What we learned from the Bitcoin ETF denial

iv4n

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Quote from: olubams on March 13, 2017, 08:17:47 AM

Quote from: benperrin117 on March 13, 2017, 07:51:12 AM

An overview of the Bitcoin ETF and what it taught us about Bitcoin

https://www.youtube.com/watch?v=XXm5rgKpxiY

The lesson that I see and can phantom that we have learned are the following:

1. There is always an after ETF whether it comes or not

2. The voice have been heard in places that matter and we are one step closer to adoption.

3. The strength of bitcoin is being tested against news as to volatility and so far we are not doing bad in my opinion.

ETF is nothing more then some commission, and live goes on before and after them and similar to them. Bitcoin proven itself to many others and that is important. I always say that this is good advertisement for bitcoin, and cheap one, I hope they will talk more about it and more people will hear about it. For me biggest test was all this years that bitcoin survived, what bigger evidence anyone needs?

sportis

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Veni, Vidi, Vici

If we see the rejection of ETF as lessons learned first I could say that there is no way governments to let bitcoin to grow because could lead fiat currencies to crash. Moreover I could say that best comments had been said by Philip C. Chronakis, Attorney, Adjunct Professor of Law that the denial could not stop the progress of bitcoin but the approval could provide fair, investment opportunities to all Americans and not only the techie savvy ones.

monsanto

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..like bright metal on a sullen ground.

Can you imagine the current shitstorm going on if the ETF had been approved. The SEC would be wondering what the hell they had gotten themselves into. Right now whoever is in charge of the SEC is so happy that he didn't approve that thing. The funny thing is the SEC didn't even really mention the fork again as an issue after the winklvosses issued an amendment. As I recall the main complaint of the SEC was that the exchanges were mostly unregulated and too easy to manipulate.

uneng

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The thing I learned is that authorities don't want to make use of bitcoin yet as a trusted investment currency. But I'm not sure why. Maybe because they don't have how to take advantages from it or because they can't control it as they wish.
And I learned also we don't need etf to make bitcoin continue growing.

TheAlgorithm

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Quote from: hisuka on March 17, 2017, 03:23:10 AM

I think we learned from the bitcoin etf denial is that maybe government is not yet ready to face the global awareness of bitcoin. Even if this happen still we can use bitcoin as is, its benefits and advantages to users. Thus, bitcoin is still being used and still adopts by many.

I'm not sure about that. Bitcoin's use as a currency is not changed by the ETF - in the case of approval, it would be viewed more as an investment and arguably less as a currency. I think that the SEC's reasons for rejecting it were genuinely based on their fears of Bitcoin's volatility and the safety of their investors with fraud etc, because they aren't linked to any government agencies which might oppose the rise of Bitcoin as a currency.

dearbesz1219

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We supposed to be thank to etf because of it we found that bitcoin decentralization was very powerful features of bitcoins. Which is proven that no one really really can't control bitcoin by any means of the nations.

Anon11073

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Bitcoin still has many problems. I think that ETF is impossible until we resolve it

carlfebz2

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Quote from: bravehearth0319 on March 17, 2017, 04:39:30 AM

Quote from: benperrin117 on March 13, 2017, 07:51:12 AM

An overview of the Bitcoin ETF and what it taught us about Bitcoin

https://www.youtube.com/watch?v=XXm5rgKpxiY

The lesson which I saw after ETF rejected by SEC was, the private sectors maybe haven't seen that they can't get any benefit or profit into bitcoin that's why Etf has been denied. But this was only my opinion, regarding the results of the etf.

This would be the main thing on my mind too on which ETF have been rejected because government couldnt get a benefit from it since we do all know that bitcoin cant really be controlled or make money out of it or can be taxed.I dont know on what would be the other reasons but same as yours this is the thing that comes thru my mind regarding on the rejection.

bravehearth0319

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Quote from: benperrin117 on March 13, 2017, 07:51:12 AM

An overview of the Bitcoin ETF and what it taught us about Bitcoin

https://www.youtube.com/watch?v=XXm5rgKpxiY

The lesson which I saw after ETF rejected by SEC was, the private sectors maybe haven't seen that they can't get any benefit or profit into bitcoin that's why Etf has been denied. But this was only my opinion, regarding the results of the etf.

hisuka

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I think we learned from the bitcoin etf denial is that maybe government is not yet ready to face the global awareness of bitcoin. Even if this happen still we can use bitcoin as is, its benefits and advantages to users. Thus, bitcoin is still being used and still adopts by many.

Xester

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Quote from: CraigWrightBTC on March 17, 2017, 01:31:27 AM

Bitcoin can stand without approval from SEC at least it was the lesson could be taken,
rejection bitcoin is not become the ending of bitcoin, we can be relax because bitcoin is still alive
right now many people made investments on bitcoin because of this rejection.

Yes it is bitcoin is still alive and kicking even after the ETF was denied by the United States of America's Securities and Exchange Commission a few days back. But the denial was just a sign that bitcoin is having a huge trouble right now. If you notice the problem on the mining sector on which there was no solution to make confirmation faster to cater the overloading volume of transaction traffic daily. This is possibly the reason why the SEC has disapproved the ETF since it cannot see the future of bitcoin rather they notice the clear technical problems surrounding it.

tiggytomb

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Regardless of any ETF happening or not happening this beast cannot be stopped. It might take bitcoin a bit longer to become mainstream, if that is even a goal.

I am slighty surprised by the price after the ETF, I thought a lot of money was put into bitcoin in the hopes of the ETF being approved, must have been wrong.

meemiinii

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Quote from: bettercrypto on March 13, 2017, 12:17:58 PM

I learned from the Bitcoin ETF denial that Bitcoin is not yet ready to be in mainstream. There are still lots of work to be done, and it should be well regulated in order for SEC to approve Bitcoin ETF. Aside from that I think it depends on the kind of proposal that was submitted to SEC. The proposal should have showed that Bitcoin market can secure the funds that will be allocated to Bitcoin ETF.

you have a good point mate. so true! bitcoin is definitely not yet ready for such. more time must be allocated before it reaches there. not this time, but we all know that sooner or later, bitcoin will get there. Moreover, what i have personally learnt is that though bitcoin is much more stable now compared to the past year, still it is not enough or guarantee us for the government especially the SEC to approve it or accept it. I think they were just being too cautious and try to safeguard the investors.

el kaka22

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Quote from: n0ne on March 16, 2017, 09:09:41 PM

It's been clearly portrayed about the need of the systematic review and a central functional regulations and oversight are important for the health of any marketplace and safety of all it's investors. Also indicated it as an temporary one, later on the adoption might change the scenario.

Yes, with SEC's explanation I feel it would be too early to go for bitcoin etf. Government seeks regulations on every assets of bitcoin ecosystem but basically bitcoin works in different way like we the individuals need to take care of ourselves as there will be no central authority to regulate each and every aspects associated with bitcoin in uniform manner.

When mass adoption will be occurring and hence hitting mainstream makes bitcoin a perfect decentralised system without any common regulations. I believe in those times there will be no need of ETFs as bitcoin prices will be doing more than enough at those times.

I guess fundamentally bitcoin never needs to be traded in an exchange, just to attract the investors. Because there are already enough adapters cum investors keep on coming for the same purposes.

CraigWrightBTC

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Bitcoin can stand without approval from SEC at least it was the lesson could be taken,
rejection bitcoin is not become the ending of bitcoin, we can be relax because bitcoin is still alive
right now many people made investments on bitcoin because of this rejection.

carlfebz2

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We learned that government dont really accept bitcoin no matter what as the rejection take its place possibilities on ahead wont be possible if they would tend or plan to introduce bitcoin. For now we should move on on that rejection and go on ahead as basic days.

n0ne

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It's been clearly portrayed about the need of the systematic review and a central functional regulations and oversight are important for the health of any marketplace and safety of all it's investors. Also indicated it as an temporary one, later on the adoption might change the scenario.

shinratensei_

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Quote from: squatz1 on March 14, 2017, 09:37:29 PM

They're protecting people, just accept it as that.

Caused by the SEC that will deny all of the bitcoin etf in the future. And I guess the grayscale and solidx will be the next victims by the us securities and that's funny for watch. The deadline in the end of this month.

wuvdoll

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Quote from: BingoDog on March 13, 2017, 03:11:43 PM

We have learned that governments are still not ready to fuly embrace bitcoin but also that this doesn't matter that much and that bitcoin is stable enough to survive such rejection. No big deal happened, no big dump and the perspective looks fine. That is the good lesson.

It does not matter if governments accept bitcoin or not, as long as people still use it bitcoin will always grow, and people will still invest in it even if the price goes down, and if you think about it if governments do accept bitcoin more people will have access to it and that will make it a common thing which will bring down its value.

squatz1

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Flying Hellfish is a Commie

Anyone on here that is going ahead and say that the SEC is full of horrible people that don't like Bitcoin and don't want to allow it to thrive are the type of people that don't understand what the SEC is attempting to do in order to secure the investors in the marketplace / stock market.

The amount of hacks and everything that have occurred with bitcoin exchanges and having else just leave a lot of problems to investors that stand to lose a disgusting amount of money if something like this is to happen again and the price will tank.

They're protecting people, just accept it as that.

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