Quote from: ssmc2 on November 14, 2014, 05:30:09 PM

Quote from: jzcjca00 on November 14, 2014, 05:27:15 PM

Quote from: nakaone on November 14, 2014, 12:28:47 PM

maybe the wrong place to say it but I assume we see another magintude the second we have good way for common investors to invest in bitcoin.

I think most people here completely underestimate how much money some insitutions and private persons have.

The challenge will be how to let the masses know that it's a good idea for Average Joe to hold some bitcoins in an IRA, and (once the EFT exists) that it's easy to do. I don't expect to see the mainstream media tripping over themselves giving this kind of investment advice!

The thing that's great about the SecondMarket BIT is that there's a sales force actually talking to rich people, convincing them to invest in Bitcoin. Will the ETF have a sales force? I expect the Winklevi will get some media splash if and when COIN goes live, but that will only last for a few weeks. Once the price falls from the next peak, who's going to be pushing Bitcoin then? Hopefully, SecondMarket BIT will still be doing that!

A great sales tactic might be to say, remember when I suggested last year that you buy our Bitcoin fund, and you weren't interested? Well it's 10 times the price now, and I expect it to continue to do extremely well. You should listen to me this time!

Of course, for that to work, they have to be pushing it now! And the numbers suggest that they haven't been selling much lately.

I would imagine the "sales force" for the ETF will be every broker on the planet Wink

AGREED. The sales force for BTC is much greater than any one particular entity or one particular set of people who are affiliated with one entity. Surely, Second Market will do its part, but we also have major players like Coinbase and Bitpay and Circle and others who are engaged in ongoing evangelizing of bitcoin. Prices may be going up and down and up and down... but when they start going up again, that dynamic is going to cause quite a bit of evangelizing and actual proof of money-making potential (and value appreciation potential)... and even anticipation that the next bubble is NOT the last bubble which many of us who are already familiar with BTC have fairly decent inclinations to understand that BTC likely has at least a couple more 5-10x bubbles in it, and a $1trillion dollar market cap is NOT outlandish to anticipate given the many areas in which BTC will be able to serve to be able to have decent odds of achieving that kind of market cap within the next 3 to 10 years.. and if it is NOT BTC then there will be some similar crypto in which BTC holders would be able to transition into.