Bitcoin ETF good or bad? - page 2. | Bitcointalksearch.org

Dunamisx

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

Bitcoin stands on it own while ETF as well stands but its dependent on bitcoin market price, only when we realized the role and effect of bitcoin in determining the value for the ETF commodities, we will then understand that this adoption will yield to more use case of bitcoin in the future as many other organizations and investments will have to depend on bitcoin market price even though they are not investing directly in bitcoin.

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Quote from: ChiBitCTy on May 08, 2024, 10:44:33 AM

On the other hand, it does give big fund giants a bit of control over price changes or the “network” for lack of better terms.

I don't agree, BTC etf's do not give institutional investors any kind of control over BTC. I know there's been a large inflow through BTC etf's since its approval, and if we see a lot of outflows, the price will drop temporarily, but i would not call that control. Take note too that these guys are investors, so they are not going to be selling their coins only because they want to 'manipulate' the price and it is also unlikely that the outflows will happen all around the same time.

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It’s both good and bad in my opinion. On one hand it’s absolutely propping up the value of Bitcoin , which is really not something that’s even debatable.

On the other hand, it does give big fund giants a bit of control over price changes or the “network” for lack of better terms.

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

-Regards

Actually Bitcoin ETF has got some benefits it's giving to cryptocurrency as a whole and this is something that were are not going to see taking place almost immediately, just maybe it may take sometime before it eventually comes to actually fulfilment because even after the ETF approval there will be need for some time for some others to looking in to adaptation thereafter but then Bitcoin becomes more acceptable and probably adoptable by many others by virtue if the ETF approval. This ETF approval isn't really going to give total control to the government but then there will be some form or local regulations because the Blockchain technology isn't such that you can gain absolute control over or further restrict.

In some regions there have been implications that have led to the bank of Bitcoin and some cases cryptocurrency at Large but then it still didn't give them the control or absolute regulatory power over Bitcoin and cryptocurrency in general.

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?

I don't want to talk about the future. But I can share my observations so far. According to my observation, The entire market is moving with the ETF market now. Since the ETF report is not instant, updating the market takes a couple of hours. Sometimes it takes a day. I noticed that if we see net inflow on the ETF market, Bitcoin price increases for the next day, and the same thing happens when we see net outflow on the ETF market. Now if you ask that if it's good or bad, I don't know. ETF brings more centralization. But we all should be okay with that. People who cares about their privacy will remain anonymous and they don't think much about centralization. Anyonymous people will enjoy the market movement instead.

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Quote from: Ale88 on May 07, 2024, 09:46:47 PM

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

i also think like that, even though bitcoin etfs don't have a significant impact on the bitcoin market, at least they can have a positive impact where there might be etf investors who are immediately interested in buying bitcoin because they are curious to try out how to buy bitcoin directly in their wallet. so this etf can be said to be considered a new form of promotion for bitcoin, even though it's not directly like that.

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Quote from: Kakmakr on May 06, 2024, 02:16:20 AM

I think Bitcoin ETFs will give large centralized financial institutions more control to manipulate the Bitcoin volatility. We now find that huge pension funds are also investing in Bitcoin ETFs and we know they are very trigger happy.

The slightest drop in the price, will cause them to dump Bitcoin ETFs for something else and this will have a huge ripple affect in the market.

So we might see wild volatility in the price, when those fund managers pull investments from ETFs.

I feel like we had a lot of people like that anyway, and we are ending up with basically something quite similar again, there isn't anything that could get any different aside from maybe just size of things. When it dropped just a bit, it dropped a lot, when it went up a bit, it went up a lot, it has always been like that.

Volatility is something we talked about in the crypto world since the start of crypto world, it is not going to really change much, maybe it would be even more volatile but we are used to being volatile so being more doesn't really change much for us. I hope that people would see that ETF could also provide a lot more money into the market as well and that matters, we should be focusing on that part of the deal, because it is such an important part of it.

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Quote from: Ale88 on May 07, 2024, 09:46:47 PM

but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

I get your point, but do you believe people who buy BTC spot etf's are actually interested in BTC, i think it is the opposite, and they just want to invest in BTC without caring about its technology or basic things such as having a BTC wallet or backing up their seed phrase. BTC spot etf's is great for BTC price, but not so great for what it was originally created for.

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Quote from: Darker45 on May 07, 2024, 08:38:25 PM

Quote from: Minor Miner on May 06, 2024, 01:10:13 AM

Quote from: Darker45 on May 04, 2024, 01:49:48 AM

There's good and bad that come from it, but if we are to be pedantic about Bitcoin, I should say it is generally bad. With spot Bitcoin ETFs, the emphasis on peer-to-peer is gone. The emphasis on a trustless system that eschews third parties is forgotten. The features which make Bitcoin revolutionary; decentralization, freedom, independence, ownership, control, and so on and so forth are set aside. Without all these, Bitcoin isn't Bitcoin anymore. The Bitcoin in spot Bitcoin ETF isn't money. Strictly speaking, Bitcoin in spot Bitcoin ETFs isn't Bitcoin at all.

Perhaps bitcoin ETFs somewhat overshadow the features that make bitcoin special but I think even without bitcoin ETFs, those things would have happened sooner or later. The simple reason is because bitcoin is considered a speculative asset rather than a currency, and this was before the emergence of ETFs. Once it is called investing, profit will be the top priority, not too many people will be interested in other features of bitcoin. Looking at the growth of centralized services and centralized exchanges speaks for itself, and the fact that bitcoin has become more centralized is not entirely the fault of ETFs.

Yeah, we've been going to that direction even before the approval of these spot Bitcoin ETFs in the US. Ever since Bitcoin became popular, centralized platforms have already emerged. Ever since Bitcoin got assigned with fiat equivalent, it has gradually turned into an asset or an investment.

I'm not saying this is the fault of ETFs, though. All I'm saying is that ETFs can be bad to Bitcoin. And whether the trend has been moving toward this direction already even before the ETF approval or not is quite another story. But the entry of BlackRock and the rest of the traditional giants in finance ushered so to speak by no less than a government agency is like the final nail in the coffin. It's like a stamp which signifies the traditionalization of Bitcoin.

Although it is not good for bitcoin as you say, there is one thing we cannot stop them and I think that is the price we have to pay if we want bitcoin to become more popular. Besides the negative side, we cannot deny that with the adoption of ETFs and thereafter, more and more traditional investors are interested in bitcoin and they are investing in bitcoin through ETFs. Supposedly, without ETFs, bitcoin's popularity would still be very limited and many people would hesitate to invest in bitcoin. ETFs bring pros and cons to bitcoin, not just harm.

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

Let me start with the question of the title, ETF is never bad, and as a matter of fact, it will give Bitcoin more relevance. However due to the way Bitcoin was created and its function and operation as well, the ETF may not be as important as people believe it to be compared to how it is so important with Crude oil, Gold etc.

Bitcoin is structured in a different way like never before and with or without ETF, Bitcoin will continue to gain popularity, and adoption and attract investors. The extensive benefits from the ETF, in the long run, will naturally be directing more investment into it. But this will only be in a way as those who are afraid to buy, hold and manage their Bitcoin themselves or are afraid about the privacy and decentralization of the asset, will join due to the ETF. It will help in this regard since the ETF will make Bitcoin to be more centralised even as the system itself is decentralised. This will also naturally means that the government can oversight the activity better than though it was moving within the core Bitcoin plans of non-custodial approach. This will help them cool their nerves as well.

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Quote from: khalidkhan82118 on May 08, 2024, 04:03:57 AM

Quote from: Ale88 on May 07, 2024, 09:46:47 PM

Quote from: tajimas on May 03, 2024, 02:42:12 PM

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

Your insight nails it! Bitcoin ETFs might not make it a currency overnight, but they sure are sparking curiosity and that's a win.

Every win is a win and the ETF approval is more than just a win, but a nod that all is in order and the concept of Bitcoin and cryptocurrencies in general is here to stay and be a solution for investors as well as those who intend to make a career out of trading Bitcoin either part time or full time.
The ETF approval is what large corporations and large pocket investors need to invest their funds as buying coins on a regular by DCA or at once may prove too much to handle and ensure safety. Hence, it is a good advancement for the interest of BTC and cryptocurrencies in general.

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Quote from: Ale88 on May 07, 2024, 09:46:47 PM

Quote from: tajimas on May 03, 2024, 02:42:12 PM

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

Your insight nails it! Bitcoin ETFs might not make it a currency overnight, but they sure are sparking curiosity and that's a win.

Ale88

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

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Quote from: Minor Miner on May 06, 2024, 01:10:13 AM

Quote from: Darker45 on May 04, 2024, 01:49:48 AM

There's good and bad that come from it, but if we are to be pedantic about Bitcoin, I should say it is generally bad. With spot Bitcoin ETFs, the emphasis on peer-to-peer is gone. The emphasis on a trustless system that eschews third parties is forgotten. The features which make Bitcoin revolutionary; decentralization, freedom, independence, ownership, control, and so on and so forth are set aside. Without all these, Bitcoin isn't Bitcoin anymore. The Bitcoin in spot Bitcoin ETF isn't money. Strictly speaking, Bitcoin in spot Bitcoin ETFs isn't Bitcoin at all.

Perhaps bitcoin ETFs somewhat overshadow the features that make bitcoin special but I think even without bitcoin ETFs, those things would have happened sooner or later. The simple reason is because bitcoin is considered a speculative asset rather than a currency, and this was before the emergence of ETFs. Once it is called investing, profit will be the top priority, not too many people will be interested in other features of bitcoin. Looking at the growth of centralized services and centralized exchanges speaks for itself, and the fact that bitcoin has become more centralized is not entirely the fault of ETFs.

Yeah, we've been going to that direction even before the approval of these spot Bitcoin ETFs in the US. Ever since Bitcoin became popular, centralized platforms have already emerged. Ever since Bitcoin got assigned with fiat equivalent, it has gradually turned into an asset or an investment.

I'm not saying this is the fault of ETFs, though. All I'm saying is that ETFs can be bad to Bitcoin. And whether the trend has been moving toward this direction already even before the ETF approval or not is quite another story. But the entry of BlackRock and the rest of the traditional giants in finance ushered so to speak by no less than a government agency is like the final nail in the coffin. It's like a stamp which signifies the traditionalization of Bitcoin.

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Quote from: Alone055 on May 04, 2024, 01:27:27 AM

They will surely increase the acceptance rate because companies such as Blackrock that have their ETFs approved will have a lot of customers making investments with them which is the reason why these companies have bought so many Bitcoins recently. The customers these companies get or have are the ones who are always doubtful about Bitcoin and its existence but are also willing to invest in it. So instead of buying Bitcoin directly, they make their investments through these companies. So when it comes to acceptance, I also believe that ETFs will increase that in the future.

When it comes to the government and control, ETFs are not always under the control of the governments, but it is true that it is a centralized mode of investment which means that you are giving away your personal information to a private and centralized company which isn't the case if you are investing in Bitcoin directly and buying through a decentralized platform such as Bisq.

This post raises interesting points about the potential impact of ETFs on Bitcoin acceptance and government control. It suggests that ETF approval could lead to increased investment in Bitcoin by customers who may have been hesitant to invest directly. While ETFs offer convenience, they also involve centralized companies collecting personal information, contrasting with the anonymity of decentralized platforms like Bisq. It's essential for investors to weigh the pros and cons of different investment methods and consider factors like privacy and control. Thanks for sharing these insights!

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

There are two ETFs. The first which was approved in 2021 is called a futures ETF and the second is a spot ETF which was approved in January 2024. What ETF do you mean, a Bitcoin spot ETF or a futures ETF?

For me, the approval of the Bitcoin spot ETF has a positive impact because Bitcoin, which is already popular, is becoming more popular. From small scope to larger scope.
Many are pushing for the SEC to approve a Bitcoin spot ETF before the SEC decides on approval in January 2024. There are various basic analyzes why many are pushing for the SEC to approve and in my opinion why I also push for it to be approved is as I said above.

Prices really depend on how big the demand and supply are and for me ETFs only make it easier for investors to find out the prices there. Bitcoin will not be under government control despite the 11 approved Bitcoin spot ETFs. Are there any additions from 11, I didn't update

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Quote from: tajimas on May 03, 2024, 02:42:12 PM

(...)
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

For me yes, because at first, if it will not help the people, at first ETF will not get approved.
So for me, this is a big help for the Bitcoin community because it will help to spread good news about Bitcoin to other people, adaption.
Downside only is these regulators where trying to control Bitcoin but they can't.

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I believe that its impact on Bitcoin as a currency will be negative, while its impact on the price will be positive.

As for the price, we saw how the approval of the Bitcoin ETF led to a huge rise before Halving, and the reason is that these companies gave wide access to Bitcoin even for ordinary people who know nothing about Bitcoin and find buying stocks much easier.

As for accepting Bitcoin as a currency, on the contrary, Bitcoin ETF does not give you any Bitcoin, but rather gives you shares in a central company under government control. This means that the companies under government control are the ones that buy Bitcoin, and you only buy shares from these companies and do not own any real Bitcoin in your wallet. Therefore, it is clear that its impact is very negative in this direction.

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The approval of Bitcoin ETF is also the first step for governments to think more seriously about having new regulations and laws specifically for this market. I think having clear regulations and laws from governments is not a bad thing, and it is necessary for this market to grow stronger. Clear regulations and laws will create a more legal and safer environment for traditional investors to pour money into this market.

However, with regulations, Bitcoin holders and investors may more or less be managed by the government. This is inevitable as Bitcoin is like other regulated assets. Buying and selling will be subject to taxes and other regulations, but how to hold it is still up to us to decide. At the present time and in the near future, if you store Bitcoin in personal wallets, I think there will still be no problem. In the more distant future there may be stricter regulations regarding personal storage wallets, forcing users like us to use storage services created by governments or large organizations, but that story requires more time and I think hasn't happened yet in this cycle.

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Quote from: tread93 on May 05, 2024, 11:38:39 PM

I think the ETFs are only just getting started and I for one wouldn’t be surprised if we see record breaking deposits from all the folks who want the ability to buy into Bitcoin without assuming much risk. The ETFs are a great way to get exposure but a bad way to promote liquidity and freedom with your coins.

I think etfs are a great way to expose a lot of people to crypto and basically ease them into the community. Eventually though I think they might consider throwing away etf and just investing in bitcoin directly as it has plenty of advantages compared to etfs.

Beginners might just want to get into etfs first as they do not want to directly interact and manage with many risks that come with investing in bitcoin.

Topic: Bitcoin ETF good or bad? - page 2. (Read 654 times)