Why wait for the SEC? We are not their puppets on a string.

Raggie

member

Activity: 462

Merit: 10

Quote from: Kakmakr on July 27, 2018, 01:48:16 AM

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin. Angry

We should forget about these government employees that are playing us like puppets and we should cut the strings and build on our own success. Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them. Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

Sadly most peoples are waiting for SEC decision and causing the market to drop. Bitcoin or cryptocurrency is decentralized, no need to depends on centralized government like SEC. Seems like many altcoin holders sold their altcoin because this ETF related case.

kriptowitch

full member

Activity: 378

Merit: 102

As-it would not sound sad, but in practice it turns out that all in the depths of the soul waiting for the SEC. We can say and affirm that we are not their puppets, but deep down we hope and believe that the SEC will make a positive decision.
Conclusion: we are dependent on policy and point!

RandyGamage

newbie

Activity: 140

Merit: 0

I think still bitcoin is not recognized by the world properly. so surely they can take decisions and control other countries apart from common fiat money. so I think still we have bow our head. lets spread bitcoin name to the world more and more. Then we wouldn't have be puppets of them as you said,

Uyiosarugue1

newbie

Activity: 84

Merit: 0

The development of a killer application will be more beneficial to crypto-currency than SEC/ETF approval. Killer app will spike adoption and crypto use and price

coinstalker23

full member

Activity: 310

Merit: 114

Quote from: Kakmakr on July 27, 2018, 01:48:16 AM

We should forget about these government employees that are playing us like puppets and we should cut the strings and build on our own success. Angry

Sadly to say, This said government officials and US SEC are just maintaining the balance over the fiat and cryptocurrency world. They dont want any entity to get involved on bitcoin and cryptocurrency because of its high risk of money-laundering, scams and fraud.

bucketthechange

newbie

Activity: 56

Merit: 0

Quote from: FXTradingPro on July 31, 2018, 09:08:23 AM

When it comes to exchanges I think we see they can't regulate themselves. There aren't standards of how they should operate to protect the public. We will see a template at some point on how the brokers and exchanges should operate. We see this with the informal guidance given to coinbase. Hopefully, any regulations we see are only there for the purpose of protecting the public.

I agree. The exchanges will need some organization for consumers to be fully engaged with them. Some simplification will be needed. Point of entry will require guidance and coinbase is a great start.

bucketthechange

newbie

Activity: 56

Merit: 0

Quote from: FXTradingPro on July 31, 2018, 09:08:23 AM

When it comes to exchanges I think we see they can't regulate themselves. There aren't standards of how they should operate to protect the public. We will see a template at some point on how the brokers and exchanges should operate. We see this with the informal guidance given to coinbase. Hopefully, any regulations we see are only there for the purpose of protecting the public.

I agree. The exchanges will need some organization for consumers to be fully engaged with them. Some simplification will be needed. Point of entry will require guidance and coinbase is a great start.

Mabinat

jr. member

Activity: 140

Merit: 1

unfortunately we can not push the market itself upwards so we have to wait for the decision of the commission...

Masatos

jr. member

Activity: 182

Merit: 1

everything will benefit from this, so it seems to me very good if new investors come to our market and do not consider themselves to be puppets

perova93

member

Activity: 238

Merit: 10

bitcoin is no longer just a childish prank, but a serious world payment system! the entire crypto world needs state regulation, only so will the crypto market be safe for all investors and for all people

cahbagus555

member

Activity: 756

Merit: 12

SEC like or not will bring confident to many investor in the world. SEC approval will opening regulation gate from government. If SEC approve bitcoin, trillion dollar will come to crypto market and market cap value cryptocurrency will rising

Thirdspace

hero member

Activity: 1232

Merit: 738

Mixing reinvented for your privacy | chipmixer.com

having SEC approval will make bitcoin (ETF) as a legitimate investment product
it opens up a lot more doors for bitcoin adoption and acceptance in other countries
it will also attract new investors and most likely push bitcoin price to the new stable price level

dimastegar

sr. member

Activity: 798

Merit: 251

Small Trader

I have never been transfixed by news from the SEC. And I'm not fixated on ETF proposals either. The most important thing for us is that we still have coins to trade.

nazaididuan1

jr. member

Activity: 350

Merit: 1

The Bitcoin ETF requires the SEC to prove its legal status!
Only with legal status, BTC will be accepted by more people, and there will be a wider market!
BTC and cryptocurrency will get more people to invest!

Camster

member

Activity: 180

Merit: 10

Quote from: Kakmakr on July 27, 2018, 01:48:16 AM

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin. Angry

We should forget about these government employees that are playing us like puppets and we should cut the strings and build on our own success. Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them. Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

Amen. Far to many people on this board are looking to the government for permission to do anything. If we simply ignore them and go about are business they lose all power instantly. The only power they have is the power you freely give them. Bitcoin will win the day because of its usefulness not because of what some mouthpiece says.

BitHodler

legendary

Activity: 1526

Merit: 1179

Quote from: ?? on ??

The reason for an ETF approval is important because it would add more reliability and safety to bitcoin but mostly reliability.

Not really. Bitcoin has grown from nothing to the worldwide phenomenon that it is today without an ETF and it will keep doing so. Bitcoin's reliability and safety are based on its network and in that we can trust completely.

We need world wide user adoption and not silly tools for institutions to terrorize our market. I'm happy to see the SEC not willing to approve an ETF, but I'm realistic to understand that it will happen eventually.

Quote from: ?? on ??

The role of SEC is to protect its investors and they are just concerned about all the hack and manipulation caused in the market. Sooner or later, bitcoin will get ETF approval.

The role of the SEC is to grant itself enough power by not letting other assets grow out to rival their selected elite industry. It's completely rigged and they only use investor protection as excuse.

EweCoinEwe

newbie

Activity: 22

Merit: 0

Only "hold" will not solve the problem of cryptomarket. The launch of ETF will ensure the inflow of new large money into the market and will win the trust of traditional investors.

richardsNY

legendary

Activity: 1232

Merit: 1091

It's always the few versus the many in cases like these. The few are trying to fight for utility adoption, while the many doesn't care how the price goes through the roof as long as it happens. Even without an ETF, the utility has little value to most people because of how crypto in general goes through mad bull runs from time to time. Last year's bull run is the prime example of how it attracts utter noobs not caring about utility and risks as long as they think they can profit from this industry. It's not for nothing that the altcoin market has been pumped up last year, and even with today's 'lower' prices altcoins are still overpriced.

KingScorpio

sr. member

Activity: 1470

Merit: 325

Quote from: Kakmakr on July 27, 2018, 01:48:16 AM

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin. Angry

We should forget about these government employees that are playing us like puppets and we should cut the strings and build on our own success. Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them. Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

the people are money earning cattle for the elites, they dont matter, same is for bitcoins centere.

HeRetiK

legendary

Activity: 3150

Merit: 2185

Playgram - The Telegram Casino

Quote from: 1Referee on July 31, 2018, 01:03:31 PM

The thing is that we can't prevent wall street from entering, but at the same time wall street can't prevent Bitcoiners from using Bitcoin as they have always been doing.

Think about it, nothing will change fundamentally, just the price will keep increasing with how institutions pull out their big guns and pump Bitcoin beyond anything we can think of right now. Higher price means more miners (hashpower) being added to the network making sure that Bitcoin's network becomes stronger than ever before.

The only thing they are doing is feeding Bitcoin and making it a more powerful beast that is too strong to take down. People need to grow a thicker skin and look through all this circus. With or without ETF's and wall street on board, Bitcoin is and remains Bitcoin. Wall street can't bribe Bitcoin's main developer because there is none, which can't be said about ETH, XRP, BCH, EOS, etc.

I fully agree with your post except for the last bit about wall street not being able to bribe Bitcoin's main developers.

Sure, Bitcoin does not have the cult of personality of ETH or centralized control such as XRP, but Core's central role in Bitcoin's development is hard to deny. As such Core could become an attack vector for wall street's influence further down the road. In other words -- stay vigilant.

That being said, whenever one feels that Bitcoin is taking a turn for the worse, the solution may just be a hard fork away. Can't get much freer than that.

Topic: Why wait for the SEC? We are not their puppets on a string. (Read 398 times)