Bitcoin ETFs could mess with Bitcoin's whole vibe of being decentralized. People worry that as these ETFs get fancier, they might attract more rules and tie Bitcoin to the old-school financial system, risking its freewheeling independence. It's like, can Bitcoin stay true to its rebellious roots with all these big players getting involved? Tho some people think these ETFs could bring more people into the crypto game, making it more legit. But yeah, the debate rages on about how to keep the balance between going mainstream and staying true to Bitcoin's wild side.

But without centralized exchanges and ETFs, would bitcoin be as popular and successful as it is today? It is true that centralized exchanges, ETFs will gradually make bitcoin more centralized, but on the other hand, it will make bitcoin more popular and accessible to everyone. I believe that any of us who are new to the market need the support of centralized exchanges. So it can be said that everything has its pros and cons, so we cannot criticize those who support centralized exchanges and ETFs. They also have their reasons when they support those things.

I'm also a firm supporter of the idea of decentralization and it's true that if you don't own the keys then the coins you have on exchanges aren't yours. Those coins actually belong to exchanges and they can do anything with those coins without your consent. Things have been changed a lot in crypto market from the time of Satoshi, and that's why we should understand that such changes are helping Bitcoin to grow. I also feel that Bitcoin isn't as decentralized as it used to be and who knows in future we may have more centralized power on Bitcoin.

I know that ETF's aren't actual Bitcoin by any means but they are somehow helping Bitcoin to grow. You don't own a Bitcoin when you own an ETF but it's value will always be close to the value of Bitcoin. If Bitcoin goes up then the ETF holder will also make profits from that upward movement and if it goes down then ETF holder will also face losses. I think those ETF's are somehow win-win situation for every holder of Bitcoin. The investment companies behind those ETFs will spend a lot of money to advertise their ETFs and such advertisement will also indirectly promote Bitcoin to wide audience.

My own company is an "off chain solution" (I guess), but I never considered this to be what people consider "blockchain".

Indeed, the design process for Haypenny was, "let's make blockchain faster" and then that finally evolved into the entirely new exchange paradigm that is Haypenny's split/combine single-block approach without PKI and a fairly centralized infrastructure.

So sure, I guess blockchain will scale really well as long as you remove the blockchain part .

For me and from my understanding of what the ETF approval stands to represent, it is nothing more than the SEC giving a nod to the idea and existence of Bitcoin. It is a way the government and banks are biting hard on a large chunk of control of crypto currency mostly the Bitcoin market, incase it becomes of more value, where adoption rates and interest rates on investment suddenly makes it have more value than the dollar.

It is the interest of many to use BTC as more of an investment option, rather than as money to be spent for payments and transactions. Whatever be the case that has led to the approval of the ETF, it will at least place a target on money launderers and criminals who use BTC  for neferous activities. It would allow more countries make move to adopt and regulate crypto currency with more interest in future BTC implementations of investment benefits.

Great point!!  Buy bitcoin and keep quiet.

You could argue that when people feel a need for financial freedom outside the current paradigm of centralized banking they will adopt Bitcoin.  People are free to choose and currently they choose convenience over financial freedom.

Think about the concerted effort to paint bitcoin as a tool for criminals.  The media has the power to control the narrative and move public perception.

The Banks have the money to buy whatever media they need to change the way that people perceive things.

Maybe we just have to accept this is the world we live in?

This group should stand for Bitcoin's intended purpose. If we don't', who will?



  

this is the advantage in this market. you don't need to tell everyone that you are in this market. actually, it is better to be discreet with your crypto transactions rather than disclose what you are doing via your social media channels. you can't please everyone nor convince them about what you are doing, so better take this opportunity to enrich your assets. you are not obligated to teach or educate anyone.


the BTC ETF, surely gives a positive notion that crypto in general is a legit financial aspect. hence, this is still good for this market, particularly in attracting new investors in this market. and once they got acquianted, they will surely explore how to invest directly in these various cryptocurrencies. so the regulation actually may boost crypto adoption. do remember way back before that crypto was considered illegal and used only by fraudulent actors in the market.

Bitcoin ETF is already a PART of my overall bitcoin portfolio. I keep some in hot wallet, cold wallet and some on my exchange. To have all your bitcoin eggs in one place technology is just plane stupid.

Anywho, Bitcoin ETF is an EXCELLENT add to my Roth IRA! Why? Because what I put in there I won't pay taxes on when I withdraw for retirement in 13 ish years or so!

My 401k choices are very limited unfortunately, wish I could take advantage of that generous matching.

Just think of all the sovereign funds, pensions and corporations that can add BTC to their portfolio that keeps the boards happy. Think MicroStrategy.

Everyone talks about BTC is for everyone, okay, it's for everyone. stop whining.   

We are basically in uncharted waters for the first time.

When I first got to the forum, the overall sentiment was that we needed to get institutional investors to join the bandwagon and make move for massive adoption to take place.  But mow we got it, I'm increasingly seen more negative remarks about while ETF is bad for Bitcoin.

So far, it is my opinion that we are still on track. It's not all changes that are inherently bad. ETF is a necessary evil that has put us on the map to get massive adoption.

IMHO, when the big boys are playing in BTC, the US government is less likely to do stupid shit. Tail wags the dog. Just like Gensler got his whooped into approving ETF's.