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RE: How the SEC ETF decision is a great example of how bitcoin creates value

in #bitcoin6 years ago

Do we need an ETF? No, not anymore with the other on-ramps to crypto that wallstreet is bringing. Could it help? Yes!

As far as education goes.. it's not absolutely necessary. This is because in the regular stock market people buy and sell purely - 1. For profit. 2. Based on market fundamentals and the specific financial reports the company they're investing in publishes.

When Microsoft, Cisco, Intel, Oracle, etc come up with a new esoteric technology that works in the background for computers, do any of the investors actually care? Do they understand it? No and no. From the richest guy to the average Joe, people in pretty much all markets only sometimes understand the value behind what a company does. There are dozens of large cap companies that never sell a consumer item ever and the investor might have never seen a physical location from that business, but the company has billions of inflated value just because people fomo into it. This situation is seen as normal and healthy by 90% of the people in the markets. If the stock market can get away with this then so too can crypto.

It's all about the money. If there is money to be made on speculative items then people will come in so long as there are businesses using tokens for almost anything. We just have to weed out dead coins with college dorm room teams because those are trash. Fill CMC with coins backed by registered businesses that have fancy offices and we're in business.

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