Bitcoin Forum

Hello Everybody,

We see the price of Bitcoin rise and fall since the start of the year and there are a lot of factors driving it. Generally, it is affected by its rate of adoption, trading/gambling markets, investors and global authorities and issues. We specified three factors of which we think made a big impact on the price of Bitcoin today. One is obviously the recent Bitcoin ETF rejection and other things are mentioned on this article (https://www.bitcoineverything.net/top-3-things-that-are-affecting-btc-prices-today/).

So, what can you say about Bitcoin ETF? Is it better rejected or approved? What do you think guys?  ???

The ETF is useful in the way that it would allow institutions to take a serious position into Bitcoin (even though they would not directly own Bitcoin). It would help the price to move faster to higher price levels, and thus be beneficial for basically every holder. But if you look at how things are without this ETF, then it won't have a single impact on how Bitcoin will keep moving further. It's not that this ETF is the only thing for people to hold on to. As long as there is demand, the price will continue to increase. Demand is all that matters. It makes everything else obsolete. Only important thing is that we need to up the block size as it's clearly visible that the demand has greatly outgrown the current poor 1MB cap.

Of course it will be better if the etf accepted it, it can boost bitcoin price and popularity, if etc accepted it we will see another price rising maybe it can reach until 2000$ in a short period and can stable for a long time and it will give a lot of advantage for investor

It would be better if the ETF has been approved because it can help to attract more adopters and as well as newcomers that are willing to invest millions of dollars but let's just move on and forget about this matter. There are a lot of things to work for with bitcoin and let's focus more on the adoption of bitcoin.

It is better rejected, bitcoin still has a very small market cap, a fund like this would mean Wall Street having power over bitcoin, because whatever chain they say it's the true one would be the one with a lot of money behind it.

They could put a lot of pressure over businesses, developers and miners, better not ETF for at least 3 more years.

we knew about potential etf upsides, but the downsides didn't seem to be explored at all. i'm sure there were some. we're never gonna know. perhaps the obvious one is that it took money away from the bitcoin market never to come back.

Of course if it would had been accepted than it would have helped bitcoin a lot.
The prices of bitcoin would have rose a lot . But unfortunately according to the recent news.
ETF got rejected but still the prices of bitcoin despite of ETF rejection managed to cross 1200 USD .
This shows how strong bitcoin really is

Strange I can't see the article the site won't load for me anyways back to your question.The price went down yes but recovered in a few days after the decision was announced so I wouldn't say that it gave a big impact or one of the three factors. Imo it's better rejected because bitcoin is still facing some problems as of now like the network getting spammed.

Price wise ETF is better approved than rejected since as other here said, it will boost Bitcoin price and make people look at Bitcoin more seriously.   This will also bring in new funds from the hesitant observers making then convinced that Bitcoin is not a joke thing and begin to adopt it.

We do all know if ETF have been approved then we would really witness the sudden price increase since adoption and acceptance would be there but just as expected they rejected it because of bitcoins features and they dont really like the decentralized thing but it doesnt matter though because even they rejected it bitcoin could still able to manage to increase its price back no matter what.

Price may pump hard if ETF got approved but it got rejected and i don't have any hope that in future other bitcoin ETF will get approved. But even this rejection can't harm or stop the natural growth bitcoin have right now. Price will keep rising due to decreasing supply and increasing adoption/demand of bitcoin.

We all know the effect of ETF if it gets disapproved but we do not know what will happen if it gets approved. Everything we say here about the effect if it gets approved are all speculations, because we have no basis yet, No ETF has been approved before so no basis to make judgement. I doubt there will be an ETF to be approved in the near future.

I don't think Bitcoin was meant to be used in institutions but in situations where your anonymity is the one that matters the most. The ETF rejection was better in my opinion because otherwise steps would be taken until well have the least anonymity possible. I prefer not having to deal years later with the government that wants to know where is all my Bitcoin money and to impose taxes on it.

Way better if it is accepted, it will be a good asset for everyone who likes it.

It is better if ETF was approved as bitcoin will have another jump in price because of the new funds coming in ,and bitcoin will gain more popularity. But as you can see etf was rejected there's still a lot of demand for bitcoin, the price is stable and keep growing and i think this is good enough for now.

In my opinion it was better that it was rejected. Yes, the sudden price spike would have made some people a bunch of money, but they would

have came in and bought a bunch of bitcoins {shares in bitcoins} and this would have been only temporary. Then they sell, take the profits and

run. It is a free market, but do we need brokers hyping up the price and selling huge chunks and making the currency even more volatile than it

is now.  ::) ???

Even though ETF got rejected ,
but still the prices of bitcoin despite of ETF rejection managed to cross 1200 USD .
Also we can see that the rate if price rise of bitcoins ,
Has always been more than its price fall.
And also it has reached a fucking 1200$,
It is not at all less from the time when it was not even 1 $ for 1BTC.
So we can never say that bitcoin has even been rejected among the people anytime.

And it was approved, we will definitely see a jump in prices because a lot of cash will flow on the bitcoin economy. The only effect I see in the rejection had "dashed" the "hopes that bitcoin would move towards mainstream finance. Meaning it will be difficult to be mass adopted, however, I still see a good future in bitcoin and this ETF rejection will only delay the inevitable, which is bitcoin will be accepted globally.

Of course bitcoin ETF is better approved because there are valid rules for the people, investors, traders
 who will make investments into bitcoin, they are not fears investments into bitcoin
also bitcoin's price will going up although right now bitcoin is still survive without approval,
but more good if bitcoin ETF be approved.

if EFT was approved we wuld sitting on 10k value right noe, how can you think this is not a good thing? EFT would bring very rich investment in the bitcoin ecosystem can't be a bad thing, but despite thi bitcoin is holding strong i like it, this mean that bitcoin can grow without anything supporting it

Those people were trying to make Bitcoin Equal to the dollar, which some people agreed and disagreed. For myself i dont agree on this. Bitcoin should be kept as a separate entity and it is for sure not be good.
However we have seen a high price increase to 1300$ at the time this news came, It was strange for me also.

Bitcoin ETF would be better approved atleast for now, the rejection wouldnt really affect Bitcoin value but for the underlying market structure per-se, at this moment the  price will have to fall since the market structure has not been well shielded against the effect.If it be rejected it wouldn't have a long term impact

But interestingly the rejection of ETF worked in favor of bitcoin to showcase how strong the faith of bitcoin investors and how hardly they prefer to hold bitcoins for their future. The stable current prices are showing the on-going sentiment of bitcoin adopters which will definitely attract new people to start believe into bitcoin ecosystem.

You don't understand how things work, and also don't understand what an ETF is. If you buy yourself a certain postion into this Bitcoin related ETF, you don't actually own any Bitcoins, and thus it has nothing to do with the anonymity that you are referring to. Also, if person A invests in this ETF, it will have zero influence on person B that has not invested in this ETF. With or without ETF, you can just continue with whatever you were doing and still hide your coin stash from your local government.

For some people in this thread, the unique argument for acceptance is "yes because bitcoin value in USD or oder trading pairs will be worth more".
Bitcoin has been more than 8 years without the Winklevii ETF. Has there been a problem during these years?

BTC/[insert_any_pair_here] rate It's not the only thing that matters.

ETF rejection is obviously bad but that is not the end of world.Although if btc had ETF approval,it is a different story and even a single bitcoin holder would be a millionaire.

yes we do not need for artificial increase in the price of bitcoin, because there are more chances that if the bitcoin price will dramatically increase then its price can fell down also with the same rate.

However, what do you think about the possibility of Bitcoin being regulated by the government. Some people think this is a little bit scary. :o

IMO it doesn't really matter now that ETF has already been rejected, new solutions will arise and we'll have to come to a decision on those too

i think ETF approval could be a good thing for bitcoin. but it never could have been a life changing thing! the effect being good could have been small.
and i say it could have a positive effect because i believe it could potentially change the view of people about bitcoin easier. most people see past the bullshit and FUD but a lot of them are also falling for it. and bitcoin officially entering markets could have been good.

I personally don't see it as a problem since we can't expect the governments to sit back and look at how Bitcoin is growing larger without putting serious regulations in place. Bitcoin offers people freedom in decentralized form, and exactly that is something that gets all governments worried. In most cases the regulations put in place have no real effect on people using Bitcoin. The effects of these regulations might be felt when you try to sign up at an exchange, where they want more personal information from you than ever before. In some cases funds can be put on hold until you (re)verify yourself. That's why P2P services as LocalBitcoins have seen their volumes increase significantly.

As a bitcoin supporter and I will glad to see the bitcoin ETF was approved, but it looks like us securities were having the different thought with us. But we still have a chance to see solidx and grayscale.
https://www.washingtonpost.com/news/get-there/wp/2017/03/10/sec-rejects-bitcoin-etf-application-from-winklevoss-twins/

The fact that it took four years for the SEC to still disapprove bitcoin would already put bitcoin in the radar among investors. They had to turn it down for some reasons but that might change a few years from now when bitcoin is already at a very high price. People from SEC will be singing to a different tune once they see that bitcoin is really a great investment for the long term.

i hope you know that they didn't reject "bitcoin" they rejected "winklewoss ETF" and these two are different!
they didn't accept the proposal that those guys had to add their ETF and it has nothing to do with bitcoin itself and whether SEC approves of bitcoin or not. and this means even if bitcoin price goes up high, they sill are going to reject that ETF!

Investment on bitcoin is somehow new to SEC and its high volatility is a freaky one compared to the prices in the stock market. The rise and fall of bitcoin is abnormal and it happens in wide ranges such as from 700$ going to 1000$ and it will go back to 700$ again. Stock commodities volatility doesnt go in that bracket in a short time the average is just from a centavos to one dollar in a week.

Its better for Bitcoin to be rejected. We will all be regulated in the end if if were approved. Its not going to have a value of $10k per bitcoin, that's not going to happen. have you seen the effect already?  There will be another attempt for it to be approved. If the date of it approaches,  these investors will be moving their money again to altcoin like ETH and Dash. Its never a good thing for us, pretty soon they will all be sending their money to coins concentrating to anonymity features.

Rejection is good, now is cheap, buy more, we still have time, if bitcoin is approved, btc will be 2000 usd.

bitcoin was designed to be indifferent to gov, regulations etc, for it to be approved by SEC for an ETF it has to lose its whole reason for existence.

thats lost on 'the bitcoins going up in fiat price yahhhhooooooo' crowd that plagues this crypto scene.

We have seen different reactions to ETF decline, from moderate and to totally ridiculous statement.
There is no one ideal commentary for this case. But I want do debunk one idiotic myth mainstream media reports:
that Bitcoin is losing 'legitimacy' due to the ETF - it is total bullshit, how can you measure worth of something so unique?

Andreas Antonopoulos:

"If you measure bitcoin's success by the approval of the incumbent and obsolete industry it replaces, you're doing it wrong"

Source: https://twitter.com/aantonop/status/840310679076777984?ref_src=twsrc%5Etfw (https://twitter.com/aantonop/status/840310679076777984)

all we can say at this point is that the approval of this ETF could have been better than the rejection of it.
but being rejected nothing is going to change for bitcoin, we never needed it in the first place. it could be a nice "option" for certain people out there to invest in bitcoin and show bitcoin in a positive light to the world as a side effect. but bitcoin should always remain decentralized and investing in it should also be done this way.

The decentralization is going to be just a lie when ETF is approved. Its always going to be monitored, your stash and the transactions you will be doing. The recent rise of altcoins is just one of the effect. Its the opposite of what you thought could happen. Bitcoin holders will soon drop what they have to move to USD because there is no difference to it anymore.  Exchange sites monitored us loosely for now but once its approved, the registration itself might probably ask you utility bills, passport's scan and a selfie.

the thing is though if its to be used as a true p2p currency then bitcoin should also be indifferent to exchanges.

Generally speaking, the approval of ETF for BTC would provide new opportunities for the general public to pour their investments into BTC, and will provide a big bump in its price in the long run. This will also provide different opportunities for BTC to expand its reach to the general masses who is not yet aware of BTC. But, as we all know, it got rejected. We saw a big dump after the decision hits the news. Currently, BTC's price is increasing steadily and this just only proves that the BTC community is well-established and will not budge even if with bad news. Either way, being approved or rejected, BTC will still strive to fulfill its basic role: decentralized cryptocurrency.

I think that rececting ETF is better for bitcoin, at least at the moment.
An approved ETF would draw too many investors, what would increase the price too much.
When the price is too high, it's harder to get new people into bitcoin.
And I like a price increase based on ordinary people better than a price increase caused by professional investors.
Because once people are in, they usually don't leave that quick again. That's a steady growth!

I think it will be better if they approve bitcoin ETF. The prices will sharply increase and as you can see, ETF can be considered as one of the important impacts on Bitcoin this year. However, if they do not agree with it, it is still ok. Bitcoin right now have its own places and nothing can not knock down it anymore. We can wait in order to see the prices increase and the adoption too. We have waited for 8 years, why don't we wait for another 8?

It is better for bitcoin ETF to be approved because there is a high chance for the price to goes up very high like it is easy to reach $2,000 price per one bitcoin if ETF is approved because there is a lot of possible big capital investors in bitcoin and it will create a huge demand for the market and lessen the supply in the market so easily that can make the price to skyrocket very high.

For me, I will say its for the better because I dont think bitcoin community is ready for such massive exposure and there is need to still keep the house in order before going that path. Also, it also serves as a test for bitcoin that it sends a message that whether they like it or not the confidence in bitcoin is increasing on a daily basis because if it had been positive and we witnessed a surge in price then we will inteprete it to be that its because of ETF and the real strength of bitcoin wouldnt have been known.

Better disapproved so that big wave won't happen again. Scared the living sh1t out of me.  ;D
Well, actually we dont really know what could happen if it is approved. Will there be changes or it will stay still like what is happening now.
I bet that dump just happened just because of panic and this kind of decision might happen again.
So we better learn to just stay calm and let the bitcoin users do the flow.  ;D

correct. there is no point to panic. I feel that when bitcoin is received, it will really affect the price of bitcoin. I know that very many people who want to take advantage of it. but, when rejected, everything is so canceled, and probably panicked.

in fact i have no idea about it that either ETF approval is in favour of bitcoin or not, but as i can see that most of the ops are consider it as good for bitcoin so i will also pray for a better decision to be taking about ETF.

I think that is better that it was rejected, due to the control a centralised pot of bitcoin could have over the whole community.  and the fact that it hardly made a dent in the price is a bonus.   RESULT :)

If that Bitcoin ETF was approved then there would be a huge amount of money flowing into Bitcoin Exchanges only because of people wanting to make money and that is about it. There wouldn't be as much people trying to improve Bitcoin by building Altcoins and the sorts testing Blockchains and transactions. Instead of tiny pump groups, there would be really greedy people trying to milk Bitcoin/Altcoin Exchanges.

Bitcoins ETF is good for publicity, that is the only thing that it's good for right now.

I just came to know about the rejection from the U.S. Securities and Exchange Commission, on the attempt to list the Bitcoin ETF. I was quite disappointed with the outcome. But still, I am glad that the exchange rates are holding strong. The excuses given by the Securities and Exchange Commission was pathetic. They rejected it just because Bitcoin was unregulated.

There is another Bitcoin ETF decision coming this March 30 according to Coindesk (http://www.coindesk.com/another-bitcoin-etf-deadline-is-already-approaching/). It is a proposal from SolidX. We do not have much of the details yet but would the effect be the same with the previous ETF decision. :)