Quote from: BitHodler on September 04, 2018, 09:00:50 PM

Quote from: Sutters Mill on September 04, 2018, 02:11:39 PM

Don't get me wrong, I think ETFs are potentially huge for bitcoin and a big step in the right direction for mainstream acceptance and will surely open up doors to more investors and the general public which will obviously all come with financial benefit due to increased demand, but we certainly shouldn't pin all our hopes and dreams on them. What if they never actually get the go ahead? Maybe they will and maybe they won't, but they're certainty not the entire future of bitcoin that's for sure.

An ETF approval is only a matter of time, really. The only point I don't agree with, is the fact that most people blindly assume that an ETF will have a significant impact on the market.

I don't see anyone here ever point out that there might not be much demand for an ETF at all. And then we don't know if the ETF that will be approved will be backed by Bitcoin or not, which is quite an important factor too.

If it's not backed by Bitcoin at all, there will be next to no actual effect on the spot market, even if the demand is significant enough to consider it a successful ETF launch. That's definitely something to keep in mind.

I don't want to sound all that negative, but there is no point to hype up something with no proven track record either. I want Bitcoin to succeed based on legit user demand, and we can definitely work towards that goal slowly but surely.

I'm not so sure it's only a matter of time. They might just think it is too risky and volatile to allow. Why haven't they accepted one already as there's been several requests and all have been denied so far. I hope this isn't the case and one will be accepted eventually but I wouldn't put all my money on it.

I also disagree with you in that I do think it will have a significant effect on bitcoin. We already saw a drop in value when a couple of them were denied before, and I think one finally being given the green light will be very exciting for people and cause increased demand and a price spike. It's probably not going to go to the moon again because of it and I don't think we'll see a new all time high or anything because of it but I think it will be very significant.