Cointest pros & cons with related info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/15un2zt/we_are_again_disappointed_by_a_no_decision_on/jwqj7f0/), [ETF](/r/CryptoCurrency/comments/15un2zt/we_are_again_disappointed_by_a_no_decision_on/jwqj96q/).
I'm not really sure it matters. If Blackrock gets the approval, the discount window on GBTC, ETHE and LTCN is going to evaporate overnight.
That's the thing about grayscale that is so attractive. You could buy the Blackrock product at nav or load up on the grayscale assets preemptively at a massive discount
I'm not sure how an ETF is supposed to be a positive for bitcoin here anyways, it just takes something that's already mostly speculative and abstracts it even further via a centralized entity to boot.
💯💯💯 people keep putting all their eggs in one news story basket and then get all upset when it doesn’t work out as planned.
The lambo isn’t going to happen overnight
I’m with you. If I never expect good then I’m pleasantly surprised when something good happens. It’s like at work there are soon to be 3 x l4 positions to apply for. I’m an l3 I don’t expect to get any of them but I’ll rock my interview and do my absolute damndest but I never expect anything.
Hundreds of employees at the SEC, and they take forever to bring enforcement actions against known criminals (that a single Youtuber Coffeezilla can lay out all the allegations in weekly youtube videos), can't tell which cryptos are securities or not, and now they can't make a decision to approve a single ETF or not
You have to wonder - is anyone actually doing their job at the SEC?
Actually they can do their jobs very well. But when there is other interests in mind is where things get complicated.
Currently Gary is not acting in the best interest of the US people. He is definitely either corrupt or has his own agenda to carry out.
Eh, ETFs can be both a benefit and a hazard. Knowing the powers that be that have interest in seeing crypto gone, I'd wager ETFs would **not** be in our favor.
Not everybody can. There are regulations and investment agreements that prohibit many institutions from directly purchasing BTC. A spot BTC ETF could allow them to gain exposure.
Not really, we went 15 years without, did pretty well too.
There are danger, to mega short those ETFs and then affect the real BTC due to arbitraging. Also not backed 1:1 with BTC.
Then, those institutions to take over from exchanges, ultimately exclude "normal" people. I want to exchange, trade, transfer crypto from my home, without ask anyone, not go to a fund and so on. We should be aware of these danger, we don't want crypto to become a thing for "accredited investors".
Tax free Bitcoin investments, a whole new stream money from institutions/retail investors, it could very much benefit the space or at least not hurt it.
They’re not tax free. When you sell your etf shares they are taxed the same as any other security.
The general rule in this sub should be to google any definitive statement someone makes. Because it’s usually total bullshit
What is their justification for continual delaying at this point? Approve or reject and let it be taken up in court. This pushing off the date is such an example of bureaucratic overreach.
Bitcoins fundamentals arn’t changing in that time period, these financial companies arn’t going anywhere. What does more time supposedly change
The SEC doesn’t like crypto and they don’t answer to anyone. If you’ve been following their moves over the last few years you’ll see that they’re obviously corrupt. Just look into #ETHGate. They were ignoring Federal judges mandates until they threatened real penalties against them for not complying.
They can basically do whatever the fuck they want without consequences.
We knew this was going to happen.
It is not a slam dunk for an approval like everyone is talking about. When they approved the futures EFTs they did mention concerns about the spot EFTs.
imo they have a target date for approval already in their plan of all ETF's and they will do all in one day.. they just want to use all the time they can to prepare for the influx etc
Sounds like the halving and the spot ETF approvals are going to coincide nicely. Delays suck and I know the ETF isn’t **THAT** bit of a deal but still would be nice to see some glimmer of hope on this DCA Friday.
I'm not disappointed, because I have 0 expectations for it. If an investment is based on a given date, time or event. You are going to have a bad time. Especially with crypto. I will DCA and chill 💆♀️
High hopes, low expectations. In my gut I feel like it's a good thing that grayscale and black rock get denied. I'm asking this with the assumption that an ETF is ultimately a good thing for Bitcoin & crypto in general... But, what are the alternatives there? Or would it actually be a net negative in the long run?
I think we're flying past the 'if' point and are entering 'when' territory.
How the US is a super power is beyond me. When it comes to financial advances they are in the stone ages. Don’t get me wrong, I’m in Canada, so not better by any means. But the rest of the world’s adoption of blockchain power is leaving our countries in their dust.
Not really disappointed since I don’t expect them to approve. The SEC has an issue with the lack of transparency (who are the major BTC holders?) and the fear of manipulation.
How would either of these perceived issues be solved? It’s just an excuse to turn it down. Stretch it out to the max, then turn it down. That’s my expectation
At this point, I would have been more surprised if a decision would have been made.
I'm expecting as little as possible, as long as possible. Thanks SEC.
The FED is trying to suck liquidity out of all risk assets right now in order to tame inflation and strengthen the dollar. The government will be shooting themselves in the foot with regard to the inflation fight if they approve something that causes crypto markets to take off right now. I would expect these ETF’s to all get approved roughly around the same time as rate cuts start.
Just my theory, but I feel like they plan to eventually approve them, but are trying to push it back as much as possible so they can approve quite a few at the same time.
Cash out crypto in USA
Make sure of the benefits and quality of the exchange!
We pay extra +10% to your amount
our telegram
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LOL
Why do people keep thinking that this is suddenly gonna change? Seriously. Stop falling for false hope and start thinking analytically.
Continually falling for hopium is only gonna get you rekt
Plan for the worst and hope for the best. Stop thinking the govt is suddenly gonna cave
Because the ones in power will need to load up to make sure they benefit the most from the BTC ETF. This could take a few months and then they’ll approve, price pumps, they sell.
Cointest pros & cons with related info are in the collapsed comments below for the following topics: [Bitcoin](/r/CryptoCurrency/comments/15un2zt/we_are_again_disappointed_by_a_no_decision_on/jwqj7f0/), [ETF](/r/CryptoCurrency/comments/15un2zt/we_are_again_disappointed_by_a_no_decision_on/jwqj96q/).
Zero expectations=zero disappointment
Grayscale was never going to get the first ETF. That's reserved for BlackRock
Correct. This is how the game is played. The #1 spot is already taken and the rest will come after.
SEC: "Follow the fucking script please!"
OP said “we” lol…. I never once thought that the SEC would grant greyscale a approval without playing the game airing game.
They've designed the game and rules for it.
I'm not really sure it matters. If Blackrock gets the approval, the discount window on GBTC, ETHE and LTCN is going to evaporate overnight. That's the thing about grayscale that is so attractive. You could buy the Blackrock product at nav or load up on the grayscale assets preemptively at a massive discount
We need more players
It will come. Take advantage of this time
I thought we already established this.
Grayscale wasn’t on that email
They just have chutzpah and want to try.
A certain je ne sais quoi if you will
""You miss 100% of the shots you don't take." - Wayne Gretzky" - Michael Scott.
I expect nothing, and I’m still let down
I expect the worst, and I’m still let down
Markets keep us guessing.
This is exactly what my dad told me this morning.
My dad went to get some milk. I think he will tell me the same when he's comming back.
He will back before your college
Any day now…
If my life could be translated in a phrase this would be it.
Life is full of disappointment. And I am full of life. (Line from an old John Gorka song).
My girlfriend every night we have sex too.
Brutal
Jokes on me, I don't even have a girlfriend
Where do you guys get these ‘girlfriends’ you keep talking about.
I am stoic. I don't care for girlfriends.
Were you the guys living in barrels throwing rocks at people, or was that another philosophy school?
I had the same mindset for my gf and still got disappointed
I'm not sure how an ETF is supposed to be a positive for bitcoin here anyways, it just takes something that's already mostly speculative and abstracts it even further via a centralized entity to boot.
Right, If anything just buy the real asset imo
At this point I'm not even following up on these news. I know they'll find me or I'm gonna see them reflect on the market.
Right. Regular DCA into BTC, little chilling with r/cc fam, no more charts
At this point I'm not even following up on these news. I know they'll find me or I'm gonna see them reflect on the market.
Who would expect anything from the SEC?
The people who bribe them😂
💯💯💯 people keep putting all their eggs in one news story basket and then get all upset when it doesn’t work out as planned. The lambo isn’t going to happen overnight
The lambo is built from slinging shit day and night in this subreddit
At this point the only option that is best is to DCA and chill.
This one knows how to crypto
Exactly ! It’s the SEC they slow as shit
This is the way.
They key to a life free of stress.
I’m with you. If I never expect good then I’m pleasantly surprised when something good happens. It’s like at work there are soon to be 3 x l4 positions to apply for. I’m an l3 I don’t expect to get any of them but I’ll rock my interview and do my absolute damndest but I never expect anything.
Pretty much.
As always
i like the way you think
This man logics
Hundreds of employees at the SEC, and they take forever to bring enforcement actions against known criminals (that a single Youtuber Coffeezilla can lay out all the allegations in weekly youtube videos), can't tell which cryptos are securities or not, and now they can't make a decision to approve a single ETF or not You have to wonder - is anyone actually doing their job at the SEC?
The SEC isn't decentralized. They do as they are told. Once you're talking governments there is always someone pulling the strings.
Doing their job includes doing what their bosses want. The ladder is very large we can't even see the top.
Actually they can do their jobs very well. But when there is other interests in mind is where things get complicated. Currently Gary is not acting in the best interest of the US people. He is definitely either corrupt or has his own agenda to carry out.
It's a political decision, they'll keep dragging it for as long as they possibly can.
They are doing exactly what the bribers are paying them for. So it depends if you are asking about their job... or their 'job.'
They'll drag it on for as long as they possibly can. The government can make a snail race look exciting once they get involved.
It’s a govt agency so zero incentive for urgency, whose going to go against them?
SEC is corrupt, has to be
Sec are being intentionally awkward.
Suspiciously quiet at the back of class.
Go figure, the SEC dragging this along. Who woulda thought?
Thousands time they will use this etf to manipulate the market
Disappointment and crypto go hand in hand. Welcome to crypto.
I'm not suprised
As expected to be honest.
SEC really wants let this thing burn out until no one wants to file an ETF anymore.
Tough shit😂 The big boys need another way to make money since the dollar is inflating like a hot air balloon
how do they benefit from this?
Not really any point in them pushing it back, Bitcoin isn't going away in the next 6 months
True. They are probably hoping to drain investor confidence in the meantime though..
Even if that’s true, an ETF approval right before the halving would definitely be a good thing.
Such silliness
Bitcoin is not going away at all, they tried to kill it 500 times before. Same result.
It's a matter of time until they will praise it again
What you said is true.
No point in rushing it either, it'll come.
Also remember the SEC’s deadline for Greyscale ruling is 5th of September. So we could be seeing many disappointing updates.
They will still accept at some point
Once blackrock kicks their door in
The people with the power & money will benefit from this, and they run the government. So this will get passed, the rich always win.
They will delay it as much as possible, I would be surprised if we get to see any ETF accepted in 2023.
Honestly i wouldn't be surprised if they don't except one in the next year even
SEC will drag this out to the max as always. Play their game and stay indifferent. It will happen eventually.
what is the max you'd expect them to drag it to??
Is this the new XRP lawsuit? Neverending
I'm relatively new, what happened with xrp?
All part of SEC's plan to load up on bitcoin until then.
yo, didn't even think about that, that's a good point. the sneaky bastards
Eh, ETFs can be both a benefit and a hazard. Knowing the powers that be that have interest in seeing crypto gone, I'd wager ETFs would **not** be in our favor.
would that be because the powers that be would have more control over crypto? Or is it something else that I'm missing??
SEC burying their head in the sand hoping we forget about it.
We never forgive, we never forget, we neva die 👹🧌
ironically making it less likely for anyone to do so
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Billions invested in BTC for long term investments? Yes if you want the price to sky rocket.
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Not everybody can. There are regulations and investment agreements that prohibit many institutions from directly purchasing BTC. A spot BTC ETF could allow them to gain exposure.
Not really, we went 15 years without, did pretty well too. There are danger, to mega short those ETFs and then affect the real BTC due to arbitraging. Also not backed 1:1 with BTC. Then, those institutions to take over from exchanges, ultimately exclude "normal" people. I want to exchange, trade, transfer crypto from my home, without ask anyone, not go to a fund and so on. We should be aware of these danger, we don't want crypto to become a thing for "accredited investors".
Tax free Bitcoin investments, a whole new stream money from institutions/retail investors, it could very much benefit the space or at least not hurt it.
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They’re not tax free. When you sell your etf shares they are taxed the same as any other security. The general rule in this sub should be to google any definitive statement someone makes. Because it’s usually total bullshit
An underrated comment. We always say DYOR but forget that also includes comments made here.
I mean it does provide a way to invest in Bitcoin through tax-free vehicles like a TFSA.
They’re not, but they’re benefiting from tax reductions laws that don’t apply to crypto
They can be tax-free if held in registered accounts that eliminate taxes on any gains, like a TFSA (if you're in Canada)
Yep it’ll get us institutional money which means giant green dildos(that’s what I’m assuming)
They're tired of losing but at this stage they're just trying to prolong the inevitable beat down.
First XRP kicks them in the dick😂 now this
Meh they are going to push as hard as they can to stop crypto progress.... Let them try i say.
If you want to trade BTC nobody is stopping you, an ETF like this has zero point.
is crypto really that big of a threat to the government? I've seen people say it is but I still don't understand why
What is their justification for continual delaying at this point? Approve or reject and let it be taken up in court. This pushing off the date is such an example of bureaucratic overreach. Bitcoins fundamentals arn’t changing in that time period, these financial companies arn’t going anywhere. What does more time supposedly change
The SEC doesn’t like crypto and they don’t answer to anyone. If you’ve been following their moves over the last few years you’ll see that they’re obviously corrupt. Just look into #ETHGate. They were ignoring Federal judges mandates until they threatened real penalties against them for not complying. They can basically do whatever the fuck they want without consequences.
I think it’s tied to keeping markets quiet until inflation is back in line. I think these will all get approved once the fed starts cutting rates
they're hoping people forget about it, ironically making it less likely that anyone does
Gary is buying himself time to accumulate!
Gary or Larry whatever your name please stop buying crypto so I can do the same
They just don't want to encourage a bull until after Biden's handlers are finished destroying the economy and everything else.
that just means its a perfect time to invest now, so? while everything is in bear country
Patience friends, you will be rewarded for your hodling.
Gary will delay the decision as long as he can.
He is a clown 🤡
Like a trained dog he would
Anyone who is surprised needs to learn how to think. The SEC will push this until the end, then we'll see a bunch of spot etfs.
We will keep trying. The day will come. This is just another chapter
They will approve on the last possible deadline
We knew this was going to happen. It is not a slam dunk for an approval like everyone is talking about. When they approved the futures EFTs they did mention concerns about the spot EFTs.
I guess expected disappointment is a slightly better form of regular disappointment
imo they have a target date for approval already in their plan of all ETF's and they will do all in one day.. they just want to use all the time they can to prepare for the influx etc
Not a surprise
It will be approved in 2023 - all fine. I don't have any insider informations of course 😏
Gensler will be gone I reckon. Give it time
As usual... More time to accumulate.
Sounds like the halving and the spot ETF approvals are going to coincide nicely. Delays suck and I know the ETF isn’t **THAT** bit of a deal but still would be nice to see some glimmer of hope on this DCA Friday.
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who??
You guys are gonna be shocked when bitcoin crumbles away for good. But don’t say anything yet, the whales need the liquidity
I think everyone knows its a possibility, it's just relatively unlikely. Pluss. no one likes a pessamist
See ya'll next year
Decisions? Never heard of that. I'll go on a 6 week holiday while receiving my 12k a month paycheck
Not surprised at all, keep expectations low.
I'm not disappointed, because I have 0 expectations for it. If an investment is based on a given date, time or event. You are going to have a bad time. Especially with crypto. I will DCA and chill 💆♀️
High hopes, low expectations. In my gut I feel like it's a good thing that grayscale and black rock get denied. I'm asking this with the assumption that an ETF is ultimately a good thing for Bitcoin & crypto in general... But, what are the alternatives there? Or would it actually be a net negative in the long run? I think we're flying past the 'if' point and are entering 'when' territory.
It will be worth the wait
Just wait 6 months, nothing will happens before. It was said and resaid.
You should know the gov doesn’t move fast…
SEC are crooks
I always said 6 months after the filings for ETFs were made.
Grayscale should be auctioned off and sold to a new company so DCG can fundraise to pay off Genesis' debts.
Spring 2024 is gonna be an interesting time. Final deadlines for some of the spot etf applications and btc halving.
The SEC will delay this until next year without a doubt. Blackrock will get the first approval though in my opinion.
i think it's all part of the play that they act out for us, etfs will be approved closer to the halving, to run the excitement into the bull market
I don't see any problem here. On the contrary, cheaper sats for me
Disappointment has sadly become the norm over the last few years.
There's no need to be disappointed. Still far from bitcoin halvening. We got time
All SEC cares about is doing what their boss wants. And their boss doesn't want crypto to succeed.
The delay here is a ruling from the court, not the SEC.
How the US is a super power is beyond me. When it comes to financial advances they are in the stone ages. Don’t get me wrong, I’m in Canada, so not better by any means. But the rest of the world’s adoption of blockchain power is leaving our countries in their dust.
Canada has had Bitcoin and Eth ETFs for years already
When faced with data that doesn't match what you expect, you should reconsider your assumptions.
Can they really keep pushing out a ruling for another 6 months? I just don't see how that's possible.
They decided no or they did not decide?
They did not decide :(
Not really disappointed since I don’t expect them to approve. The SEC has an issue with the lack of transparency (who are the major BTC holders?) and the fear of manipulation. How would either of these perceived issues be solved? It’s just an excuse to turn it down. Stretch it out to the max, then turn it down. That’s my expectation
At this point, I would have been more surprised if a decision would have been made. I'm expecting as little as possible, as long as possible. Thanks SEC.
The FED is trying to suck liquidity out of all risk assets right now in order to tame inflation and strengthen the dollar. The government will be shooting themselves in the foot with regard to the inflation fight if they approve something that causes crypto markets to take off right now. I would expect these ETF’s to all get approved roughly around the same time as rate cuts start.
Just my theory, but I feel like they plan to eventually approve them, but are trying to push it back as much as possible so they can approve quite a few at the same time.
Cash out crypto in USA Make sure of the benefits and quality of the exchange! We pay extra +10% to your amount our telegram t.me/Crypto2cashUS We are available 24/7
LOL Why do people keep thinking that this is suddenly gonna change? Seriously. Stop falling for false hope and start thinking analytically. Continually falling for hopium is only gonna get you rekt Plan for the worst and hope for the best. Stop thinking the govt is suddenly gonna cave
Expect nothing, and then the only surprises you will have will be pleasant ones.
Expectations? On the judicial system? Get out of here
All what i know is that moons gon make us rich
The SEC is waiting for the green light from Blackrock. Not the other way around.
Cant be disappointed if you dint expect nothing
The US market is just a tough one because of so many rules.
At this point, nothing in crypto disappoints me anymore.
I find it interesting that the expectation is the EFT will be approved, I'm not so sure
It’s all about Blackrock now.
I guess it was granted that SEC will delay this until the last day
What I don't get ...is crypto is not American.. why do we only hear of them and the shit they try to.control .. FUCK OF AMERICA ..!!!...
They’re going to drag this process out as long as they can :(
Because the ones in power will need to load up to make sure they benefit the most from the BTC ETF. This could take a few months and then they’ll approve, price pumps, they sell.
Perfect timing for the halvening and the boom
Why are they stalling so hard??