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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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BitcoinNewbie15
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Bitcoin isn't a bubble. It's the pin!
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August 22, 2018, 02:56:43 AM |
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The general sentiment is that the VanEck/SolidX ETF is the most legit and most likely to be approved out of any of the other proposals. I personally feel the same way, and I think it is pretty likely that the Proshares proposal will be rejected. As for the market reaction? There definitely would not be a huge crash or major market reaction. Maybe there would be a small dip in price but that's all. Honestly, I think most speculators that are waiting for an ETF are placing their bets on the Solidx proposal. If that one was denied, I'm sure there would be a much stronger market reaction. |
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batang_bitcoin
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August 22, 2018, 03:01:19 AM |
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Sell or HODL before Aug 23?
I'm a solid holder so it doesn't matter to me whatever will be the outcome of this proposal. Thoughts on the impact of the BTC market ?
As expected, this is going to bring in confidence and will attract more investors. Will it be approved or rejected...?
Who knows? let's just wait for the final result, if it's approved then good but if its rejected, good as well as expected. |
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pooya87
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August 22, 2018, 03:03:39 AM |
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but if it is rejected, won't it have a pretty nasty impact on the market?
last one that got rejected was from Winklevoss brothers and that was hyped up and price fell a little, there was no "nasty impact" and that drop was mainly because the FUD was telling people ETF was rejected completely and it is is the end of the world  this new one is not even heard of. its rejection shouldn't even be heard. not to mention that people are starting to be convinced that ETFs are never going to be approved by SEC. and i think this upcoming rejection is a good thing because it will make more people believe ALL of them will be rejected soon. |
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flowers5
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August 22, 2018, 03:09:47 AM |
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I have been researching this topic a bit over the last few days. Most people think this one will be rejected by the SEC. Most also believe this one is not as viable as the WinkVoss proposal. Not sure how the markets will react.
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mk4
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Paldo.io 🤖
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August 22, 2018, 03:44:35 AM |
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I'm not saying it's going to be declined, but I'm not THAT confident as of now. I'm unloading a small amount of BTC for now just to protect me a bit if it drops, just to slightly reduce the risk. There's definitely also a good chance that it's going to be approved though. Probably worst case scenario it gets postponed like the previous ETF.
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aoihs00
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August 22, 2018, 04:00:08 AM |
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but if it is rejected, won't it have a pretty nasty impact on the market?
last one that got rejected was from Winklevoss brothers and that was hyped up and price fell a little, there was no "nasty impact" and that drop was mainly because the FUD was telling people ETF was rejected completely and it is is the end of the world this new one is not even heard of. its rejection shouldn't even be heard. not to mention that people are starting to be convinced that ETFs are never going to be approved by SEC. and i think this upcoming rejection is a good thing because it will make more people believe ALL of them will be rejected soon. Great so lets get ready for the "little" dump and nothing else. I believe that will also come from the people who are "too panicked" and doesnt understand what does it take to hold the bitcoin in place. One thing is sure, whatever might be the decision of ETF, the rest of the world is not going to wait after that day and everyone may just start to crawl in slowly so that the market will get to recovery zone. Just thinking that way until now. |
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FlexBrah
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August 22, 2018, 04:13:22 AM |
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The more significant date is 30 September. The approval is more likely to get at the CBOE, we are waiting
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qiwoman2
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August 22, 2018, 04:42:49 AM |
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I think it will be declined as usual and IF this ETF were approved it wouldn't benefit us hodlers in the long run as it will be determined and governed by Bitcoin futures, which have been one of the primary reasons the price of Bitcoin and all Altcoins got rekt in 2018. I am sure we will see a lot of tethering again tomorrow and Bitcoin bleed again by some 10% because as we all know the market doesn't behave rationally at all. So many other good things happening in the crypto space right now have no effect on the prices, only FUD and bad news move the market in a bear cycle.
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Juggy777
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August 22, 2018, 05:16:25 AM |
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If you believe in holding your coins then you should not be worried at all. I have never heard of this etf, and I believe it's rejection will barely cause any fluctuations in the prices. It's also pertinent to note that the market has already discounted, the possibility of all etfs being rejected so in the event it's rejected we might see small fluctuations only. I'm more excited for Cboe etf I'm sure it'll be accepted, the only question is when. |
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mobnepal
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August 22, 2018, 05:24:52 AM |
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Don't we have many etf rejection before? Does that have any real impact on market? I think no not any recognizable and right now bitcoin is still under oversold position so going any large dip from current price range is quite unlikely even if there will be really bad news for crypto.
I think it's still a buy time and gonna buy more if price will dive below $6k again.
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mk4
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Paldo.io 🤖
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August 22, 2018, 05:33:57 AM |
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Don't we have many etf rejection before? Does that have any real impact on market? I think no not any recognizable and right now bitcoin is still under oversold position so going any large dip from current price range is quite unlikely even if there will be really bad news for crypto.
I think it's still a buy time and gonna buy more if price will dive below $6k again.
Not sure about your definition of "real impact", but it definitely impacts the market significantly. On the past ETF we had a price bump before the deadline, and the price dipped when everyone knew that the ETF decision was postponed. I'm expecting the same to happen soon(no guarantees though, as usual). |
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Baofeng
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August 22, 2018, 06:42:04 AM |
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Don't we have many etf rejection before? Does that have any real impact on market? I think no not any recognizable and right now bitcoin is still under oversold position so going any large dip from current price range is quite unlikely even if there will be really bad news for crypto.
I think it's still a buy time and gonna buy more if price will dive below $6k again.
Not sure about your definition of "real impact", but it definitely impacts the market significantly. On the past ETF we had a price bump before the deadline, and the price dipped when everyone knew that the ETF decision was postponed. I'm expecting the same to happen soon(no guarantees though, as usual). Definitely has a impact but the dent will be short live. I'm having mix emotions as well but if ever SEC rejects this proposal, another good opportunity for everyone to purchased again. And to OP, would rather hold and then buy some if the market reacts negatively to another ETF rejection. |
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Wakkocu
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August 22, 2018, 06:45:45 AM |
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In the span of this week, the SEC must come to a lasting decision on two specific ETFs, finalizing whether it is approved or disapproved them, Decision will effect to the current market I think so ETF will reject this time also
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coinwizard_
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Most Advanced Crypto Exchange on the Blockchain
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August 22, 2018, 06:49:44 AM |
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The previous rejection didn't have a huge impact but gemini have been unsuccessful before so no-one expected them to succeed anyway. This won't be the last application so a rejection won't end bitcoin, but it will delay the next bull run
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Buttermellow
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August 22, 2018, 06:53:43 AM |
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Probably it will be approved it seems that cryptocurrency is already ruled out in every country and there is a huge possibility of approval since the system is already running on every country. If i were you taking already the risk here in cryptocurrency means that you have to endure it and earn well in the near future. |
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yatsey87
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August 22, 2018, 06:54:09 AM |
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I thought the decision was next month in September not this one? https://www.coindesk.com/sec-delays-vaneck-solidx-bitcoin-etf-decision-to-september/The previous rejection didn't have a huge impact but gemini have been unsuccessful before so no-one expected them to succeed anyway. This won't be the last application so a rejection won't end bitcoin, but it will delay the next bull run
The one last month did. A denial is never going to be good for the price because people always panic like idiots. |
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GhostWithin
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August 22, 2018, 06:57:18 AM |
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The previous rejection didn't have a huge impact but gemini have been unsuccessful before so no-one expected them to succeed anyway. This won't be the last application so a rejection won't end bitcoin, but it will delay the next bull run
That's for sure. We are waiting for a whole series of rejections, which will definitely affect the price, but will not kill BTC. |
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close up
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August 22, 2018, 07:04:34 AM |
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Hopefully, it won't get approved because I need to make a profit in this situation of the market since the dump at 10000$
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dlhezter
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August 22, 2018, 07:13:30 AM |
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I will wait for the results before making a decision for now I will hold my hodlings, but hoping that it would be accepted so that the value of bitcoin would not crash at the moment let's find hope for this, so we can move for another support of 10000$ and the bull would start and the bear season would end and everyone will be back on their track. |
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