Bitcoin Forum

http://satoshibonus.blogspot.com/2017/03/buy-and-sell-ethereum.html


US Securities and Exchange Commission (SEC) rejected the Winklevoss twins’ Bitcoin ETF application late on Friday, cryptocurrencies reacted paradoxically with an impressive show of strength.

I assumed this was in the bag; this is rather disappointing. What was the Stated reason for said rejection? And I wonder if this is the sign of a more bank friendly political climate (notice the roll back of Dodd Frank, and the loosening if regulation on Wall St). I hope we don't lose progress with the current administration.

Bitcoin is rejected, but it happened opposite to the prediction made by most users as well digital currency enthusiasts. But to the same opposite to the prediction of price drop the price have been moving forward around $1200+

Reason  :

Bitcoin need more time to Mature + Need to control over this currency

You can forget about the ETF already, it happened, it's past, lets look at the future, and the future is march 30th, ETF called Solid X or something, by some guys that I have no idea who they are. I would like what do you think the market will react to that.

Almost on the community does already know on this event and there are lots of threads expressing the rejection of SEC and we should really need to move on its done already and we cant change their decision.Even they reject bitcoin it didnt affect too much the price,it does drop but now we are up again and climbing to the moon.

Exactly, let's forget about ETF. Nothing has happened, nothing has changed, a lot of drama and hustle for no reason at all. Market has shown that it is stable enough and capable to take such things without major distractions and that is good so users don't need to point that out anymore.

Nothing bothers BTC users. It didnt even affect the BTC price. From that itself we can understand that. Offcourse minor variation was there.But it regained its glory. I personally thought its price would fall to 900 dollars and ethereum and monero price will rise.But nothing like that happened.Lol

Even me, I had this in mind over the weekend that what if its being rejected and alas it came to pass but I guess its actually a test on how strong bitcoin is really is and this have been garnered over the years in the sense that if it were to be years back, I am sure with news like this the price would have came crashing that might even take more months to recover but alas we are still standing and its still good news all the way...

The bridge needs to be gapped between Fiat and digital currency. ETF will accept bitcoin, it's just a matter of time.

Why do we need the government's support anyway? Bitcoin is an underground project which needs to stay underground. Making it mainstream may pump the price for a short time but in the end it will do only harm. When the average stupid Joe's start to use bitcoin and lose their life savings they will blame that who made it legal to use. In the end, the govs who made it legal will eventually ban it. This shit is not for average people.

Well, it is a shame making such opportunities with bitcoin, though we can still continue this simple network with us simple users. Bitcoin may be accepted in the future, it just not now, and even if it did not accepted again in the future, still be using it.

You are late to post this OP. Much have already been discussed about this ETF getting disapproved including the effects/non-effect to the price and moving on with the other ETFs to come.

ETH and DASH is pumping hard after the ETF got declined, other than that there is no reason for them to pump like this. The one who are buying at the peak price should be careful about the upcoming dump from whales.
Bitcoin have really good support at $1200 level so we can expect another bull run and blood bath for alts.  ;D

Bitcoin is a level playing field. Cheat, lie and stealing doesn't work. Maybe government should try something other than cheating, lying, and stealing.

why bitcoin rejected ETF,,  :'(

Price dropped dramatically for the first 24 hours then started to recover.  We can say that the rejection have short lived impact to the Bitcoin price.  And the recovery show that with or without ETF, Bitcoin can thrive.  We can see it on how Bitcoin Price is staying at above $1150.


Mostly because of the history of being unregulated and the inconsistent stance of the proposal on Fund securities.

The aftermath can be seen by looking at the altcoins. They're rising in price very fast, which makes me want to invest in a few of them some dozens of bucks. At the same time I am pretty worried because this could be a bubble that could burst. Remember Bitcoin's 2013 rally? This might be a move made by people scared of this decision because they have no idea where the Bitcoin price will be driven. You know, when you're scared you don't really make the best decisions so you do the first thing that comes up in your mind. People are changing from Bitcoin to altcoins, either partially or totally.

I do not know why you called altcoins rising as aftermath of Bitcoin ETF being rejected.  I just can not see the dot that connects the two event.  Aside from that not all altcoins are rising only a few of thousands of altcoins out there are increasing in price.  And how could they be sure that an altcoin is a better choice than Bitcoin? Bitcoin economy is way better than any altcoins in the market.  I would have understand if people converted BTC to fiat currency or any other stocks than cryptocurrency.

What a big fucking surprise. A lot of people involved in the decision making probably doesn't understand how it works anyway. Moving along.

The market price of bitcoin could have pump up if the American security and exchange commission decision or news was in favour of ETF Application. The reason given why ETF could not be approved was not strong enough to affect the bitcoin market price negative as the price has regain it strength after two days.

Bitcoin ETF was rejected is not end the world, still there are value in bitcoin,
bitcoin's price down it is just fluctuation and be needed by traders for making profit,
bitcoin will be survive without approval because the bitcoin depend on the comunity.

eft rejected bitcoin not the contrary man, they rejected bitcoin mbecause it's not amture enough for them, not enough regulation, that can make investors risk their money, they said they want to protect investors from risky ivnestments

I'm sure they understand it perfectly. But if cryptocurrency becomes the norm, they lose all control.

Currently they have the power to influence interest rates and adjust the printing of USD to control the inflation in the US. Through this they can post-pone inflation or a recession. This can be played in their advantage in international affairs as well as domestic and if they standardize Cryptocurrency they lose their most powerful weapon, the economy.

correct. I think bitcoin rejection occurs only this once. perhaps when at another time, perhaps in a few years from now, the ETF will be received. Well, it may take five years or less. I believe they are also currently using bitcoin, but I guess they think that bitcoin is currently not enough to be accepted in society.

Because they now have the ability to control production of their currency to influence inflation and postpone a recession to their advantage whether it be for international affair purposes or internal....with a standardized cryptocurrency the power goes to the people completely....and this can be a good or bad thing for the people but most definitely bad for the government.

I agree but how long a time are we talking about? We need solutions to fix pressing issues and not waiting times.

as if it was the first or the last time ETF was rejected
it has been three or more iterations already,why this had to make any substantial impact on the market price?
at least this time analysts that were giving 30% chance of approval were right for a change
lets wait for the next application by Winklewoss

There is nothing can be done this time since it was already rejected, but nothing is going to happened as you can see the price is not fall to low and now already bounce back and become more expensive, so nothing to worry

I don't know why some people are surprise by SEC decision maybe because of the Winkelvos twins involved. Bitcoin space is very difficult to regulate especially now that off exchange trading is on the increase

Gold have ETF.
Bitcoin don't.


And ... gess what ? http://imagizer.imageshack.us/a/img923/3742/8s7Xdd.gif

http://imagizer.imageshack.us/a/img923/8350/lt9jrK.jpg

You must add grayscale on your post.


Read this and you will be understand.
https://www.sec.gov/Archives/edgar/data/1579346/000119312513279830/d562329ds1.htm#tx562329_4

There are more ETFs coming up though I find it unlikely that's they'd get approved. It's obvious that they don't want something that they'd have a hard time regulating. Of course they'd just say that they are just protecting the public. As if people will not invest in bitcoin without the ETF. Well if the next ETF that actually have insurance get rejected, I think I would not be able to believe their excuse.

This is not good news, but look at the price movement bitcoin is currently less affected. bitcoin now getting stronger and not easily affected by negative sentiment.

Bitcoin cannot be regulated, controlled, or surveyed and those are features, not bugs.
I thing Bitcoin will end-up regulating governments instead of the other way around. It's just a matter of time ;)
This ETF idea is not where Bitcoin is headed. It could have been nice because the fiat money coming in would have raised the price. Besides that, I don't see anything to "cry about" in regards to this ETF's failing to pass.

Bitcoin ETF is rejected good for bitcoin because of it, bitcoin become more famous and the price going up again
because many people know, learn about the bitcoin and make investments into bitcoin,
bitcoin just needs approval from the miners no other people, bitcoin will stay run as long as there are comunity, miners
and users and no body cares about this rejecting.  ;D

gold without the eft would be sitting at 1/10 of the value, it was make it worth so much, now imagines if bitcoin had the same treatment, the big money influx from investors with high money liquidity would increase the value tot en fold

the good stuff about the EFT was that it would be available in the financial instrument of any bank, making it far easy to invest in bitcoin for those that are reluctant

add to this the better regulamentation and trust that would be created with the EFT, and you have pretty much a 10k-100 BTC there already

well, in my opinion for what happened in the sec it was a good news for us, even they rejected it. Why? because of sec decision isn't it is shows that bitcoin cannot be control by any government which bitcoin proved it only. And besides, for whatever value that bitcoin has right now it is because of the demand of the user and the investors who invested into bitcoin not for any government approval.

Well even if we don't know for sure what is the real reason behind the said rejection I think that it is a governmental issue and I think bitcoin was getting in their nerve recently and would not allow any scheme that does involves bitcoin I think this is not the only issue that bitcoin was rejected.

Disappointed with the decision by the Securities and Exchange Commission. But seriously, I don't believe that this is the end of the road. If the ETF can't be listed in the New York Stock Exchange, why can't the Winkelwii try to get it listed in the Tokyo Stock Exchange or the Shanghai Stock Exchange? Other interesting options are the Hong Kong Stock Exchange and the smaller Shenzhen Stock Exchange. 

Perhaps my opinion is not objective, but I still think that the answers will be the same and there is no difference what kind of exchange it makes. The result will be the same.

Yes, I just don't understand bitcoin is rejected sounds like bitcoin will be die,
the fact bitcoin is still alive on heart of comunity bitcoin until right now
we are like people who don't understand what is mean bitcoin and revolution of currency
because of this rejecting bitcoin be more famous and make price going up again.

Well that is a part of bitcoin, and any rejection with bitcoin doesn't mean bitcoin would go down, it is not bitcoin lost if they rejected it, it is their lost that then don't accepted it, and look at bitcoin value now do you think anyone would think twice in accepting it,

Actually the Winklevoss ETF rejection just made a positive mark to Bitcoin.  Enthusiast are now been reassured that no matter what kind of rejection from the authority Bitcoin receives, it will still retain its value and even getting stronger.  I bet those who think that Bitcoin will crash is now having a second thought about their belief.

They are eating their own thoughts as of now when they saw the current price of bitcoin which totally goes back up again after the rejection which means bitcoin doesnt depend on those events and no matter how they reject bitcoin it would still be the same the price would always goes up as long the adoption is there.

Yes we are as comunity bitcoin will make sure bitcoin will be alive and there are values in bitcoin,
since I knew about bitcoin it is still same until today the developers, miners, investors include comunity
that make bitcoin fluctuation and alive, because bitcoin is new revolution of currency in the world.

I have been following this topic and I think it actually not affecting the price of bitcoin (ignoring newbies panic sell). There are some guys going to apply for ETF's approval but I think we already know that what's the result is going to come out unless we specifically address the queries raised by the ETF before applying.

Just sharing similar topic with more opinions about the issue for reference : https://bitcointalk.org/index.php?topic=1821815.20

The day bitcoin ETF approves is the day that bitcoin is no longer decentralized, people are still ignorant and can't understand what it means to print(generate, mine) your own money.

I think even if the ETF reject the bitcoin it will only cause the price to go low for a while,
And after that I think the bitcoin will once again rise its price,
As long as we are using it and buying it the bitcoin will surely live.