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RE: Bitcoin ETF DENIED - Check Todays Price Action!
I don't see how that follows. Gold ETF's did not get ordinary people using gold again, because no ordinary person cares or talks about ETF's. It's purely a financial vehicle used by a small minority of people. Gold ETF's also increased the volatility of gold, as well as increased the rate of fractional reserve. It did however help the price rise as well. Aside from rising price, none of those things would be good for Bitcoin.
There are other, preferred ways for Bitcoin to gain adoption. For example if they fixed the whole transaction backlog thing...
Aside from rising price? Isn't that what you would want to hear as a holder of gold... or bitcoin?
I dunno, I'm in it for the money.
I wouldn't be happy as a holder of Bitcoin to see the price rise at the expense of the values of the system. A rising price isn't what would change the world. And I can say that from experience, because it happened in 2016.
Nobody likes gold because you have to use a middle man and have to keep that shit in a bank. Bitcoin just needs to get a domino effect going to gain more popularity. Im thinking the etf would just be one of the dominoes. Everyone knows what gold is where hardly anyone on earth has any idea what bitcoin is. If the government isn't trying to regulate bitcoin it means they do not see it as a threat yet. When they start panicking and try to regulate it it means we are winning the battle. With decentralized exchanges regulation is meaningless anyway. Getting setup with bitcoin is 100x easier than figuring out how to buy gold.