There has been so much FUD/FOMO lately about the bitcoin ETF proposals, debates on its merits and demerits, it makes me wonder. What is actually better for bitcoin, Is it some form of government regulations like ETF approvals or Gradual mass adoption of cryptos in general? What's your take?
The ETF isn't really a governmental regulation on bitcoin, but I'm not sure why we have to choose between either regulations or adoption either. Why not both? One will lead to the other anyway and regulations are coming whether you like it or not. The other option is to criminalize bitcoin or ban it outright. Do you want that? If bitcoin is going to be used as a currency or an asset then it is going to have regulations placed upon it eventually. This is good in that it is finally being acknowledged as legitimate asset or payment vehicle by the powers that be and is the path to acceptance. Whether bitcoin is regulated or not it also doesn't stop you from using it in any which way you want either. Don't want regulations? Then don't use services that require them. We obviously need adoption more than anything but the ETF is just one more route towards that and will certainly pump a heck of a lot more money into the cyrptosphere which is always a good thing.