This just shows it all. People are not willing to do ONE, literally ONE second of research before they take action. And people wonder why the market is immature. Ironically the problem with crypto is not NOT getting an ETF, it's the retarded inexperienced people in this space.
If people can't even do a quick google search and find out that even though the Winklevosses got rejected last year, they got rejected a second time this year - how do you expect these morons to do some proper research and due diligence on actual coins, wallets and keeping their funds safe? No. The technical level and intricate manoeuvring is too high for most people at this point. Fuck ETF's. We've had ETF's in Scandinavian for 3 years all ready, and it wasn't that important to adoption. Why are people so obsessed with ETF's? Just relax and let the market mature.
Totaly agree with you. Immature market participants don't even know what is an ETF. If they did they would know how trivial this is.
Agreed
Whats an ETF?!
It's an exchange traded fund. For Bitcoin or Ethereum that means it will track the price. So people who are not savy enough to buy bitcoin or ethereum will buy the Bitcoin ETF on a regular exchange and the fund will have collateral.
In the future there will be Crypto etf's as well. They will have different exposures and different risk levels. So you can buy a crypto etf "stock" that exposes you to lets say bitcoin, ethereum, eos, neo, litecoin etc..and it will be considered a low risk fund. Or you could buy a higher risk etf with shitcoins that give your higher risk/reward.
This usually drives adoption. Thats why there was disseapointment when it wasnt approved. But personally I never thought it would happen right now. I think a lot of poeple panic sold now. The Winklevoss ETF was not even the "real" etf people are anticipating the outcome of..thats in September. So some fools just sold cheap. IF ETF is approved we can see some higher prices, but like I said..weve had Bitcoin ETF in stockholm for years, and it hasnt really driven adoption.
Sounds terrible way of getting involved with crypto! And it sounds (just from what you said) like insurance - A complete manipulation of human emotions hahahahaha! Ill stick to just swaping pieces of paper for crypto and steer clear of the crazy ideas hahahahha
Thanks for an awesome answer appreciated :)
It makes things more secure for investors
Ah yes I realize it seems that you will pay more for the crypto but have some kind of insurance fro that higher price.. I often think about looking for steem investors for 10% Annual returns, any invester would love the sound of that, and that leaves a generous 5% at least for the middleman!
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Well like many times people over react to the news, you’re right be patient and let the market mature
What's the point of EFT when you can just own the coin? Get around the transfer fees? @ironshield
Hey bud👍
I’ve bedm locked out of this account for months. I just got back in after finding a copy of my password my girlfriend thought she deleted! Just wanted to check in with ya as I don’t think I found you when I temporarily used a new account the last few months
Btw
ETF’s are garbage for bitcoin (most are paper not real bitcoin held)
All future pending ones should be denied! It’s just another way to manipulate prices on us real holders. You get it👍
Sadly many don’t
I don't know how it worked in NOR, but I remember the days when people kept refusing to use their cell phones because it was "some new high tech device".
Some older novels from the 50's are telling about the surprised man, the Head of his House, the Elderly who was shocked that schoolchildren know how to wind the alarm clock.
And we had a very high percentage of illiterate people during the interwar period.
Today, all of this sounds weird, but today people don't understand crypto. Nothing has changed...