Coinbase is down.
SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
21–30 of 357 posts
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#22Earlier quoted context omitted.
imho it stabilizes and goes back to 1200. It surged from 2011-2014 without the ETF...Bitcoin is seen as a safe haven against global destabilization. A lot of money on the sidelines looking for a buying opportunity that has come
"Bitcoin" and "safe" in the same sentence is an odd look.
safer than many foreign currencies, which have lost 30-99% of their value relative to the USD since 2013
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#23Yet the price has only dropped around 80 dollars compared to yesterday. Not too bad. For a few minutes it dropped by around 250 dollars but it picked up quickly somehow.
it went up 1000% without the ETF...suggesting anticpation of the ETF only played a minimal role..I would be a dip buyer here
On the other hand, anticipation of the ETF may have been responsible for the last few months of increases from ~700-1250 USD. But that's pure speculation on my part.
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#24that was great to watch, went from $1300 to $975 in about 90 seconds. We'll see how long the dead cat lasts. See you at $600.
imho it stabilizes and goes back to 1200. It surged from 2011-2014 without the ETF...Bitcoin is seen as a safe haven against global destabilization. A lot of money on the sidelines looking for a buying opportunity that has come
Why is it seen as a safe haven?
Like if the internet got broken up, Bitcoin would be even harder to use safely.
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#25Coinbase is down.
https://status.coinbase.com/
What a lovely shade of red, it really matches the charts!
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#26So if you have a rare-earth metal commodity ETF that can be dug from the ground in conflict areas and have exchange markets in these wild areas, would the SEC deny that commodity ETF then because they wouldn't have surveillance-sharing agreements with those markets?
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#27"The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that co…
Which is exactly right, but couldn't the same argument be used against a gold etf?
Yes this was my question. Do gold ETFs list under the same exchange rule?
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#28This is the same committee that approved VXX and UVXX ,which have lost 99.999% of their value
There is an OTC fund that holds Bitcoin...but at a large premium to NAV
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#29"The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that co…
Which is exactly right, but couldn't the same argument be used against a gold etf?
No, the significant markets for gold are very much regulated.
Re: SEC Rejects Rule Change for Bitcoin Exchange-Traded Fund [pdf]
#30Earlier quoted context omitted.
"Bitcoin" and "safe" in the same sentence is an odd look.
safer than many foreign currencies, which have lost 30-99% of their value relative to the USD since 2013
Yeah but we're talking about a loss of 30% of its value in under 5 minutes. Brexit vote to the GBP wasn't even that bad.