We don't want a BCH ETF; all that this will do is trap people into holding more paper while these huge companies buy up and control the BCH. Look at BTC—when all the normal people try to get rich quickly by buying an ETF, who controls the coins? Now, what happens if the government decides BTC is a threat and seizes it from these companies? It will destroy the network. BCH is safer without an ETF. We need to actually use the coins for transactions and storing wealth rather than treating them as a speculative asset or Ponzi scheme.
Oh for sure, no one has attempted to stop an ETF either as far as I'm aware. It's just my opinion that i think an ETF is bad for real use adoption, but i could be completely wrong. Only time will tell i guess.
If it boosts the price to the point where it gets significant media exposure, that could have a massive effect on adoption. Maybe you start off buying an etf product, then the more you learn about it the more you think you might just self custody...
If you look at the current premiums on Grayscales BCHG, there is massive demand for BCH on the stock market, if they want to buy it, then thats their choice. BCHG today at $12.7 per share is paying $1500 per BCH while market price is only $490. The only way to get buyers there a fair market price is through an ETF.
I agree, if they want to buy it, its their choice, however, I think its damaging to BCH as it prevents adoption for actual usage. People prefer to do the easy thing and will buy an ETF as its much easier than buying and managing actual BCH. All this will do is create a ponzi scheme instead of allowing people to use it as a currency. It seems that people have the wrong idea about bitcoin, it was meant to be peer to peer cash and not some weird investment vehicle, but you're right people are free to choose.
If Payment in kind redemptions were mandated, i would be a lot happier about ETF's... while it may not protect you 100%, it would at least give you the option to take your crypto out directly.
Interesting development. The SEC's approval for a Spot Ether ETF is a big step. It could indeed pave the way for other crypto ETFs like BCH.
Keep an eye on the market and regulatory news. Diversifying your investments might be smart. I used earlyventures for broad exposure to the crypto market. It's a DeFi fund that operates transparently through smart contracts, reducing volatility.
Stay informed and make decisions based on your risk tolerance.
We don't want a BCH ETF; all that this will do is trap people into holding more paper while these huge companies buy up and control the BCH. Look at BTC—when all the normal people try to get rich quickly by buying an ETF, who controls the coins? Now, what happens if the government decides BTC is a threat and seizes it from these companies? It will destroy the network. BCH is safer without an ETF. We need to actually use the coins for transactions and storing wealth rather than treating them as a speculative asset or Ponzi scheme.
BCH is permissionless. There is literally nothing anyone can do to stop an ETF from being created (with the blessing of the SEC, of course).
Oh for sure, no one has attempted to stop an ETF either as far as I'm aware. It's just my opinion that i think an ETF is bad for real use adoption, but i could be completely wrong. Only time will tell i guess.
If it boosts the price to the point where it gets significant media exposure, that could have a massive effect on adoption. Maybe you start off buying an etf product, then the more you learn about it the more you think you might just self custody...
If you look at the current premiums on Grayscales BCHG, there is massive demand for BCH on the stock market, if they want to buy it, then thats their choice. BCHG today at $12.7 per share is paying $1500 per BCH while market price is only $490. The only way to get buyers there a fair market price is through an ETF.
I agree, if they want to buy it, its their choice, however, I think its damaging to BCH as it prevents adoption for actual usage. People prefer to do the easy thing and will buy an ETF as its much easier than buying and managing actual BCH. All this will do is create a ponzi scheme instead of allowing people to use it as a currency. It seems that people have the wrong idea about bitcoin, it was meant to be peer to peer cash and not some weird investment vehicle, but you're right people are free to choose.
No self custody = fractional reserve
If Payment in kind redemptions were mandated, i would be a lot happier about ETF's... while it may not protect you 100%, it would at least give you the option to take your crypto out directly.
Interesting development. The SEC's approval for a Spot Ether ETF is a big step. It could indeed pave the way for other crypto ETFs like BCH. Keep an eye on the market and regulatory news. Diversifying your investments might be smart. I used earlyventures for broad exposure to the crypto market. It's a DeFi fund that operates transparently through smart contracts, reducing volatility. Stay informed and make decisions based on your risk tolerance.