The ETF date is the most interesting part about bitcoin at the moment. As a regulator you would have to be insane to approve a bitcoin ETF in current state, so if it did get approved it would probably be the government trying to create some alternative target for people to waste their time in and keep them out of the metals markets. When the current scam system starts to implode, gold will go to at least $20,000 an ounce in current buying power and silver will see even higher percentage gains. The sooner people figure this out, the faster it does implode - which is why they don't want people creating bull runs in those markets and want to distract people with other things instead.
Someone is going to get all upset that I implied bitcoin is somehow not as good as metals, but by that I just mean that it's very likely metals will have a currency roll again or that the world reserve currency will be metals, while it's very unlikely a nation state or the world reserve currency would be bitcoin. In fact, it would be a disaster since bitcoin isn't fungible with every transaction traced with white and black lists making it a permissioned ledger in that aspect. Until/if that issue is resolved, nobody should be wishing for the government or wall street to have any affiliation with bitcoin whatsoever when the odds of it turning into some 1984 scheme are far higher than not.
Bitcoin doesn't come without risk, if the system collapsed for some reason. If it was compromised or hacked. That surely rules it out as a reserve currency. Its a bit intangible with no physical "thing".
I suppose the equivalent in, say gold, is that someone manages alchemy and gold is suddenly 2 a penny.
In our bizarre world who knows which might even happen.
Tell someone 5 years ago their young children will never need to learn to drive a car, most say you're crazy.
Make the same statement today, most will agree.
Today if we claim we will be able to mine an asteroid 100 years from now, and increase the supply of gold on Earth multiple-fold, most say you're crazy.
...Even without considering alchemical solutions, we are nearing the tipping point where the feasibility of asteroid mining will be demonstrated. I believe it is already an eventuality, and merely a question of timing. I think within 5 years, we will have a similar tipping point for the technology required for asteroid mining.
The difference here is that precious metals have no way of transforming their way out of this problem.
Bitcoin's equivalent problem - quadratic computing - does have a solution, through evolution.
