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'No Reason to Not Allow' the Bitcoin ETF to Go Ahead — Says SEC Commissioner
*says 1 of the 4 SEC commissioners, while the other 3 are opposed
The reason for the other three rejecting the Winklevoss Twins ETF was that they were going to use their own exchange for the price.
-"The main focus of the SEC is investor protection," Nurov said. He noted that the Gemini ETF share price was entirely dependent on the bitcoin price on Gemini's own exchange.
-They gave a 92 page decision, you think it really came down to one sentence as to why it was rejected? They said Bitcoin prices can be easily manipulated. Not just because they would use Gemini prices.
-" Bitcoin prices can be easily manipulated " That means upcoming ETF applications will get rejected as well
-Etf might get approved next year, I think it’s still a bit too early.
-what'll be different next year? do you reckon the time of insane price swings and market manipulation is over?
-ETF won't get approved until after 2020.
Can we just say the deciders making the decisions won't change until they can benefit. That's it. You can write a 200pg doc that explains why- but if have one alternative motive then who cares what hypothetical problems they can list.
Bitcoin doesn’t need a damn ETF. Stop trying to pump your own fucking bags. If you are in it for the tech. The ETF is meaningless. It doesn’t change anything about bitcoin fundamentally. EU already has similar products like ETF and it does nothing.
-Btc wont replace fiat anytime soon mate and btc is both a store of value and currency so a ETF is a very legitimate way for investors to put their money into it just like gold. Stop with your “in it for the tech” bs. 100% of people who invest money are in it for the money otherwise why invest?
-Until a large portion of the public have a positive view of Bitcoin or Cryptocurrency in general, businesses won't implement, because if people won't utilize the form of payment, it's worthless. The public recognizes certain authorities (Such as the SEC) as able to legitimize currencies, investments, etc., so until we start getting big money in, the majority of the public will not invest in crypto, meaning implementation will be minor, and the goal of crypto will not be complete. The majority of the public, wont give a shit about the tech. and take a risk with their money and livelihood until they are convinced it is legitimate.
-Stop pretending that there's people who are just in it for the tech.
There's literally nothing tech related about holding bitcoin. It's a speculative investment.
The only people who could claim it's just for the tech are those who aren't holding anything and are actively developing the space.
Very misleading headline
-like every title in this sub
No reason not to allow moon.
No reason to not lynch writers that use double-negatives.
So the SEC commissioner is the sole decision maker? Sounds like it’s a group decision or something.
-There is 4 commissioners, similar to Supreme Court Justice as there isn’t just one
Jerking away, are we?