ETF: do you want to own your bitcoin??

in bitcoin •  3 months ago

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Lately there has been a lot of rumours and speculation on the SEC approving/postponing/rejecting ETFs for BTC...

and every time one of these votes comes by there is a lot of buying and selling going on, massive price swings as well.

As you can see below the next one is in two days. Does this mean that we need to expect another uptick in the price and then another major drop when it gets rejected?

The thought behind an ETF is to build up a stock of Bitcoins and to use those as a tradable asset on traditional markets (kind of like stocks)
For me the disadvantage of this is that you as an investor are not in charge of the private keys. You are only owner of some part of the fund.
I can understand that there is a certain difficulty when it comes to owning and managing private keys especially on an institutional level. But that is why multisig wallets and other tools exist.
I know it is easier to speculate on BTC course without having to have exchange accounts and wallets and key and such but you still do not own what you are trading??

Is that worth the trade off??

In this I share the view of Andreas Antonopoulis and he explains himself in this video and does it a lot better then I ever could

So for me it is not the super crypto solution that will moon the price, hence I am not that exited about an ETF even though lots of others are. I also know that they will be approved, if not sooner, then later. I also know that this will affect the price and I am not above using this to short/long this into some more BTC for myself but personally I will not be buying into any ETF as I have to compromise to much for that.

I prefer to really own my crypto... how about you??

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I saw Andreas's video a few days ago and also thought, "Wow, what a bad idea that will eventually happen." The idea of those investment banks being able to own enough BTC voting power through their ETFs, with the actual investors having no voting power, is the most chilling thought. Them voting on a fork that favors them, or voting down any privacy forks, etc. are real risks.

I personally would never own pretend BTC, where someone else really holds my BTC. It's anathema to the very idea of BTC. But even if you and I wouldn't do it, it's coming.


yes those risks are indeed there so it is good that there will still be the core of people that do believe in the reasons BTC was created. Its good to be part of that

This is exactly what @dragosroua was mentioning today. Personally I am just waiting for the dates to see what kind of wild swings the prices will take after the rejection. Sure, if one of them goes through (CBOE seems like a big one) it might start a big fireworks attention. Even be enough to trigger a bull run, but then what?

I think people keep forgetting that crypto was not just about speculative profiteering (definitely not by 'Big Money'). Crypto will turn out to be a world changing phenomenon not because of bankers rolling in with their investments, but if the mass adoption actually occurs.

Whether ETF can do something for mass adoption or not is a speculation in itself.


very true that is why I am using this speculation to get more BTC for myself with trading. I might not agree with what is coming but it is helping me accumulate more bitcoin that will hopefully give me a better future

Basically derivatives, are they not? - trouble somewhere down the line methinks...


got that right, steer clear of em, get your own bitcoin and make those keys yours

This time ETF cannot be delayed any further under the regulator's rules. If approved this will surely open the doors for other ETF proposals


yes, this one on the 23rd will either have to be rejected or approved... I think rejected and then the decisive one is the VanEck one which will be postponed and then accepted...
but that is just my gut feeling, who knows what the SEC think

I prefer to own it too but for the overall ecosystem it may not be such a bad thing to have a buy-in options for normies.

BTW , corporations will play in the crypto system and will creative derivatives off of it , whether we like it or not.


ah well, I know we do not really have a say in the matter anyway...
I just know I will own my own BTC and not anyone else


just how the markets unfold...all players gonna play to their strengths..