Bitcoin Forum

Today there is a piece of good news, the Canadian assets 3IQ corp is now supporting the use of the bitcoin on their Toronto Stock Exchange (TSX) after getting the approval on the day of April 10 the twin entrepreneur "The Winklevoss twins" support the exchange of this bitcoin fund. The TSX is one of the largest stock exchanges in Canada that can gain more than $97 billion of there trade. What is it all about? This helps a lot to the market price of the bitcoin because if one of the exchanges accepts this kind of transaction many people will now buy a lot of coins with their fiat currency and it causes to increase rapidly the bitcoin. Also, this project gets helps a lot of people to recognize the use and the benefits of the bitcoin, this kind of news will bring up the bitcoin price again.

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This good news will make us become more optimistic about the mass adoption of bitcoin in every part of the world. Canada is considered as one of the first world countries, it is more likely that their economy will soon grow more as they start to put bitcoin into their TSX. It is not easy to manipulate bitcoin because of its volatility but the benefit of exchanging bitcoin can give you a profit. That's true that TSX is one of the most popular and biggest stock exchanges in their country and they will never experience a hard time having a trades. Many people are supporting this TSX and credits to "The Winklevoss twins" for supporting bitcoin.



As that I've said, this mass adoption will make bitcoin more popular and people will know the advantages and benefits of using bitcoin in many transactions. It is easy to use and less hassle as this digital currency is user-friendly and can also give them big profits if you have good predictions. If they will invest their fiat currency to bitcoin then it is a good thing because, although bitcoin is volatile, I guarantee you that it will somehow give you a profit from time to time. Also this will be a good way for the promotion and advertisement of bitcoin.

That is great news for bitcoin. One more give supports to bitcoin, and I think soon, the other will supports too. The mass adoption still on the process and I think we are seeing good progress in this year, especially when we cannot go out from our homes. So the chance for bitcoin and the other coins accepted will be open. But that will need approval from each government and until that time, we can save more bitcoin from now on. We will see new people from that market trying to invest their money in the crypto market too, and that can bring new hope for crypto.

Thats something from Australia.

However, there had been many good news like this in the past but they have not affected the bitcoin price sufficiently enough to move upwards !

AS far as I have experienced there was only one time when bitcoin went crazy and that was in 2017. Some of the striking reasons can be read here : https://www.coindesk.com/900-20000-bitcoins-historic-2017-price-run-revisited

Pretty sure that your news will impact bitcoin in coming days. But for now, market is more or less being driven by Economic Crisis situation (COVID effect).

Forgive my cynicism, but I don't count this as "adoption".  Trading these speculative assets is not the same as transacting with actual BTC.  People aren't learning anything about Bitcoin when they're dealing with something more analogous to stocks and shares.

I guess you have a point. Well they did add bitcoin on their official stocks exchange, but the fact that the addition of bitcoin doesnt mean they are learning something about it hence it more goal is to expand the trading above the stocks they are currently doing so.

I am not negative about this news, but somehow this can wider the visibility of bitcoin as it will be known on their country. Just do hope those can appreciate it are those outside the trading circle and instead focusing on trading it going to use it like we all want. Natural adoption for bitcoin.

And it has nothing much to do with Toronto stock exchange. The company 3iQ created a fund tied to bitcoin and listed it on TSX for trading.
Though it would not directly led to bitcoin adoption, regular traders being introduced to volatility of bitcon linked fund would drag their interest to bitcoin trading itself.

You are right, of course. However bitcoin will already be visible in official circles thanks to this. Then it will be possible to talk about something more.

More visibility means there will always be individuals that will be interested to check on bitcoin. For those who don't have any idea on how to deal with bitcoin, they will start studying it or even search for it. And while looking at this option, they might be drawn to its benefits and advantages. So who knows, with this move, it will attract more crypto users? If the option is already there, then they have the option to try it. They can always go back to their usual method anyway.

Canada quickly develops cryptocurrencies and is positive about their implementation in the common system. Not in vain Canada is considered one of the best countries to live in.

I think it is good news. If it has any positive effect, we will know very soon, just as this action could be repeated in other nations.
BTCitcoin is drawing a lot of attention to investors in the current situation that is not easy. Covid19's effects are already being reflected in the global economy.

it is "mass adoption" if people adopted bitcoin itself and started using that to pay for stuff on their daily lives. but when they are only focusing on trading bitcoin like this case where it is listed on a stock exchange (where people would only buy and sell it not use bitcoin) we can't really get that excited about it. that would just bring more speculators around and could even increase the volatility.

Good news for traders. More people would induce changes in price and would probably boost it up quite well. Still though, I doubt it would induce that much of a change since most traders have probably know how to trade BTC anyway, and this is just adding a new platform for it. Plus, just like what @pooya87 said, this doesn't really introduce any of the advantages that BTC itself has. It still views BTC as an investment, not an asset. I just hope that even with that though, more people would recognize what BTC is. Even if they do view at as an investment at first, as long as their views are widened while being exposed to it, Alls well that ends well I guess.

And what's the difference between investment and asset?People are investing in assets.
Most of the people,who are investing into Bitcoin have expectations about future profits.Buying an asset is buying the opportunity of future profits.Do you think that any investor will buy BTC,just because he likes the concept?No!All they want is profit,and there's nothing wrong with that.
Like other forum members said.This isn't actual BTC adoption,it's derivative trading,which won't help for boosting the BTC price,so I couldn't care less about this news coming from Canada.

i skimmed the prospectus (https://3iq.ca/wp-content/uploads/2020/04/TheBitcoinFundProspectusMarch312020.pdf) but i can't find this basic info: what is the underlying BTC value of a share? it's really obnoxious how hard 3iq makes it to find basic information about the underlying. everything in the prospectus is priced in USD, and the total fund value in the prospectus is obviously out of date.

based on the last traded price vs spot, it looks like ~ 0.0015 BTC, but if it trades anything like GBTC then that doesn't properly account for the premium.

1.95% annual management fee, charged monthly. super expensive, just like GBTC. i suggest holding spot BTC instead.....

We can still count this as good news as they recognize bitcoin and starts to trade it. The beginners will learn a lot from this when they already trade or hold bitcoin. The use of it will comes next if ever they understood the basics and importance of owning, transacting and why many people choose to hold it for long term purposes. Still a positive news rather than hearing negative news about people bashing bitcoin and saying that it's old, outdated and useless.

Fantastic news for Bitcoin and the whole community. One small step towards mass adoption + upcoming halving = Bitcoin turning bullish soon!

For me, this is good news too because it is a stepping stone and introduction to the world of bitcoin because came from the people who are knowledgeable about the bitcoin and become rich they are now using the bitcoin as widely transaction and also it has low transaction fee, and it is easier to unlike the fiat currency ( this is just my perspective only ) also we are heading towards to the world of bitcoin, and we can now make a lot of earnings while the halving is coming, so it is better to be wisely collect bitcoin as much as possible to get more income but still always make aware because the price is still volatile.

It is not about the adoption anymore, if a lot of people value a piece rock then maybe they will also add it to their stock list. It is about expanding in along with the trend, a lot of people called it a bubble because of high volatility rate and the price is very unpredictable due to decentralization but guess what, we have bitcoin for a very long time although the price keeps on spiking but the fact that it is not getting low beyond $3K range is what the deciding factor of it to be added in the stocks.

Well you guys sounds so negative with it, let us just be glad that bitcoin is slowly climbing, I hope other country will come up to this too.

The Winklevoss have been supporters of Bitcoin for a long time, and they've done a lot to promote it. This is a good win for them after all those ETF proposal rejections. I have mixed feelings about it, though. So Bitcoin is now on a Stock exchange, but stock traders are a special kind of people, and I am sure they won't care much about Bitcoin, just whether it's going to rise or fall. And Bitcoin really is not stock... At the same time, Bitcoin seems quite alright whereas stock is down significantly with no prospects of growth in the near future, right? So if this starts working immediately, it could push stock traders to sell what they have and buy BTC instead which could give a boost of price.

Wait. This was done just today? :-[
The price was over $7200 last night before april 10th as this was the release date on to their stock exchange.
Now it is dropping and below $6900 last time I checked before doing a transaction just today.

Fantastic move by the Canadian government to accept the use of Bitcoin in their stock exchange. This is a drive towards adoption and when this happen there with be a grass root adoption. Basically, the year will have a good thing to offer in regard to Bitcoin adoption, hope to see more of these adoption soon with other countries. Hope to see stock traders moving towards Bitcoin to make their gains as the stock market went down.

Such a rare good news those days
It is not necessarily related to this tho. Even in the halving while many people are waiting for the price to rise it just stuck or drop before rising after. Bitcoin price movement is more complicated than it appears  ;)

But it's complicated enough that speculators shouldn't naturally assume that ETFs will guarantee positive movements.  It must be a widely held belief, since people seem to say it in every topic about ETFs.  Hopefully this serves as a wake up call for those people.  

Institutional investors != instant moon

Yeah, it might mean nothing for now but the fact they did included btc on their platform means a lot. A lot, as it would lead into many factors we can't see for now. You know, some stuff needs to have a catalyst, and adoption doesn't necessarily have to be so sudden. Bigger developments isn't all about what's noticeable for now. Hence, still great news for me.

Truth be told, most people who are trading Bitcoin really don't even know anything about Bitcoin apart from the fact that it's a means of payment. So, there is more to learning how Bitcoin works than actually using it. I think it's a good sign that all these are happening and that Bitcoin is getting listed on many stock exchange platforms, notwithstanding.

To an extent, maybe.  But if you have ever sent a payment using a Bitcoin client, you're still infinitely more educated than all the stock brokers and hedge fund managers placing bets from the sidelines. 

It's true to say Bitcoin does have a steep learning curve to start off, so it will take a while for people to learn how to use it correctly.  The fact that many "users" (in a very loose sense of the word) still hold 100% of their funds on an exchange or webwallet means we still have a long way to go.

It is a good move came from Canada because many people are now getting curious about this coin and how about the benefits of this coin on the market by this kind of decision you can now make a lot of earnings and profit by the help of bitcoin also it can help you to make faster and secure transactions unlike the fiat also it has a low transaction fee. Some of the country today are now made their own crypto currency atm that supports the bitcoin and it is not impossible to make more implementation because you can now make a huge contribution by this movement. Thumbs up for this project.

Seems like more countries are getting positive with bitcoin this year, despite of what we are experiencing right now, this news makes me happy.
The government now are slowly accepting bitcoin in their respective countries, maybe they really need this to be competitive with the other pro crypto countries.

Bitcoin is progressing . When these top exchanges start listing Bitcoin on their platforms , the smaller one will follow and do the same and that will help to let a lot more people to get to know about Bitcoin.

Even those that knows about it before but were being reluctant to invest in it might get convinced now and would get the urge to try it out. And those that said that bitcoin is a scam will as well start seeing that it’s not what they used to think it is, since being listed by top exchanges proves that it is very legit. This is the kind of good news I want to be seeing, and not just this, I also hope to see more improvements in every angle.

Bitcoin is now making its way even in the top stock exchanges. Canada is one of the homes of exchange and TSX surely make it to the list. With them, having the reputation and the credibility, Bitcoin gains its fans across the globe and might even push other exchanges to use Bitcoin as their fund. Who knows? Maybe those who have lots of doubts and drawbacks before can now trust fully and try the power of Bitcoin in the market.

A new door is a new opportunity for both Canada and cryptocurrency. But this is not new anymore, I mean even if it's  good news. It doesn't affect much the bitcoin's performance. The price went down again atm. However, a great innovation from government of Canada is highly appreciated by many bitcoin enthusiasts.

Canada is really a developed countries and my relatives said that the cost of living there is also high compared to some other countries like Japan, US, countries in Europe and etc. I think it is a good decision if the bitcoin will really implement bitcoin in their country as an another mode of payment or as a store of value. Although bitcoin is really volatile in the market, it will probably become in demand once they include it in their stock exchanges. As mass adoption of bitcoin is gradually increasing, people will know the true value of bitcoin in their community. It can be a source of profit if you know how to manage and to maintain your greed not to use it. Trading with BTC is much fun that you think as it will increase your understanding about the market.

We hope that it will affect much after this pandemic is over because of people now busy to take care of their health, that is the important thing they need to do now. After that, they need to think about how to make money because most of them cannot have payment from their jobs. So there is still good news for them as they can search for the other jobs from the internet, and hopefully, they will have a chance to make money again.

The effect will be in the future, it will not affect right away unless we will see a hype about this news, but it's not gonna happen easily as most of us are now really struggling with facing the pandemic, business can't be as usual when we all stay at home, the real development is out there and as of now we are very limited.

I'm not what you'd call a cheerleader for the US, to put it mildly, but that's a pretty sweeping statement, heh.

For the sake of balance, it should be said that just because a small number of people involved with regulation haven't approved an ETF in the US yet, that shouldn't reflect poorly on an entire populace.

And it's also important to clarify the difference between true acceptance of crypto and merely allowing a bunch of institutional investors to place bets using fiat while watching from afar.  Doing that is categorically not a new idea.

In the state of the world right now, seeing this kind of news kinda good vibes for me. At least we can see some developments or updates on BTC. Anyway, some good news like this will likely give us some boost from holding our BTC. because we know that people are not dumping it instead they are adopting it in some way they could and this kind of news is one example of their adaptation which will make the other investors curious and want to look about it.

A simple acceptance of bitcoin is a good news already and now that Canada accepts it then it is better news as bitcoin virus will spread further that will cause the price to increase. Everyone likes to increase the price of bitcoin and if this TSX will bring more demand to bitcoin then it is a good opportunity to grab more bitcoin then store it for a long term one as days passes by bitcoin became stronger and stronger.

This only means that bitcoin virus is slowly spreading in every country, the big catch to this news is that those who have no knowledge in bitcoin will be curious once the TSX will support the exchange of bitcoin into other currencies.

This is good news for everyone. I think that with the development of the geography of the cryptocurrency, it can delay and strengthen its position, despite the fact that it is currently descending

This is really good news for the whole country. Though for the world, too. The use of cryptocurrency expands the circle of consumers.

This is a good news indeed. One of the first world country take it. That will influence 2nd & 3rd world country's.  Few year back every country mention it as a scam, now they admit it as a good fortune. 

When new countries allow Bitcoin to be legally traded, the benefits and new demands are very useful to increase the value of Bitcoin. Bitcoin Halving and Canadian Affiliation Bitcoin Price Expected to Reach a New Level.

This is good news, but not as big or not as good as you described. It can either attract investors (money put into Bitcoin) or not.
Even if it will attract big money to Bitcoin name, it can be only theoretical coz while people will buy Bitcoin throught exchange in reality it will not be real Bitcoins only promise of it.

It is great news!
I think it is just a matter of time before many others adopt blockchain in everyday life
We've seen Samsung and the crypto integration
We are seeing Facebook now prepping and trying to enter the blockchain with libra and many governments are paving the way to the adoption of cryptocurrency

What a great news to hear, but sadly, not all startups and entrepreneurial business that utilizes blockchain becomes successful. It depends on how well the blockchain fits to the business, and not just using blockchain for every business types. I prefer to see blockchain on businesses that are focused on utilizing security for transactions. Supply chain, health care, and money. Disregarding the usage of blockchain to streaming apps and others related to entertainment.

Hello everybody. For my country, where there is a bill according to which people will be imprisoned for cryptocurrency for 7 years, this is just some kind of unrealistic dream. Yes, this is just a bill that has not yet been adopted, but the fact that some kind of stupid “writer of laws” has come up with this says a lot. Congratulations to Canada, this is just great, and most importantly, both authorities and bitcoin holders are free to enjoy all the advantages of the cryptocurrency market and make a profit from the digital gold trade. And in my country one can only hope that common sense will prevail and such fiscal measures will not be taken.

I did not stop smiling after reading the news at cointelegraph.com about bitcoin funds listed on the toronto stock exchange.
This is the best news from Canada, with this news, the price of bitcoin has gone up. I as a holder of bitcoin feel happy to have
hold bitcoin for long term, with lots of positive news like this makes me even more optimistic about the future of bitcoin.

This is really good for cryptocurrency. It is very hopeful that when a country like Canada include bitcoin. It helps bitcoin to spread all over the world more quickly and it will make it more trustable among the developing country.

It would be great news new investment will come and trading platform will be grow more.Cryptocurrency level increasing day by day and lot more things coming toward.Bitcoin price increase and all over the world it spread and many country include further.This kind of positive news make energetic to trader and this platform have more good in future to new comer.

In all of the article you shared this is most important thing to grasp here. The popularity of bitcoin has to increase a lot. Share companies or brokers will look after their own benefits but in the first place people who are actual customers of bitcoin shall get to know bitcoin extensively. Slowly this will help to spread the word about bitcoin to everyone whose left and more investment will start flooding. They must know it's not just trading commodity but it is more than that. An alternative to gold and diamonds to keep their assets for longer periods.

Every country accepting some portion of crypto is win win situation for this crude market.