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cryptohunter
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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG
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August 24, 2018, 01:22:37 PM |
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unless the etf is forced to settle in btc and hold the amount they say in a transparent address then an etf is probably not that great for btc
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Masatos
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August 24, 2018, 01:34:25 PM |
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I think that the commission will approve one of all applications and this will be quite enough for the market
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bangkecol
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August 24, 2018, 01:40:40 PM |
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It seems difficult to agree, because every transaction that is done sec, will enter their data, because with this when something happens, it is easy to track.
a lot of considerations are done sec, one of them is that bitcoin is very likely to be used as a negative payment instrument, perhaps trading illegal goods. Because it is not visible who is using the transaction.
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Blockstate
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August 24, 2018, 01:42:37 PM |
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All the SEC rejections are based on this “(5) The rules of the exchange are designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, processing information with respect to, and facilitating transactions in securities, to remove impediments to and perfect the mechanism of a free and open market and a national market system, and, in general, to protect investors and the public interest; and are not designed to permit unfair discrimination between customers, issuers, brokers, or dealers, or to regulate by virtue of any authority conferred by this chapter matters not related to the purposes of this chapter or the administration of the exchange.”
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dat.ho12492
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August 24, 2018, 01:59:00 PM |
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Don't worry about it buddy. They may be rejected the first application but another application which is gonna reach them by coming September will be accepted the market soon. All you need to do keep clam and wait for the update. However price boom will be happening soon. Actually, I think a wise person and have been involved in bitcoin for a long time, they will have nothing to worry about this news because big guys always love to play this game to make money from the market. Rejected then revisited then rejected, everything was programmed to the destination, and the goal of this program is to increase the value of bitcoin to a very high, nothing to worry about when we know the destination, more important is patience and wait
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ballerin and giroud
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August 24, 2018, 02:13:42 PM |
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SEC approved will have a good effect on the bull run market for crypto currency, but yeah untill now SEC still rejects proposals for ETFs. There are still many opportunities to be well received by the SEC and of course it takes time to make it happen. We just wait, hopefully there are good things that will make the SEC accept proposals for ETF.
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Juggy777
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August 24, 2018, 02:35:16 PM |
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I don't think you should believe everything you read on Reddit, they're no experts that can give the final verdict regarding ETFs. If you were keeping a close track of bitcoins ETFs, then you would have noticed none of them qualified as per the existing rules, also they were not filed properly and a majority of them were not even known brands. There'll definitely be an Sec approved etf, and therefore i'm keeping my fingers crossed for the Cboe etf, as I'm positive that it shall be cleared. Once it's cleared it'll lead the rally of bitcoins as that's the only legit etf out there.
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BrewMaster
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There is trouble abrewing
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August 24, 2018, 02:35:33 PM |
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The commission did not approve the first applications but the September 30 application seems to me that it will be approved and we will fly to the moon that is the whole point that the link in OP is pointing out which probably you didn't read. it basically says SEC rejected ETF because they say bitcoin price can be manipulated. and since this is not going to change with different ETFs, the upcoming one(s) will also be rejected. and i think it has a good point. nothing has changed about bitcoin. they have been rejecting ETFs for more than a year now, so why should they change now? and don't you worry we will go to the moon, probably faster without ETF!
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There is a FOMO brewing...
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dothebeats
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August 24, 2018, 03:11:49 PM |
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Perhaps they wouldn't, because all of the postponements for sure, regardless of all the considerations, would be inevitably rejected due to bitcoin's 'susceptibility to price manipulation' which I think makes sense on the side of SEC's standards. No matter how good ETF proposals are, price manipulation for bitcoin is always present, no matter how hard the regulations are trying to minimize or eliminate it. Perhaps these people could just divert their energy and attention towards other aspects and areas, just not ETFs which we know will never, ever be approved no matter how hard they try.
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Kprawn
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August 24, 2018, 03:17:45 PM |
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The SEC is using global manipulation of the Bitcoin price as an excuse, not to approve these ETF applications. They want to be able to determine who these people or groups are that are manipulating the price and that is simply impossible, because Bitcoin users are pseudo anonymous and not all trading is done on platforms where people are identified. So, we will have to accept that a Bitcoin ETF will never be approved on that condition. {They could just use the local exchange price as a data source, but that is still influenced by the global price}
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criptouser
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August 24, 2018, 03:36:45 PM |
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In fact, the SEC is right on the one hand. many people have a great opportunity to manipulate the price of bitcoin. However, on the other hand, the SEC intends to use these manipulations themselves, but they will not be physically allowed to do it.
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Variogam
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August 24, 2018, 04:04:37 PM |
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ETFs are just good for speculators, and Bitcoin has enought speculators already. I would preffer if the lighting network software gets much better routing first, then widespread lighting network adoption - this would make Bitcoin super usefull instead. After this I would not mind ETF with physically backed Bitcoins.
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Hkim21
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August 24, 2018, 04:57:36 PM |
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I think this condition will change if bitcoin is able to develop further, the thing that has been feared all this time is the value of bitcoin that is fluctuating and unclear consumer protection against hackers that so far has happened, if bitcoin is able to handle it then most likely the SEC will accept BitcoinETF
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pawanjain
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August 24, 2018, 05:17:05 PM |
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There are chances that the SEC might not approve the ETF proposal due to legal and trust issues the governments are facing with BTC. Anyway, it shouldn't matter because one or the other way the institutional investors will be involved with BTC in the future. So if BTC price doesn't increase now then it will surely increase in future. So my advice for the people will be to stay optimistic and not panic even if the EF proposal is rejected.
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[/tabl
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darkangel11
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Don't let others control your BTC -> self custody
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August 24, 2018, 05:46:23 PM |
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First of all we are yet to see the first real BTC ETF get rejected (or approved)> All the ones that got rejected until now were trying to base their profits on futures or the price indexes of certain exchanges. Since the exchanges aren't fully regulated and are prone to manipulation ETFs that don't hold real BTC could go bankrupt at any time. If VanEck gets rejected things will look bad for the etfs, but I have faith in Hester Peirce
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namcunguyen
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August 24, 2018, 06:03:35 PM |
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SEC argues that because the Bitcoin market from the beginning does not have the capacity to resist manipulation. So based on a single transaction sand to determine ETF value Bitcoin is capable of leading billions of dollars in new capital into the market, posing high risks.
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Slow death
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Leading Crypto Sports Betting & Casino Platform
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August 24, 2018, 07:46:43 PM |
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So will there never be an SEC approved bitcoin ETF? Of course, someday there will be some ETF bitcoin, or you think that the governments will allow 5 years from now, that there is have exchange that is not regulated to operate normally. I even think that all governments should already ask the exchange licenses, we can not close our eyes and let exchange as yobit exist and to continue and render bad services, this is becoming a scary. How many people have lost money because the exchange has withheld these people's money? What was the punishment Yobit has suffered to this day because hold money from many people? we do not even know who the yobit owner is, where is yobit located? we do not know anything And we still want the Bitcoin ETF to be approved? we need more time for everything to be properly regulated
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Starving_Marvin
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Open and Transparent Science Powered By Blockchain
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August 24, 2018, 08:03:22 PM |
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I have heard that they are having 240 days which is legally possible in order to postpone the decision and guys are thinking then they will use every of those days to wait.
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