Bitcoin ETF good or bad?

[Darker45]

There's good and bad that come from it, but if we are to be pedantic about Bitcoin, I should say it is generally bad. With spot Bitcoin ETFs, the emphasis on peer-to-peer is gone. The emphasis on a trustless system that eschews third parties is forgotten. The features which make Bitcoin revolutionary; decentralization, freedom, independence, ownership, control, and so on and so forth are set aside. Without all these, Bitcoin isn't Bitcoin anymore. The Bitcoin in spot Bitcoin ETF isn't money. Strictly speaking, Bitcoin in spot Bitcoin ETFs isn't Bitcoin at all.

Perhaps bitcoin ETFs somewhat overshadow the features that make bitcoin special but I think even without bitcoin ETFs, those things would have happened sooner or later. The simple reason is because bitcoin is considered a speculative asset rather than a currency, and this was before the emergence of ETFs. Once it is called investing, profit will be the top priority, not too many people will be interested in other features of bitcoin. Looking at the growth of centralized services and centralized exchanges speaks for itself, and the fact that bitcoin has become more centralized is not entirely the fault of ETFs.

Yeah, we've been going to that direction even before the approval of these spot Bitcoin ETFs in the US. Ever since Bitcoin became popular, centralized platforms have already emerged. Ever since Bitcoin got assigned with fiat equivalent, it has gradually turned into an asset or an investment.

I'm not saying this is the fault of ETFs, though. All I'm saying is that ETFs can be bad to Bitcoin. And whether the trend has been moving toward this direction already even before the ETF approval or not is quite another story. But the entry of BlackRock and the rest of the traditional giants in finance ushered so to speak by no less than a government agency is like the final nail in the coffin. It's like a stamp which signifies the traditionalization of Bitcoin.

[Ale88]

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?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

[khalidkhan82118]

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?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

Your insight nails it! Bitcoin ETFs might not make it a currency overnight, but they sure are sparking curiosity and that's a win.

[Cryptomultiplier]

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?

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

Your insight nails it! Bitcoin ETFs might not make it a currency overnight, but they sure are sparking curiosity and that's a win.

Every win is a win and the ETF approval is more than just a win, but a nod that all is in order and the concept of Bitcoin and cryptocurrencies in general is here to stay and be a solution for investors as well as those who intend to make a career out of trading Bitcoin either part time or full time.
The ETF approval is what large corporations and large pocket investors need to invest their funds as buying coins on a regular by DCA or at once may prove too much to handle and ensure safety. Hence, it is a good advancement for the interest of BTC and cryptocurrencies in general.

[EarnOnVictor]

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?

Let me start with the question of the title, ETF is never bad, and as a matter of fact, it will give Bitcoin more relevance. However due to the way Bitcoin was created and its function and operation as well, the ETF may not be as important as people believe it to be compared to how it is so important with Crude oil, Gold etc.

Bitcoin is structured in a different way like never before and with or without ETF, Bitcoin will continue to gain popularity, and adoption and attract investors. The extensive benefits from the ETF, in the long run, will naturally be directing more investment into it. But this will only be in a way as those who are afraid to buy, hold and manage their Bitcoin themselves or are afraid about the privacy and decentralization of the asset, will join due to the ETF. It will help in this regard since the ETF will make Bitcoin to be more centralised even as the system itself is decentralised. This will also naturally means that the government can oversight the activity better than though it was moving within the core Bitcoin plans of non-custodial approach. This will help them cool their nerves as well.

[kro55]

There's good and bad that come from it, but if we are to be pedantic about Bitcoin, I should say it is generally bad. With spot Bitcoin ETFs, the emphasis on peer-to-peer is gone. The emphasis on a trustless system that eschews third parties is forgotten. The features which make Bitcoin revolutionary; decentralization, freedom, independence, ownership, control, and so on and so forth are set aside. Without all these, Bitcoin isn't Bitcoin anymore. The Bitcoin in spot Bitcoin ETF isn't money. Strictly speaking, Bitcoin in spot Bitcoin ETFs isn't Bitcoin at all.

Perhaps bitcoin ETFs somewhat overshadow the features that make bitcoin special but I think even without bitcoin ETFs, those things would have happened sooner or later. The simple reason is because bitcoin is considered a speculative asset rather than a currency, and this was before the emergence of ETFs. Once it is called investing, profit will be the top priority, not too many people will be interested in other features of bitcoin. Looking at the growth of centralized services and centralized exchanges speaks for itself, and the fact that bitcoin has become more centralized is not entirely the fault of ETFs.

Yeah, we've been going to that direction even before the approval of these spot Bitcoin ETFs in the US. Ever since Bitcoin became popular, centralized platforms have already emerged. Ever since Bitcoin got assigned with fiat equivalent, it has gradually turned into an asset or an investment.

I'm not saying this is the fault of ETFs, though. All I'm saying is that ETFs can be bad to Bitcoin. And whether the trend has been moving toward this direction already even before the ETF approval or not is quite another story. But the entry of BlackRock and the rest of the traditional giants in finance ushered so to speak by no less than a government agency is like the final nail in the coffin. It's like a stamp which signifies the traditionalization of Bitcoin.

Although it is not good for bitcoin as you say, there is one thing we cannot stop them and I think that is the price we have to pay if we want bitcoin to become more popular. Besides the negative side, we cannot deny that with the adoption of ETFs and thereafter, more and more traditional investors are interested in bitcoin and they are investing in bitcoin through ETFs. Supposedly, without ETFs, bitcoin's popularity would still be very limited and many people would hesitate to invest in bitcoin. ETFs bring pros and cons to bitcoin, not just harm.

[Z-tight]

but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

I get your point, but do you believe people who buy BTC spot etf's are actually interested in BTC, i think it is the opposite, and they just want to invest in BTC without caring about its technology or basic things such as having a BTC wallet or backing up their seed phrase. BTC spot etf's is great for BTC price, but not so great for what it was originally created for.

[justdimin]

I think Bitcoin ETFs will give large centralized financial institutions more control to manipulate the Bitcoin volatility. We now find that huge pension funds are also investing in Bitcoin ETFs and we know they are very trigger happy.

The slightest drop in the price, will cause them to dump Bitcoin ETFs for something else and this will have a huge ripple affect in the market.

So we might see wild volatility in the price, when those fund managers pull investments from ETFs.

I feel like we had a lot of people like that anyway, and we are ending up with basically something quite similar again, there isn't anything that could get any different aside from maybe just size of things. When it dropped just a bit, it dropped a lot, when it went up a bit, it went up a lot, it has always been like that.

Volatility is something we talked about in the crypto world since the start of crypto world, it is not going to really change much, maybe it would be even more volatile but we are used to being volatile so being more doesn't really change much for us. I hope that people would see that ETF could also provide a lot more money into the market as well and that matters, we should be focusing on that part of the deal, because it is such an important part of it.

[moneystery]

I'm not sure it will help bitcoin to become an actual currency; what will do for sure is bringing more attention, and that is good. Probably the majority of people who buy the ETF won't care about buying the actual bitcoins but even if a small percentage of those people, let's say 5%, will somehow become more interested about bitcoin then, for me, it's a great result.

i also think like that, even though bitcoin etfs don't have a significant impact on the bitcoin market, at least they can have a positive impact where there might be etf investors who are immediately interested in buying bitcoin because they are curious to try out how to buy bitcoin directly in their wallet. so this etf can be said to be considered a new form of promotion for bitcoin, even though it's not directly like that.

[Learn Bitcoin]

How do you think the Bitcoin ETF approval will affect bitcoin and cryptocurrencies in general in the future?

I don't want to talk about the future. But I can share my observations so far. According to my observation, The entire market is moving with the ETF market now. Since the ETF report is not instant, updating the market takes a couple of hours. Sometimes it takes a day. I noticed that if we see net inflow on the ETF market, Bitcoin price increases for the next day, and the same thing happens when we see net outflow on the ETF market. Now if you ask that if it's good or bad, I don't know. ETF brings more centralization. But we all should be okay with that. People who cares about their privacy will remain anonymous and they don't think much about centralization. Anyonymous people will enjoy the market movement instead.

[Zigabel]

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

Actually Bitcoin ETF has got some benefits it's giving to cryptocurrency as a whole and this is something that were are not going to see taking place almost immediately, just maybe it may take sometime before it eventually comes to actually fulfilment because even after the ETF approval there will be need for some time for some others to looking in to adaptation thereafter but then Bitcoin becomes more acceptable and probably adoptable by many others by virtue if the ETF approval. This ETF approval isn't really going to give total control to the government but then there will be some form or local regulations because the Blockchain technology isn't such that you can gain absolute control over or further restrict.

In some regions there have been implications that have led to the bank of Bitcoin and some cases cryptocurrency at Large but then it still didn't give them the control or absolute regulatory power over Bitcoin and cryptocurrency in general.

[ChiBitCTy]

It’s both good and bad in my opinion. On one hand it’s absolutely propping up the value of Bitcoin , which is really not something that’s even debatable.

On the other hand, it does give big fund giants a bit of control over price changes or the “network” for lack of better terms.

[Z-tight]

On the other hand, it does give big fund giants a bit of control over price changes or the “network” for lack of better terms.

I don't agree, BTC etf's do not give institutional investors any kind of control over BTC. I know there's been a large inflow through BTC etf's since its approval, and if we see a lot of outflows, the price will drop temporarily, but i would not call that control. Take note too that these guys are investors, so they are not going to be selling their coins only because they want to 'manipulate' the price and it is also unlikely that the outflows will happen all around the same time.

[Dunamisx]

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?

Bitcoin stands on it own while ETF as well stands but its dependent on bitcoin market price, only when we realized the role and effect of bitcoin in determining the value for the ETF commodities, we will then understand that this adoption will yield to more use case of bitcoin in the future as many other organizations and investments will have to depend on bitcoin market price even though they are not investing directly in bitcoin.

[dezoel]

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.

The ETFs are just the start, can you imagine in 5-10 years time where we will be with Bitcoin regulation wise & adoption wise? I think the ETFs are only just getting started and I for one wouldn’t be surprised if we see record breaking deposits from all the folks who want the ability to buy into Bitcoin without assuming much risk. The ETFs are a great way to get exposure but a bad way to promote liquidity and freedom with your coins.

ETF's are not the start but yeah, they are not going to be the last. It's not only the regulation and adoption are going to add but new innovations too. ETF's in crypto are literally getting started because it's not long ever since they got implemented but despite of it, we already saw their effect and it was positive.

There are people who buy BTC via the ETF's thinking it is less risky but it is actually more risky than buying and holding on their own although maybe they are only lazy or they don't think they have the time to manage their BTC's/keys. Let's only hope that those people are soon going to change but they likely can, once they experience an issue or difficulty.

[Hamza2424]

Hmm, in a few words good for holders, and bad for those who missed the early buying opportunity, TBH I'm not a big fan of ETF but if they are generating good volume and people are getting familiar with Bitcoin in traditional way why not at the end of day its good for whole community there a few concerns but yup nothing can be perfect there will be falws in the system always we cant setisfy every requirement with desired results.

As far as I am able to buy Bitcoins freely wthut any restrictions and as far as I can keep my accumulation private there is nothing to do with other -ve developments because community is strong enough to go through any circumstances so even if they removes this ETF system I don't care.

[harapan]

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.

Initially,it creates room for exposure,setting aside the risks hat it possess.Its a center of attraction for investors to gain and regain acknowledgement without any complications or involved risks.
People that use ETFs for investment transactions always end up successful,renders a moderate impacts to your transactions to always increase distribution and reduce unnecessary mismanagement.

[VanKushFamily.com]

Results:

The Price will go up, Some People will go to Jail (and Good, there are Criminals in the Cryptocurrency World, I have said before that it is Ripe for Money Laundering and that is pretty much impossible to Stop, all they can do is Arrest People who are Actually doing it).

[CryptopreneurBrainboss]

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?

It'll drive us more under the control of the government, ETF are centralized so imagine how many Bitcoin they'll be hodling when new investors only buy Bitcoin throughout ETF, it'll make leaving Bitcoin with centralized platforms to become a thing again. With Bitcoin being held with the ETF, it might make regulation to be talked about more and since it will be mostly people in high places that'll be more interested in the ETF, they'll want to have the new industry that they'll be investing into to be regulated to prevent them from losing and protect their investment. The institutional investors are all in for the regulations and they will be the ones making use of ETF while regular investors like you and me will be making use of exchanges to get our Bitcoin.

On the positive side, it'll bring more exposure and more money to the industry which will affect all areas of the market and influencing the price of Bitcoin to new ATH. More institutional money will be coming into the market and that is a positive thing. After the ETF platforms get attacked, it'll draw attention to non constodial wallet so it isn't a total lost for decentralization because it might just be what we needed to get the industry back on track because we have been diverting from the original Idea of Bitcoin recently with the introduction of ETF and losing the idea of Bitcoin as a currency..

[martinex]

Initially,it creates room for exposure,setting aside the risks hat it possess.Its a center of attraction for investors to gain and regain acknowledgement without any complications or involved risks.
People that use ETFs for investment transactions always end up successful,renders a moderate impacts to your transactions to always increase distribution and reduce unnecessary mismanagement.

exactly and initially it seems and indeed the presence of ETFs does have a good impact on the market but we never know what the real direction will be in the future will run decentralized, indeed BTC is up from a lot of demand but if the basic function is lost this will be misguided and the free-market will disappear and continue to be under Government supervision and The main problem is the most basic political problem but I believe the Transition The global monetary system will come sooner or later.