While the ETF would bring in much greater and accelerated adoption it bothers me how fixated this subreddit has become on it. We just had a Massive rally in the months leading up to last December, and people forget that and just look at December as the sole big run up. It's great to want to see bitcoin become adopted but it's still absorbing the last price spike and fixating on the ETF is driving both bullish and bearish crypto-mania. Both the people screaming moon and crash to zero are speaking the loudest currently and this kind of nonsense price hype has bastardized the space to a point where news of a delay makes us break a dangerously important support line. I have a news flash: the delay was imminent. See below:Historically, the U.S. Securities and Exchange Commission (SEC) has been reluctant towards approving ETFs based on emerging assets and commodities. In the case of Bitcoin, as seen in the rejection of the SolidX Bitcoin ETF and the Winklevoss Bitcoin ETF in 2017 and 2018, the SEC does not prefer to publicly disclose their decision until the final deadline, regardless of the outcome of their internal discussion.Hence, although the VanEck-SolidX Bitcoin ETF and the Chicago Board Options Exchange (CBOE) Bitcoin ETF are said to have a high probability of being approved by the U.S. SEC, the commission will not publicly disclose its decision until the final deadline, February of 2019.I know this is a news hub but every other post on the front page is about the ETF and people buying in. While the adoption that you should be looking for is based on all of the progress being made. you don't have to advertise something that works. Bitcoin right now is like email in the 80's, only 2% of the world understands it even slightly and even less know how to operate it. I'm sure this will get downvotes because I'm standing on a soapbox complaining, but I just want people to open their eyes and see what's happening right in front of them. Use a smart contract, download Brave browser and use BAT tokens, do bounties for rewards, join telegrams of projects, run a node for dividends, ask your coffee barista to accept crypto, give product feedback for Betas, USE the product it's amazing what's out there if you stop staring at the News all day. usage will drive innovation and innovation will drive REAL adoption, not this hype moon crap. Lead by example, ignore the news ignore the hype. If you actually give two shits about the tech, that shouldn't be hardthanks for reading , I don't do TLDRs
Submitted August 08, 2018 at 06:59AM
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