Good picture to explain the ETF situation

[eternalgloom]

When I was looking up the prices earlier, I thought the ETF was approved, since I just saw a price spike go to around 1340 dollars on Bitstamp.
Must've been something else though.

I personally would rather see it get approved now, can't wait to follow the hype once it happens.

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[electronicash]

When I was looking up the prices earlier, I thought the ETF was approved, since I just saw a price spike go to around 1340 dollars on Bitstamp.
Must've been something else though.

I personally would rather see it get approved now, can't wait to follow the hype once it happens.

indicators says its not going to be approved. those users won't be buying something else if they know it would be approved. if it has to be approved to which they want bitcoin to moon, they would have done it long before 2016's spike so they could ride up. almost 90% sure not going to be approved. i wish the other way round though.

[sunsilk]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

[traderethereum]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

[mrcash02]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

Yes, we need to do the best with the situation we have. Everyone should be prepared for the ETF deny. The panic isn't good, I just hope the traders see there isn't reason for panic, that Bitcoin will continue its way as it was until now. As OP picture says, if we weren't to the moon, we will go later, Crypto-Currency is unstopped now.

[lordquanta]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive.

[deisik]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive

What we have just seen is no more than a knee-jerk reaction (as I said earlier)

And most likely somewhat accelerated and exaggerated by manipulators to knock bitcoins from the weak hands with the aim of buying up while prices are low. I guess in a matter of a few days (if not hours) the prices will revert to well over 1,200 dollars per coin (and likely stay there). As to me, there was no real hype linked to the ETF approval expectations (as I also mentioned earlier) since the market expected that the ETF proposal would be rejected. In other words, the price growth we have seen as of recent was organic, not juiced up on rabid hype and mass hysteria

[VanDeinsberg12]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive.

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin.

[deisik]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive.

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

[Karloff]

If ETF will be denied, there's no need to see the price of bitcoin dropping. Whether it will be approved or not.

Still we will see the price of bitcoin to keep on increasing, bitcoin is created that way as long as there are new comers that will invest.

And if there are people that will keep on using it, ETF will just make a small difference but of course I want it to be approved. 

I guess the approval by SEC is the little part of the bitcoin journey. And i think i don't like the approval caused by it seems like just a business. So more money will flow to the bitcoin and the twin winklevoss will take the advantage by the SEC approval with a lot of the partnership in the future. and they will become billionaire and currently they're millionaire.

There's no need to hope anymore, the decision is simply denied. Let's move on and keep the fate and believing the price of bitcoin to pump.

I expected this to happen and many holders did panic selling I will sorry for them. Too bad that they loss a lot of potential profit.

Let's get back to reality and now hope the price will pump before the year ends.

if the decision is really denied, then its better we continue from what we do and gets prepare for anything that will happen in future, we need to watch and learn about what will happen in the market and i think that we can see a little panic from the traders like last night when we see the price is getting pump so high.

The decision is rejection and it caused correction. This is indeed good lesson for all those who were believing price is going to moon just because of ETF. Hopefully some ongoing correction will continue and market will stay positive.

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

[deisik]

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

Indeed, it would make it worse

Since there is not a single reason why Bitcoin price can be sustainable in the long term unless there is a constant inflow of new money into the system (either new users pouring their money into Bitcoin or old users increasing their stashes). Without real world usage (i.e. as a genuine currency), Bitcoin is basically still a pyramidal scheme, where the income earned by some comes from the losses of the others. Why do you think the twins so desperately want the ETF approved? Because they have around 100M dollar worth of bitcoins. They would be among the first to profit directly from the simple folks once the latter start bringing their dollars to them

[Mario274]

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

Indeed, it would make it worse

Since there is not a single reason why Bitcoin price can be sustainable in the long term unless there is a constant inflow of new money into the system (either new users pouring their money into Bitcoin or old users increasing their stashes). Without real world usage (i.e. as a genuine currency), Bitcoin is basically still a pyramidal scheme, where the income earned by some comes from the losses of the others. Why do you think the twins so desperately want the ETF approved? Because they have around 100M dollar worth of bitcoins. They would be among the first to profit directly from the simple folks once the latter start bringing their dollars to them

So it turns out that in fact, ordinary people do not need any approval? It is only necessary for the brothers. Simple people continue to use bitcoins, making it popular and without approval

[pixie85]

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

Indeed, it would make it worse

Since there is not a single reason why Bitcoin price can be sustainable in the long term unless there is a constant inflow of new money into the system (either new users pouring their money into Bitcoin or old users increasing their stashes). Without real world usage (i.e. as a genuine currency), Bitcoin is basically still a pyramidal scheme, where the income earned by some comes from the losses of the others. Why do you think the twins so desperately want the ETF approved? Because they have around 100M dollar worth of bitcoins. They would be among the first to profit directly from the simple folks once the latter start bringing their dollars to them

So it turns out that in fact, ordinary people do not need any approval? It is only necessary for the brothers. Simple people continue to use bitcoins, making it popular and without approval

Not only for the brothers. I'm sure they had many wealthy investors lined up to go in. Many people would earn a lot of money if it got approved: bankers investors even small traders and if the price started to skyrocket, holders and small fish like me. This was only one of many attempts to establish a large investment platform. Now it's time to review the documents, and put money to work. Grease the gears of the machine if you know what I mean

[Grdas130979]

I think your right that eventually we will see a bitcoin ETF and i have read a few articles that have been saying now is not the best time to get one anyway.  If your a hodler like me it dosnt matter anyway im in the for the long run

Personally, I don't see a lot of sense behind a Bitcoin ETF as such

It is assumed that this ETF would be investing in Bitcoin (as the name suggests), but here's my question. Namely, why would anyone want to buy a share in this ETF if he could just buy bitcoins directly? If you don't have enough dough to buy a whole bitcoin, you can just as easily buy a part of it. The smallest order at almost all major exchanges is around 0.01 BTC nowadays (and at a smaller ones it is even lower than that), so you can buy coins with just a few (dozen) dollars. Such ETF's make sense when you can't buy a stock because it is prohibitively expensive for lay folks to buy just one share of a company directly. For example, not everyone can pay over 200k dollars for a single share of Berkshire Hathaway, but with an ETF that invests in these shares, you can indirectly buy a tiny part of Warren Buffett himself

It will help people who have a lot of money invested in assets to put some money easily in BTC ecosystem without the need to have a wallet, security etc. It will also give a sence of legitimize to BTC

[deisik]

What's correction? It caused by the SEC is believe if all of the business and the service are running on the bitcoin ecosystem is purely illegal and there is no legal aspect of the bitcoin ecosystem. And the SEC try to ignore the bitcoin eth caused by that reason. We will need a long time again to get more countries be accepting bitcoin

You seem to be heavily exaggerating it

The SEC declining the ETF proposal essentially means that they don't want the money of lay people to enter Bitcoin. In other words, they consider Bitcoin too risky and speculative as of yet. It is no use making a mountain out of a molehill here. This decision doesn't in the least make Bitcoin illegal or anything to that tune. I suspect that if it was illegal, the SEC wouldn't even accept the application for the ETF approval in the first place. So you can get some comfort in the fact that they did consider this application after all and didn't throw it out the window right off the bat

Anyway, it's very unpleasant.
It seems to me that the government was simply frightened of what could have happened if there had been a positive decision. Many would start buying bitcoin and this would have made the economic situation of the country worse

Indeed, it would make it worse

Since there is not a single reason why Bitcoin price can be sustainable in the long term unless there is a constant inflow of new money into the system (either new users pouring their money into Bitcoin or old users increasing their stashes). Without real world usage (i.e. as a genuine currency), Bitcoin is basically still a pyramidal scheme, where the income earned by some comes from the losses of the others. Why do you think the twins so desperately want the ETF approved? Because they have around 100M dollar worth of bitcoins. They would be among the first to profit directly from the simple folks once the latter start bringing their dollars to them

So it turns out that in fact, ordinary people do not need any approval? It is only necessary for the brothers. Simple people continue to use bitcoins, making it popular and without approval

That's the point I was trying to make recently

You don't need ETF to invest in Bitcoin. It is a lot easier for more or less tech literate (just computer literate) people to buy bitcoins directly than to buy, say, stock. You don't need brokers and as much capital, since you can buy as little as 0.01 BTC (a little over 10 dollars). But with Bitcoin you are on your own, i.e. to accept all responsibility for all decisions you are going t take. On the other hand, allowing ETF could potentially bring into Bitcoin the money of people that otherwise wouldn't want that (e.g. pension funds) which could just destroy their pension plans

[deisik]

It will help people who have a lot of money invested in assets to put some money easily in BTC ecosystem without the need to have a wallet, security etc. It will also give a sence of legitimize to BTC

People who have a lot of money could bitcoin without much hassle themselves and get done with that

Not only for the brothers. I'm sure they had many wealthy investors lined up to go in. Many people would earn a lot of money if it got approved: bankers investors even small traders and if the price started to skyrocket, holders and small fish like me. This was only one of many attempts to establish a large investment platform. Now it's time to review the documents, and put money to work. Grease the gears of the machine if you know what I mean

This is all empty talk

Even if this pathetic ETF was approved all the folks you mention (especially, big fish) wouldn't give a fuck about it. What does prevent the Winklevoss right now from trading their own bitcoins (all 100M dollar worth of them)? Do they need an ETF approval for that? Their logic behind the ETF application that they filed is as clear as a day. They just want profits from their Bitcoin investments (which is understandable). Apart from that, the wealthy investors don't need the twins at all. Or do you really think they would go for ETF if they could more easily go for bitcoins directly and not have to deal with the brothers altogether (read pay them a significant part of their profits provided there should be any)?

[target]

It will help people who have a lot of money invested in assets to put some money easily in BTC ecosystem without the need to have a wallet, security etc. It will also give a sence of legitimize to BTC

People who have a lot of money could bitcoin without much hassle themselves and get done with that

Not only for the brothers. I'm sure they had many wealthy investors lined up to go in. Many people would earn a lot of money if it got approved: bankers investors even small traders and if the price started to skyrocket, holders and small fish like me. This was only one of many attempts to establish a large investment platform. Now it's time to review the documents, and put money to work. Grease the gears of the machine if you know what I mean

This is all empty talk

Even if this pathetic ETF was approved all the folks you mention (especially, big fish) wouldn't give a fuck about it. What does prevent the Winklevoss right now from trading their own bitcoins (all 100M dollar worth of them)? Do they need an ETF approval for that? Their logic behind the ETF application that they filed is as clear as a day. They just want profits from their Bitcoin investments (which is understandable). Apart from that, the wealthy investors don't need the twins at all. Or do you really think they would go for ETF if they could more easily go for bitcoins directly and not have to deal with the brothers altogether (read pay them a significant part of their profits provided there should be any)?

Damn right! Bitcoin can work as it had been since time. If can freely be traded for any currencies and can be used to buy goods already. Why is there the need for ETF when all the freedom is already along with it which is why its the very essence we always emphasize "Decentralized".  It kept the price up even with ETF we're still good. We'd just complicate things if they are around. Let the government worry about bitcoin not us worrying about them.