Everyone around here seems insanely pessimistic about an ETF approval. Makes me think one might finally get approved this time.
It's not 2017 anymore. Exchanges and derivative platforms have significantly tightened up compliance wise, fake volume is not nearly as rampant, regulators are constantly taking action, CME and Bakkt are steadily growing in volume and liquidity. This is exactly what Jay Clayton said needed to happen before an ETF could be approved.
Not to mention that Microstrategy, in terms of assets held, is turning itself into a de facto Bitcoin ETF. I suspect the SEC is feeling trolled by that and I wonder if it might make them more inclined to bring a real ETF to market.
Agreed. Also, Microstrategy’s direct exposure to bitcoin clearly is making it to the price of the company’s stock. The stock has pumped from $135 from August to $388.55 to end the year. I speculate that other smaller companies might copy the same tactic to bolster their stock price also. |
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I am very skeptical of this article. Institutional investors do not fomo buy similar to ordinary investors. Also, a judge will determine Tether’s case on January 15. Might this be Tether held in exchanges are traded quickly for bitcoin for safety?
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@7788bitcoin. Is that what Dana really said or is that the translation of the video?
In any case, Dana is a businessman. Khabib has a new MMA promotion called Eagles MMA where he needs Dana’s help for distribution and marketing. I reckon Dana can use money and that as an offer to convince Khabib to return.
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Big day on Sunday with an extra serving of games. What teams do you guys like to cover?
I find these to be interesting:
Miami/Buffalo - Miami really needs this game but I just don't see them winning or even beating a +3 point spread. I'm waking up early to watch this one though...
Agreed. Matt Barkley also tweeted see you in the playoffs which implies that there might be much more fans than presently allowed to watch the game. This should help the Bills performance in their home stadium and get the bye if they clinch 2nd seed. In any case, are the Dolphins a good team to be given only +2.5? Should it be not +7? |
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@estenity. 2017 was our chance. We had the code rebase, /r/Aeon was attracting new members and the involvement was growing. Much of the people in the cryptospace did not care, however. I reckon that if Bittrex delists this, this might never return to 10% of Monero again.
i think smooth is waited for an update of situation. What situation? In any case, we might be next. Bittrex delisted Monero and the reasons for a delisting very unclear. Yes, we know that the reasons might be regulatory and for compliance. However, the other question. Did Bittrex do this to avoid a small headache or is this a signal that they expect more regulatory crackdowns? |
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Bittrex delisted Monero along with ZCash and Dash which was a weird decision sparking concerns about a regulator crackdown on privacy coins.
Monero is known to have the best privacy and we have also read previously about the IRS hiring Chainalysis to find a way to trace the transactions.
Can Bittrex know something others don't or acted before anyone else for their own reasons? Will Monero be delisted by more exchanges? Price drops and I'll be waiting to buy.
Bittrex has always had shit volume that was driven by arbitrage and nothing else. They have major problems with regulators and are trying to show what good little boys they are. Agreed. Bittrex also has not delisted other anonymous coins Aeon and Grin. This makes me speculate that Bittrex only does not want to spend on legal advice on how to proceed with anonymous coins but also want to be safe hehe. @smooth. Did Bittrex contact anyone from Monero’s development team before the announcement? |
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@exstasie. However, there are no more audits proving that Tether is backed by fiat reserves. No stablecoin has ever been audited. The most we've seen is a balance sheet attestation from Circle for USDC, which Tether also did a few years ago with Friedman LLP. does not automatically imply that Tether is 100% backed by $20 billion held in a bank. I'm not saying it does. I was just responding to the tired argument that Tether hasn't been audited. Since no stablecoin has ever been audited, that's a moot point. An audit (or lack thereof) isn't inherently what makes a stablecoin safe or risky to hold. It might also be under the authority of the SEC because USDT is a dollar derivative. Derivatives are securities. Derivatives are secondary securities, ~95% of which do not meet the SEC's definition of a security. Those fall under the jurisdiction of the CFTC. The ~5% of derivatives the SEC regulates are "security-based swaps" which include things like stock or bond-based swaps, or credit default swaps. The SEC said this recently regarding fiat-backed stablecoins: We believe that market participants may structure and sell a digital asset in such a way that it does not constitute a security and implicate the registration, reporting, and other requirements of the federal securities laws. https://www.sec.gov/news/public-statement/sec-finhub-statement-occ-interpretationYou can call it FUD, however, this leaves more questions and speculations without an audit.
Whatever dude, I just don't see the point in spreading so much fear, uncertainty, and doubt.  Does this imply that the CFTC can also charge Tether? In any case, you agreed that Tether is shady and you also know that there have been no verifiable audits, however, you say any speculations and if someone asks questions about Tether’s legality and backing is FUD? What would you say if Tether has been taken down? Similar to you, I want this pump. However, as learners and participants of the cryptospace, we should ask questions. Do you think I have been researching about Tether because I want FUD? I hold bitcoins also, however, we should not be thoughtless larpers. |
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@ Harlot. It might only be a paid for advertisement from a new bitcoin payment processor called Strike hehe. This appears to be a new form of marketing tactic similar to reality TV became a new form of sitcom hehe.
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It happens every month, where you been last 3 years? However, with Ripple’s pending case, should they not stop dumping XRP on the market until everything is legally resolved? Chris Larsen and Brad Garlinghouse should be careful not to worsen the case against them. |
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@exstasie. However, there are no more audits proving that Tether is backed by fiat reserves. No stablecoin has ever been audited. The most we've seen is a balance sheet attestation from Circle for USDC, which Tether also did a few years ago with Friedman LLP. Circle's accounting firm can tell you why audits don't take place: Grant Thornton does not perform 100 percent audits of a client’s portfolio – a process that is prohibitive by price and time Anyway, I don't think the SEC advisor's point was about 100% backing vs. fractional reserve, but rather the distinction between a backed stablecoin and one that is pegged using centralized price manipulation. I believe she was specifically referring to Dai: Szczepanik didn’t say any of the categories were off the hook, but she went out of her way to single out the third one. Coins that rely on “some sort of pricing mechanism” to maintain their value, she said, may fall within the purview of the SEC, whose charge is to protect investors from fraud and scams. In particular, if a stablecoin has “some central party controlling the price fluctuation over time,” that “might be getting into the land of security,” Szczepanik said.
Back in December, the founders of an “algorithmic” stablecoin project called Basis, which had raised $133 million from high-profile venture capital firms, cited securities law as the reason for abruptly shutting it down. “Having to apply US securities regulation to the system had a serious negative impact on our ability to launch Basis,” they wrote. Though Dai works differently, and its adherents would argue that it is not at all centralized, Szczepanik’s description was broad enough to imply that it may not be immune from legal issues similar to those Basis faced. Wouldn't that be hilarious, if the "decentralized" stablecoin Dai gets taken down by the SEC while Tether walks away unscathed?  Tether can also be charged of price manipulation if indeed billions of USDT have been printed without backing. Now we're talking about two different things. If Tether was used to manipulate the price of BTC, that doesn't mean Tether manipulated the price of USDT. That's what matters regarding characterization of USDT as a security. If a company is manipulating the price of Bitcoin, that is within the purview of the CFTC and not the SEC, since Bitcoin is not a security. As for the Tether printer, you're just repeating more FUD.  There is no evidence Tether issued USDT without backing. There is evidence that some issued USDT became unbacked after the Crypto Capital/Bitfinex fiasco. You may not think the distinction is important, but it is crucial to establishing whether Tether ever actually "printed" anything. Losing control of dollars held in a bank account is a matter of third party trust gone bad. That's very different than intentionally printing unbacked tokens. does not automatically imply that Tether is 100% backed by $20 billion held in a bank. It might also be under the authority of the SEC because USDT is a dollar derivative. Derivatives are securities. You can call it FUD, however, this leaves more questions and speculations without an audit. |
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Yeah, you are right. It is too bad that Okung lied about it or someone lied to him about it. He is a big bitcoin supporter though. It is also clickbait. This appears to news paid by someone or it appears that someone from Fox Business news might also be a bitcoin investor hehe. |
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@acquafredda. I disagree. Ethereum has become the standard for tokenization, ICO and smart contract solutions because of the cooperation of the exchanges. I am very much in doubt if Gavin Wood can influence exchanges to stop using ERC20 for Polkadot’s solution.
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I wonder if LTC will overtake XRP on CoinMarketCap by the end of this year?
If this trend continues, I believe it will. This could further boost the price of the LTC as it will be in the TOP 5 cryptocurrencies.
It might because XRP will be majestically dumped by the exchanges itself then delist hehe. @JollyGood. I speculate that many exchanges are waiting for the judge’s decision and what classification determines XRP. If it is classified as an illegal security, all exchanges will dump and delist. |
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@ exstasie. However, there are no more audits proving that Tether is backed by fiat reserves. Tether can also be charged of price manipulation if indeed billions of USDT have been printed without backing.
Also add the FBI and the DHS for money laundering charges, tax evation, fraud and terrorist financing. The American government might throw the whole book on them hehehe.
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@ Globb0. I might be wrong on the timeline, however, I am quite certain there will be more than 2 Bitcoin ETF to be offered for mainstream investors who want some exposure on bitcoin. In any case, this news hehe. As 2020 draws to a close, one of the prior proponents for an exchange-traded fund (ETF) based on bitcoin is trying again: VanEck has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a “VanEck Bitcoin Trust.”
An ETF is seen as advantageous because it trades on the stock market in much the same way as shares in popular companies such as Apple and Microsoft.
VanEck has previously proposed ETFs, withdrawing its most recent application in September 2019. At the time the company said it remained committed to an exchange-traded product.Source https://www.coindesk.com/vaneck-proposes-bitcoin-etf-again |
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Unless Bucs get to the Super Bowl, now that would probably light him on fire. ROFLOL! I didn't factor that in, good call. Is this a Tom Brady inside joke or is there a possibility that Belichick will follow Brady to Tampa Bay? I just read that Ben Roethlisberger is going to sit out Sunday's game, the Steelers are starting Mason Rudolph. I don't know enough about Rudolph to know if that's a good or bad thing for the Steelers, but it's starting to look like the Browns will take the win on Sunday.
Myles Garrett ... This is part 2! I hope it will be as action packed similar to their last game on the field together hehehe. @Hueristic. Hehehe, you are also expecting an action packed game, yes? |
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Dustin is not just an ordinary fighter and he just won the last fight last June.
But even it's 6 years ago when McGregor pulverizes him, and others will say that Dustin improved, McGregor also improved on the way.
I won't be attracted to Dustin's odds as looking at all sides, I don't see any upset here. I might bet for a Decision instead of TKO if there's an available bet.
This is fight a 5 round fight, I am very certain that this will not be a decision hehe. It might be Conor with a knockout or Dustin with a technical knockout or a submission. On improvements of each, I reckon Dustin had more improvement than Conor. Dustin also has the correct mental attitude. In Conor we cannot be certain anymore. |
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@ acquafredda. The cryptocoin with the best marketing and storyboard for 2021 will certainly be Ethereum 2.0 hehe. They will hype sharding, proof of stake and scalability. I reckon all the larpers will praise the word of Vitalik without understanding and research.
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Ripple (XRP) recovered a little in the past few days but it turned out more dump now. And I think it will just come back when they settle their lawsuit with the SEC. Yesterday COinbase and OKCoin announced the suspension of XRP trading on their platform which cause more dumps on XRP.
That's about as likely as CLAMS coming back. It's being delisted from major exchanges and that means no exposure and no pump. And what are you talking about settle? Garlinghouse and Larsen were explicitly given the opportunity to settle with the SEC and they chose not to - alea iacta est. OTC market makers have also stopped providing liquidity for XRP. This implies that the biggest whales cannot dump their coins without using crypto coin exchanges. However, what would be next if Ripple and SEC settle the case without trial? @JollyGood. Agreed. The future of the cryptospace depends on this case. There are much more illegal securities to be delisted if exchanges can delist XRP. They will be time bombs hehehe. |
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