SEC Chairman: Bitcoin is NOT a security! Bitcoin ETF meets requirements. A Must watch video!
Do you agree with the SEC’s view that Bitcoin is not a security? Why?
Do you believe a Bitcoin ETF will be approved by the SEC soon?
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77.41
I doubt the Obama SEC chair would have said this.
i think this was a long time coming. I have believed for a long time that institutional money will first enter bitcoin and this might just be the start. Also, the timing of this statement, with the fact that GS might be starting a crypto desk this month. Plus the likes f Nomura would not have set up a custody solution if SEC hadn't shown an inclination to approve.
Institutional money is the key!
Totally agree that this is not a security but the fact that there is so much argument about what it really is vs how to really create a regulatory framework around it will push the ETF approval out a bit. Also, I think the financial institutions are influencing to delay as they get a foothold into the asset class before it is fully ready for deployment.
lovely informations for politcs @cryptoeagle
thank you for sharing
resteem
LOL. Love your style. Thanks for the video link.
Bitcoin is more of a commodity than a security. However, you can think of it as a security because it is an investment in a technology.
I think of altcoins as securities because they are often investments in projects. They are also commodities.
The SEC chairman seems to be concerned with projects that are centralized. If there is one person or business offering a coin or token on the market and promising that the business will do something gainly so that the coin or token increases in price then that is a security. The regulation comes in when the person or business is obliged to share certain gains with the token-holders I suppose. In cryptocurrencies, the gains are automatically realized to investors through the blockchain even though whales or early investors get a lot of the profits. The early investors get the profits through demand for the coin and use of the project.
Given the corruption in the financial system and the ways that companies are able to massage their stocks to give themselves profits or manipulate the price of the stock, I don't know where the SEC gets off trying to regulate cryptocurrencies. To have a better market, which should be the goal, they should let the blockchains regulate themselves and make the stock market compete with it. It will keep the stockmarket honest and keep the corruption in check.
Bitcoin is not really an investment in technology, altcoins are, but bitcoin is an investment in a single digital asset. So I agree that it's a more a commodity than a security.
Despite what the critics say Bitcoin is a good investment.
Bitcoin fell by -1.86% and the buying rate is at $9931.87 Australian dollars.
I suspect that the Bitcoin might even drop further so this is a good time to buy.
It is also a great time to invest in other crypto currencies such as the Steem dollar.
In Australia Steem dollar is trading at $3.20, I have seen it lower than this so if you are in Steemit now is the right time to buy.
Bitcoin ETF is a done deal at this point. Good for price, not so sure.
This will probably be good for price at first then slow increases and bring stability. Just like the gold ETF.
Interesting topic, Excellent, THANKS for sharing!