Bitcoin ETF .. do we really need it?

[Herbert2020]

i am starting to think that nobody gives a shit about SEC and ETF at all. at least all of real traders don't, maybe newbies are different. BUT the difference is that everyone also is afraid of how others (the market basically) is going to react to the news so they speculate about that reaction and then act on it.

for example with the rejection of an ETF that happened recently the speculation was a drop so they started selling. then with the postponing of the decision about the other ETF there was another speculation of drop so they panic sold again.

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[vossybiglady]

No we absolutely do not need it.  You want people trading actually bitcoin not paper bitcoin.  They will print 10 billion paper bitcoin and have those things floating about wallstreet crushing the prices if I understand correctly.  I wish it won't happen but you know it will.  They want the control.  45 days to fill your bags. 

[vinbentrob]

As it is right now,  majority of the market participants feels we need ETF!  I also think we need ETF for those big investors that want to see structure. These investors will not able to come into cryptocurrency market as it's presently is!

[BitNaija]

My opinion is that we need the bitcoin ETF. Yes, it might not get the needed education to all, but it a way to get many more people feel the effect of bitcoin. Who knows, they might seek the education latter.

[NeuroticFish]

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

Bitcoin ecosystem consists in businesses. We have a couple of exchanges, casinos, hardware producers and not much else.
For increased adoption we need more and more businesses incorporate Bitcoin. And for that the price has to grow substantially and not fall too much. And for that we need inflow of money.

Many projects, startups, even so-blamed ICOs are tied ultimately to Bitcoin's price. Some could die off not because the project is bad, instead, because they didn't sell Bitcoin, Ethereum, whatever to fiat in December (maybe they even had the ICO after that).

Also tangentially related: After the halving, which I know it's quite far yet, the miners will still have to stay on profit. And again, this depends on Bitcoin price.

The "ETF" will not bring anything "of quality purpose" for the network. It would be better to set up more retail exchanges to make it easier for every person to buy and hold Bitcoin in my opinion. Adoption.

The average Joe may be afraid to hodl if the price falls month after month.
At some point the Dogecoin community wanted to try your idea to prevent the coin fall too much and they failed. You know why? Math. How many "Joe" have to hodl and even buy more to counter somebody that can easily sell now and then 1000s of Bitcoin? Keep in mind that the average Joe has maybe 0.1 BTC, not 100s ...

Also, if literally everybody would just buy and hodl, then we would have a failed coin, with no liquidity, not adoption... Just my 0.00000002BTC

[Distinctin]

ETF is already in the minds of the people, they believe that ETF will change the fate of bitcoin this year and will dictate the price of bitcoin to break its ATH.
That is how the media affected our minds, they always emphasize that ETH is important for the market to grow and reach $1 trillion market.

[rajkr]

The successful ETF can bring the BTC at previous hike.I hope ,it will get sooner.

[Bezobraznike]

ETF is already in the minds of the people, they believe that ETF will change the fate of bitcoin this year and will dictate the price of bitcoin to break its ATH.
That is how the media affected our minds, they always emphasize that ETH is important for the market to grow and reach $1 trillion market.

   What ETF can do is to legalize Bitcoin businesses inside US borders, if we know that US dollar is the most used in international transactions and it`s world's primary reserve
currency, that is big step forward for Bitcoin to be legalized in that country. Do we really need it? Of course we need it and that will happen one day, this or next year, it`s a great
that they already talk about it, they have many propositions and there will be more.
   What we need is more people to have trust in Bitcoin, when governments regulate Bitcoin inside their own borders more people will have trust. Many people wait that assurance
from their governments to get into crypto-currencies.

[Turst1974]

I think we really need it because if Bitcoin ETF approved the demand of the cryptocurrency will increase alot and the total market cap of crypto possible to going up more than $1 trilliun in just afew month. When Bitcoin ETF approved by SEC , many new big investor will put their money in to crypto.

We can see a little reaction after the SEC decision about ETF, but I think that it will affect the bitcoin price temporarily and very soon the bitcoin price will regain their position very soon. we just need to remain calm and strong.

[berrygood]

We do not need it but not everything comes from a need, it will have positive effect on the price so it is good for most of us.

[rumexx]

If we could achieve the acceptance of ETF by SEC within a short period of time it will really help the bitcoin market by bring new inflow of cash which will increase the demand of bitcoin and this chain reaction will impact on the market price and volume. ETF will be a great relief if it will be successful.                                                                                                                                                                                                                                                                                                                                     

[krauzzer02]

Bitcoin achieved ATH without the help and hype of ETF, it merely affects the price of bitcoin as the holders of ETF are not be going to invest directly in bitcoin but on the other hand, it has some good benefits to its traders so if that helps crypto then we needed it if the opposite happens then we should discard it, more adoption, enhance the trust of the possible investors and improvements that can greatly affects the price positively.

[ExtremeFacials.com]

I don't actually understand it fully and I can not make it conclusion do we actually need it but anyway I am understanding that it is greatly affecting the price of Bitcoin so it means that it is something significant,

[pobeditelvezde]

I find bitcoin ETF is useful because ETF may attract new investors. As far as I know gold ETF is quite popular among retail investors who wants to buy gold but do not want to buy real metal or futures. Aslo ETF may be useful for institutional investors because they like investing by buying various ETFs. I think we do need to feel fear on ETF because it is an useful instrument which may be used some part of investors. Also it would be nice if SEC was control this ETF.

[Bobby park]

The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.

https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/

Why do we need the result of ETF? Simply, because market reactions are based upon the news and the decision of SEC will determine the future price of bitcoin. But whatever it will go, price will move up when September comes on. It is a preparation for the upcoming 2018 Christmas and New year celebration, just like 2017 scenario.

[Wind_FURY]

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

Bitcoin ecosystem consists in businesses. We have a couple of exchanges, casinos, hardware producers and not much else.
For increased adoption we need more and more businesses incorporate Bitcoin. And for that the price has to grow substantially and not fall too much. And for that we need inflow of money.

Many projects, startups, even so-blamed ICOs are tied ultimately to Bitcoin's price. Some could die off not because the project is bad, instead, because they didn't sell Bitcoin, Ethereum, whatever to fiat in December (maybe they even had the ICO after that).

Also tangentially related: After the halving, which I know it's quite far yet, the miners will still have to stay on profit. And again, this depends on Bitcoin price.

But how would an "ETF" change all that? Bitcoin is an open system, a type of "hard money", and it is ready and welcome for anyone to use.

Bitcoin doesn't need an ETF. It is Wall Street scammers that want an ETF.

The "ETF" will not bring anything "of quality purpose" for the network. It would be better to set up more retail exchanges to make it easier for every person to buy and hold Bitcoin in my opinion. Adoption.

The average Joe may be afraid to hodl if the price falls month after month.
At some point the Dogecoin community wanted to try your idea to prevent the coin fall too much and they failed. You know why? Math. How many "Joe" have to hodl and even buy more to counter somebody that can easily sell now and then 1000s of Bitcoin? Keep in mind that the average Joe has maybe 0.1 BTC, not 100s ...

Also, if literally everybody would just buy and hodl, then we would have a failed coin, with no liquidity, not adoption... Just my 0.00000002BTC

Then it is not my fault that they have failed in having a deep understanding of Bitcoin. But how would it differ from holding an ETF if the price is falling?

[Pursuer]

I wish more people asked this question the day that ETF hype began last year for the first time. by then we all were blinded by the hype and the rise because were thinking about profit, this year the same thing happened and we were blinded once more.
people were also happy about futures but they ended up hating that soon enough as the prices started going down and they saw behind the curtain. ETF is not exactly the same but it will get the same kind of people involved and they don't care about bitcoin, they want fiat.

if people were thinking more about how pointless an ETF is for a decentralized and global currency then we might not have had the past 2 month's volatility.

[Thirdspace]

to answer the topic, I will say that we don't need ETF
this ETF will only create another price bubble like last year, an abnormal price spike
and guess who will reap the profits? right... whoever behind this ETF idea
they've accumulated cheap bitcoin and this ETF is just their exit plan for profit

[satosibtc1000]

ETF will do more harm than good I think that the world of cryptocurrencies can do without it.

[Pamadar]

to answer the topic, I will say that we don't need ETF
this ETF will only create another price bubble like last year, an abnormal price spike
and guess who will reap the profits? right... whoever behind this ETF idea
they've accumulated cheap bitcoin and this ETF is just their exit plan for profit

This is the right time to think deeper each time we've heard some news about btc or crypto,  we should learned from the past and analyze well each decision that we will going to, ETF seems to be the reason from the last years pumped many traders and investors buy in because of this possibilities,
but it looks like most of them who didn't bothered to understand first the potential are blindly been trapped by the quick hype, now they are selling
in with loses, ETF can be a good spark in terms of bigger venue attracting more new target investors and traders, it can help only if being supported.