Jul. 21, 2018
Dear SEC,
My name is Tyler Swob.
I am emailing you to support CBOE's application for a Bitcoin ETF.
I believe it is very important to differentiate between Bitcoin and the distributed ledger technology (DLT) on which Bitcoin is based on. The technology of DLT opens up a new ecosystem of unprecedented business applications. The transfer of value that Bitcoin specializes in is only the surface of what DLT offers.
DLT effectively skimps the middleman while ensuring absolute data and value integrity - a fundamentally revolutionary but subtle paradigm shift. What this means is that lawyers could evolve into mere smart contracts, the internet-of-thing economy could finally find a way to effectively transfer value, voting in election would be 100% tamperproof, and phone users can effectively sell their data to each other to name very few examples out of many.
We are on the brink of a whole new paradigm of the internet. Those who claim Bitcoin has no underlying value to back it up misses the point of DLT. Whether Bitcoin has an underlying value or not is not the point; the point is that Bitcoin carries the torch of DLT at the moment whether we like it or not.
To decline a Bitcoin ETF would be to futilely delay the inevitable - a mass adoption of DLT applications in the next decade.
To accept a Bitcoin ETF would streamline, legitimize, and encourage the growth of the revolutionary DLT technology and it would ensure USA stays ahead of the curve technologically compared to other countries.
Thank you for your consideration.
Best,
Tyler Swob