Sep. 21, 2018
To the Securities and Exchange Commission: In regards to the proposed Bitcoin ETF by SolidX/VanEck, I would like to offer two opinions. First is the general community opinion from my constant research and perusal on forums. A Bitcoin ETF is to the vast majority of people a bull signal for turning a huge profit in trades. I don't mind that, since long term, everyone will benefit, and I daresay that by approving the proposal you will help bring legitimacy and much needed oversight into this digital frontier. The second opinion is my own entirely: As an American born abroad who returned just in time for the collapse of the housing market in 2008, I understand too well what it is like when printed money bursts a market bubble. If American wealth was built on a combination of USD and Bitcoin, I think the average person would have access to a hedge against inflation that they have never had. I encourage the SEC to strongly consider the poorer American's plight in this decision and in any decisions going forward as it relates to Security Tokens and the potential they have to make the stock market even more accessible to the average person. I urge you to treat Bitcoin, Ethereum, and Ripple as separate and distinct things. Ethereum has grown into a shape like a ponzi scheme, which many legitimate projects being built on it that have suffered unfairly in the Ethereum price collapse. Consider Cardano the future of Smart contracts and a second candidate for an ETF before even dreaming of Ethereum. Cardano has done everything to legitimize itself in the eyes of governments and investors alike. Research it and see its potential. Should you choose to approve the CBOE Bitcoin ETF, beware of poorly thrown together projects trying to ride Bitcoin's cost tails. There is little space to expand on this, but I will list the ones I suspect most of illegitimacy or over-hyping. EOS- 9 wallets own most of the tokens in existence, so Ponzi Bitcoin Cash, or any bitcoin fork Any Bitcoin "killer" Ripple (fully centralized, inflatable, and violates the definition of a blockchain, but powerful in the it's current hands. Use extreme caution) I hope my research points the good people in the SEC in the right direction. Best regards, Christopher Craven