Topic: Bitcoin ETF, Is it really needed? (Read 563 times)
In as much as Bitcoin ETF is not fully needed but on the other hand, it's needed to a particular extent. Such things will bring a drive and cause new investors to come into the market, it can also provide room for more Bitcoin adoption and which when paired with other legalization, will bring about a turn around of things now.
People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
Going through this thread again and realized that some "ETFs are usually based on paper contracts" and ultimately there is no difference in paper currency and bitcoin ETF.
Bitcoin ETF was disapproved for it has another concern that US government does not allow to happen. I have posted a thread on economy section regarding with the conflict of cryptoccurency and the dollar currency The conflict of cryptocurrency and the US dollars currency!.
The ETF is not really needed but for some reasons that the community does want bitcoin to be acknowledge by the government so the ETF was created. This will help us to get more encouragement and to engage more in cryptocurrency and have some security over the money we invested on it. Definitely it could be help but then again it is not that needed for cryptocurrency could still be working even without the ETF.
The ETF is not really needed but for some reasons that the community does want bitcoin to be acknowledge by the government so the ETF was created. This will help us to get more encouragement and to engage more in cryptocurrency and have some security over the money we invested on it. Definitely it could be help but then again it is not that needed for cryptocurrency could still be working even without the ETF.
I think ETF are needed to provide certainty for investors, because if ETF already accepted bitcoin, investors will not feel hesitant about bitcoin, because right now there are still many investors who think bitcoin as a bubble or ponzi scheme
You guys thinking the ETF is necessary may be making a huge and critical mistake. Your want of a temporary boost in Bitcoin will eventually destroy Bitcoin and hand the keys over to the Central bankers who run these ETF's. I'm familiar with this ETF bullshit in the silver market.
They completely control the silver market with their paper ETF game. They actually do this for almost every valuable asset on earth but the silver scam is the one I'm most knowledgeable about. If silver starts to rise they simply print paper silver and flood the market. By doing this with silver (and gold) it makes the fiat look better. Imagine if silver and gold began skyrocketing. It would show the fiat currencies are crashing. Can't have that.
The logical man then says that will never work. What if people take delivery. They won't have it and it will break the market. Bankers are too smart for that. They have a stipulation in the contract you sign when trading paper assets that in case of failure to deliver they will pay you in dollars. Dollars that they print!
If you guys let the bankers in so you can make a quick profit your destroying the entire movement.
They completely control the silver market with their paper ETF game. They actually do this for almost every valuable asset on earth but the silver scam is the one I'm most knowledgeable about. If silver starts to rise they simply print paper silver and flood the market. By doing this with silver (and gold) it makes the fiat look better. Imagine if silver and gold began skyrocketing. It would show the fiat currencies are crashing. Can't have that.
The logical man then says that will never work. What if people take delivery. They won't have it and it will break the market. Bankers are too smart for that. They have a stipulation in the contract you sign when trading paper assets that in case of failure to deliver they will pay you in dollars. Dollars that they print!
If you guys let the bankers in so you can make a quick profit your destroying the entire movement.
Yes, like most people on here I also feel that it will be interesting to follow ETF decision though I do have my reservations on how that will play out - hopefully, I'm wrong 
People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I think , they need to put bitcoin in reserve for creating that amount of ETF so that much amount of bitcoin will be removed from market, otherwise there is no difference in paper currency and bitcoin ETF
Good Ask, i dont know if ETF will be usefull fot btc, so... it will bring more and more founds to btc, but they are speculation founds, and if now whale can determinate a dump or pump... can you think with many financial whale on board?
For greater legitimacy within the financial world, I think yes. But at the same time, I think that's a slipper slope. As many have mentioned, once a Bitcoin ETF is created, I'm sure it would be manipulated in such a way that wouldn't be friendly to Bitcoin.
I can speak for him/her/them; I don't ever think the original intention of Satoshi was for a ETF to be created.
I can speak for him/her/them; I don't ever think the original intention of Satoshi was for a ETF to be created.
People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I think , they need to put bitcoin in reserve for creating that amount of ETF so that much amount of bitcoin will be removed from market, otherwise there is no difference in paper currency and bitcoin ETF
I think Bitcoin can continue to develop even without an ETF, but if the ETF can successfully pass the review, then this will allow Bitcoin to land on the moon ahead of time!
People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.
The things Bitcoin need the most are miners, buyers and sellers. ETF can fuck off, Bitcoin didn't need it in the past and so it doesn't need it now.
ETF will help Institutional Investors or other organization to invest in Bitcoin but Bitcoin is meant for P2P transaction and Satoshi did not created it to be used as Investment product.
You've already answered the question. I believe the text in the bold on the quote makes others really excited for the ETF since it will mean more profit to come and is the reason why ETF's have an appeal to the bitcoin community as a whole. Just the thought of speculating how much money institutional investors and other organization will put on it is very appealing, and the thought of price skyrocketing because of it is very enticing.
No, we don't need a Bitcoin ETF.
I mostly agree with Andreas Antonopoulos, and one of his most interesting points is that the ETF investors will be second tier compared to people who have access to their keys.
I'm not comfortable with holding BTC in exchanges. I can't imagine being comfortable holding BTC in an ETF.
We shouldn't be blinded by the price of Bitcoin. Usability and market building are more important.
I mostly agree with Andreas Antonopoulos, and one of his most interesting points is that the ETF investors will be second tier compared to people who have access to their keys.
I'm not comfortable with holding BTC in exchanges. I can't imagine being comfortable holding BTC in an ETF.
We shouldn't be blinded by the price of Bitcoin. Usability and market building are more important.
Ohh, my, yeahhh! We do need it and lets hope that ETF does approve crypto because if that happens is almost as when countries are saved from a great recession.
Although i'd love to see an ETF granted at some stage, i really think crypto needs a real good clean-up first!
There are too many scammers,crooks and thieves that have been catching out people who are new to the space. Not to mention all of the blatant scam ICO's, ETH 'giveaway' scams or other joke coins/tokens which have suddenly appeared on the scene.
In my opinion if we are to be taken seriously as a community, then all the crap needs to be washed away and build from there. Then we can start focusing on an ETF.
There are too many scammers,crooks and thieves that have been catching out people who are new to the space. Not to mention all of the blatant scam ICO's, ETH 'giveaway' scams or other joke coins/tokens which have suddenly appeared on the scene.
In my opinion if we are to be taken seriously as a community, then all the crap needs to be washed away and build from there. Then we can start focusing on an ETF.
It is the path to the entry of institutional money. I think the ecosystem is set to evolve into that direction anyway, we should try to be ready to take advantage if that´s possible.
The ETF isn't the be all and end all of bitcoin and bitcoin is bigger than that, but maybe people shouldn't get excited about something that may never come. Besides, even if it does ever get the go ahead I don't think it will be that huge. Sure, people will get excited about it and the price will rally but it'll probably come crashing back down again once the excitement is over.
I don't see how people holding bitcoin is against satoshis vision? Bitcoin was created as a new type of money, and people can either spend of save it. Bitcoin doesn't have to be constantly moving about. Besides, more bitcoin out of circulation is good for everyone as it lowers the supply whilst demand continues to grow.
I'm sure more people are going to know what bitcoin is than an ETF.
it certainly has some undesirable effect, pulling a large chunk of bitcoin out of circulation will basically mean there will be less bitcoin to be used as a means of payment, destroying Satoshies original vision
I don't see how people holding bitcoin is against satoshis vision? Bitcoin was created as a new type of money, and people can either spend of save it. Bitcoin doesn't have to be constantly moving about. Besides, more bitcoin out of circulation is good for everyone as it lowers the supply whilst demand continues to grow.
Bitcoin ETF is needed not just for price speculation but to give legitimacy to the entire cryptocurrency sector. Now if you walk around the street and just talk to anybody about bitcoin, nobody would have any clue what you are talking about. Bitcoin ETF may not be necessary for the crypto market but it speeds up the adoption of crypto among the masses.
I'm sure more people are going to know what bitcoin is than an ETF.
Even Andreas Antonopoulos says that Bitcoin ETF is a very terrible idea.
https://www.youtube.com/watch?v=KSv0J4bfBCc&feature=push-u&attr_tag=GUmiDnU0TxDaahFh%3A6&ab_channel=aantonop
The main points from his video
1.When you own Bitcoin you own keys. You are in control of your Bitcoin. By ETF , you will not have any keys so you are not in control of your Bitcoin.
2.ETF owner/Custodian will be a single holder of the Bitcoin. ETF holding so large amount of Bitcoin can easily manipulate the market.
3.If any debate going to happen in bitcoin (like Bitcoin cash ) in future then ETF custodian will have the voice but not the actual share holders.
4.Bitcoin ETF is a terrible idea but it might happen in future.
https://www.youtube.com/watch?v=KSv0J4bfBCc&feature=push-u&attr_tag=GUmiDnU0TxDaahFh%3A6&ab_channel=aantonop
The main points from his video
1.When you own Bitcoin you own keys. You are in control of your Bitcoin. By ETF , you will not have any keys so you are not in control of your Bitcoin.
2.ETF owner/Custodian will be a single holder of the Bitcoin. ETF holding so large amount of Bitcoin can easily manipulate the market.
3.If any debate going to happen in bitcoin (like Bitcoin cash ) in future then ETF custodian will have the voice but not the actual share holders.
4.Bitcoin ETF is a terrible idea but it might happen in future.
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