What SolidX ETF means to the bitcoin community?

Xester

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Quote from: OmegaStarScream on March 13, 2017, 06:21:28 AM

I still don't know what SolidX is really about so an explication is really appreciated, and I want to know how this ETF (which should take place 30th March) is compared to the twins ETF that got rejected two days ago.

I really dont have a clear understanding as to how I will make a proper distinction between SolidX and Twins ETF. But what is clear in my mind that at least there is a back up plan to the failed ETF. This time around there would be a positive reaction from the Securities and Exchange Commission. If the Sec will give a favorable remarks on SolidX then that would bring a big impact to bitcoin economy that would drive its price to 2000$ value per coin.

1Referee

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Quote from: OmegaStarScream on March 16, 2017, 09:23:45 AM

I see, If I remember correctly, the Winklevoss ETF had 100 million dollar, how much is it when It comes to SolidX? If they have less money, I think It will just makes their chances even less then the twins ETF.

I am still searching the article I have read a while ago, but it was stated that the amount of capital that they were looking to raise with their ETF was more in the range of $1-2 million. That's obviously peanuts compared to the initial $65 million from the Winklevoss ETF, that later got pushed to even $100 million. But an important difference (which still isn't enough to get it approved) is that SX has all its holdings insured up to an amount of $125 million. Winklevoss didn't offer any type of insurance.

Denker

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The SolidX ETF means nothing to the BTC community as it will be rejected like the COIN ETF!
So there is no reason to talk about ETFs anymore.At least as long as someone tries to launch it in the US.
They may have better chances in other countries like South Korea or Japan for instance.
But the real big money sits at the Wall Street and they don't want BTC be a part of their market.
I can live with that to be honest.

OmegaStarScream

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Quote from: Slark on March 16, 2017, 04:15:38 AM

We missed SolidX ETF because everyone was so focused on Winklevoss' COIN ETF instead. With COIN ETF gone community is focusing on 'next big thing' we have - SolidX.

SolidX statement: "the SolidX Bitcoin Trust will protect U.S. consumers in a way that truly bears in mind the best interest of such consumers."

Considering that SEC rejected COIN ETF because it was too risky and offered no protection for investors in case of BTC crash then maybe SolidX with their BTC insurance will hit the jackpot?

I see, If I remember correctly, the Winklevoss ETF had 100 million dollar, how much is it when It comes to SolidX? If they have less money, I think It will just makes their chances even less then the twins ETF.

Slark

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We missed SolidX ETF because everyone was so focused on Winklevoss' COIN ETF instead. With COIN ETF gone community is focusing on 'next big thing' we have - SolidX.

SolidX statement: "the SolidX Bitcoin Trust will protect U.S. consumers in a way that truly bears in mind the best interest of such consumers."

Considering that SEC rejected COIN ETF because it was too risky and offered no protection for investors in case of BTC crash then maybe SolidX with their BTC insurance will hit the jackpot?

bravehearth0319

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Quote from: savioroshan on March 13, 2017, 10:01:58 AM

oh God, one more ETF is there? I didnt hear about it . I only read about the twins ETF. But what ever it may be, I dont think it will be approved. And definitely the SEC decision whatever it may be , its not going to affect the price of bitcoin in my opinion. You can expect a slight variation in the price but not much.

This is true and correct, I agreed on what you had said. Actually, for what happen now Sec already rejected ETF as I expected to be happen. although many of the community in bitcoin world are much more expecting good results , but their expectation didn't happen. And that's realy good news to me

Senor.Bla

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The Winklevoss ETF was supposed to bring us closer to the moon and was very important to all, but then it got rejected and suddenly nobody cared about it and it wasn't important at all anyway. I don't get the logic behind that but that's just Bitcoin. Now the next ETF decision is around the corner and nobody expects it to be approved. Just some insurance should not make the difference, but it still might get approved since i see no logic in this either, but hey it's the SEC (just like Bitcoin no logic involved).
But what i really wonder about is this. Apparently the SEC gives you a heads up that it will not be approved, so you can withdraw before it gets rejected. Why would you do that? Is it cheaper then waiting those few more days on the rejection? Why didn't the Winklevoss twins withdraw? We still have 2.5 weeks, but if SolidX also wont withdraw we might see some heavy speculations and maybe another price rally (if there ever was one before the Winklevoss ETF).

amacar2

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Official site for soldix https://sldx.com/
Decision for SolidX ETF have been delayed by SEC many times before and i think they will again push the decision date from the current proposed date of 30th march.
http://www.coindesk.com/sec-delays-decision-solidx-bitcoin-etf/ (First delay)
https://news.bitcoin.com/sec-delays-decision-solidx-bitcoin-trust/ (Second delay)

Kprawn

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This is no different than the Bitcoin ETF than the twins wanted to apply for, apart from the insurance and this will not even make a difference in

their "excuses" for not approving the ETF. They say that they want to protect the "public" but what they are actually doing is to "protect" the rich

Wall street investors. The Gold ETF's were allowed, but we all know how Cartels are manipulating the price.. and the SEC is worried about

"unregulated Bitcoin exchanges" ...What a joke!!!!

savioroshan

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oh God, one more ETF is there? I didnt hear about it . I only read about the twins ETF. But what ever it may be, I dont think it will be approved. And definitely the SEC decision whatever it may be , its not going to affect the price of bitcoin in my opinion. You can expect a slight variation in the price but not much.

Lucius

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What is certain is that first ETF by Winklevoss brothers is rejected and now all the attention is diverted to new SolidX ETF.As already is mentioned SolidX is have some insurance and I found information that is better prepared for the eventual hard fork.

As we see how first rejected ETF only have very short influence on price,I think if second ETF is also rejected this could have a similar effect.But there is a third Barry Silber's ETF on which the decision will be made somewhere in the summer of this year.

The question is whether these ETF means something or anything for BTC?First is rejected,two more are coming and only if one or them or maybe both
be accepted it makes some difference,if they are rejected this will be only short opportunity for quick profit.

bitcoinissatan

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I just saw the scenario behind this, but somehow I believe it will be approved by the ETF

manselr

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Quote from: OmegaStarScream on March 13, 2017, 06:21:28 AM

I still don't know what SolidX is really about so an explication is really appreciated, and I want to know how this ETF (which should take place 30th March) is compared to the twins ETF that got rejected two days ago.

It's clear to me that SOMETHING will happen. I think all ETFs trigger a reasonable expectation in the market big enough to cause a change in the price. Of course, the change will be fast, so it will require you to act in the moment. Forget about setting orders, you may lose your BTC, it will go up fast, you must sell and buy QUICK.

European Central Bank

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they have a different insurance set up, the coins are somehow insured which the winklevoss ones weren't. that ain't gonna make the slightest difference in its eventual rejection. they should withdraw now.

OmegaStarScream

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I still don't know what SolidX is really about so an explication is really appreciated, and I want to know how this ETF (which should take place 30th March) is compared to the twins ETF that got rejected two days ago.

Topic: What SolidX ETF means to the bitcoin community? (Read 786 times)