Bitcoin Forum

https://i.redditmedia.com/EpY-4HcX8j_pGhyQSsLmDifqabOUUyBrz8fpgJCibws.jpg?w=514&s=dca5f3ec3837bb0adec442eb76b2d2c9

It doesn't matter what happen, in the long term, bitcoin will only go up.

So if the ETF is dennied, this means we get to buy more cheap BTC.

If the ETF is passed, this means we get to enjoy a trip to $3,000+

Also remember that there are more ETF comming. If its not the Winklevoss, someone else will get it.

Nice pictures.Are they copyright protected?
This ETF approval looks like a win-win situation, but we have to be carefull.
If this ETF is dennied,perhaps all the future ETFs will deny bitcoin.
Anyway,Bitcoin growth doesn`t have to depend on  approvals.BTC will continue to grow with or without those
ETFs.

It is best to sell half of your bitcoin and hold half on situation like this. If ETF got approved we may see really hard pump but if got denied we can buy more with all those fiat we have after selling half of our bitcoin when price is 1200$+. I have some buy order at around $1000.  ;D

how I wish ETF will be Approved by security and exchange commission as that is the only reason why price should pump to over $2000 at this particular time. If it not approved bitcoin price might be push down to $850 as this is a very strong support level. In any way like op said the buy order at the dep will move bitcoin price up again. Goodluck to all of us.

Bitcoin will pump up whether ETF will pass or not. And it will not crash to 850 if it did not get approved. It may drop a bit but not below 1000 level. Our support is already above 1100 for the past month. Look at the charts and it is playing at 1180 to 1190.

No doubts. Again it is matter of time. If Winklevoss will find their success with their applications, there will be more companies will be interested to issue their branded ETFs on bitcoins. We may see $3000 or $5000 levels in coming months in those cases. Or by end of this year. No big differences.

What would be the point on the situation of ETF gets approved and only your half of bitcoins in the race ? I have arranging external funds if I will be getting buying opportunities below $950 price levels. Same way I will buy more above $1600 levels.

Exactly. Just hold of half of it and see how the market goes. Because if the SEC doesn't approved it. We will see the price plummeting at around $900 then that's the time to buy them, hold, till the prices slowly rise again "Buy Low, Sell High". However, if approved then we will see the price rising up to the moon. But whatever happens, I still believe that is it worth investing because the price is slowly rising and its been more stable as compare to the previous years. IMHO.

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved.  ;D

Some of my thoughts. We will see if they come true:

1. If not today, ETF will be accepted at some point in the future. It is only a matter of time. Take your time to collect more coins.
2. It is not like markets will crash, majority of traders won't be disappointed by SEC's decision, since experts estimated odds of approval to be less than 30%
3. In case of approval we will see max $1700 BTC, $2000 this year is unlikely to happen.

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

Your pictures though simple but is very helpful to clearly picture out the possible impact of ETF on bitcoin. But as you said and I agree that whatever the decision of the United States Security and Exchange Commission regarding the approval or disapproval of the proposed ETF bitcoin will still grow in value. But it would be very beneficial if ETF will be approved so that bitcoin can really increase in value as its market will increase due to ETF.

Whatever is in my wallet anyway I can afford to lose so hodler still.  ;D There might be some drop in prices after ETF denial but I don't see any large or prolonged fall considering the price has steadily been increasing without talks of this ETF. And from what small bit of news I read, there are more ETF proposals slated for approval. If I remember correctly there was one that has some sort of insurance for the bitcoins.

Regardless, I'm not getting nervous.

That seems to be unlikely

Bitcoin can of course plummet to 900 dollars per coin (or even below) but surely not because of Bitcoin ETF disapproval. This disapproval is kinda already priced in, and the prices which we see today (1150-1200) may be a new support or bottom if you please. Someone already knows the decision that the SEC is going to take, and they likely already sold their coins earlier in the week, but we didn't go a lot lower, however. So there is no reason to think we would drop way below current levels just because the SEC declines to give its consent to this fund

i like the image and maybe that is what happen now, we waiting for ETF decision, and there are many possibility for the result as many of us want the price is increase. but if its down, i think the price will be down too deep and the good impact is we can buy bitcoin with cheap price like cellard said.

I do agree, as long as there are more people believe in bitcoin and keep on using bitcoin then bitcoin will survive and keep on shining in the future, ETF approved or not, we still can make profit from it, so no matter what is the decision, bitcoin will still survive but if it is approved then the price will rise and bitcoin will become more popular

The thread sounded like ETF won't be approved. If I were to choose "moon Now" is going to be the button, but what could be the reason why some will pick Moon Later?
Its going to be fight so weighing whether to stay or not, I'd be sending half my btc to Dash before the decision is going to be final. Some are already preparing for all these as well they are buying altcoins to store their money.  If I can't decide, I'd be buying Tether  ;D

Bitcoin's success is in no way connected to the SEC's approval of this ETF. We have seen 1000's of merchants accepting Bitcoin for their products

through payment processors and it's growing by the day. We can have 1 Killer App taking this to the Moon, once enough people have invested

time and energy developing it. The ETF approval will just fast track this journey for people who are into this for the fast profits.  :(

but it's true that people like to ride the news, this news is very important and can move speculators to invest in bitcoin more, knowing that other will invest for speculation and makign the value higher, this alone is a very good reason for other to invest, still i think that all this guessing about $3000 is too high for me, no news until now made bitcoin increase threefold this will not be the new exception imho

I think your right that eventually we will see a bitcoin ETF and i have read a few articles that have been saying now is not the best time to get one anyway.  If your a hodler like me it dosnt matter anyway im in the for the long run.

Personally, I don't see a lot of sense behind a Bitcoin ETF as such

It is assumed that this ETF would be investing in Bitcoin (as the name suggests), but here's my question. Namely, why would anyone want to buy a share in this ETF if he could just buy bitcoins directly? If you don't have enough dough to buy a whole bitcoin, you can just as easily buy a part of it. The smallest order at almost all major exchanges is around 0.01 BTC nowadays (and at a smaller ones it is even lower than that), so you can buy coins with just a few (dozen) dollars. Such ETF's make sense when you can't buy a stock because it is prohibitively expensive for lay folks to buy just one share of a company directly. For example, not everyone can pay over 200k dollars for a single share of Berkshire Hathaway, but with an ETF that invests in these shares, you can indirectly buy a tiny part of Warren Buffett himself

When I was looking up the prices earlier, I thought the ETF was approved, since I just saw a price spike go to around 1340 dollars on Bitstamp.
Must've been something else though.

I personally would rather see it get approved now, can't wait to follow the hype once it happens.

indicators says its not going to be approved. those users won't be buying something else if they know it would be approved. if it has to be approved to which they want bitcoin to moon, they would have done it long before 2016's spike so they could ride up. almost 90% sure not going to be approved. i wish the other way round though.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

Yes, we need to do the best with the situation we have. Everyone should be prepared for the ETF deny. The panic isn't good, I just hope the traders see there isn't reason for panic, that Bitcoin will continue its way as it was until now. As OP picture says, if we weren't to the moon, we will go later, Crypto-Currency is unstopped now.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive.

What we have just seen is no more than a knee-jerk reaction (as I said earlier)

And most likely somewhat accelerated and exaggerated by manipulators to knock bitcoins from the weak hands with the aim of buying up while prices are low. I guess in a matter of a few days (if not hours) the prices will revert to well over 1,200 dollars per coin (and likely stay there). As to me, there was no real hype linked to the ETF approval expectations (as I also mentioned earlier) since the market expected that the ETF proposal would be rejected. In other words, the price growth we have seen as of recent was organic, not juiced up on rabid hype and mass hysteria

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin.

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

Indeed, it would make it worse

Since there is not a single reason why Bitcoin price can be sustainable in the long term unless there is a constant inflow of new money into the system (either new users pouring their money into Bitcoin or old users increasing their stashes). Without real world usage (i.e. as a genuine currency), Bitcoin is basically still a pyramidal scheme, where the income earned by some comes from the losses of the others. Why do you think the twins so desperately want the ETF approved? Because they have around 100M dollar worth of bitcoins. They would be among the first to profit directly from the simple folks once the latter start bringing their dollars to them

So it turns out that in fact, ordinary people do not need any approval? It is only necessary for the brothers. Simple people continue to use bitcoins, making it popular and without approval

Not only for the brothers. I'm sure they had many wealthy investors lined up to go in. Many people would earn a lot of money if it got approved: bankers investors even small traders and if the price started to skyrocket, holders and small fish like me. This was only one of many attempts to establish a large investment platform. Now it's time to review the documents, and put money to work. Grease the gears of the machine if you know what I mean ;)

It will help people who have a lot of money invested in assets to put some money easily in BTC ecosystem without the need to have a wallet, security etc. It will also give a sence of legitimize to BTC

That's the point I was trying to make recently

You don't need ETF to invest in Bitcoin. It is a lot easier for more or less tech literate (just computer literate) people to buy bitcoins directly than to buy, say, stock. You don't need brokers and as much capital, since you can buy as little as 0.01 BTC (a little over 10 dollars). But with Bitcoin you are on your own, i.e. to accept all responsibility for all decisions you are going t take. On the other hand, allowing ETF could potentially bring into Bitcoin the money of people that otherwise wouldn't want that (e.g. pension funds) which could just destroy their pension plans

People who have a lot of money could bitcoin without much hassle themselves and get done with that


This is all empty talk

Even if this pathetic ETF was approved all the folks you mention (especially, big fish) wouldn't give a fuck about it. What does prevent the Winklevoss right now from trading their own bitcoins (all 100M dollar worth of them)? Do they need an ETF approval for that? Their logic behind the ETF application that they filed is as clear as a day. They just want profits from their Bitcoin investments (which is understandable). Apart from that, the wealthy investors don't need the twins at all. Or do you really think they would go for ETF if they could more easily go for bitcoins directly and not have to deal with the brothers altogether (read pay them a significant part of their profits provided there should be any)?

Damn right! Bitcoin can work as it had been since time. If can freely be traded for any currencies and can be used to buy goods already. Why is there the need for ETF when all the freedom is already along with it which is why its the very essence we always emphasize "Decentralized".  It kept the price up even with ETF we're still good. We'd just complicate things if they are around. Let the government worry about bitcoin not us worrying about them.