Bitcoin ETF, Is it really needed?

[oxoxoxox]

I think Bitcoin can continue to develop even without an ETF, but if the ETF can successfully pass the review, then this will allow Bitcoin to land on the moon ahead of time!

[r1s2g3]

People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.

I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.

I think , they need to  put bitcoin in reserve for creating that amount of ETF so that much amount of bitcoin will be removed from market, otherwise there is no difference in paper currency and bitcoin ETF

[Initscri]

For greater legitimacy within the financial world, I think yes. But at the same time, I think that's a slipper slope. As many have mentioned, once a Bitcoin ETF is created, I'm sure it would be manipulated in such a way that wouldn't be friendly to Bitcoin.

I can speak for him/her/them; I don't ever think the original intention of Satoshi was for a ETF to be created.

[MasternodeInvest]

Good Ask, i dont know if ETF will be usefull fot btc, so... it will bring more and more founds to btc, but they are speculation founds, and if now whale can determinate a dump or pump... can you think with many financial whale on board?

[Obiwankenodium]

People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.

I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.

I think , they need to  put bitcoin in reserve for creating that amount of ETF so that much amount of bitcoin will be removed from market, otherwise there is no difference in paper currency and bitcoin ETF

If its a physicsl etf, then they will have to physically hold the bitcoin. If its a syntethic etf they will not hold physical coins, they will use swap constructions instead to replicate.

[josephdd1]

Yes, like most people on here I also feel that it will be interesting to follow ETF decision though I do have my reservations on how that will play out - hopefully, I'm wrong 

[joerogers8]

You guys thinking the ETF is necessary may be making a huge and critical mistake.  Your want of a temporary boost in Bitcoin will eventually destroy Bitcoin and hand the keys over to the Central bankers who run these ETF's.  I'm familiar with this ETF bullshit in the silver market.  

They completely control the silver market with their paper ETF game.  They actually do this for almost every valuable asset on earth but the silver scam is the one I'm most knowledgeable about.  If silver starts to rise they simply print paper silver and flood the market.  By doing this with silver (and gold) it makes the fiat look better.  Imagine if silver and gold began skyrocketing.  It would show the fiat currencies are crashing.  Can't have that. 

The logical man then says that will never work.  What if people take delivery.  They won't have it and it will break the market.  Bankers are too smart for that.  They have a stipulation in the contract you sign when trading paper assets that in case of failure to deliver they will pay you in dollars.   Dollars that they print!

If you guys let the bankers in so you can make a quick profit your destroying the entire movement.

[jiya jaena]

I think ETF are needed to provide certainty for investors, because if ETF already accepted bitcoin, investors will not feel hesitant about bitcoin, because right now there are still many investors who think bitcoin as a bubble or ponzi scheme

[manfredmann]

Bitcoin ETF was disapproved for it has another concern that US government does not allow to happen. I have posted a thread on economy section regarding with the conflict of cryptoccurency and the dollar currency The conflict of cryptocurrency and the US dollars currency!.

The ETF is not really needed but for some reasons that the community does want bitcoin to be acknowledge by the government so the ETF was created. This will help us to get more encouragement and to engage more in cryptocurrency and have some security over the money we invested on it. Definitely it could be help but then again it is not that needed for cryptocurrency could still be working even without the ETF.

[r1s2g3]

People don't seem to realise that ETFs are usually based on paper contracts, and this means they expand the apparently available amount of the asset. Bitcoin's value is based on scarcity, and the fact that only 21 million coins will be released. Just think of the effect on the price if ETFs add another 20 million "virtual" coins to the pool, and don't forget that their transfer will provide revenue for the banks, and not for the miners who are so important to the integrity of the Bitcoin economy.

I hope that ETFs never gain any approval, but they are such a valuable tool for banking control, that it is almost certain that they will be used for the benefit of the bankers.

I think , they need to  put bitcoin in reserve for creating that amount of ETF so that much amount of bitcoin will be removed from market, otherwise there is no difference in paper currency and bitcoin ETF

Going through this thread again and  realized that some  "ETFs are usually based on paper contracts" and ultimately there is no difference in paper currency and bitcoin ETF.

[Willitivity]

In as much as Bitcoin ETF is not fully needed but on the other hand, it's needed to a particular extent. Such things will bring a drive and cause new investors to come into the market, it can also provide room for more Bitcoin adoption and which when paired with other legalization, will bring about a turn around of things now.