They still won't be approved but this is hilarious.
"the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action, as will now happen here," https://t.co/IMBSZSpti1
That’s gambling not investing. With real estate your buying bricks and mortar, something real you can see and live in, with bitcoin your buying something that’s floating around on the internet worth a certain amount for no reason what so ever.
No, not for public money. You need a custodian for those.
I have to admit though, if one does not believe that Bitcoin has to become mainstream would be against such vehicles. The point of Bitcoin is to be peer to peer money, geek money in other words so there is only so far it can penetrate society currently.
So I say, instead of allowing for these vehicles to pass, wait for another generation for the majority of society to catch up and only then allow Bitcoin to fulfill its purpose. I.e. a payment system that is refuge from financial crises and the arbitrary printing of money...
Really, at this juncture it's an "either, or" proposition. You don't want custodians? Fine, most big money won't play in this game them.
Most of everything is being funded through those "small boosts". Gold became a multi trillion asset through such a " small boost".
It depends what you mean by using the word "small". It the long term, if you zoom out, certainly it may seem " small". But it may be a necessary step as much as the first exchanges and the first cryptomarkets where (despite people being against even to them)...
Fuck ETF's and fuck the SEC. Remember what Bitcoin is all about? So we don't have to deal with those fuckers.
P. S. Also fuck the Wall Street. I'd rather have Bitcoin adoption between the people and not the whales. Do you want them to buy a lot of Bitcoin? I don't. I want the people to buy Bitcoin and devalue the value of fiat.
I don't even count my crypto in fiat anymore. I count them in crypto.
Don't forget that they can print as many USD and other fiat currencies as they please and buy your crypto from thin air. Don't sell for fiat. You are doing it wrong.
Last Bull went parabolic amidst the Futures rumours and eventually news.
Institutional adoption is huge to Bitcoin's price.
Many don't care about it (and probably about its widespread use) so I can see why should they be against those ETFs. Others do care, so to them those news are relevant.
Not everyone has the same vision about the future of Bitcoin, whadayaknow.
> [2018-08-23 21:04 +00:00](https://twitter.com/HesterPeirce/status/1032735262181351424)
> In English: the Commission (Chairman and Commissioners) delegates some tasks to its staff. When the staff acts in such cases, it acts on behalf of the Commission. The Commission may review the staff's action, as will now happen here.
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No, the journalists did not understand that the decision was not made.
The procedure is first the staff to write the decision and then the commissioners to review this preliminary decision.
The commissioners aren't required to formally review the decision. They have the ability to do so however.
Peirce even said as much (emphasis mine):
> The Commission *may* review the staff's action, as will now happen here.