Bitcoin ETF: Better rejected or approved?

[virasog]

Hello Everybody,

We see the price of Bitcoin rise and fall since the start of the year and there are a lot of factors driving it. Generally, it is affected by its rate of adoption, trading/gambling markets, investors and global authorities and issues. We specified three factors of which we think made a big impact on the price of Bitcoin today. One is obviously the recent Bitcoin ETF rejection and other things are mentioned on this article.

So, what can you say about Bitcoin ETF? Is it better rejected or approved? What do you think guys? 

Those people were trying to make Bitcoin Equal to the dollar, which some people agreed and disagreed. For myself i dont agree on this. Bitcoin should be kept as a separate entity and it is for sure not be good.
However we have seen a high price increase to 1300$ at the time this news came, It was strange for me also.

[TIDOVEE]

Bitcoin ETF would be better approved atleast for now, the rejection wouldnt really affect Bitcoin value but for the underlying market structure per-se, at this moment the  price will have to fall since the market structure has not been well shielded against the effect.If it be rejected it wouldn't have a long term impact

[justdimin]

if EFT was approved we wuld sitting on 10k value right noe, how can you think this is not a good thing? EFT would bring very rich investment in the bitcoin ecosystem can't be a bad thing, but despite thi bitcoin is holding strong i like it, this mean that bitcoin can grow without anything supporting it

But interestingly the rejection of ETF worked in favor of bitcoin to showcase how strong the faith of bitcoin investors and how hardly they prefer to hold bitcoins for their future. The stable current prices are showing the on-going sentiment of bitcoin adopters which will definitely attract new people to start believe into bitcoin ecosystem.

[1Referee]

I don't think Bitcoin was meant to be used in institutions but in situations where your anonymity is the one that matters the most. The ETF rejection was better in my opinion because otherwise steps would be taken until well have the least anonymity possible. I prefer not having to deal years later with the government that wants to know where is all my Bitcoin money and to impose taxes on it.

You don't understand how things work, and also don't understand what an ETF is. If you buy yourself a certain postion into this Bitcoin related ETF, you don't actually own any Bitcoins, and thus it has nothing to do with the anonymity that you are referring to. Also, if person A invests in this ETF, it will have zero influence on person B that has not invested in this ETF. With or without ETF, you can just continue with whatever you were doing and still hide your coin stash from your local government.

[franckuestein]

For some people in this thread, the unique argument for acceptance is "yes because bitcoin value in USD or oder trading pairs will be worth more".
Bitcoin has been more than 8 years without the Winklevii ETF. Has there been a problem during these years?

BTC/[insert_any_pair_here] rate It's not the only thing that matters.

[DomainMagnate]

Hello Everybody,

We see the price of Bitcoin rise and fall since the start of the year and there are a lot of factors driving it. Generally, it is affected by its rate of adoption, trading/gambling markets, investors and global authorities and issues. We specified three factors of which we think made a big impact on the price of Bitcoin today. One is obviously the recent Bitcoin ETF rejection and other things are mentioned on this article.

So, what can you say about Bitcoin ETF? Is it better rejected or approved? What do you think guys? 

ETF rejection is obviously bad but that is not the end of world.Although if btc had ETF approval,it is a different story and even a single bitcoin holder would be a millionaire.

[markyminer]

if EFT was approved we wuld sitting on 10k value right noe, how can you think this is not a good thing? EFT would bring very rich investment in the bitcoin ecosystem can't be a bad thing, but despite thi bitcoin is holding strong i like it, this mean that bitcoin can grow without anything supporting it

But interestingly the rejection of ETF worked in favor of bitcoin to showcase how strong the faith of bitcoin investors and how hardly they prefer to hold bitcoins for their future. The stable current prices are showing the on-going sentiment of bitcoin adopters which will definitely attract new people to start believe into bitcoin ecosystem.

yes we do not need for artificial increase in the price of bitcoin, because there are more chances that if the bitcoin price will dramatically increase then its price can fell down also with the same rate.

[bitcoineverything]

The ETF is useful in the way that it would allow institutions to take a serious position into Bitcoin (even though they would not directly own Bitcoin). It would help the price to move faster to higher price levels, and thus be beneficial for basically every holder. But if you look at how things are without this ETF, then it won't have a single impact on how Bitcoin will keep moving further. It's not that this ETF is the only thing for people to hold on to. As long as there is demand, the price will continue to increase. Demand is all that matters. It makes everything else obsolete. Only important thing is that we need to up the block size as it's clearly visible that the demand has greatly outgrown the current poor 1MB cap.

However, what do you think about the possibility of Bitcoin being regulated by the government. Some people think this is a little bit scary.

[vnvizow]

IMO it doesn't really matter now that ETF has already been rejected, new solutions will arise and we'll have to come to a decision on those too

[Herbert2020]

i think ETF approval could be a good thing for bitcoin. but it never could have been a life changing thing! the effect being good could have been small.
and i say it could have a positive effect because i believe it could potentially change the view of people about bitcoin easier. most people see past the bullshit and FUD but a lot of them are also falling for it. and bitcoin officially entering markets could have been good.

[1Referee]

However, what do you think about the possibility of Bitcoin being regulated by the government. Some people think this is a little bit scary.

I personally don't see it as a problem since we can't expect the governments to sit back and look at how Bitcoin is growing larger without putting serious regulations in place. Bitcoin offers people freedom in decentralized form, and exactly that is something that gets all governments worried. In most cases the regulations put in place have no real effect on people using Bitcoin. The effects of these regulations might be felt when you try to sign up at an exchange, where they want more personal information from you than ever before. In some cases funds can be put on hold until you (re)verify yourself. That's why P2P services as LocalBitcoins have seen their volumes increase significantly.

[shinratensei_]

So, what can you say about Bitcoin ETF? Is it better rejected or approved? What do you think guys? 

As a bitcoin supporter and I will glad to see the bitcoin ETF was approved, but it looks like us securities were having the different thought with us. But we still have a chance to see solidx and grayscale.
https://www.washingtonpost.com/news/get-there/wp/2017/03/10/sec-rejects-bitcoin-etf-application-from-winklevoss-twins/

[Schuyler]

The fact that it took four years for the SEC to still disapprove bitcoin would already put bitcoin in the radar among investors. They had to turn it down for some reasons but that might change a few years from now when bitcoin is already at a very high price. People from SEC will be singing to a different tune once they see that bitcoin is really a great investment for the long term.

[BTCLovingDude]

The fact that it took four years for the SEC to still disapprove bitcoin would already put bitcoin in the radar among investors. They had to turn it down for some reasons but that might change a few years from now when bitcoin is already at a very high price. People from SEC will be singing to a different tune once they see that bitcoin is really a great investment for the long term.

i hope you know that they didn't reject "bitcoin" they rejected "winklewoss ETF" and these two are different!
they didn't accept the proposal that those guys had to add their ETF and it has nothing to do with bitcoin itself and whether SEC approves of bitcoin or not. and this means even if bitcoin price goes up high, they sill are going to reject that ETF!

[Xester]

The fact that it took four years for the SEC to still disapprove bitcoin would already put bitcoin in the radar among investors. They had to turn it down for some reasons but that might change a few years from now when bitcoin is already at a very high price. People from SEC will be singing to a different tune once they see that bitcoin is really a great investment for the long term.

Investment on bitcoin is somehow new to SEC and its high volatility is a freaky one compared to the prices in the stock market. The rise and fall of bitcoin is abnormal and it happens in wide ranges such as from 700$ going to 1000$ and it will go back to 700$ again. Stock commodities volatility doesnt go in that bracket in a short time the average is just from a centavos to one dollar in a week.

[target]

Its better for Bitcoin to be rejected. We will all be regulated in the end if if were approved. Its not going to have a value of $10k per bitcoin, that's not going to happen. have you seen the effect already?  There will be another attempt for it to be approved. If the date of it approaches,  these investors will be moving their money again to altcoin like ETH and Dash. Its never a good thing for us, pretty soon they will all be sending their money to coins concentrating to anonymity features.

[hollandvan]

Rejection is good, now is cheap, buy more, we still have time, if bitcoin is approved, btc will be 2000 usd.

[kelsey]

bitcoin was designed to be indifferent to gov, regulations etc, for it to be approved by SEC for an ETF it has to lose its whole reason for existence.

thats lost on 'the bitcoins going up in fiat price yahhhhooooooo' crowd that plagues this crypto scene.

[Slark]

So, what can you say about Bitcoin ETF? Is it better rejected or approved? What do you think guys?  

We have seen different reactions to ETF decline, from moderate and to totally ridiculous statement.
There is no one ideal commentary for this case. But I want do debunk one idiotic myth mainstream media reports:
that Bitcoin is losing 'legitimacy' due to the ETF - it is total bullshit, how can you measure worth of something so unique?

Andreas Antonopoulos:

"If you measure bitcoin's success by the approval of the incumbent and obsolete industry it replaces, you're doing it wrong"

Source: https://twitter.com/aantonop/status/840310679076777984?ref_src=twsrc%5Etfw

[talkbitcoin]

all we can say at this point is that the approval of this ETF could have been better than the rejection of it.
but being rejected nothing is going to change for bitcoin, we never needed it in the first place. it could be a nice "option" for certain people out there to invest in bitcoin and show bitcoin in a positive light to the world as a side effect. but bitcoin should always remain decentralized and investing in it should also be done this way.