July 11, 2018
I think a Bitcoin ETF is premature. The market is still dominated by fraud and scammers. Most of those who want the ETF see it as their last bastion of hope to recover from their massive losses incurred during the bubble.
The ideals surrounding a decentralized crypto currency are enticing, promising freedom from censorship and trestles transfer of value. But it is misguided and this particular implementation of a crypto is fraud with problems, and is certainly not decentralized as most of its holdings are with a small group of whales within asian countries, particularly China. They have profound influence on the value of the currency and are perpetually manipulating it for their own nefarious means.
I strongly disagree with a Bitcoin ETF. We need a stronger representative, with more fair distribution and decentralization, and one that does not require the tremendous energy consumption.
Ernie Varitimos