Everyone is very exited about the possible approval of the Bitcoin ETFs by the SEC, but what are the possible downside to this approval?
1. Large capital flowing in, can just as easily be pulled, causing even more volatility on a larger scale.
2. Institutional investors have huge capital reserves to manipulate the price.
3. Most bitcoins will change hands from the long-term hoarders and early adopters, to the filthy rich Hedge funds.
4. The price might increase so much, that the smaller investors will be priced out of the market.
5. A very high price and high volatility will change Bitcoin's use from a Commodity/Currency to a full blown Commodity.
What other negative side affects of the Bitcoin ETFs, can you think of, or are you just another speculator that wants to make a huge profit from Bitcoin?
We should care more about the impact that this might have on Bitcoin as a driver of innovation and a alternative payment option. <Currency>
