ETF not passing can still be positive depending on the verdict

[thejaytiesto]

Remember that, even if the ETF doesn't pass, if the final verdict is overall positive (not passed, but few requirements for the next time, showing progress) the scenario would still be positive: It ultimately would mean we are closer to an ETF.


I think we may dip, but not as deep as people look at. And we may have even have a pump, after doubters jump in and market realizes it's just dumb to dump. Thought call on this one.

[york780]

No. This is the final deadline for Winklevoss ETF. Only aproval or dissaproval can be the outcome. They cant pospone and delay it anymore. So its a yes or a no.

[helloeverybody]

No. This is the final deadline for Winklevoss ETF. Only aproval or dissaproval can be the outcome. They cant pospone and delay it anymore. So its a yes or a no.

There are another 2 etfs in the works after the winklevoss twins so even if it was declined it would give the others a better chance of going through in the future since the would know what caused it to be declined. Imo the winklevoss deserve to get it first though since they have been going through the process for so long.

[york780]

It would be funny if Winklevoss COIN is not accepted and SolidX and greyscale will accepted. That would be a big big F**k you to the twins ^^

[btcmerich]

The verdict will be no or yes. So i do not understand " ETF not passing can still be positive depending on the Verdict "

As some one pointed out we  have three that are waiting for verdicts but something that is strange is we are having a downtrend before the verdicts  . Surely this downtrend is not just based on the news from china.

[Biodom]

i don't know if it passes or fails and, frankly, don't really care much.

As far as consequences are concerned, NOT passing at least one of ETFs soon would mean giving control of this asset flows to chinese hoarders. Do west governments want this? I doubt it.

Approve ETF and you have bitcoin under US/West control because ETF flows should/will vastly exceed all chinese exchanges combined.
As far as i am concerned, chinese bitcoin is dead, even if they don't know it yet for a simple reason that PBOC says that buying things using bitcoin should not be advisable. Therefore, what is the purpose of btc in China? I fail to see one, apart from hoarding it (like gold).

[btcmerich]

well i do not think western european or USA goverments care much about having control over bitcoin. They do care that their citizens do not use it to avoid tax or pay for drugs. Mostly see bitcoin as some  undeground tech for nerds and criminals , they do not see the ways of making bitcoin  working in their favour .

[harizen]

No. This is the final deadline for Winklevoss ETF. Only aproval or dissaproval can be the outcome. They cant pospone and delay it anymore. So its a yes or a no.

On the other hand if pointing to the price movement, I see it will didn't directly affect the behaviour of the price. Why? There is a so called community's response wherein any events that is taking placed, the price movement will depend on how hard the pumped or dump will be performed by the traders, investors and average joes.

I think we may dip, but not as deep as people look at. And we may have even have a pump, after doubters jump in and market realizes it's just dumb to dump. Thought call on this one.

Definitely yes. The support and resistance above $1,000 mark is really stabilizing. Hope the support will able to withstand the dumping activity that can make the price go back again to the 3 digit mark.

[york780]

i doubt it. 1000 USD is a psychical barrier. When we are moving to 1000 USD everyone will panic and sell. This time for some triple digits again.

[Biodom]

well i do not think western european or USA goverments care much about having control over bitcoin. They do care that their citizens do not use it to avoid tax or pay for drugs. Mostly see bitcoin as some  undeground tech for nerds and criminals , they do not see the ways of making bitcoin  working in their favour .

This is an uninformed point of view. They approved and licensed many institutions with multi billion $ flows.
Coinbase has 6 mil accounts already.
Many VCs (like Tim Draper) invested large sums in bitcoins directly and several congressman voiced their positive opinions on btc as well.

[Slow death]

Remember that, even if the ETF doesn't pass, if the final verdict is overall positive (not passed, but few requirements for the next time, showing progress) the scenario would still be positive: It ultimately would mean we are closer to an ETF.


I think we may dip, but not as deep as people look at. And we may have even have a pump, after doubters jump in and market realizes it's just dumb to dump. Thought call on this one.

The price is already falling

" ETF not passing can still be positive depending on the Verdict "

You should know that there will be a dump.

[york780]

A dump in a dump , negative x negative = positive.

[btcmerich]

well i do not think western european or USA goverments care much about having control over bitcoin. They do care that their citizens do not use it to avoid tax or pay for drugs. Mostly see bitcoin as some  undeground tech for nerds and criminals , they do not see the ways of making bitcoin  working in their favour .

This is an uninformed point of view. They approved and licensed many institutions with multi billion $ flows.
Coinbase has 6 mil accounts already.
Many VCs (like Tim Draper) invested large sums in bitcoins directly and several congressman voiced their positive opinions on btc as well.

Sure, they give out license to exchangers etc  and you have some in the congress being positive to Bitcoin but it does not say that they want to take over the driving seat directly

[isoneguy]

i doubt it. 1000 USD is a psychical barrier. When we are moving to 1000 USD everyone will panic and sell. This time for some triple digits again.

might be the last chance we'll get to buy this low...

[Biodom]

well i do not think western european or USA goverments care much about having control over bitcoin. They do care that their citizens do not use it to avoid tax or pay for drugs. Mostly see bitcoin as some  undeground tech for nerds and criminals , they do not see the ways of making bitcoin  working in their favour .

This is an uninformed point of view. They approved and licensed many institutions with multi billion $ flows.
Coinbase has 6 mil accounts already.
Many VCs (like Tim Draper) invested large sums in bitcoins directly and several congressman voiced their positive opinions on btc as well.

Sure, they give out license to exchangers etc  and you have some in the congress being positive to Bitcoin but it does not say that they want to take over the driving seat directly

This article suggests that they care more than you surmised:
https://cointelegraph.com/news/why-bitcoin-etf-approval-is-likely-72-percent-in-favor-so-far

....the approval of the Bitcoin ETF will place the SEC in a unique position to oversee the development of Bitcoin. It will also place the US at the forefront of Bitcoin development.
...the government will most likely want the Bitcoin ETF to be approved in order to maintain a more regulated Bitcoin market which it can oversee

[isoneguy]

Why would it want to regulate a market that it could manipulate outside of regulations as it currently stands?

[gentlemand]

There are another 2 etfs in the works after the winklevoss twins so even if it was declined it would give the others a better chance of going through in the future since the would know what caused it to be declined. Imo the winklevoss deserve to get it first though since they have been going through the process for so long.

If there is a denial the reason will be Bitcoin itself. Not much any application can do about that. Anyone reapplying in the short term would be throwing their money away because the only possible change on the horizon would be forkageddon. Better to wait and see what this beast gets up to.

[btcmerich]

@

well i do not think western european or USA goverments care much about having control over bitcoin. They do care that their citizens do not use it to avoid tax or pay for drugs. Mostly see bitcoin as some  undeground tech for nerds and criminals , they do not see the ways of making bitcoin  working in their favour .

This is an uninformed point of view. They approved and licensed many institutions with multi billion $ flows.
Coinbase has 6 mil accounts already.
Many VCs (like Tim Draper) invested large sums in bitcoins directly and several congressman voiced their positive opinions on btc as well.

Sure, they give out license to exchangers etc  and you have some in the congress being positive to Bitcoin but it does not say that they want to take over the driving seat directly

This article suggests that they care more than you surmised:
https://cointelegraph.com/news/why-bitcoin-etf-approval-is-likely-72-percent-in-favor-so-far

....the approval of the Bitcoin ETF will place the SEC in a unique position to oversee the development of Bitcoin. It will also place the US at the forefront of Bitcoin development.
...the government will most likely want the Bitcoin ETF to be approved in order to maintain a more regulated Bitcoin market which it can oversee

sorry but the article you linked do does not support anything . The thing here is  as we bitcoin fans can also agree on , that bitcoin is very easy to manipulate. Why would a goverment want to invest into that?

[richardsNY]

There are another 2 etfs in the works after the winklevoss twins so even if it was declined it would give the others a better chance of going through in the future since the would know what caused it to be declined. Imo the winklevoss deserve to get it first though since they have been going through the process for so long.

If there is a denial the reason will be Bitcoin itself. Not much any application can do about that. Anyone reapplying in the short term would be throwing their money away because the only possible change on the horizon would be forkageddon. Better to wait and see what this beast gets up to.

At this point the only reason this ETF might get disapproved is due to Bitcoin's volatile nature. But the point with that is, when that's really the reason it doesn't come through, how will this one, or maybe another one come through? The volatility won't likely diminish to such a level, that they find it stable enough to approve the next first ETF that comes their way.... But at this point everything is nothing more than empty speculation not really build on facts as at this point there aren't any until March 13 this month.

[Sundark]

No. This is the final deadline for Winklevoss ETF. Only aproval or dissaproval can be the outcome. They cant pospone and delay it anymore. So its a yes or a no.

It may be true for this particular ETF. It doesn't take much to change couple things under the hood and present slightly changed concept of ETF with changed name.
It is more than certain that in the end we will have Bitcoin ETF, owned by Winklevii or not. It maybe not in 2017 but certainly within next 3 years.