Bitcoin ETF good or bad?

[tajimas]

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

-Regards

[Upgrade00]

ETFs do not bring Bitcoin any closer to being used as a currency, it actually encourages it to be held for extended periods of time. It will attract more potential long term holders who could not gain access to Bitcoin directly which should cause the price of Bitcoin to increase and reduce price dumps caused by panic sell offs.

Nothing can give the government more control of the Bitcoin in your wallet if you handle it using the right privacy tools.

[Stalker22]

The Bitcoin ETF sure seems like a huge development thats for certain.  It will probably drive up interest and prices of not just Bitcoin itself but crypto overall given it adds legitimacy in the view of everyday investors versus the niche internet crowd cryptos largely stuck with up until now.  But the prospect of growing government regulation down the road is dicey, no doubt about it.  We just dont know if lawmakers will clamp down with restrictions or how soon it may happen if so - not a whole lot anyone can do preventatively if regulations get passed ultimately.  Such is the world we live in.

[darkangel11]

Affect? It already has affected it.
ETFs advertise on national TV and they not only advertise the investment, but also indirectly bitcoin. Believe it or not, many people still don't know anything about bitcoin. They heard the word somewhere but never bothered since it was this Internet thing and they don't have a computer. Now that it's on TV and their pension fund is investing, they feel intrigued.
Let's not forget about people who would never buy real bitcoin but they might call their broker and tell him to get them some bitcoin through the ETF.
In future it's going to bring more of such people into the space. If you ask me, it's better if they own paper bitcoin owned by Larry Fink than not own it at all. Bitcoin exposure of at least 1% is something every single adult should consider.

[Ambatman]

Only time will tell.
Bitcoin is already a currency albeit a Digital one.
The only individuals that can be under the control of the government is those that chose to buy the ETF.
ETF approval is no way related to the government controlling the blockchain.
Consider ETFs like CEX but well regulated by the government
The good thing I can say is that ETF has created awareness and has added some level of legality in the eyes of the public.

[Adbitco]

Already as we know the ETF has given rise to the price of bitcoin which also creates more avenue for more investors to venture into the market and that doesn't mean that the government is in total control of anyone's bitcoin that is in their possessions. This doesn't change anything from bitcoin and we still have it as bitcoin and not fiat, there are people who don't still have access to bitcoin due to some restrictions could be poor network, lack of facilities etc. Only those who are privilege to be in the 1st and 2nd & 3rd world country could have total accessibility to it respectives that it allows both Rich & Poor to own it. ETF doesn't reduces the number of bitcoin neight does it add more to bitcoin other than development, again It has given more exposure to its price where by the number of investors has increase significantly which results to what gives rise to the recent price of bitcoin even before getting halving.

[kentrolla]

On a short term it has benefitted Bitcoin as the price of Bitcoin has surged and it spread more awareness about Bitcoin and helped more people to know Bitcoin who were not aware but we need to understand the difference between ETF and Bitcoin as ETF is more controlled by government so I cannot comment on future but at the moment it has helped Bitcoin's publicity as well as attracted more investors.

[Z-tight]

How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

Do you understand how BTC etf's work? If you buy BTC etf's you are not owning any BTC, but you are buying shares of a BTC etf. So how can it increase the acceptance of BTC as a new currency, when people do not buy 'real' BTC's to store them in their own self custodial wallets.

After BTC spot etf's were approved in the U.S, we saw the impact it had on the price of BTC, because of the amount in inflows. So i think the impact of spot etf's can only be seen in the price, i.e. if there are huge outflows sometime later, then we can expect the price to drop too.

[alastantiger]

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

-Regards

I think that bitcoin ETF approval will accept Bitcoin there are the positive signs and there are the negative sites but let me talk about the positive. Bitcoin ETF approval will increase bitcoin's popularity as you cannot write bitcoin ETF without writing Bitcoin. This can lead so it's.

Bitcoin ETF will not trigger the adoption of Bitcoin. Rather what it would do is to entice the older generations to buy Bitcoin through their ETF vehicle.

[Sandra_hakeem]

Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

Although the Renaissance of Bitcoin, there wasn't anything like ETFs...IMHO, there's never been some sort of support to aid the growing process other the devaluation of some local FIAT currencies.
Buying ETF is more like owing some shares capital; it doesn't mean you've got any Bitcoins... Most investors would go for this as a monitoring tool on Bitcoin price movement and volatility.
I mean, what's the sense in over paying brokerages - a tune that's much higher than the normal 30 sat/Vbyte?

So i think the impact of spot etf's can only be seen in the price, i.e. if there are huge outflows sometime later, then we can expect the price to drop too.

The influx was an increased price + volatility.
This will only make the government more hungry in time. Lol

[Antotena]

Hello,friends
How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?
Will it trigger the development and acceptance of bitcoin as a new currency and investment instrument or will it drive us more and more under the control of governments?

-Regards

Good or bad, it's subjective.

A person who adore stock and thinks it's a superior investment than any other thing but has been eyeing Bitcoin for long will go for ETF but the person who loves freedom will pick Bitcoin over the ETF simply because of that "freedom", you can never have that with ETF.

If you buy an ETF, it's not like Bitcoin that you can withdraw from an exchange to a personal wallet, you either buy and keep on the broker or you sell and get equivalent fiats but for Bitcoin, you will buy bitcoin and you will get nothing but Bitcoin, you can send it to anyone or move your thing to an external wallet. You have your answers, it's subjective.

[Orpichukwu]

One thing about the ETF, like others have mentioned, is that it brings about more exposure to Bitcoin among those who doubted it before, as well as the price surge, which also happened due to the news and hype.
 
But one thing I see as the negative part is that ETF promotes a way to own Bitcoin without actually owning any real one, like it promotes non-custodial ownership.

With the acquisition of Bitcoin through ETF, you won't be thinking about custodial wallets anymore; you just buy them just like you buy stock, and you don't have any private country about it. 

[The Cryptovator]

No doubt ETF is good, but more likely, a large number of bitcoins are controlled by a centralised broker. They might manipulate the market if they want. However, due to ETF, a lot of new investors have introduced Bitcoin, and they are investing. They are just buying numbers, not real Bitcoin at all. I don't know why investors think it's risky to buy direct-chain Bitcoin, but they feel comfortable with ETFs. It's just nonsense to me, though ETF helped push the chart. 

[_BlackStar]

With the approval of the ETF - there is great hope for the future of bitcoin will be even better. ETF can encourage demand for bitcoin in the market regardless of how new investors invest in them - of course, not all new investors are interested in ETFs because some of them are interested in having real bitcoin in their wallet.

ETF can be considered an important fundamental to the future growth of the bitcoin market. This can be indirectly expected as the reason why adoption is growing over time - but the increase in adoption is not because of ETF, but because adopters know that bitcoin is a viable and profitable option as a means of payment.

[GbitG]

Yeppers mate !
Beyond any doubt, the Bitcoin Spot ETF has already affected Bitcoin. If we look at the past data, since the approval of the Bitcoin Spot ETF, there has been a surge in Bitcoin, and high volumes have also been entered. So this is proof that the approval of the of the Bitcoin Spot ETF has already affected the price of Bitcoin. And above all, Bitcoin's new all time high is proof that the new all time high halving was created by Bitcion Spot ETF approval. So Bitcoin Spot ETF approval has already done all of its work, so we can expect more from the ETF, that is, more information can be added to Bitcoin. And at the same time, Halving will also have a unique impact on the price.

[adaseb]

I think it’s more positive than negative.

You reach a larger audience when they can simply buy it on the stock exchange or they can call their broker and buy some bitcoins thru the etfs. Before you had to deal with CEX which was a pain and took too long to set up.

There is also more liquidity. So one large whale won’t be able to manipulate the market as before. There is going to be less volatility so no more days where bitcoin has 20% swings in price.

Negative is that there is more regulation. Which can be seen on how exchanges are strict with their users.

[Catenaccio]

There is also more liquidity. So one large whale won’t be able to manipulate the market as before. There is going to be less volatility so no more days where bitcoin has 20% swings in price.

Naturally, as all markets, bigger market cap, less volatility. Some times there will still be 20% or 30% volatility but it will occur with lower intensity. Gold, oil, and stocks can have high volatile days but such days won't appear too often. Same for Bitcoin price volatility in future as if some day Bitcoin price is $1M, we can not expect 10% change in a day, it will be $100,000 that is too much.

Negative is that there is more regulation. Which can be seen on how exchanges are strict with their users.

We can not have both like bigger adoption, bigger market cap but the same or less regulations on this market. We actually want to see this market to grow bigger, Bitcoin to gain higher value and higher price, so we must accept more regulations like how governments do on other markets.

[Helena Yu]

What date is it? it is January 10, 2024? come one, it's already May 4, 2024 which is almost 4 months after SEC approving ETFs!

As we can see even just in 4 months, we already see few bad news about Bitcoin, the government seized a non custodial wallet that offer privacy tools i.e. Samourai Wallet and US will tax Bitcoin miners. What might happen in the future? we might see government force people to use CEX, file your full crypto holdings, and only use address that you had submitted if the address is belong to you.

The conclusion Bitcoin ETFs is bad.

[armanda90]

Already affective with Bitcoin ETF bring positive side and bitcoin success make new ATH, but ETF Bitcoin can't controlling with bitcoin transaction depend on holder of bitcoin each self. But have other bad side with ETF bitcoin where government have a lot of controlling with some bitcoin wallet after many platform wallet seized by government due money laundering issues depend is true or not. I think in the future when ETF Bitcoin will make many problem and giving bad side for bitcoin its self although bitcoin can't manage by any community of countries but most of holder scared when government sharing bad news about bitcoin.
In future, just want to see ETF not try to make FUD by seized many top exchange without acceptable reason such as money laundering after several exchange got cases from Binance CEO until last market with Kucoin.

[Alone055]

They will surely increase the acceptance rate because companies such as Blackrock that have their ETFs approved will have a lot of customers making investments with them which is the reason why these companies have bought so many Bitcoins recently. The customers these companies get or have are the ones who are always doubtful about Bitcoin and its existence but are also willing to invest in it. So instead of buying Bitcoin directly, they make their investments through these companies. So when it comes to acceptance, I also believe that ETFs will increase that in the future.

When it comes to the government and control, ETFs are not always under the control of the governments, but it is true that it is a centralized mode of investment which means that you are giving away your personal information to a private and centralized company which isn't the case if you are investing in Bitcoin directly and buying through a decentralized platform such as Bisq.