Quote from: Biodom on May 26, 2014, 08:20:21 PM

Quote from: BlockStreet on May 26, 2014, 08:12:09 PM

Quote from: BittBurger on May 26, 2014, 01:47:55 PM

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Q4 is the earliest possibility of a ETF right? And when do projects finish in time? That's right never, so I'm assuming 2015.

I read that its roughly a year for ETF approval and they applied when ... Q4 2013 right?

-B-

I think so, but as mentioned earlier, when do these ever go smoothly. Q4 2014 or Q1 2015. ETF will make it easier for large institutions to invest, but there needs to be transparency and accountability in the system.

Take the Willie report for example. http://willyreport.wordpress.com/ Assuming this is accurate, this would mean a massive distortion of the marketplace and violation of users trusts (and stealing their money). This undermines the very core concept of bitcoin, which is that you can trust the other party without knowing who they are.

The crooks need to be driven OUT of the marketplace. Exchanges must adopt transparent systems that will ensure the consumer that they are 100% legitimate. Ideally these should not be based on "a great team of trusted people who are running the exchange", but instead programmed into the exchange, and can be tracked/viewed/audited by anyone at anytime.

If these protections are not put in place, look forward to lots of regulation.

(This won't prevent outside forces from manipulating the systems, but it's a start.)

Sorry, but this is a bit naive. If there is a market, someone can write a program to trade in this market. Are you going to make sure that there is a single human decision on any trade. It is not possible to execute a million share buy/sell without using some sort of a program, unless you are a french banker. Grin

Biodome, I'm not suggesting that someone can't manipulate the markets, nor that people can't run bots. This will happen. It just shouldn't be the exchange itself that is manipulating the market, as is suggested in the Willie report.