ETFs are gone, now it's Bitmain IPO?

[squatter]

IMO if Bitmain's IPO success, that would allow Bitmain continue to monopolize mining (both ASIC and pool) and we might continue see red days since they will have 51%+ hashrate on many cryptocurrency on both pool and ASIC.

Do you really think so? Why, because of the amount of funding the company might raise? That's one side of things, sure.

I was considering things from another perspective, though. An IPO is generally an exit strategy that intends to maximize the returns of early investors while raising capital for the business.

Between their missteps with Bcash and forecasted profit margins shrinking (I'm guessing), I think this is an exit plan for Jihan Wu and Micree Zhan.

[1714221114]

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[Fran4esco4]

I do not understand how the IPO of this Chinese company will help crypto market. But I understand exactly that the market reacts more calmly to the SEC, which means that soon we will see a new growth.

[Sandus_Cryptolover]

I don't see the correlation of Bitmain IPO and Bitcoin price. Bitmain's IPO has nothing to do with Bitcoin price at all. Also ETF isnt gone yet, the main deal is till September, which hopefully would be approved but then I cross my fingers till then.

[cryptokingdom]

Check through life there's no time that problem do finish. We are facing problem in different phases
So there no time problem will finish in cryptoworld. When one bad news ends expect another one in less than a week.

[CODE200]

Hours ago, several bitcoin ETFs were officially rejected by SEC. It sounds this FUD doesn't have as much effect as Winklevoss twins' rejection.
But this is not the end. There's a more attractive upcoming event, it's Bitmain's IPO. For those who don't know about Bitmain. It's the Chinese technology company, which behind ASIC miners and Bitcoin Cash. At first, this IPO seemed to be very promising but recently, pessimistic information about it showed up here and there.

IMO, Bitmain's IPO is a test on people's belief in cryptocurrency. If it successes, we might see those green days back. But if it fails, I doubt that we'll see market bleeding badly.  

Well, it's good thing that there are more system that continuously appears just to help bitcoin  to be much enhance and developed and in regards to continuously rejecting SEC to ETF it's not really disappeared maybe it's making much more better system or program therefore in the near future SEC will at last approving it. However, even ETF is not in the right track for.now we need to be thankful because there will be another system that will help bitcoin system to be more rising up and developed into our community.

[crzy]

I don't see the correlation of Bitmain IPO and Bitcoin price. Bitmain's IPO has nothing to do with Bitcoin price at all. Also ETF isnt gone yet, the main deal is till September, which hopefully would be approved but then I cross my fingers till then.

Thinking this also, we still have the chance to hear good news on the ETF. Also the SEC are reviewing their previous decision about ETF so maybe we will see a good news on September. Bitnain’ IPO is really a different story in cryptomarket, its a Chinese company but I don’t see that IPO can affect the market much?

[hatshepsut93]

We should avoid Wall Street financial instruments at all cost, because these fiat whales will destroy Bitcoin in a matter of weeks. They will come in and cause massive disruption and volatility, with their large access to money. <Other people's money>

Instead of us having price increases and drops of 2% to 10% per day, we will have between 20% to 50% price variance in one day, because this market is so small. Nobody will want to use their Bitcoin for payments in such a volatile market.   

We should send them a message to keep their ETFs/ETN's/IPO's .............................!

And how exactly are we going to avoid them? If they really want to get in, they'd influence the SEC to approve an ETF, and our opinion wouldn't matter. Also, if Bitcoin is so weak that it can get rekt by price manipulation from it's opponents (banksters, elites), than the whole idea was flawed from the beginning, because there's nothing we can do about it, we can't close exchanges or censor transactions we don't like. But I don't think that it's the case, Bitcoin can not be destroyed by price manipulation, and those who will try will fail and lose money, just like those who tried to spam the network.

[mohammedmattar]

Hours ago, several bitcoin ETFs were officially rejected by SEC. It sounds this FUD doesn't have as much effect as Winklevoss twins' rejection.
But this is not the end. There's a more attractive upcoming event, it's Bitmain's IPO. For those who don't know about Bitmain. It's the Chinese technology company, which behind ASIC miners and Bitcoin Cash. At first, this IPO seemed to be very promising but recently, pessimistic information about it showed up here and there.

IMO, Bitmain's IPO is a test on people's belief in cryptocurrency. If it successes, we might see those green days back. But if it fails, I doubt that we'll see market bleeding badly.  

From test to test to test
I see that many of these tests will eventually lead to the maturity of the Bitcoin community
This is what is needed to get rid of the panic.

[JakenBake]

I don't think Bitmains IPO is going to have much of an effect on the price of Bitcoin.  I do think the ETF news will.  Not because it should but because the media is going to hype it up and every blogger will write about it. 

[SuiMikira]

Bitmain IPO will be failed  because Softbank and Tencent have denied participating in Bitmain’s latest funding round. This is what i want it to be.

[tonthoduy]

They will come in and cause massive disruption and volatility. I think this is an exit plan for Jihan Wu and Micree Zhan.

[suchi2591]

Still hoping for something positive from the pending etf
 Last year hoped the same etf got rejected and Bitcoin start jumping.

[qiman]

Actually the SEC retracted their rejections of the latest ETFS but I have to say there is more FUD right now in general because the price manipulators of Bitcoin and other altcoins is still very big and they still want to crash the market in order to enter big time with bigger purses to purchase more of all the coins and the tokens at very cheap prices. We need to ignore parts of the news and media and read between the lines as it were in order to really see the agenda behind the FUD and what it is trying to create in the market.

[MainIbem]

I don't see how that will replace the ETF boom if SEC had approved it.

SEC reconsidered decision to deny Bitcoin ETF. I just saw this information, maybe they will review and accept Bitcoin ETF soon. Bitcoin will soon rise

It would have been nice if you had attached the link to the news about SEC planning to reconsider bitcoin ETF.

Yes. The Chinese are fond of twists and turns in this cryptocurrency influence.

when they first spread the China banned bitcoin FUD, the panic was huge. the next time more people knew it is FUD and didn't pay much attention to it. nowadays when someone says "China banned bitcoin" everyone just laughs at them.

[chocolah29]

SEC reconsidered decision to deny Bitcoin ETF. I just saw this information, maybe they will review and accept Bitcoin ETF soon. Bitcoin will soon rise

There's actually one more petition on this bitcoin ETF snd this will be the last petition that will reviewed by end of September. So this will be a win or lose situation for all of us.

But honestly, I see this as a manipulation like they're using ETF to create fuds when in fact ETF isn't needed by bitcoin and neither us. They'll just using this for their personal agenda. Really, weak hands will gonna cry if they'll sway by this.

[Bounty_Hunter]

IMO, Bitmain's IPO is a test on people's belief in cryptocurrency. If it successes, we might see those green days back. But if it fails, I doubt that we'll see market bleeding badly.  

I think that bitman expects success in the ipo, but it will not mean that we are waiting for green days. This will only mean that the industry is still alive and will have success in the future, nothing more.

[squatter]

Also, if Bitcoin is so weak that it can get rekt by price manipulation from it's opponents (banksters, elites), than the whole idea was flawed from the beginning, because there's nothing we can do about it, we can't close exchanges or censor transactions we don't like. But I don't think that it's the case, Bitcoin can not be destroyed by price manipulation, and those who will try will fail and lose money, just like those who tried to spam the network.

I don't think that would mean a flaw in Bitcoin. It might just indicate how powerful the banking elite is.

Do you believe any of the theories about price manipulation of gold and silver via the futures markets? That might be coming to the Bitcoin markets, with some of the derivatives that are being devised for institutions.

It might be inevitable, and it won't "destroy" Bitcoin of course. But these new instruments are nothing to celebrate.

[boakyei]

Attributing a single cause to bitcoins price change is not a good analysis. Exchange Traded Funds alone was not to be a factor in determining bitcoins price but it was hyped by investors? Now is Bitmain IPO, and is gonna be given another hype to break traders heart.

[squatter]

Attributing a single cause to bitcoins price change is not a good analysis. Exchange Traded Funds alone was not to be a factor in determining bitcoins price but it was hyped by investors? Now is Bitmain IPO, and is gonna be given another hype to break traders heart.

People have been linking the ETF decisions to price because there is an expectation (perhaps a false one) that approval would create huge institutional demand for BTC -- or for derivatives tied to BTC. I think the hype and disappointment around the rumors has a short-term effect on price, but won't fundamentally change things.

The Bitmain IPO is a separate matter entirely. It has no connection to the BTC price. In fact, the success or failure of Bitmain is becoming less relevant to Bitcoin all the time. Their miners are becoming less and less competitive, and they are planning to transition much of their business away from ASIC manufacturing and towards AI development.

[jerrison]

the new IMO and Bitmain IPO does not at all scare core bitcoin or blockchain technology enthusiasts as it is just another test that they have designed their minds to conquer whenever and wherever it presents itself. i know the test will come up with positive results at the end of the day.