Quote from: LoyceV on February 26, 2017, 05:51:44 PM

Quote from: BillyBobZorton on February 26, 2017, 05:37:56 PM

I don't know if you understand what ETF really means. This is huge for the non-geek investor to hold bitcoin. It will be possible for anyone to go into their local banks, and tell the employee to but you some COIN shares, anyone can do this.

It's like buying "paper gold": if you can't hold the gold in your hand, you don't own it! The same with Bitcoin: if you don't own the private key, you don't own the Bitcoins.
Bitcoin isn't like any other share. What if the ETF managers mess up and "get hacked"? It happened to various exchanges. What makes you think this ETF will be any different? And why would you trust them with your money in the long term?

Don't get me wrong, I like the idea, but I have some reservations. I can also use the same argument in favor of the ETF: what if you lose your own private key? What if your wallet gets stolen? What if your own computer gets hacked and the hacker takes your Bitcoins? This has happened much more often than exchanges getting hacked, and a centralized ETF could protect your own Bitcoins when you fail to do so.

I can't respond to your $10k prediction, that's possible with or without ETF, just like $100 is possible. There is no upper and lower limit, only a combination of chances, greed and fear.

Yeah, that's kind of what I was thinking, but the gold price IS SET by the paper gold traders, not the physical retail gold buyers. I don't really understand what's going on with this ETF thing. I know what the term means, but I'm unsure how it's really going to affect bitcoin. If at all. We'll see. It's definitely interesting.