On Cointelegraph, in a recent opinion piece "Bitcoin ETFs: Even worse for crypto than central exchanges" the author argues that Bitcoin ETFs would be detrimental to the cryptocurrency. I however, respectfully disagree, as I fear that the writer seems to overlook some fundamental aspects of how Bitcoin works.
The article suggests that an influx of "paper bitcoins" through ETFs could suppress the price of Bitcoin.
If Bitcoin ETFs become the dominant way of investing in Bitcoin, it could very well lead to millions of paper Bitcoin flooding the market, suppressing the price of Bitcoin.
I for one think it's more important to remember that these so-called "paper bitcoins" are but derivatives, investment products linked to the price of Bitcoin, and not the actual cryptocurrency itself. The finite supply of 21 million bitcoins means that their value will ultimately be determined by the demand for and scarcity of the real bitcoins.
Furthermore, even if the price were temporarily suppressed by the presence of ETFs, it would likely benefit those who recognize the long-term value of holding actual bitcoins. It's worth noting that investing in an ETF is a choice, and individuals always have the option to purchase Bitcoin on exchanges and securely store it in a hardware wallet.
Rather than fearing these concerns or engaging in doomsday prophecies, I believe it is more prudent to embrace the opportunity presented by ETFs. Let those who prefer trading paper stocks or derivatives do so, while those who understand the underlying value of Bitcoin can acquire it at potentially discounted prices. This approach allows individuals to take advantage of any short-term market fluctuations caused by ETFs or similar instruments.
In conclusion, I encourage everyone not to dismiss the potential benefits and opportunities that ETFs might offer for Bitcoin. Stay informed, and take a personal responsibility for securing some real bitcoins. That's how we can keep engaged with Bitcoin on our own terms.
And to end the post, here's a photo of a Common goldeneye (Bucephala clangula):
Thank you for reading!
Nice to see your post! Keep posting everyday! Wanna see photos of your snake pet and doggies too!
Thanks for that! I do wish I had what it takes to post every day, but I'll try posting a bit more often than once or twice a year that's for sure.
How has it been here while I've been away?
I do hope you would post more than twice a week!
It’s been very quiet. Many old friends have disappeared. I always wondered whether some people had been badly injured by vaxx shots, i.e. suffering from cancer, etc. and death! I think lots of crypto would be lost as some owners died of heart attack or stroke , cancer and other neural diseases due to the vaxx shots.
Heh, I can certainly try, but I'm constantly out of ideas. I've felt for a long time, that my creativity has hit a roadblock, and that hasn't really subsided yet.
I am however glad to report that I don't yet personally know anyone who has been badly affected by either, the covid19 or the vaccines.
I'm also puzzled about the "unknown reasons" people have died over around the world, and about the claims that blood clots have been reported for vaccines, and the simultaneous claim that there is no apparent statistics about blood clots due to vaccines. It's very conflicting reporting, often even from the same sources.
Anyhow, I tend to trust the fact that from the start it was reported that among the reported comorbidities during the first deaths were obesity and vitamin D deficiencies. Maybe keeping yourself generally healthy works best against the virus itself.
Perhaps you should start a new project like two photos a day! One photo is too easy! People would join in; the upvote will give them the incentive to get outside!
For some statistics
https://www.openvaers.com/
I know several people who were dead and injured by vaxx shots.
Hi, welcome back! I wouldn't feel threatened by Bitcoin ETFs myself.
$WINE
I guess we have to wait and see what impact ETF will have on Bitcoin or not.
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