September 26, 2018
Recently, a bug is discovered in the Bitcoin code which is so severe that Emin Gn Sirer, an associate professor of computer science at Cornell University said "For less than $80,000 you could have brought down the entire network,
An asset which is valued at $120 Billion has bug which can make it a network worth of $80k sums it all for me. I am not even talking about the market manipulation, Tether and exchanges evil practices which we all know is rampant across most exchanges and SEC US government have no control on it.
Approving ETF for a network where one bug can crash the value to almost zero is a disaster in making. SEC should look at the the strength quality of underlying asset. No one is legally responsible if Bitcoin network crashes as all the software developers are freelancers and don't have any accountability.
Therefore, i like to request SEC not to approve ETF at this moment as the underlying asset is vulnerable to massive bugs, hacks, double spend attacks and other technical issues which hackers are trying to exploit every single day.
Reference :
https://www.independent.co.uk/life-style/gadgets-and-tech/news/bitcoin-collapse-blockchain-network-code-ddos-attack-cryptocurrency-double-spend-a8546911.html