Mar. 21, 2019
I disapprove any Bitcoin ETF, For many reasons. What are corporations going to do, by a Bitcoin ETF and exchange it for a Litecoin ETF which would have super high fees and would be centralizing it (destroys crypto), Not to mention you cannot trade ETF's on the weekends and you cannot trade it instantly. Crypto-currency Is a piece of electricity, You cannot control it, because if you let it thrive and do nothing inevitably it will dismantle the dollar in every aspect with no sanctions and eventually terrorists will unfortunately utilize it, If you control it with regulations that will literally do nothing and the same thing will happen because of privacy coins and decentralized exchanges (only option would be to regulate the internet itself in that case) and if you completely ban it there will be not very much outcry, because the blackmarket would grow so insane, crazy big, too big to patrol, plus you cannot stop millions from using tor, mining privacy coins powered by solar panels connected to the internet. THE ONLY OPTION you have, if your smart, is to stop the 60% taxes on crypto, make the actual US Dollar available Via blockchain, stop all sanctions because sanctions actually help those country develop their own system plus makes us have way more inflation and actually simply less control in the long term,. Have the blockchain protected and mined only by USA itself using geothermal, than at that point the USA could literally shut down the bond pits and withdrawal inflation by destroying the dollars it mined with geothermal, Which is way better than paying people by raising interest rates so that way we have to pay more money to get more debt which we have to print more money, thus destroying the economy and actually jeopardizing national security and civil order. Also have a "little" taxes on other cryptos like 7% tops (so that way you actually get money instead of everyone who gets rich just leaving and you get nothing) and no taxes on the USA blockchain dollar. Nevertheless, forget about the Bitcoin ETF's, it Is a big mistake. There needs to be a 24/7 crypto market available TO ALL COUNTRY'S that is regulated by UN and that has small fees that is paid to all countrys, backed by the USA blockchain dollar and have 5-7% tax, and call it a day. If you do not listen, other country's will simply prosper that would not have prospered only because you did not listen. Thank you for your time.