[2017-03-09] Mainstream Media Columnist Says SEC Should Reject Bitcoin ETF

[TwoTimes]

A recent opinion piece coming from the publication the Hill has exclaimed that if the U.S. Securities and Exchange Commission (SEC) approves a bitcoin exchange-traded fund (ETF), it will lead mainstream investors to “slaughter.”

A contributing columnist for the Hill, Jim Angel thinks a bitcoin ETF is a bad idea and not in the public’s best interest. Essentially, the author does believe in ‘blockchain technology’, but bitcoin is primarily used for “money laundering, ransomware, tax evasion and other criminal activities” according to Angel. The article states that if SEC approves these bitcoin-backed ETFs it will only further bolster these types of illicit activities.

Read More Here: https://news.bitcoin.com/mainstream-media-columnist-sec-reject-bitcoin-etf/

[Papa Bear]

Time and time again the mainstream media has tried to portray bitcoin in a negative light. It is true that bitcoin has been used in ransomware and other illicit activities, Ransomware has been around since 1989, long before bitcoin. The rest of the black market illegal acts mentioned in the article Hill also heavily funded by fiat reserves, credit cards, major payment providers, as well as by gold and diamonds.

[aigeezer]

From one of his articles, bolding mine: "Can an entire payment system like bitcoin be “evil,” as charged by Krugman (2013)? Payment tools as such are ethically neutral, but can be used in an ethical or unethical manner."

http://link.springer.com/article/10.1007/s10551-014-2354-x

Back in 2013 he said: "Governments don’t like competition in the currency business and if it gets too big they will clamp down. Also, you are trusting algorithms to protect the system, and we all know that technology breaks or gets hacked," James J. Angel, MSB professor, on Bitcoin's long-term viability. Bitcoin bubble grows and grows April 3, 2013, The Financial Times.

Quotation above found on his bio page: http://explore.georgetown.edu/people/angelj/

I call FUD.             

[Slow death]

Time and time again the mainstream media has tried to portray bitcoin in a negative light. It is true that bitcoin has been used in ransomware and other illicit activities, Ransomware has been around since 1989, long before bitcoin. The rest of the black market illegal acts mentioned in the article Hill also heavily funded by fiat reserves, credit cards, major payment providers, as well as by gold and diamonds.

I think this journalist does not live on the same planet we live in


Before there was no bitcoin and there were crimes of money laundering, terrorism, arms trafficking, trafficking in human organs, trafficking in women, prostitution, bribery of politicians, corruption ... all this is done with money.

People blame technology instead of blaming people who use technology for criminal purposes