Money doesn't fork. Money forks all the time. It was common practice to dillute gold and silver coins with less valuable metals. That's not a fork...it's the same thing as shaving. You can't fork gold and silver you idiots! you also can't move 30,000$ worth of gold from here to china for a buck. imagine having to pay deals in gold LMAO! |
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Gotta feel for the Winkles a little bit. I know they are privileged cocks - but they believe in BTC just the same as the rest of us.
it must be a real pisser to have all that effort thrown away at the last minute, especially when the sec could've saved it all for them years before. i wonder what other options they're looking at. i hope they keep pushing gemini at least. Can't their ETF be approved later down the line? technically ya. but that would be a "completely different application" i'm guessing years from now MAYBE the SEC could be persuaded to reconsider. The pdf with the rejection decision in says if Bitcoin gets a shitload more money thrown at it in the future the SEC might consider changing its mind. I'm sure if Bitcoin's value increases 100x the SEC will fast track another ETF. https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdfThe Commission notes that bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop. Should such markets develop, the Commission could consider whether a bitcoin ETP would, based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act. they want 90% of bitcoin trading on highly regulated markets before they consider letting it trade on their highly regulated markets. if bitcoin goes up 100X and is still mostly traded OTC there reasoning still applies Had gemini had a significant % of trading vol, it might of passed. imo this is kinda silly because the majority of trading is done on exchanges that are similar to gemini for regulatory compliance. expect maybe the chinese exchanges, but clearly thats getting an overhaul, and these market will now be HIGHLY scrutinized by regulators i mean point me a place where a relevant amount of BTC vol is being traded with no oversight.... feels like SEC read Jorge's paper and based there view of the bitcoin ecosystem purely on that. |
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the true reason for rejections is " we dont want help bitcoin in anyway, because we dont like it "
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Gotta feel for the Winkles a little bit. I know they are privileged cocks - but they believe in BTC just the same as the rest of us.
it must be a real pisser to have all that effort thrown away at the last minute, especially when the sec could've saved it all for them years before. i wonder what other options they're looking at. i hope they keep pushing gemini at least. Can't their ETF be approved later down the line? technically ya. but that would be a "completely different application" i'm guessing years from now MAYBE the SEC could be persuaded to reconsider. |
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One of the critiques was from Professor Bitcorn
That guy doesn't seem to really know much about the technicals or fundamentals of bitcoin, but I actually agree with the ETF decision for a few reasons. Bitcoin has no transaction finality or even eventual consistency since technically the entire chain can be re-written, and in order to make any claim of being decentralized (unlike Vitalikcoin), that's the way it has to be designed; so bitcoin does not, and probably never will, fit into any existing legal system. thats almost like saying company XYZ can't be listed because half of the board can potentially leave to start a competing company, isn't it? |
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no way... watch and learn. <975 in <2days good night!  |
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this is way overbought dont you think.
i mean wtf, tomorrow 1200 as if nothing happened?
really?
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EXCITTTTTTTTTTEEEEDD!!!!
now i'm feeling slightly less worried about my position |
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Great price action peeps!!!!!   $1,165 on Stamp, as I type? We gonna be back to $1200 soon? Maybe $1350? I'm thinking that we could get to the $1200s and then bounce around there for a while. thoughts? MY GOD its 1170 wtf! these are my thoughts... I saw a post of yours earlier saying that you could not hold, and you sold... Tell me that you bought back in. Did you make any money on this volatility of the past 24 hours? Quite amazing to bounce between $975 and $1350 during that time. I totally fell in the bear trap. |
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Great price action peeps!!!!! $1,165 on Stamp, as I type? We gonna be back to $1200 soon? Maybe $1350? I'm thinking that we could get to the $1200s and then bounce around there for a while. thoughts? MY GOD its 1170 wtf! these are my thoughts... |
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ETF failed and we're still at the price we were in Feb? I was told there would be a crash  is it still coming once the BU decide to fork? if BU hits 51% then it will be 'interesting' to say the least if all camps will hold hands and have a sing along for BU at that point in time again devs of BTC of all flavors....are whales....so wtf do they care about long term viability and price per btc..they are set its all about power and control now not the best interests of bitcoin/open source/etc but yeah I expec more fud and drama now on the block size debate...as whales have to keep the price slaped down somenow BU devs dont have as much control over the project as you seem to think I get 1 vote on BUIP's and they get 1 vote. we are voting on 15 potential new members this month, and there's a few BUIP i'm gonna want to review. some of the thing they make us vote on seems like side projects that dont nessary have anything to do with the protocol. BU aside...if ANY btc equiv gets 51% of the network in the future will the other side BU or Seg Witness actually go along with it...and adopt..of will they just fork for the hell of it ...... what is the 'process' after 1 party gets 51% ...does the other protocol (pre-fork) just says you win a thus we putter along after this patch w/ band aid:) and of course "speculation wise" what would that do to the price of BTC forking....assuming I know what I'm talking about (big assumption imho) core still has 75% of the network and still no segwit... its more about if some BIP gets adopted everyone else "might be forced" to go along with it. i say might be, because really only forks ( hard or soft) require all miners to upgrade ( some soft forks ( like segwit) kinda require all minners to update but not all clients ). everyone will adhere to new protocol, but no one group actually gets authority no manter what % they "control" |
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ETF failed and we're still at the price we were in Feb? I was told there would be a crash is it still coming once the BU decide to fork? if BU hits 51% then it will be 'interesting' to say the least if all camps will hold hands and have a sing along for BU at that point in time again devs of BTC of all flavors....are whales....so wtf do they care about long term viability and price per btc..they are set its all about power and control now not the best interests of bitcoin/open source/etc but yeah I expec more fud and drama now on the block size debate...as whales have to keep the price slaped down somenow BU devs dont have as much control over the project as you seem to think I get 1 vote on BUIP's and they get 1 vote. we are voting on 15 potential new members this month, and there's a few BUIP i'm gonna want to review. some of the thing they make us vote on seems like side projects that dont necessarily have anything to do with the protocol. |
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This declining head and shoulders will probably make it dump again then bounce to $1050 or something:  I'm out at $1168 (no idea why the price is that high right now) and will let this market marinate. its the "buyable dip" effect |
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what the, Oh shit, OH FUCK! i sold the bottom!  Fiat baghodlers crying over bunch of fiat stinking up the joint in their bitcoin trading accounts ... looks like walls of devaluing, controlled fiat piling up. this reminds me, i should put some bids up before calling it a night. |
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what the, Oh shit, OH FUCK! i sold the bottom! |
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that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they're obligated to say no. the SEC's "reasoning" is more of a lame excuse then anything else. chinese exchanges are in the process of being regulated all the major USD exchanges fallow KYC/AML regulations, a lot of them have a "bitlicense" Gemini itself has a STUPID FUCKING bitlicense. If there job is to "protect investors" one good way they could have done that is by allowing an ETF. we expected a fair assessment, and they fucked us. I think you were expecting way too much. The SEC like any regulator of anything wants to be able to see what is happening in a market so that bad things can be stopped etc. It is correct in its assessment that bitcoin is still the wild west so it is no surprise it has rejected the ETF. Most of us expected this judging by the comments posted on the forum over the last few months. Since they seem to reject Gemini as a market (as the report author mentions) then it seems the Winklies ETF may be fundamentally doomed. And as Bitcoin is unlikely to agree to become more regulated anytime soon and since one of the key reasons many people buy it is because they hate centralisation etc. then we should not be expecting anyone's ETF to be approved for a very long time if ever. its not like its 2014 anymore. exchanges only really started paying serious attention to KYC/AML 2 or 3 years ago like i say exchanges like coinbase have gotten the appropriate bitlicenses. and i'm sure most of them have jumped through all kinds of regulatory hoops all over the place. sure the chinese exchanges are playing catch up just now, but wtv.. an ETF might have become the price setter pretty quickly... and having that exchange answering directly to the SEC, would have gone a Long way into providing a safe regulated bitcoin market. they didn't make this decision with the best interest of the investor in mind, they had orders from the illuminati! |
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we expected a fair assessment, and they fucked us.
ETF isn't even a good thing for bitcoin. It's in fact totally pointless for bitcoin to have an ETF. The only purpose the ETF serves is an exit scheme for the Winklevoss. Now they have 200,000 coins they need to dump on a bunch of insolvent and illiquid exchanges unless they can find OTC buyers. i thought they only had 100K |
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that all makes a bunch of sense to me. even if they loved the idea, if they don't have the info to do their job then they're obligated to say no. the SEC's "reasoning" is more of a lame excuse then anything else. chinese exchanges are in the process of being regulated all the major USD exchanges fallow KYC/AML regulations, a lot of them have a "bitlicense" Gemini itself has a STUPID FUCKING bitlicense. If there job is to "protect investors" one good way they could have done that is by allowing an ETF. we expected a fair assessment, and they fucked us. |
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bonkers market looking to go back up to 1200  You are advising the all-in guy with wifey problems to sell, and 2 minutes later you post this? Before you said that we will see 950 USD by midnight? And then accepted a bet that we will have "<975 by monday 00:00"? I have a fiat transfer arriving at an exchange only on Monday, too. But please share the stuff you are smoking. I'll take the buds, not the leaves... ya i think market is wrong in trying to recover from this so fast, 1200 is NOT on the table. hence the facepalm gif at the thought of returning to 1200. fuck ya he should sell some. not only do i think <975 by monday will be easily achieved, i dont expect price to hold above 1000$ tonight. i'm on my second pack of smokes today ( its been a wild ride. )  |
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