{An important|An essential|A crucial|A vital} {factor|element|aspect|variable} which {could|might|can} play {a deciding|a choosing|a making a decision|a determining} {role|function|duty} in the {final|last} March 11 {approval|authorization} of the Winklevoss {twins|doubles}' Bitcoin ETF COIN is the {suggestions|recommendations|ideas|tips|pointers} {and|as well as|and also} {insights|understandings} of {outside|outdoors} {counsel|guidance|advice|advise}, independent {consultants|specialists|experts|professionals} {and|as well as|and also} {the public|the general public}.

1. Why Bitcoin ETF Approval is Likely, 72 Percent in Favor So Far
teamsteverhyner.com/why-bitcoin-etf-approval-is-likely-72-percent-in-favor-so-far/
An important factor which could play a deciding role in the final March 11 approval of the Winklevoss twins’ Bitcoin
ETF COIN is the suggestions and insights of outside counsel, independent consultants and the public.
On Feb. 14, all of the organizations and officials related to the approval of the Winklevoss twins’ Bitcoin ETF
participated in a roundtable discussion about the future of the ETF, if it is approved. The discussion focused on how
the market would react, potential issues that may arise and benefits of the public for having a Bitcoin ETF readily
available.
As previously reported by Cointelegraph, outside advisors in KCG Holdings and Susquehanna International were
brought in by the Securities Exchange Commission during the February 14 to offer unbiased insight into the launch
of the COIN ETF. This is an important aspect of the approval process as the SEC takes the insights of these outside
counsel and consultants to decide whether the COIN ETF is ready to be approved or not.
In addition to the insights of KCG Holdings and Susquehanna International consultants, the SEC also takes public
comments with a serious note, evaluating them and building a consensus amongst public members that have
contributed to the Bitcoin ETF commenting process.
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2. Thoughts of the public so far
Around 72 percent of the public is in favor of the Bitcoin ETF approval
so far. The other 28 percent have cited some of the issues the Bitcoin
network is dealing with, but in consideration of the state of the Bitcoin
network as of current, the problems mentioned by ETF opposers
aren’t necessarily urgent issues which the SEC should consider for
the ETF approval.
One of the issues that were frequently brought up by the ETF
opposers were the fear of hard fork. Some of the public comments
included concerns over the execution of a potential hard fork and the
occurrence of a split chain. A split in the chain could lead to the
creation of another fork of bitcoin and essentially create two
currencies, the 28 percent of the public stated that a Bitcoin ETF isn’t ready to be introduced to the public.
As of now, a hard fork seems very far from being executed. For a hard fork to be executed, miners must garner 51
percent of the network’s hash power to make the decision. However, Bitcoin Unlimited isn’t near that threshold.
Even if Bitcoin Unlimited is successfully executed and it leads to the creation of another Bitcoin, it won’t be a major
issue as everyone within the network will be attributed to an equivalent balance of Bitcoin Unlimited.
One of the many supporting comments was written by Philip C. Chronakis, Attorney, Adjunct Professor of Law, who
mentioned that the approval of the Bitcoin ETF will place the SEC in a unique position to oversee the development
of Bitcoin. It will also place the US at the forefront of Bitcoin development.
Chronakis stated:
“Denial of the proposed rule will not stop Bitcoins progress, but approval of the proposed rule and the
underlying COIN ETF, will put the SEC in the ideal position to oversee Bitcoins development as an
investment asset – and provide fair, broad-based investment opportunities for not only the connected
(or technologically savvy) few, but to all Americans who deserve the same chance to benefit from this
technological breakthrough and financial opportunity.”
This is a situation which the SEC is carefully considering. The SEC doesn’t benefit from the approval of the Bitcoin
ETF as the SEC isn’t incentivized for the performance of the ETF. However, the government will most likely want the
Bitcoin ETF to be approved in order to maintain a more regulated Bitcoin market which it can oversee.
Re-posted from www.cointelegraph.com by Joseph Young March 8, 2017
If there’s value in Bitcoin, ETF approval or denial will not affect the long term price. People will determine
that along with the laws of supply and demand. When are you going to start mining Bitcoin? Click here to
get more information or email me: steve@prplus.us.
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3. Steven L. Rhyner
Thank you for reading my posts! If you would like to connect, reach out to me on
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