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SEC has not approved Bitcoin ETFs [fixed]

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101–110 of 518 posts

Re: SEC has not approved Bitcoin ETFs [fixed]

#101

The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.

Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?

> Imagine your bank balance is suddenly worth half as much because someone wrote a tweet.

That's just as possible with regular stocks, which Twitter's owner has (unrelatedly) demonstrated multiple times in the past with both Tesla and Twitter... or, a bit slower, in the early covid months.

Stock markets are insanely sensitive to "insider" information and breaking news in general, which is why the regulations around them are so strict.

Re: SEC has not approved Bitcoin ETFs [fixed]

#102

The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.

Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?

How is Twitter still taken seriously?

Re: SEC has not approved Bitcoin ETFs [fixed]

#103

Earlier quoted context omitted.

The SEC twitter account has a grey check, which you cannot get by paying $8. https://twitter.com/SECGov

What does the grey check mean?

https://help.twitter.com/en/rules-and-policies/profile-label...

"The grey checkmark indicates that an account represents a government/multilateral organization or a government/multilateral official. Eligibility criteria to receive a complimentary grey checkmark are listed below. Additional government and multilateral accounts can receive grey checkmarks through Verified Organizations.

Eligible government organizations at the national level may include: Main executive office accounts, agency accounts overseeing specific areas of policy, main embassy and consulate accounts, and parliamentary or equivalent institutional and committee accounts. Eligible government organizations at the state and local level include: Main executive office accounts and main agency accounts overseeing crisis response, public safety, law enforcement, and regulatory issues.

Eligible government individuals may include: Heads of state (presidents, monarchs and prime ministers), deputy heads of state (vice presidents, deputy prime ministers), national-level cabinet members or equivalent, the main official spokesperson for the executive branch or equivalent, and individual members of all chambers of the supranational or national congress, parliament, or equivalent.

Eligible multilateral organizations may include: the main headquarters-level, regional-level, and country-level institutional accounts. Eligible multilateral individuals include: The head and deputy-head or equivalent of the multilateral organization.

US only: Accounts of current US state governors and senior military leaders are also eligible.

Eligible accounts may apply here. (link)

Any government or multilateral accounts that do not qualify under our current grey checkmark criteria can see if they’re eligible under our Verified Organizations feature."

Re: SEC has not approved Bitcoin ETFs [fixed]

#104

The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.

Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?

“Half as much” is unnecessary exaggeration. All assets with a high reading volume can be manipulated with a tweet. News of a Bitcoin ETF is no different than positive news for any other asset. I think your bias is making you ignorant to general market mechanics.

Re: SEC has not approved Bitcoin ETFs [fixed]

#105

I love watching crypto people obsess about the fabled Bitcoin ETF. You'd think it was some kind of religious movement. "Oh glorious SEC, once thou bestowest thine blessing, Crypto shall rise a thousandfold! Glory to Bitcoin!"

It’s not irrational: an ETF would make it a lot easier to buy Bitcoin, which would increase demand. It’s funny though, because if Bitcoin would work as well as advertised, a traditional exchange shouldn’t offer this kind of advantage.

Re: SEC has not approved Bitcoin ETFs [fixed]

#107
post #52

I am glad to see the cyberpunk future of hackers impersonating government agencies in order to pump and dump digital currency has finally arrived.

Unlike the long history of price manipulation in traditional markets?

Unlike conventional science fiction.

Re: SEC has not approved Bitcoin ETFs [fixed]

#108
post #93
post #58

Earlier quoted context omitted.

Twitter/X is not an authoritative source of news, regardless of whether it is an "official" account doing the Tweeting or not. Anyone can get a blue check by paying $8/mo.

what is an authoritative source? does it come with a certificate?

The SECs website?

Re: SEC has not approved Bitcoin ETFs [fixed]

#109

Yeah this is really bad for BTC longs. now it will probably be delayed. it's obvious that there is too much fraud and manipulation.. The SEC cannot in good conscious allow an ETF to protect investors (yes, ETFs which have lost all value like UVXY have been approved). Whoever did this furcked over wall street and these funds. Wow. never a dull moment.

Who in the world is still long on crypto? In the past few years we've seen ample evidence that crypto is largely a complete scam, and likewise strong evidence that none of crypto's hoped for value will come to fruition (we didn't see it useful for fighting inflation, it's not being used to avoid sanctions, it certainly isn't being used as a currency, etc). The fact that crypto still has any market value, and that com…

Agree. I would not touch it. Poor risk to reward ratio compared to stocks or other alternatives, too much risk.

Re: SEC has not approved Bitcoin ETFs [fixed]

#110
post #58

The price of BTC initially jumped 3% on the hacked tweet. That's $25bn+ of market cap. The irony is the SEC itself is probably now responsible for the largest crypto pump and dump in history.

Twitter/X is not an authoritative source of news, regardless of whether it is an "official" account doing the Tweeting or not. Anyone can get a blue check by paying $8/mo.

We really really really need some legislation about governmental agencies using privately owned companies to announce things.

There was already some for radio/early news, but the landscape has changed so much, and it bothers me a ton that these platforms are being used.

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