The problem is that it encourages people to treat it as another form of equity rather than peer to peer cash.
Didn't think about it this way.
While the market will factor it as a negative, I believe it could spell the end of Bitcoin as a P2P payment protocol.
Well you make sense given the 21 million limited total supply of BTC. Would you still maintain the same stance if we are discussing, say, XLM ETF, which has a total supply of more than 100 billion(including inflation)?
Definitely. I think the point of decentralized currency and token is for us to be our own custodians.
An ETF renders it merely an investment where as it should be treated as both an investment and a currency.
XLM, ZIL, XRP, etc; all of these high supply coins are designed as payment protocols so there are enough to have a working economy. By pushing these into ETF's, trusts, and third party custodians, we are destroying the very purpose for which they are created.
Of course, this is my opinion and it is somewhat purist. I'm sure many people would not agree to the points I've put forth @devann
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