The ETFs Were Not Meant for 'You' & 'I' ..
I Do Not Know About You ..
.. but I am not rich.
You see folks, the ETFs were going to expose your little crypto-coin trading game, to the big money players. They would be using a great deal more resources, more and faster systems .. but instead of playing with their own money, they would have investor-class cash.
They do not care about the future of Bitcoin, or blockchain technology, all they saw was something that can be described as a commodity with a significant amount of related human activity surrounding it .. they caught a wiff of profit wafting around, and followed the trail .. which leads right toooo you!
What if the SEC Approved?
Well, it would have come with conditions don't you know? Like an end to anonymity and the start of transaction surveillance - it would have been a wedge by which government would end net neutrality once and for all ... Winkelvos' would be taxed, and so would Trader Joe, trying to turn 1 BTC into 1.2.
Previous Post ..
I previously posted that the ETF proposals should not succeed for other reasons .. namely, it would be entirely negligent of the US government to allow Americans to put money into something that could quite literally be killed tomorrow, by the Chinese government, but more importantly, Bitcoin is decrepit tech, that no one actually can or wants to use for anything .. let's be honest. It is a way to move value between cryptos, to send some relatively slow payments, and to move fiat in/out of the cryptosphere . Average day, "normals", want to do so much more .. like less than 1 buck instant transactions.
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I agree with some of what you are saying this was not for us regular people that is 100% true and there is no way that this would ever be accepted unless bitcoin basically changed itself to stop being bitcoin.
Also I agree bitcoin has its problems but personally I am still holding out hope for a solution.
Thought proving post :)
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Who on earth do you need a wall street product for bitcoin? Talk about lame. You would have made more money buying bitcoin a month ago.