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Author Topic: Why wait for the SEC? We are not their puppets on a string.  (Read 182 times)
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July 27, 2018, 06:48:16 AM
Merited by pooya87 (1), coolcoinz (1), ImHash (1)
 #1

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin.  Angry

We should forget about these government employees <Politicians>that are playing us like puppets and we should cut the strings and build on our own success.  Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them.  Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

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July 30, 2018, 04:30:38 PM
 #2

Many of the world still haven’t no idea about crypto. I hope if SEC approved BTC ETF’s it’s will be help to being bitcoin more sustainable and also can grow interest of newbie’s.
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July 30, 2018, 04:44:13 PM
 #3

SEC or no SEC, Bitcoin is still strong and already established. Politicians are way like that they fear and suspect that which is not within their control. Many and more people are going to keep buying and using bitcoin.
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July 30, 2018, 04:49:04 PM
 #4

These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them.
How do you vote to get rid of them if they are the ones in charge of the votes? Cheesy Governments are not doing anything for the people, They do everything to stay in power and rule over people.
They will never approve any ETF because they don't control bitcoin, This is just a method of third parties to help the price growing.

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cryptohunter
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July 30, 2018, 04:53:17 PM
 #5

Sadly though I agree with you for the most part there is a reasonable argument for having a body to protect innocent investors from investing in what could seem legit viable investment vehicles when they are really manipulated scams.

Reading just a bit of what the commissioner wrote it does seem that the sec are over reaching in their mandate by denying btc this opportunity. I have heard some say that the winklevoss proposal may have a weakness that some other proposals have nulled. So there is good reason to hope for approval.

You will not see any ETF's without SEC approval and many are not confident enough to trust themselves to go direct to btc.

So there is no option but to wait it guess. Nothing stopping anyone investing directly.

I heard (but may not be correct) winklevoss etf was reliant on their exchange alone for defining btc price where as other etfs are going to spread the average from many top btc exchanges. Hence it could be seen as being less easy to manipulate for any one party.
That may or may not be true.

A lot of investors like the supposed extra security of investing through an etf so it could be quite a huge step for btc.





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July 30, 2018, 08:36:18 PM
 #6

Only "hold" will not solve the problem of cryptomarket. The launch of ETF will ensure the inflow of new large money into the market and will win the trust of traditional investors.

pooya87
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July 31, 2018, 03:04:20 AM
 #7

i sometimes feel like some people tend to take steps backwards in bitcoin.

we created this peer to peer digital cash system so that we can transfer money from anywhere in the world to anywhere else in the world without requiring any third parties.
then they started creating web wallets and ended up with third parties like Coinbase for storing and using their bitcoins. something like bank of bitcoin...

then we started trading this currency and many lost sight of what bitcoin really is and turned it into an investment only in their heads.
and now they are taking two steps back by waiting for SEC to approve "bitcoin" or not, and also to go out of their ways to make bitcoin into a full on investment with ETF.

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July 31, 2018, 12:48:30 PM
 #8

This is not our fault, it is the fault of the system that we are in. If we do not wait for the approval and do something rogue, this may put us in trouble because we are living under the regulations of the state.
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July 31, 2018, 01:32:26 PM
 #9

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin.  Angry

We should forget about these government employees <Politicians>that are playing us like puppets and we should cut the strings and build on our own success.  Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them.  Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

I'm okay with staying strong as most of us probably are, but I can see two main points here that deserve our attention (or maybe not...).
On the one hand, the more Bitcoin becomes officially recognized, the better for its development and coexistence with fiat (i.e. more transparency->more trust->more people involved->more turnover, etc.)
On the other hand, providing Bitcoin gets more under the government pressure and restrictions, the crypto community always has a choice, like going underground, which is fine by me and even sounds more exciting Wink And going underground could mean higher prices (same as with the rest of the stuff that remains in the shadow)...
I might be wrong, of course. Just a thought.
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July 31, 2018, 02:06:17 PM
 #10

Price needs something to give it a nice boost. Been to slow to get back to the ATH so sec and etf will help that price increase, especially if it brings in institutional money
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July 31, 2018, 02:08:23 PM
 #11

When it comes to exchanges I think we see they can't regulate themselves. There aren't standards of how they should operate to protect the public. We will see a template at some point on how the brokers and exchanges should operate. We see this with the informal guidance given to coinbase. Hopefully, any regulations we see are only there for the purpose of protecting the public.
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July 31, 2018, 02:41:48 PM
 #12

I agree that many do not know about bitcoin. Let the whole world know and begin to work with the crypt) for me, DAC is better to be regulated than banned completely, as in some countries
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July 31, 2018, 02:48:14 PM
 #13

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin.  Angry

We should forget about these government employees <Politicians>that are playing us like puppets and we should cut the strings and build on our own success.  Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them.  Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!
We gave politicians so much power and they are even corrupt in almost all their ways.The cryptocurrency industry which was meant to have no external influence but solely peer to peer is now been messed up by government officials.All of a sudden, SEC is now to tell the future of bitcoin.People will either move away or move in based on what SEC will declare. This is not right.we are gradually changing the purpose of btc.
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July 31, 2018, 02:51:12 PM
 #14

You're right, why are we waiting for SEC, the market is not dominated by SEC, and I don't think the market is really going to have to wait for SEC to rise again, and I think we can make bitcoin more powerful as long as we try to develop the encrypted community.

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July 31, 2018, 04:23:51 PM
 #15

It's rather absurd, but eh... if a SEC approved ETF is what people want, let them have it. No one forces you to use the ETF, just as no one forces you to use and store your coins on Coinbase. It's silly, but people like doing silly things. As long as Bitcoin itself remains uncompromised and usable in a restrictionless way I'm not bothered.

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July 31, 2018, 04:39:22 PM
 #16

ETF approval is important because it would add reliability and safety to bitcoin. Additionally, the ETF approval will help to attract large funds in the market. That way, the demand of BTC will rise which will increase the price on a higher level.Sooner or later, bitcoin will get ETF approval.
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July 31, 2018, 05:09:01 PM
 #17

I'm not even convince about the SEC ETF on August Maybe on September or even on October that the price will climb high! What so important here is the regulation of all countries regarding bitcoin and the blockchain. Just hodl guys no matter what happens.

       
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July 31, 2018, 05:19:35 PM
 #18

ETF approval is important because it would add reliability and safety to bitcoin. Additionally, the ETF approval will help to attract large funds in the market. That way, the demand of BTC will rise which will increase the price on a higher level.Sooner or later, bitcoin will get ETF approval.


How can it add reliability or safety? Reliability has all to do with the protocol, not the stock market and saying that it will increase security shows that you don't know how ETFs work. They will in fact lower the security as coins won't be held by their owners but a third party. If that's security then maybe you should let me hold your coins for you, I promise my security is top notch! Cheesy
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July 31, 2018, 05:31:33 PM
 #19

It is sad that so many people are eagerly waiting for the SEC to pull the strings on the future of Bitcoin, when the future of Bitcoin is not built on governments approval or denial of financial instruments based on Bitcoin.  Angry

We should forget about these government employees <Politicians>that are playing us like puppets and we should cut the strings and build on our own success.  Angry

People should just continue to focus on natural growth and development of Killer Bitcoin applications and also improving the technology and distributing more Bitcoin ATM's etc. etc.

We should not place our hopes and dreams on what the SEC wants to decide, but rather what the people wants. These government employees are supposed to serve the people and if they stop doing that, then you should use your vote to get rid of them.  Roll Eyes

Stand strong, Do not sell to the Fiat masters and Hodl on!

very true, this is not for sec to tell us what to do. as long as us crypto community will keep growing and people will want crypto currecnies to survive, we have nothing to fear
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July 31, 2018, 06:03:31 PM
 #20

The thing is that we can't prevent wall street from entering, but at the same time wall street can't prevent Bitcoiners from using Bitcoin as they have always been doing.

Think about it, nothing will change fundamentally, just the price will keep increasing with how institutions pull out their big guns and pump Bitcoin beyond anything we can think of right now. Higher price means more miners (hashpower) being added to the network making sure that Bitcoin's network becomes stronger than ever before.

The only thing they are doing is feeding Bitcoin and making it a more powerful beast that is too strong to take down. People need to grow a thicker skin and look through all this circus. With or without ETF's and wall street on board, Bitcoin is and remains Bitcoin. Wall street can't bribe Bitcoin's main developer because there is none, which can't be said about ETH, XRP, BCH, EOS, etc.

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