More than the Goldman Sachs flip flop, all this gushing over ETFs was real a eye opener for me. Give me a break! They're paper markets where you trust institutions to back pieces of paper with a peer-to-peer currency! Just say that out loud. Have you ever heard of anything so nonsensical?

It raises some interesting questions about who Bitcoin investors are (at this point) and where their principles lie -- how easily they might be co-opted in the future. Many people are now so greedy for price gains that they're praying Wall Street involvement will pump the price, principles be damned. If they really understood Bitcoin, they wouldn't advocate for all the counterparty risk that paper Bitcoin markets will create.