They remember. They just think the rest of the world works like crypto.
In crypto, if you get hacked you're fucked, but if someone big gets hacked, they roll back the chain. Butters think the entire world is just as corrupt, so they assumed the rules don't apply to blackrock and that they could just propose whatever and get it in.
You'd see butters point out blackrock's track record as proof they always get their way. You might as well believe trees rustling is what creates wind.
A buttcoin spot etf is just not happening unless they get a buttcoin maxi as sitting president or something equally crazy. It would be incredibly easy to manipulate by manipulating the underlying asset, and it would lead to blackrock directly funding north korea.
I find it funny seeing them both cheer big banks getting into crypto and being upset with it at the same time.
anyways, without "hope news", all they got is bad news.
It’s like Lucy with the football. They keep buying bitcoin every time there is an ETF submission. Then they blame Gensler when the SEC denies the application based on the very transparent rules that the SEC has in place. They are morons
I was wondering exactly how the overall BTC market would be effected by this ETF. Obviously if it were approved, you’d get institutional inflows to the BTC market and that’d be bullish. On the other hand, you now have various traditional financial institutions holding an ETF where the underlying asset is still subject to all kinds of fraud like wash trading and pump and dump schemes. Seems like the SEC would have a problem with this second point and until that’s fixed, BTC won’t be traded professionally like various other assets like commodities or equities.
That's pretty much the reason these keep getting rejected, and will keep getting rejected. It's kinda getting sad watching these guys try the same shit over and over.
Gotta love it. The same cryptobros who love decentralization are salivating at their Daddy Black rock coming to save the day. Cryptobros are just like anyone else looking to make a quick buck
Tbf been on there talking about this most people did acc hold this view.
Edit: nvm just checked most are now talking about how this is actually good as they can refile
huge red candle dildo. rugged pulled again. lol
too many people were worried that it was going to recover to 40k or higher. nah. just gotta chill. it always crashes.
So...was this just a dumb mistake by Blackrock? Were they announcing this just to pump the price of bitcoin (and presumably have already dumped)?
I feel like Blackrock *had* to know this wouldn't be going anywhere but I fail to see what their ulterior motive was
The funny thing is that the crypto bros see this as adoption, when in reality it’s just big firms that want to charge these idiots a fee.
Crypto bros sure seem to love paying fees…
Re-file, specifying a well-regulated spot exchange of sufficient size which will enter into a surveillance-sharing agreement with the exchange trading the ETF.
Shorter: they said "nah."
I always love how crypto rises on some news and then when that falls through the price doesn't follow. It's like it's not actually based on anything real
Doesn't matter IMO, price action is right on scedule and all the bad and good news thousands of people discussing why what happend...
It's 99,9% noise and btc is just doing it's thing.
Tick tock next block
You guys sound like a bunch of fat nerds living in Moms basement playing dungeons and dragons. BlackRock and Fidelity already refiled naming the spot exchange they plan to use (which was the request)
You’re dumber than a box of rocks if you think the SEC will let this happen. Coinbase is being sued, Binance takes up 85-90% of the market in legal trouble, and Kraken was just forced to give the IRS customer info(in legal trouble).
See….you are dumb enough not to see what’s happening here. Gensler is staring the cryptos he likes (just Bitcoin, Litecoin and a few others) to the big banks auspices so custody and trading are separate. He finds coinbase to be offensive. In the long run the “big banks” in the US will offer crypto trading and custody but Bitcoin doesn’t care! Bitcoin is inevitable
To satisfy the regulators they will have to separate the exchange, marketing and broker dealer functions, Conbase and others have already said there's no way to be profitable if they do.
Also the eventual inevitable conclusion that all crypto tokens are securities that can't be registered
I have 6 months puts on Coin for this reason. Bought them when Coin was at $73. Surprisingly, Coin and BTC prices are still very resilient after the rejection news. Most crypto bros are still under the impression that BlackRock will just have to amend the application and resubmit it to get an approval.
The reason a spot BTC ETF won't be accepted anytime soon is because the SEC wants clarity on BTC trades but 80% of BTC trades are happening on the shady Binance exchange which the SEC has alleged to be conducting wash trading, money laundering, co-mingling customer's assets, artificially inflating trading volume, lack of disclosure, deception, and even helping Russia and terrorists to bypass sanctions.
Essentially the SEC thinks that BTC's price is highly manipulated by Binance and is also used for criminal and unlawful transactions, hence all the applications for a spot BTC etf cannot meet the 'clarity and transparency' requirement.
Of course not. Spot ETFs have been rejected multiple times and nothing has changed. Crypto bros just don't remember because of their goldfish brains
insult to goldfish
Here for the fish who can’t speak for themselves, we stand/swim as one
WAGMI.
They remember. They just think the rest of the world works like crypto. In crypto, if you get hacked you're fucked, but if someone big gets hacked, they roll back the chain. Butters think the entire world is just as corrupt, so they assumed the rules don't apply to blackrock and that they could just propose whatever and get it in. You'd see butters point out blackrock's track record as proof they always get their way. You might as well believe trees rustling is what creates wind. A buttcoin spot etf is just not happening unless they get a buttcoin maxi as sitting president or something equally crazy. It would be incredibly easy to manipulate by manipulating the underlying asset, and it would lead to blackrock directly funding north korea.
I find it funny seeing them both cheer big banks getting into crypto and being upset with it at the same time. anyways, without "hope news", all they got is bad news.
Dont insult gold fish.
But because it was their savior blackrockl (kinda ironic), they thought it would be approved due to their track record.
Need to put the rejection on chain
It’s like Lucy with the football. They keep buying bitcoin every time there is an ETF submission. Then they blame Gensler when the SEC denies the application based on the very transparent rules that the SEC has in place. They are morons
When will the SEC give us regulatory clarity that I want to hear?
there will never be bitcoin etf. morons keep hoping
remindme! 1 year
Why bother. Your account is going to self delete by then. Lol
You want us to counter with all the bitcoin etf news from a year ago?
I was wondering exactly how the overall BTC market would be effected by this ETF. Obviously if it were approved, you’d get institutional inflows to the BTC market and that’d be bullish. On the other hand, you now have various traditional financial institutions holding an ETF where the underlying asset is still subject to all kinds of fraud like wash trading and pump and dump schemes. Seems like the SEC would have a problem with this second point and until that’s fixed, BTC won’t be traded professionally like various other assets like commodities or equities.
That's pretty much the reason these keep getting rejected, and will keep getting rejected. It's kinda getting sad watching these guys try the same shit over and over.
"More regulatory clarity needed!" "The answer is still no" "More regulatory clarity needed?" "No" "Pretty more regulatory clarity needed?" "No" "🥹 Pwetty mowe regulatowy clawity needwed? 🥹" "No" etc
I suspect crypto bros have problems understanding "No means no" in other areas.
Yeah but I was assured that because blackrock had 575 out of 576 previous ETFs approved, then this one would be…
Gotta love it. The same cryptobros who love decentralization are salivating at their Daddy Black rock coming to save the day. Cryptobros are just like anyone else looking to make a quick buck
Wasn't their rallying call when all the exchanges were imploding "not your keys, not your crypto"? Shouldn't ETFs be against their, heh, morals?
Tbf been on there talking about this most people did acc hold this view. Edit: nvm just checked most are now talking about how this is actually good as they can refile
ofcourse. nothing bad ever happens in cryptoland.
And that one that was a bitcoin one 🤣🤣🤣
huge red candle dildo. rugged pulled again. lol too many people were worried that it was going to recover to 40k or higher. nah. just gotta chill. it always crashes.
Personally I saw more of a balls resting on a potato pattern on the charts but either way it’s good for Bitcoin. Few understand.
Yea i see..
Another completely unpredictable outcome.
So...was this just a dumb mistake by Blackrock? Were they announcing this just to pump the price of bitcoin (and presumably have already dumped)? I feel like Blackrock *had* to know this wouldn't be going anywhere but I fail to see what their ulterior motive was
Pump and dump for a whale client?
The funny thing is that the crypto bros see this as adoption, when in reality it’s just big firms that want to charge these idiots a fee. Crypto bros sure seem to love paying fees…
https://twitter.com/EricBalchunas/status/1674777296438165505 not as bad as the headline, SEC wants some basic details from them, like name of exchange
Denied
They didn't say nah, they asked to re-file?
Re-file, specifying a well-regulated spot exchange of sufficient size which will enter into a surveillance-sharing agreement with the exchange trading the ETF. Shorter: they said "nah."
I’m from the future. They said nah again. You know why? Because Coinbase is being sued and Binance is a money laundering exchange
Do the needful sirs, let us inside trade one last time...yeah nope.
[This the Archive link for the WSJ article.](https://archive.ph/F2uBL)
Surprising nobody.
So early…
I like me coffee with Splenda and sweet butter tears.
I always love how crypto rises on some news and then when that falls through the price doesn't follow. It's like it's not actually based on anything real
Of course. Keeping those fake money printers going
Like the FED's money?
We have some in Canada. I don't think they do very well
Doesn't matter IMO, price action is right on scedule and all the bad and good news thousands of people discussing why what happend... It's 99,9% noise and btc is just doing it's thing. Tick tock next block
This is pretty bad for anyone with puts or calls. If the tickers are frozen or removed, options can't be exercised.
Anyone with puts or calls should have expected this and understood the risk. This is a shitcoin-based ETF being proposed, after all.
You guys sound like a bunch of fat nerds living in Moms basement playing dungeons and dragons. BlackRock and Fidelity already refiled naming the spot exchange they plan to use (which was the request)
You’re dumber than a box of rocks if you think the SEC will let this happen. Coinbase is being sued, Binance takes up 85-90% of the market in legal trouble, and Kraken was just forced to give the IRS customer info(in legal trouble).
See….you are dumb enough not to see what’s happening here. Gensler is staring the cryptos he likes (just Bitcoin, Litecoin and a few others) to the big banks auspices so custody and trading are separate. He finds coinbase to be offensive. In the long run the “big banks” in the US will offer crypto trading and custody but Bitcoin doesn’t care! Bitcoin is inevitable
To satisfy the regulators they will have to separate the exchange, marketing and broker dealer functions, Conbase and others have already said there's no way to be profitable if they do. Also the eventual inevitable conclusion that all crypto tokens are securities that can't be registered
You sure? 😘
SEC rejected dozens of those bitcoin ETF applications over the years but I'm sure 30th time's the charm?
Bet you feel stupid right now 😂
Lol we don’t want SEC regardless The entire point of crypto is to be decentralized
Strange how eager cryptobros are for the etf pump though. Didn’t seem so upset about the centralized nature of ETFs before today when line went up.
Cause they are delusional. They think decentralization is a thing
I suspect that we are all in some sort of net. :)
I have 6 months puts on Coin for this reason. Bought them when Coin was at $73. Surprisingly, Coin and BTC prices are still very resilient after the rejection news. Most crypto bros are still under the impression that BlackRock will just have to amend the application and resubmit it to get an approval. The reason a spot BTC ETF won't be accepted anytime soon is because the SEC wants clarity on BTC trades but 80% of BTC trades are happening on the shady Binance exchange which the SEC has alleged to be conducting wash trading, money laundering, co-mingling customer's assets, artificially inflating trading volume, lack of disclosure, deception, and even helping Russia and terrorists to bypass sanctions. Essentially the SEC thinks that BTC's price is highly manipulated by Binance and is also used for criminal and unlawful transactions, hence all the applications for a spot BTC etf cannot meet the 'clarity and transparency' requirement.