February 8, 2022
hello dear under funded regulatory body,
we salute you for your work,
english is not my first language, i'm not a US citizen so please bear with me,
the price of bitcoin is heavily manipulated,
-no bitcoin etf before a tether audit (70% of the crypto volume is tether) and regulation of all crypto exchanges (since the price will be the average of bitcoin on all these garbage entities not to mention the volume on DEFI protocols which dwoarfs the volume on the exchanges)
-no bitcoin etf before a pokemon card etf (the underlying characteristics are the same with bitcoin and the people involved seem more trustworthy)
-no bitcoin etf before the end or regulation of stablecoins (there are no stablecoins in pokemon, again better)
maybe think of bitcoin as a micro cap cash transmitting entity multi listed on un regulated (not to say outright criminal) exchanges dispersed around the world, with 2% of the holders, who bought early, controlling the lion share of the volume,
kyc is near impossible on all bitcoin transactions,
bitcoin is also the first crypto,
crypto being apparently an evolving technology, some \"coins\" have improved on the problems inherent to bitcoin, why not an etf with the new better coin?
the early holders are desperate for new liquidity to get out (the ethereum foundation have sold at each all time high)
the crypto space is incredibly intertwined, news outlets are created by exchanges(since volatility is key to their business (the more volatility the more people trade)
the digital currency group is the owner of everything crypto, it's not the crypto world it's the digital currency group world)
the true volume in crypto is maybe only 20% of the volume reported, wash trades, scams, exaggerations and false statements are rife
the exchanges take also custody of the bitcoin, and are not insured, or face any legal repercussion, in case of a \"hack\"
can we define \"pump talk\" (saying that bitcoin will replace the dollar and all the marketing points of bitcoin) as an effort made by a third party to prump up the bitcoin price, so that bitcoin would be regulated as a security
bitcoin was created based on a limited, false, view of monetary policy, or for dissidents to transmit money, or for the unbanked (would somebody think of the unbanked?)
or to drive down the fees on remittances,
(i use \"or\" a lot, because the marketing points keep changing and it's hard to keep up)
as of today bitcoin doesn't do any of that,
all of this in a near near future (ethereum is still considered in its beta version)
the only industry that's already profiting from this technology is the money laundering industry...
so i say lets wait for this near future (what's the hurry?) and create bitcoin etf, or integrate it any of it in the financial industry
maybe the fed will raise interest rates and all of this will go to dust before...
keep up the good work and to the moon i guess