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

[r0ach]

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.

[pleaseexplainagain]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

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.

[Killerpotleaf]

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

[Dafar]

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.

lol it's the uninformed jew shill


ETF denial just prevented many people and organizations from acquiring Bitcoin in their portfolios. It definitely would have been a good thing for bitcoin. Why the hell would the Winklevoss unload their own BTC when ETF would dry the supply even further and naturally rise the price

[spooderman]

please someone quote me:

the ETF is nothing but trouble for bitcoin. best case: it fails, we crash and recover.

nice 

[Killerpotleaf]

Good read - http://www.btclawtoday.com/star-crossed-failure-geminis-etf/

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!

[Killerpotleaf]

what the, Oh shit, OH FUCK! i sold the bottom!

[Ibian]

So in summary, we are never going below 1k again. This has been a productive day.

[Stevenirving]

So in summary, we are never going below 1k again. This has been a productive day.

I would say so

[marcus_of_augustus]

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.

[Killerpotleaf]

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.

[r0ach]

This declining head and shoulders will probably make it dump again then bounce to $1050 or something:



I'm out again at $1168 (no idea why the price is that high right now) and will let this market marinate.

[Killerpotleaf]

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

[Ted E. Bare]

I feel much better again about my bitcoin investment. After this ETF event I'm even more sure that I will never sell in the next couple of years. Trading seems risky to me, I bought 1 more bitcoin instead. Buying the dips every now and then and holding.

[r0ach]

I feel much better again about my bitcoin investment.

Yoda watches over silver bullion to make sure Roger Ver and Luke Jr can't fork it.

[BitcoinBA]

Good morning

Why is it so super stable last 5 hours??

Where are the panic sellers?

Second dip should be coming...

[TeeBone]

The kikes made a phone call to the SEC

[Mahdi0]

WHAT A WILD RIDE EVERYBODY!~


Wish bought when I saw 900s and 1000 flat stare me in the face while I was thinking. Oh well

[DaRude]

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?

[Searing]

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