I'm sure Gensler will use this as another excuse of no BTC etf since digital security is hard.
SEC has not approved Bitcoin ETFs [fixed]
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Re: SEC has not approved Bitcoin ETFs [fixed]
#162The 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.
This is quite literally not a pump and dump by the SEC. A pump and dump would require the same entity to be doing the buying, pumping up, and then dumping the asset. The SEC didn’t buy, nor did it sell, nor did it pump up the price (someone pretending to be the SEC pumped up the price). Even assuming that the “largest pump and dump” claim is correct, at most, the SEC was used for that purpose and isn’t “responsible”…
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Re: SEC has not approved Bitcoin ETFs [fixed]
#163Earlier quoted context omitted.
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.
> an ETF would make it a lot easier to buy Bitcoin How? Serious question. What would it enable that hasn't already been possible for many years now?
It'll be marginable in a normal brokerage account
Re: SEC has not approved Bitcoin ETFs [fixed]
#164Anybody else not buying the fact that they got hacked? Seems more like they fat fingered the tweet, we'll see tomorrow.
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Re: SEC has not approved Bitcoin ETFs [fixed]
#165Is this fabled Bitcoin ETF really going to be the "to the moon" moment that everyone in the ecosystem seems to be expecting? From personal experience, I can't think of anyone who wants to buy Bitcoin but hasn't been able to by now. It takes a few clicks on Coinbase/Robinhood or a similar exchange. Plenty of 401k/IRA managers (including Fidelity) offer it as an option. So what exactly changes once this ETF is live?
Being able to buy it in a run-of-the-mill tax advantaged account would be a very big deal. It's possible to do it now, but not easy.
Why is it not easy? Your fund manager has to click a button to enable it. You have to click a button to buy it. How will an ETF make it easier?
Re: SEC has not approved Bitcoin ETFs [fixed]
#166I am glad to see the cyberpunk future of hackers impersonating government agencies in order to pump and dump digital currency has finally arrived.
Barely makes an impression in the parade of crime that is web3isgoinggreat.com/
Can you explain how web3 is responsible for all the crypto nonsense for a layman?
Re: SEC has not approved Bitcoin ETFs [fixed]
#167Is this fabled Bitcoin ETF really going to be the "to the moon" moment that everyone in the ecosystem seems to be expecting? From personal experience, I can't think of anyone who wants to buy Bitcoin but hasn't been able to by now. It takes a few clicks on Coinbase/Robinhood or a similar exchange. Plenty of 401k/IRA managers (including Fidelity) offer it as an option. So what exactly changes once this ETF is live?
There already are bitcoin ETFs you can trade anyway, they track bitcoin futures.
$BITO and $BITI
Re: SEC has not approved Bitcoin ETFs [fixed]
#168The 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.
How is the SEC responsible for fraud committed on Twitter?
By using Twitter as a communications channel for official announcements, they are at least legitimizing it.
If they have any reason to be concerned about the security of their account (and it looks like they should have at least from now on), they should arguably reconsider their choice of platform.
Re: SEC has not approved Bitcoin ETFs [fixed]
#169Is anyone else wondering what the password was?
Re: SEC has not approved Bitcoin ETFs [fixed]
#170Earlier quoted context omitted.
The old crypto chants were that crypto would lead us away from the ills of traditional markets/finance. Glad to see that it's been watered down to "just as bad as" arguments.
Tomorrow your bank could cut you off from your own money because you protested the government[1], and what could you possibly do? Having the freedom to truly own your own money and investments is valuable in and of itself, no matter how much crypto "devolves" towards traditional finance in other regards. [1]: https://www.nytimes.com/2022/02/22/world/americas/canada-pro...
Honestly, the first thing I'd do is hope that they forgot that I make house and car payments though them and that they forgot how much damage they could do to my professional life just by intentionally sabotaging my credit. Crypto doesn't provide any realistic protection to me from their whims should they become bad actors.