the possibility that the price will fall to sub 1000$ but it will recover afterwards. So let's just wait what really will happen.

Dudeperfect

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I am ready to bet with anyone who is against my opinion that bitcoin will be above $1,200 at the end of this year. ETF's decision is important but it won't create long-term impact IMO. I can see rapid growth in the user base and new investors if bitcoin falls below the price mark $800.

Victorycoin

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Quote from: marcus_of_augustus on March 10, 2017, 05:06:48 PM

Quote from: Victorycoin on March 10, 2017, 04:44:27 PM

Would have been surprised if it were the other way round - imagine asking the authorities to put their stamp on Bitcoin. They don't dislike Bitcoin for nothing, it is actually a threat to their survival and relevance and I don't see them undoing themselves.

Why do you think they waited so long to say "No"?

They were simply being cautious, Bitcoin's core attributes are not something one can easily overlook and evidently it was a struggle for them to reach the decision to disapprove the ETF. The aftermath of the rejection is that Bitcoin is now set to get even stronger, because their chief reason for saying no is actually the bedrock of our faith in Bitcoin - it is unapologetically unregulated!

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

i can imagine if the price is down until reach $700-$800, i think the market is going to panic when they see the price is reach in lower than $1100 and it makes many trader getting prepare to sell their bitcoin. finally the market is really panic and there will be big selling from traders, i hope the price is not going to deep but if this is happen, then its the best time to buy bitcoin with cheap price and make it as our saving money until the trend is up again.

pitham1

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Quote from: lumeire on March 10, 2017, 08:54:04 PM

Quote from: jjacob on March 10, 2017, 08:12:14 PM

Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

It's a good sign, but IMO the bear isn't over just yet, we're gonna play around this level at least up until next week I suppose.

It is tough to decide whether the bad news has been fully factored in.
It has been close to 12 hours... Sufficient for most market participants to take in the news and decide on the strategy.

lumeire

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Next-Gen Trade Racing Metaverse

Quote from: jjacob on March 10, 2017, 08:12:14 PM

Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

It's a good sign, but IMO the bear isn't over just yet, we're gonna play around this level at least up until next week I suppose.

jjacob

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Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

Nice smart recovery. Looks like we are going to stay at 4 digits, even after the ETF got rejected.
We are at $1130 now, and it is not too different from where we were a week back.

GMPoison

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Great outlook of the disapproval from someone on reddit:

Quote

Those who want Bitcoin will be "saved" from using central entities to hold them. It will motivate people to buy and hold themselves, which is a great thing and is a very positive outcome for decentralization and moving away from the existing banking cartel.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: Victorycoin on March 10, 2017, 04:44:27 PM

Would have been surprised if it were the other way round - imagine asking the authorities to put their stamp on Bitcoin. They don't dislike Bitcoin for nothing, it is actually a threat to their survival and relevance and I don't see them undoing themselves.

Why do you think they waited so long to say "No"?

Victorycoin

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Would have been surprised if it were the other way round - imagine asking the authorities to put their stamp on Bitcoin. They don't dislike Bitcoin for nothing, it is actually a threat to their survival and relevance and I don't see them undoing themselves.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: yogg on March 10, 2017, 04:33:12 PM

Quote

One commenter states that the market for bitcoin, by trade volume, is very shallow. This
commenter notes that the majority of bitcoin is hoarded by a few owners or is out of circulation.
The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the
hands of fewer than 1,000 people, and that this high ownership concentration creates greater
market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market
efficient manner. This commenter claims that daily trade volume is only a small fraction of total
bitcoin mined.
This commenter also states that several fundamental flaws make bitcoin a
dangerous asset class to force into an exchange traded structure, including shallow trade volume,
extreme hoarding, low liquidity, hyper price volatility, a global web of unregulated bucket-shop
exchanges, high bankruptcy risk, and oversized exposure to trading in countries where there is no
regulatory oversight.

Source : https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

Yeah, thanks to such "commenters".. Did the SEC got that commenter in the Trump team ?

No. It was that loser Prof. BitKorn himself ... he of the "bitcoin is going to $10 fame".

yogg

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Quote

One commenter states that the market for bitcoin, by trade volume, is very shallow. This
commenter notes that the majority of bitcoin is hoarded by a few owners or is out of circulation.
The commenter also notes that ownership concentration is high, with 50 percent of bitcoin in the
hands of fewer than 1,000 people, and that this high ownership concentration creates greater
market liquidity risk, as large blocks of bitcoin are difficult to sell in a timely and market
efficient manner. This commenter claims that daily trade volume is only a small fraction of total
bitcoin mined.
This commenter also states that several fundamental flaws make bitcoin a
dangerous asset class to force into an exchange traded structure, including shallow trade volume,
extreme hoarding, low liquidity, hyper price volatility, a global web of unregulated bucket-shop
exchanges, high bankruptcy risk, and oversized exposure to trading in countries where there is no
regulatory oversight.

Source : https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf

Yeah, thanks to such "commenters".. Did the SEC got that commenter in the Trump team ?

Rockie1234

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Quote from: spazzdla on March 10, 2017, 04:14:03 PM

$700 a coin HERE WE COME!

I doubt that will happen. Firstly, the price is steadying around the $1,050 mark, not some sort of crash. Secondly, this is a failure, but nothing major. Just a company failing to get started. Even when Mt. Gox exited, leaving hundreds of thousands (millions?) robbed of bitcoin, the price of bitcoin only went down about 20-30%. However, the ETF failure is a big shame, and it's not very surprising that the SEC denied this suggested amendment. After all, WHO would be disadvantaged if Bitcoin grew stronger? Wink

swogerino

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Bitcoin Casino Est. 2013

Oh shittlz! Shocked

All that for nuthin' Roll Eyes

Pab

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Bye https://www.sec.gov/rules/sro/batsbzx.htm

spazzdla

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$700 a coin HERE WE COME!

GMPoison

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Already down 8%.

roland808

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There she blows....

Topic: ETF Disaproved (Read 1865 times)