Quote from: mvdheuvel1983 on Today at 09:55:29 AM

Quote from: _act_ on Today at 07:22:32 AM

About the second question. Trading the ETF directly will not have effect on bitcoin price, what will have effect on bitcoin price is if more people are buying the ETF shares and then the company that are providing it are buying more bitcoin when there are needs for it as more people are demanding for the ETF. As the company are buying and holding more bitcoin, it will make bitcoin scarce and the demand also will make the price of bitcoin to increase.

I expect that they will force market makers and other institutional participants to buy huge amounts of real BTC in order to back new shares of these ETFs. This buy is going to pump the price of Bitcoin into the hundreds of thousands I believe. I advice everyone if you can, don't buy a spot Bitcoin ETF don't buy the Black Rock one and don't buy any of them. Instead earn the real BTC, hold it in cold Storage or a software wallet yourself that way you can both benefit from the price pump and also not get rugged eventually along with all the other Bitcoin ETF holders.

I agree with not holding the ETF as it is not true ownership of BTC. It will be inevitable that new investors or investors who arr used to the share market, will get the ETF instead of learning the steps to use self custody solutions.

Quote from: strunberg on Today at 10:16:04 AM

Quote from: Blitzboy on Today at 08:37:47 AM

ETFs are a milestone, but they dont prove Bitcoin's strength. They're one of several ways to spread Bitcoin. Like adding additional taste to a rich dish, its interesting but not necessary. Bitcoin's charm is its independence.

I don't really understand Bitcoin ETFs but from what I have learned, Bitcoin ETFs allow asset management companies to buy Bitcoins and they will provide a contract that proves Bitcoin ownership. To me it sounds like buying and selling shares. One of the advantages offered is that many of the world's largest asset management companies will join. And will open up opportunities to include many other large investors in the future.

Quote from: hugeblack on Today at 08:20:44 AM

The disadvantage of ETFs is that it is easy for whales to empty the price pumps so that we will not see a crazy increase like we did in 2017.

I think so too. This means that if the Bitcoin ETF is held by several asset management companies, then of course they will try to maintain Bitcoin price stability. And there will be a possibility that the contract value they provide will not be the same as the amount of Bitcoin they have. In my opinion, Companies like Blackrock will control the price of Bitcoin to maintain their stability and profits. The price of Bitcoin will pass hundreds of thousands of dollars and it is possible that the price will not go down and will not go up so there will be no more price pumps in the future.

The interesting contrast between both of your opinions, one says the price will pump the other says the price will be stable. Both of these opinions make sense to me. Another layer of uncertainty added to Bitcoin price speculation where only time can tell...

I think the one of the problems is what I've highlighted in the quoted post. This needs to be fixed.