Jul. 23, 2018
Hello
And thanks for the opportunity to present my opinion/support on Bitcoin ETF application:
Bitcoin is store of value and can be transmitted and stored fast without the need of an intermediary.
Bitcoin's Ledger is public, transparent, immutable so the criticism for hidden illegal activites doesn't stand up.
United States had an experience with silkroad and was able to track the transactions, recover the funds and organize an auction to sell all the bitcoin seized , much easier than if the same activities would have been concluded in cash.
Bitcoin is not a replacement for goverment issued currency but a way people can store value (think gold) so it can be protected by:
Central issuer manipulation (venezuela)
Coruption and bad economic decisions that lower the value of assets (Somalia)
Abusive seizure of funds (Brasil, China, one bank bankruptcy)
Bitcoin is about the freedom someone has to store and manage their assets, with no intervention from outside, on a public, self maintained ledger, immutable and transparent.
So that's why I present you my humble opinion to support the Bitcoin ETF application.
Thanks for you time
Best regards,
DB