Bitlicense in May - what will happen?

[Rafterman]

the Bitlicense will come out before the end of this month.
http://www.theregister.co.uk/2015/04/29/the_worlds_first_proper_bitcoin_exchange_will_be_live_in_a_month/

What will happen after that day?

The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

What other businesses are waiting for that?
Waht else is the Bitlicense needed for?
Ebay, Amazon??

And the biggest question: How will it effect the price??  

[1715292106]

1715292106

[Rafterman]

what are the advatages/disadvatages of the Bitlicense?

[HI-TEC99]

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The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

.....

The ETF needs approval from the SEC before it can start trading. Nobody has any idea how long that could take, or if the SEC will approve it at all. The Bitlicense is not what's holding it back.

[Rafterman]

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The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

.....

The ETF needs approval from the SEC before it can start trading. Nobody has any idea how long that could take, or if the SEC will approve it at all. The Bitlicense is not what's holding it back.

so the SEC needs it to be able to approve the ETF??

[Meuh6879]

ETF ... will be and always a "big" joke on Bitcoin environment.

[HI-TEC99]

.....



The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

.....

The ETF needs approval from the SEC before it can start trading. Nobody has any idea how long that could take, or if the SEC will approve it at all. The Bitlicense is not what's holding it back.

so the SEC needs it to be able to approve the ETF??

Yes, it cannot start trading without SEC approval and the approval process has been dragging on forever.

[LFC_Bitcoin]

We keep hearing proposed dates regarding the NY Bitlicense.

I'm not believing anything until it's officially announced.

These people give you announcements & just delay, delay, delay.

I don't even know what the Winkledouches are upto regarding their COIN ETF, it feels like they've been waiting an eternity for some kind of answer.

[1Referee]

Even when it does get official, then I still can't see it impacting the price that much. Perhaps a little at the beginning, but it won't last.

[LFC_Bitcoin]

Even when it does get official, then I still can't see it impacting the price that much. Perhaps a little at the beginning, but it won't last.

It's probably going to piss existing bitcoin businesses off.

On the other hand though there may be paranoid people who are hesitant to invest in bitcoin atm.

If they see some kind of legislation, approval etc they may start to feel it's safe to invest.

A lot of people are scared of breaking rules.

[techgeek]

Well we have that as a huge step out of the way, cause without it the etf doesnt matter.

But now, since the license is going to happen, its a matter of a waiting game again, for the SEC like someone pointed out to approve being on the market as the ETF is backed up by a company.

Which I assume the twins should be focusing on, but I have no clue of the updates on where people can see this or the status.

[Amph]

.....



The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

.....

The ETF needs approval from the SEC before it can start trading. Nobody has any idea how long that could take, or if the SEC will approve it at all. The Bitlicense is not what's holding it back.

isn't bitlicence already done? they still need to regulate it? i thought it was ready, i think the reason must be something else

what are the advatages/disadvatages of the Bitlicense?

more regulation, security, but also less freedom and more centralization

[HI-TEC99]

.....



The ETF needs the Bitlicense so it will start to trade after that date, when ? same day, couple of days?

.....

The ETF needs approval from the SEC before it can start trading. Nobody has any idea how long that could take, or if the SEC will approve it at all. The Bitlicense is not what's holding it back.

isn't bitlicence already done? they still need to regulate it? i thought it was ready, i think the reason must be something else

.....

The second comment period is over but Coinbase is trying to get more changes made before it launches.

http://www.newsbtc.com/2015/05/03/bitcoin-company-coinbase-drops-a-final-bomb-on-bitlicense/

Coinbase has urged the Bitcoin community to voice their concerns to the NYDFS Superintendent Benjamin Lawsky (@BenLawsky). While we are unsure if such unofficial requests would be addressed properly, the amendments could reach floor upon the final launch of BitLicense, the regulation that haunts.

[minerpumpkin]

What will happen... good question. I think if the licence indeed comes down like the hammer everyone suspects it to be, it will be used to attempt a dump of some kind. And given our current situation, I don't really know where this is leading us. It could very well push us below important support levels, and we could very well start a freaky descent. I'm not really looking forward to the licences!

[BillyBobZorton]

I don't think nothing will happen in terms of price, but a lot of other things will happen in the BTC ecosystem. If you are waiting for magic news that will make the price skyrocket I think you are delusional. The price will skyrocket a random day when least spected, as people start panic buying since everyday that passes where you are out at this low price is taking a huge risk.

[minerpumpkin]

I don't think nothing will happen in terms of price, but a lot of other things will happen in the BTC ecosystem. If you are waiting for magic news that will make the price skyrocket I think you are delusional. The price will skyrocket a random day when least spected, as people start panic buying since everyday that passes where you are out at this low price is taking a huge risk.

Well it wouldn't be the first time that bad news pushed the BTC price down, actually. In this case we're not talking about some magic positive news, but rather about news that could mean the unhindered development of Bitcoin-related businesses may be severely stifled by regulation!

[traderbit]

Let's hope ETF will be huge changing for Crypto World

[LFC_Bitcoin]

Let's hope ETF will be huge changing for Crypto World

We all hope so.
I just have no patience
One day all of this waiting will be worth it my friend.
We need new investment, big players.

[Rafterman]

ItBit will start trading after it comes out.

Thats something big. New exchange for the people who are a bit concerned about "shady" exchanges.

Everything else we will see soon

[1Referee]

ItBit will start trading after it comes out.

Thats something big. New exchange for the people who are a bit concerned about "shady" exchanges.

Everything else we will see soon

ItBit exchange has seen some growth in volume last few days, which might be an indication that people were looking for something like this.

I wonder if they can manage to keep growing, if you look at Bitfinex in the early days, and see what it is now, then nothing is impossible.

[gentlemand]

ItBit will start trading after it comes out.

Thats something big. New exchange for the people who are a bit concerned about "shady" exchanges.

Everything else we will see soon

It's open for business right now. They took a much more hardcore route. The Bitlicence will be considerably more lightweight compared to their setup.