Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[K~Ehleyr]

I know the odds are against it but I can't help thinking maybe it might just pass.  I mean, bitcoin is going to happen anyway and the SEC, the governments can't really control that and they must know it.  But an ETF would give them the ability to control the big money that goes in and out of bitcoin even if they can't control bitcoin itself.  An ETF would open up a huge regulatable gateway to bitcoin, of which the government can play gatekeepers to their heart's content!  If the SEC sees it that way, I think it's in  

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[ImI]

Is there any reason at all for SEC to wait before they reject the ETF though? Even on 10th of march, it should be obvious that it's getting approved no?

Is there any reason for the SEC to come out with a decision before they have to? Its quite obv imo that they take as much time as they can to come to a conclusion.

They've had 3 years, not sure why they would need an additional 10 days or whatever lol

Last addition to the ETF proposal regarding the management of hard-forks happened just a few weeks ago. The recent ETF has not much in common with the proposal the Winklevii made 3 years ago.

[gentlemand]

Is there any reason for the SEC to come out with a decision before they have to? Its quite obv imo that they take as much time as they can to come to a conclusion.

What a bunch of teases. I've read elsewhere that no ETF has ever been approved via the doing sod all route so something will emerge eventually.

[siggy]

Is there any reason at all for SEC to wait before they reject the ETF though? Even on 10th of march, it should be obvious that it's getting approved no?

Is there any reason for the SEC to come out with a decision before they have to? Its quite obv imo that they take as much time as they can to come to a conclusion.

They've had 3 years, not sure why they would need an additional 10 days or whatever lol

probably cuz they only started to seriously look at it 5 days ago....   why make a decision today/this month/this year, when you can just do an extension and make it someone else's problem later?

[becoin]

Is there any reason at all for SEC to wait before they reject the ETF though? Even on 10th of march, it should be obvious that it's getting approved no?

Is there any reason for the SEC to come out with a decision before they have to? Its quite obv imo that they take as much time as they can to come to a conclusion.

They've had 3 years, not sure why they would need an additional 10 days or whatever lol

They need to see what PBOC will do!
But PBOC need to see what SEC will do!

[HI-TEC99]

I know the odds are against it but I can't help thinking maybe it might just pass.  I mean, bitcoin is going to happen anyway and the SEC, the governments can't really control that and they must know it.  But an ETF would give them the ability to control the big money that goes in and out of bitcoin even if they can't control bitcoin itself.  An ETF would open up a huge regulatable gateway to bitcoin, of which the government can play gatekeepers to their heart's content!  If the SEC sees it that way, I think it's in  

Blockchain is the latest business buzzword, despite most business people not having a clue what it is. The ETF might get approved simply because someone important heard its got something to do with blockchain.

[Elwar]

The longer we go without a decision the more likely the ETF passes. If no decision is made by March 11, then the rule change is automatically approved.

One of the most likely things that people do when faced with a tough decision is to do nothing.

[Torque]

I know the odds are against it but I can't help thinking maybe it might just pass.  I mean, bitcoin is going to happen anyway and the SEC, the governments can't really control that and they must know it.  But an ETF would give them the ability to control the big money that goes in and out of bitcoin even if they can't control bitcoin itself.  An ETF would open up a huge regulatable gateway to bitcoin, of which the government can play gatekeepers to their heart's content!  If the SEC sees it that way, I think it's in  

Blockchain is the latest business buzzword, despite most business people not having a clue what it is. The ETF might get approved simply because someone important heard its got something to do with blockchain.

We need a Blockchain ETF!  And an HTTP ETF!!  And an IOT ETF!  ETF all the things!

[ImI]

The longer we go without a decision the more likely the ETF passes. If no decision is made by March 11, then the rule change is automatically approved.

One of the most likely things that people do when faced with a tough decision is to do nothing.

Yes, but "do nothing" in this case means keeping the status quo, shich means "No ETF". The SEC has nothing to gain from such an approval only to loose if lots and lots of money flows into that thing and it fucks up big time in some years from now. Then everybody will be like "Who approved that shit!?"

[JimboToronto]

We need a Blockchain ETF!  And an HTTP ETF!!  And an IOT ETF!  ETF all the things!

Don't forget the TCP/IP ETF. I hear TCP/IP's the latest thing. 

[cmacwiz]

The longer we go without a decision the more likely the ETF passes. If no decision is made by March 11, then the rule change is automatically approved.

One of the most likely things that people do when faced with a tough decision is to do nothing.

Yes, but "do nothing" in this case means keeping the status quo, shich means "No ETF". The SEC has nothing to gain from such an approval only to loose if lots and lots of money flows into that thing and it fucks up big time in some years from now. Then everybody will be like "Who approved that shit!?"

But before the wheels come of, the SEC will happily run the show!

[gentlemand]

Yes, but "do nothing" in this case means keeping the status quo, shich means "No ETF". The SEC has nothing to gain from such an approval only to loose if lots and lots of money flows into that thing and it fucks up big time in some years from now. Then everybody will be like "Who approved that shit!?"

But in this case 'do nothing' is a de facto yes. People elsewhere have argued that the ETF will slip out like a turd in a bath without their making a squeak as somehow that absolves them of responsibility if it goes wrong. A yes by doing nothing is still a yes. I can't imagine that's how anyone would choose to operate so we will get a firm decision in some direction.

[gembitz]

ATH Today?

^i'm resetting my dials to $2000 we going to $2000 very very soon :-D weeeee

[Fakhoury]

Is there any reason at all for SEC to wait before they reject the ETF though? Even on 10th of march, it should be obvious that it's getting approved no?

At all, what most of the people don't know is that the 11th of March is the "deadline", so we can hear about the approval/rejection at time starting from the time of writing this post till the 11th or 10th to be more specific.

As Elwar said, and as I said before, it will be auto approved.

P.S. To be specific, Elwar said "most probably" it will be approved.

[JayJuanGee]

I know the odds are against it but I can't help thinking maybe it might just pass.  I mean, bitcoin is going to happen anyway and the SEC, the governments can't really control that and they must know it.  But an ETF would give them the ability to control the big money that goes in and out of bitcoin even if they can't control bitcoin itself.  An ETF would open up a huge regulatable gateway to bitcoin, of which the government can play gatekeepers to their heart's content!  If the SEC sees it that way, I think it's in  

That is a very decent point.

I doubt that factor causes the ETF to be a shoe-in, but certainly some road into having some controls over bitcoin could factor into the whole approval matter. 

I think that weighing giving legitimacy to bitcoin (as a negative) and having some control over bitcoin (as a positive from the gov's perspective) continues to cause them some trepidation regarding their decision (which is likely mostly already made, just being finalized in these final weeks concerning actually publishing it.. and whether it gets tweaked a bit here and there before publishing it)

[HI-TEC99]

We need a Blockchain ETF!  And an HTTP ETF!!  And an IOT ETF!  ETF all the things!

Don't forget the TCP/IP ETF. I hear TCP/IP's the latest thing.  

The Dilbert cartoon below is based on the level of knowledge most business people have about the blockchain. I bet the people at the SEC have been told 'blockchain' will revolutionise business, and if they don't approve the ETF then 'blockchain' will be distressed.

[DieJohnny]

Is there any reason at all for SEC to wait before they reject the ETF though? Even on 10th of march, it should be obvious that it's getting approved no?

At all, what most of the people don't know is that the 11th of March is the "deadline", so we can hear about the approval/rejection at time starting from the time of writing this post till the 11th or 10th to be more specific.

As Elwar said, and as I said before, it will be auto approved.

P.S. To be specific, Elwar said "most probably" it will be approved.

Organizations are typically consistent. For example, rejections probably happen immediately before the deadline or they happen much sooner in the process? Are there any patterns with regard to rejections from the SEC. The closer we get is it more likely it will be either approved or approved by default?

[afbitcoins]

I'm concerned that the ETF will provide first toehold into centrally controlling the bitcoin market

edit. In which case I'd prefer the ETF to be rejected

[Torque]

Ugh, mention in the mainstream news again:

Bitcoin soars above $1,100
http://www.businessinsider.com/bitcoin-price-february-21-2017-2017-2

Queue dump in 3, 2, 1, ...

[GBattaglia]

We need a Blockchain ETF!  And an HTTP ETF!!  And an IOT ETF!  ETF all the things!

Don't forget the TCP/IP ETF. I hear TCP/IP's the latest thing.  

The Dilbert cartoon below is based on the level of knowledge most business people have about the blockchain. I bet the people at the SEC have been told 'blockchain' will revolutionise business, and if they don't approve the ETF then 'blockchain' will be distressed.

Very true. You notice a handful of companies shoe-horning "blockchains" into systems that really would see no additional benefit from it? Have a feeling a few "blockchain installation" companies will be popping up offering their expertise to company heads on how the "blockchain" will simply make everything better for their field of work.

And the thing is, those managerial type people tend to be clueless about a variety of topics when you go into a specific enough niche. I work in retail floor maintenance and some of the stupid ass shit you hear from retail employees all the way up to store managers is quite baffling. So I can easily see someone pushing a "blockchain agenda" into a few managers heads at a variety of businesses.