Back in 2018 for a sec. Just found a topic about a scam and while googling I remembered about an SEC open comments about ocbe etf. Some of them are epic and you will find many true bitcoiners here:
https://www.sec.gov/comments/sr-cboebzx-2018-040/cboebzx2018040.htmI will post some of those that I have loved:
Dear SEC official,
Please approve the CBOE Bitcoin ETFs, stop being the new luddites, it’s not your job.
Bitcoin and cryptocurrencies are Anti-Fragile. They will not go away under regulatory pressure.
If excessive regulation squeezes them in one geographic location they will just grow in more friendly places, become stronger, more resilient and eventually return when it’s too late for American investors.
By not approving these ETFs you are forcing American investors to place their funds in off-shore jurisdictions, thus rather than protecting them, you are pushing them away from American regulatory protection, the opposite effect of your mandate.
regards,
Dear SEC administrator,
Bitcoin is the new Gold! An ETF would give the old folk who can't paste a link into an email -I'm looking at you Mom- a chance invest in the asset class of the future.
When Fidelity, Coinbase and others are allowed to be custodians for cryptocurrency investment, the high bar to safe ownership that currently exists will fall and computer knowledge will no longer be a prerequisite to participate.
When Bitcoin and Ethereum adoption hits globally -fast becoming a reality- it would be nice if the US population -young and old- had a larger stake in it.
Respectfully,
I believe that Bitcoin and Ethereum have reached sufficient maturity and adoption as digital value ecosystems. The public should have the opportunity to invest in the growing asset class through tradition financial instruments like an ETF. If the ETF proposal is rejected, the SEC needs to give clear instructions for what needs to be done to accept a proposal for a Bitcoin or Ether ETF. Every effort is being made to be compliant and the SEC should not block main stream investors from this emerging asset class.
I support the creation of ETFs and other cryptocurrency-based financial instruments because 1) accessing crypto markets provides value to society and 2) there are currently significant barriers to entry blocking people without technical skills from accessing those markets.
1) Crypto markets provide value to society:
Cryptocurrency markets have value because, among many other uses, blockchain technology allows for: a) a hedge against the collapse or devaluation of a national currency as seen in Zimbabwe and Venezuela b) more efficient tax auditing c) labor-saving smart contract technology d) digitalization of property deeds e) distributed autonomous organizations (which can comply with SEC regulations in the future) f) a more cost-efficient alternative to credit card transactions
2) Significant barriers exist for retail investors:
Setting up an account on ETRADE is much easier than learning about the differences between leaving crypto assets on an exchange versus using hardware wallets, paper wallets, web wallets, or desktop wallets.
Hackers and criminals profit from scamming people with a lack of technical expertise. User error results in the mistaken loss of assets.
For these reasons and more (including Japan's head start in this area) I support the creation of cryptocurrency ETFs, including this Bitcoin ETF.
This was a fun read for this evening
