After Nine Bitcoin ETF Rejections! What is the Solution to Mainstream Adoption?

[olumyd]

Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?

It's not a matter of finding a solution, per se. Adoption and organic network growth happen spontaneously and over time. Sometimes growth is stagnant or linear; other times it's exponential. Bitcoin's built-in economic incentives appear to be solid, so as long as Metcalfe's Law keeps doing its thing, we just need to sit back and wait.

An ETF doesn't matter. They're mostly just for traders and fund investors. It's safer and much more true to the original intent of Bitcoin to simply buy, hold and use BTC rather than bother with securities like ETFs.

As Lubin rightly suggested in an interview with Bloomberg, it's glaring that the Blockchain industry has evolved several times over. This being said, every bit of innovation arising from new economic instruments and technological breakthrough will only push us further than we are ready for. I seriously think this is why the market has been dwindling and yet to settle at a real price. However, all fronts for adoption to be considered, ETF alongside the bakkt underpin an important adoption potential into the mainstream financial market.

As for Bitcoin buying and hodling, honestly, that ship has sailed. The best thing is to learn to trade and if the asset improves in worth, make sure you have enough to leverage. Old tricks are waning in this industry, have a combo. Invest in new ICOs [okay, permit me to shill a little - MFChain], trade the best assets against the FOMO cryptos, and hedge just about enough for hodling purposes.

[deisik]

Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?

No, I don't think that accepting ETF proposals is the right path to success, so to speak

And yes, it is mostly the price instability of cryptocurrencies which is preventing crypto from genuine adoption, though it looks more like a vicious circle of sorts. Simply speaking, Bitcoin ETF's can be thought of as the cart before the horse problem. If you look deeper into the assets which derivatives are traded via ETF's, they are all established stuff in the real world, like gold or other commodities. When there'll be real "mainstream" adoption, all these questions and problems with ETF's approval will go away on their own

[Menawi12]

Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?

Cryptocurrency market already run for more than 9 years without ETF and its good. Maybe ETF is good for crypto market but i think its not everything for cryptomarket. The important thing in any investment is not be panic and mostly what happen in market recently because many people panic with fake news

[pumbum]

these deviations are intended, no one said that cryptocurrencies will be accepted instantly. The market is not ready yet

[Ucy]

Solution remains peer-to-peer decentralized transactions. It is the original goal of Bitcoin for a good reason. Other solutions (especially the centralized solutions ) are corruption of what Bitcoin represents . .
ETF and other like it are uneccessary distraction in my opinion . Bitcoin and other Cryptocurrency have visions. We need to stick to the visions by all means.
 Centralization must be avoided.

[0t3p0t]

We don't need any ETF, and the average Joe doesn't even know what is ETF. Go in the street to ask about, you will maybe find 2% of people who know what you're talking about. So I don't see how it can help with the mainstream adoption. Only the Bitcoiners care about ETF with the hope to see any accepted, and it's not to get Bitcoin recognized, it's just a matter to see the price jumping to make more profits.
#FollowTheMoney

I agree with your opinion mate since Bitcoin is decentralized asset we don't need those ETF thing for Bitcoin to workout maybe they need Bitcoin for them to workout with the biggest Bitcoin community all over the world. Life goes on with decentralization they may call it as revolutionary currency but still they can do nothing about Bitcoinas people arround the world are united as one with Bitcoin which fiat can't as all countries prefer use their own shit that is why they will find ways to eliminate Bitcoin but the fact is Bitcoin community won't let that to happen.

[Maheshkumar_Hrangkhawl]

BY now it has become clear that the SEC will never approve Bitcoin ETFs. But there are a few loopholes, that can be exploited by the Bitcoin users. For example, Bitcoin-based businesses can try for listing in the major exchanges such as NYSE and NASDAQ.

[coinplus]

People are forgetting the simple yet powerful adoption technique.

If we try to find a way to legalize bitcoin to the fullest, like really make it something common and allowed by the government and taxed by them, the first thing we can do is give out ads on televisions and put up papers everywhere and so forth. I think it can be amazingly powerful if you could just grind the way regular companies do.

Yes, bitcoin is a huge innovation and people working for blockchain and new coins and ICO's and all that are amazing developers who are very futuristic however marketing is simple, you need to market it old fashion way to get the old fashion people.

[carlisle1]

Better have no ETF for the bitcoin because it will bring more institutional investors who just do bump and dump the coins so the crypto currencies will become a full time investment rather than the currency system.
The solution to mainstream adoption is start accept bitcoin as currency and start using bitcoin where you can spend that.

Thats a better stand dude,since this ETF thing is breaking the market again.separating bitcoin and altcoins in capitalization.but for me bitcoin and the altcoins can stand without this and can be mainstream in future,the popularity of cryptocurrency is spreading the whole universe and this will take another couple of years to become true

[merchantofzeny]

ETF or not we got enough movement to keep this thing going. There are people willing to invest ride the wave. With every plunge whales dive in and have their fill, with every spike newcomers jump right in and inject new money.

We don't need any ETF, and the average Joe doesn't even know what is ETF. Go in the street to ask about, you will maybe find 2% of people who know what you're talking about. So I don't see how it can help with the mainstream adoption. Only the Bitcoiners care about ETF with the hope to see any accepted, and it's not to get Bitcoin recognized, it's just a matter to see the price jumping to make more profits.
#FollowTheMoney

I actually only heard of the term after I became familiar with bitcoin and I still have a hard time understanding it. 

[audaciousbeing]

BY now it has become clear that the SEC will never approve Bitcoin ETFs. But there are a few loopholes, that can be exploited by the Bitcoin users. For example, Bitcoin-based businesses can try for listing in the major exchanges such as NYSE and NASDAQ.

That is not the right word because despite the challenges that is being faced, never is not the right word. Several years ago people would have said same sex marriage would never be allowed but today it has happened. Several years ago some people would have agreed that a Blackman would never be US president but it happened and another relevant is the issue of cannabis which of course would have been said cannot be legalised but today states have changed the narrative to the surprise of many.

Bitcoin ETF would still be approved but it will happen when we all don't expect it. When everyone is not even banking on a positive outcome. Mainstream adoption is the continuance gradual penetration of the importance and the solution that it brings. That will bring about mainstream supported by policies.

[shinharu10282016]

Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?

Mainstream crypto adoption? Transparency and regulation. That is it. Nobody would want a business which is gaining anything from terrorists and the like. One of the cons of crypto imo is its transparency. Nobody knows who you are in the blockchain. But they know you are there.

[aencarnaci]

Solution remains peer-to-peer decentralized transactions. It is the original goal of Bitcoin for a good reason. Other solutions (especially the centralized solutions ) are corruption of what Bitcoin represents . .
ETF and other like it are uneccessary distraction in my opinion . Bitcoin and other Cryptocurrency have visions. We need to stick to the visions by all means.
 Centralization must be avoided.

Well, that is the original goal, but the question now is how many people are actually making that P2P transaction.
I totally agree that ETF proposals and other bullshits are simple distractions which no one should even really bother about, and what it would bring in apparently, would just be more money, but not from adoption, instead, from the same manipulators who would always want to make things work their own way.

What we need now for mainstream adoption is to see bitcoin properly in use as a currency with no issue of slow transactions, high fees and then we get to have easy payment for services or goods, and let's see if bitcoin will not hit the mainstream level of adoption.

[justdimin]

these deviations are intended, no one said that cryptocurrencies will be accepted instantly. The market is not ready yet

Obviously, we still have a lot of progress that need to be make when it comes to scaling in particular, so being ready for the mainstream is something no one can really look forward to at the moment. As long as we are able to get the currency aspect of bitcoin out and people start using it in real life, I am sure the rest would just be history. The solution right now to mainstream adoption is to see proper real life usage with scaling problem solved, and that is not what we have so far.

[muslol67]

First of all, we need to know. ETF is an important decision! But it is not a must! While Bitcoin is already a global currency, the ETF is only the US decision. Yes it is very important to be approved and I hope. But it is not right to link Bitcoin's future to this!

[sanimu461]

out of the 9 rejections, a solution will definitely come out so that by the end of this year bitcoin will increase or at least like last year, and I really expect that

[Kprawn]

The key to mainstream adoption is real participation. You cannot have 90% people sitting back and waiting for the price to

increase and 10% people spreading the word about Bitcoin and also asking merchants to adopt Bitcoin. If everyone just made

a little bit of effort and went out there to spread the word about Bitcoin or just to actively get involved in getting merchants to

accept bitcoins, then we would have had mainstream adoption. We do not have time to be passive price watchers, we need

action from everyone involved in Bitcoin.