Topic: ETF Will Kill Bitcoin For Good” Investors Express Skepticism - page 2. (Read 481 times)
From inception I have been against this ETF issues and I think the major reason by bitcoin and cryptocurrencies market keep suffer setbacks is because of rejection of ETF by sec. I wonder the impact it will make if it is approve as a lot of damage has been done to bitcoin because of this ETF issues.
They are making this up, I am pretty sure I can find "investors" who think ETF will be amazing for bitcoin as well, I can find investors who say bitcoin will be a million dollars and I can find ones that say bitcoin will be a thousand dollars soon. There are all kinds of people around the world and all have their own opinions. No one really entitled to make others think like them, we all have our own thoughts.
Yes, I am sure this "investors" have did some good before but doesn't mean they will be right again, doesn't mean they will be anything again. Maybe some of them will stop being an investor, maybe already have after saying this. Don't believe in what anyone says, just go out there and do your own research on subjects like this, would make a lot more sense if you were the one checking for yourself.
Yes, I am sure this "investors" have did some good before but doesn't mean they will be right again, doesn't mean they will be anything again. Maybe some of them will stop being an investor, maybe already have after saying this. Don't believe in what anyone says, just go out there and do your own research on subjects like this, would make a lot more sense if you were the one checking for yourself.
i agree with that random dude on reddit which was quoted here. ETF can be one of the worst things that can happen to bitcoin specially now that bitcoin is still young.
Can you give examples on how the ETF and bitcoin derivatives markets can be bad? Market derivatives also did not prevent gold from growing to a $7 trillion market. It might have helped it, I reckon.
i generally dislike ETFs because they shouldn't even be a thing for a currency. it is like having USD ETF, or JPY ETF. they don't make sense and bitcoin as a currency should not have an ETF just like other currencies in the world don't have them.
but also i say they are a bad thing for bitcoin mostly because of the (more) market manipulation that it can bring to bitcoin.
also an Andreas Antonopoulos video https://www.youtube.com/watch?v=KSv0J4bfBCc&vl=en
i agree with that random dude on reddit which was quoted here. ETF can be one of the worst things that can happen to bitcoin specially now that bitcoin is still young.
Can you give examples on how the ETF and bitcoin derivatives markets can be bad? Market derivatives also did not prevent gold from growing to a $7 trillion market. It might have helped it, I reckon.
I don't think that ETF will influence Bitcoin in a bad way, that doesn't seem to be likely. In contrary it might make positive impact on the price although not in some huge scale and probably only temporary.
But at this moment it's still not clear if ETF will actually be approved or not so everything connected to that is just speculation.
And if it will be, then big investors will come to the stage.
But at this moment it's still not clear if ETF will actually be approved or not so everything connected to that is just speculation.
And if it will be, then big investors will come to the stage.
Seriously though, ETF is just trading, who cares about derivatives, in the end supply and demand will sort all the things out.
It all comes down to the underlying asset of coin backed instruments, which is Bitcoin.
Things get tricky when institutions and other entities get their hands on tons and tons of Bitcoins. It grants them the incentive they need to 'protect' their investment, or to boost it further, by forcing pressure on the developers. Coin voting could potentially become a factor to pay attention to as well. It seems so far away from where we are right now, but you can't discard these aspects.
That being said, I am of believe that institutions are on board already, and they are hoarding as many coins as they can through the OTC market. Another thing is that they could easily end up taking over Coinbase eventually, and I don't think we're very far away from that; give it a year or two.
I do not believe any scenario in which ETFs will be a bad thing for bitcoin, there is already plenty enough channels for manipulation, at least an ETF would be under the control of the SEC. I don't think it will make a huge difference to the price though, like there are enough channels for manipulation there are enough channels for investment, I don't think an ETF will bring that much new money. As the initial post said, bitcoin is easily traded over the counter as it is.
Why do some people connect the bitcoin ETF with derivatives?If btc gets ETF approved,the big institutional investors are supposed to buy and HODL bitcoin directly,without any futures contracts or any other derivatives.What does "kill bitcoin for good" mean?Do you think that bitcoin will never be a risky digital asset after the ETF approval?
i agree with that random dude on reddit which was quoted here. ETF can be one of the worst things that can happen to bitcoin specially now that bitcoin is still young. but i don't see how it can "kill bitcoin for good"! bitcoin is still going to remain the same bitcoin regardless of how certain people trade it and get involved with it. in other words existence of ETF can not change the fundamental aspects of bitcoin.
Wow, people were discussing Bitcoin's security for years, but it turns out that all you need to do to stop Bitcoin is to allow an ETF? Then why haven't any government approved it yet, especially those that are openly hostile to it, surely they would want to see Bitcoin fall, right?
Seriously though, ETF is just trading, who cares about derivatives, in the end supply and demand will sort all the things out.
Seriously though, ETF is just trading, who cares about derivatives, in the end supply and demand will sort all the things out.
The bottomline is that we cannot really control all these futures contracts, derivatives, and other government setups that they create around assets so people can access said assets through them. It's how it's always been, and it's it will always be, for as long as governments exist.
When an asset gets big enough, the demand for ETF will grow and it will eventually pass.
However with bitcoin is different. Gold and other assets didn't have it's own built-in system with capped inflation and a transparent immutable ledger. This is what makes bitcoin safe against phantom derivative government scams which they indeed use to manipulate prices.
On the long term hard money always win. 1 BTC = 1 BTC. The manipulation expressed in fiat is temporal noise. If you believe this is not the case and government issued money always wins, even under pressure of infinite growing debt, that's up to you to decide.
When an asset gets big enough, the demand for ETF will grow and it will eventually pass.
However with bitcoin is different. Gold and other assets didn't have it's own built-in system with capped inflation and a transparent immutable ledger. This is what makes bitcoin safe against phantom derivative government scams which they indeed use to manipulate prices.
On the long term hard money always win. 1 BTC = 1 BTC. The manipulation expressed in fiat is temporal noise. If you believe this is not the case and government issued money always wins, even under pressure of infinite growing debt, that's up to you to decide.
Can the economists of the forum explain how the ETF opens for Wall Street the possibility of manipulating the price by diluting it with derivatives? I reckon it would be harder to do compared to gold because bitcoins can be traded easily over the counter worldwide without a need of an exchange or central authorities issuing ETFs.
Also read Andreas Antonopolous' comment because it also applies on wbtc.
In any case, wbtc is nothing but a new token issued by Bitgo for users to trade in Ethereum based decentralized exchanges while your bitcoins are in Bitgo's custody that requires KYC. I shake my head hehehe.
When the term Bitcoin ETF is mentioned in the crypto community, it is likely accompanied with a positive response precisely because of its tendency to skyrocket the token to a larger platform for investment, thus birthing bigger returns.
However, a cryptocurrency investor has expressed his concern for what might become of Bitcoin if the SEC agrees with the Bitcoin ETF applications. Certain that the token will lose its value, the user under the pseudonym “mariner2525” cried out via Reddit saying
"Bitcoin ETF is the worst thing that could ever happen to crypto. They’ve been rigging gold and silver – they will totally rig Bitcoin price by diluting it with derivatives.
After ETF- and a temporary spike in price – Bitcoin will be dead low all the time”
Antonopoulos explained that Bitcoin ETFs are aimed at making Bitcoin a tradable instrument suited for the stock market, which places it under the supervision and control of a custodian who holds the actual Bitcoin while investors are left with a share in their funds and not the Bitcoin itself.
In his words
“ETFs fundamentally violates the underlying principle of peer-to-peer money, where each user is not operating through a custodian but has direct control of their money because they have direct control of their keys”
Read in full https://zycrypto.com/etf-will-kill-bitcoin-for-good-investors-express-skepticism/
Also read Andreas Antonopolous' comment because it also applies on wbtc.
In any case, wbtc is nothing but a new token issued by Bitgo for users to trade in Ethereum based decentralized exchanges while your bitcoins are in Bitgo's custody that requires KYC. I shake my head hehehe.
When the term Bitcoin ETF is mentioned in the crypto community, it is likely accompanied with a positive response precisely because of its tendency to skyrocket the token to a larger platform for investment, thus birthing bigger returns.
However, a cryptocurrency investor has expressed his concern for what might become of Bitcoin if the SEC agrees with the Bitcoin ETF applications. Certain that the token will lose its value, the user under the pseudonym “mariner2525” cried out via Reddit saying
"Bitcoin ETF is the worst thing that could ever happen to crypto. They’ve been rigging gold and silver – they will totally rig Bitcoin price by diluting it with derivatives.
After ETF- and a temporary spike in price – Bitcoin will be dead low all the time”
Antonopoulos explained that Bitcoin ETFs are aimed at making Bitcoin a tradable instrument suited for the stock market, which places it under the supervision and control of a custodian who holds the actual Bitcoin while investors are left with a share in their funds and not the Bitcoin itself.
In his words
“ETFs fundamentally violates the underlying principle of peer-to-peer money, where each user is not operating through a custodian but has direct control of their money because they have direct control of their keys”
Read in full https://zycrypto.com/etf-will-kill-bitcoin-for-good-investors-express-skepticism/
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