Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: hiramehar on August 28, 2018, 09:18:53 PM
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There has been series of arguments, with different parties, trying to convince the SEC to approve bitcoin ETF (exchange traded fund), which would basically allow bitcoin to be traded as a stock.
This would off course increase the adoption of cryptocurrencies, as it will attract more players, who are wary of the market volatility.
It doesn't do much in terms of legitimizing bitcoin as a global currency, capable of rivalling the conventional currencies. And has little long-term effect.
And sectors a question, why is approval needed, when bitcoin is a decentralized platform?
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I don' t really view bitcoin as a currency outside of being a liaison between cash and altcoin markets and a digital commodity like gold... ETF would add some level of legitimizing bitcoin as an investment but I agree it wouldn't move us any closer to a global currency.. of course my opinion is bitcoin is too slow and expensive to be used as day to day cash transactions anyways, and doesn't need this level of adoption to reach 6 figures.
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There has been series of arguments, with different parties, trying to convince the SEC to approve bitcoin ETF (exchange traded fund), which would basically allow bitcoin to be traded as a stock.
This would off course increase the adoption of cryptocurrencies, as it will attract more players, who are wary of the market volatility.
It doesn't do much in terms of legitimizing bitcoin as a global currency, capable of rivalling the conventional currencies. And has little long-term effect.
And sectors a question, why is approval needed, when bitcoin is a decentralized platform?
Interesting, so they kind of want to turn into gold type thing. Haven't heard of this, will have to read more about.