Quote from: NeuroticFish on August 09, 2018, 06:09:34 AM

Quote from: ICOselector2018z on August 09, 2018, 12:51:00 AM

The SEC decided to postpone a decision on the Bitcoin ETF for 45 days. The crypto community did not take this news well, with the market dipping almost 10% as a response. In this video I ask a very important question.. do we even need the Bitcoin ETF.

https://www.asiacryptotoday.com/bitcoin-etf-do-we-really-need-it/

We don't need the ETF per se, we need the signal it brings. We need it for big money to flow back in, we need it for future development and some think that we may even need it for stability (although this last part is incorrect).

The future development of what? The market? I believe we are fine, and it would be better if Wall Street stayed away from Bitcoin forever.

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However, the ETF idea was rushed, hence the disaster. We need better regulation, we need to rule out the exchanges where you can "do tricks" (maybe decentralized exchanges would be the answer? I don't know.) When the market becomes more stable, when the market doesn't react this bad to a news that many of us were expecting, then the ETF will be approved. We need to clean the garbage first, then we can hope we'll shine.

Shortly, we "need" the money the ETF brings, but we need to clean the mess first, by ourselves.

The "ETF" will not bring anything "of quality purpose" for the network. It would be better to set up more retail exchanges to make it easier for every person to buy and hold Bitcoin in my opinion. Adoption.