Recently I really got interested in cryptocurrency, so I have been reading a lot and started following blockchain related news and projects. What really caught my attention is the SEC rejection of nine ETF applications. I think this is in a bid to usher in mainstream adoption, but many argue that it's a problem of regulation, and others are saying the price instability of cryptocurrencies is hindering mainstream adoption. what is the solution to mainstream crypto adoption?
It's not a matter of finding a solution, per se. Adoption and organic network growth happen spontaneously and over time. Sometimes growth is stagnant or linear; other times it's exponential. Bitcoin's built-in economic incentives appear to be solid, so as long as Metcalfe's Law keeps doing its thing, we just need to sit back and wait.
An ETF doesn't matter. They're mostly just for traders and fund investors. It's safer and much more true to the original intent of Bitcoin to simply buy, hold and use BTC rather than bother with securities like ETFs.
As Lubin rightly suggested in an interview with Bloomberg, it's glaring that the Blockchain industry has evolved several times over. This being said, every bit of innovation arising from new economic instruments and technological breakthrough will only push us further than we are ready for. I seriously think this is why the market has been dwindling and yet to settle at a real price. However, all fronts for adoption to be considered, ETF alongside the bakkt underpin an important adoption potential into the mainstream financial market.
As for Bitcoin buying and hodling, honestly, that ship has sailed. The best thing is to learn to trade and if the asset improves in worth, make sure you have enough to leverage. Old tricks are waning in this industry, have a combo. Invest in new ICOs [okay, permit me to shill a little - MFChain], trade the best assets against the FOMO cryptos, and hedge just about enough for hodling purposes.
