Subject: FW: Van Eck Bitcoin ETF
From: Anonymous
Affiliation:

May 20, 2019

From: REDACTED for privacy 
Sent: Monday, May 20, 2019 10:05 PM 
To: OIG <OIG@SEC.GOV> 
Subject: Van Eck Bitcoin ETF 
 

Greetings,

I have been following closely and have been informed that the Securities Exchange Commission has delayed their ruling on the Van Eck Bitcoin ETF application. I highly respect their decision to extend the deadline, as well as their transparency with the public and bringing the concerns they have to light. The largest concern still remains "Manipulation", or bad actors in the market artificially inflating or crashing the price intentionally through large purchases or sales. This is usually for some sort of capital gain for that person. However Bitcoin is and always has been resistant to manipulation naturally through it's protocol and the laws that govern that protocol. One Bitcoin equals one Bitcoin as one U.S. Dollar equals one U.S. Dollar. The fractional reserve system we currently use with central banks trying to control inflation through interest rates from the Federal Reserve, has created a system that every one U.S. Dollar that is printed will continually loose value because there are constantly more being added into circulation devaluing each individual unit. So one dollar tomorrow is less then one today. This system is what allows for manipulation within the Bitcoin ecosystem. The U.S. Dollar, and the Federal Reserve are eventually what led to the Securities Exchange Commission being created, to protect against the manipulation within this system. Bitcoin is not part of this system. One Bitcoin always equals one Bitcoin because there will only ever be 21,000,000 mined into existence, more then 75% already in existence. Bitcoin in itself is an ETF and can not be stopped by the Securities Exchange Commission, but I don't believe that would be in the SEC's best interest anyways, if the SEC is really for stopping bad actors and manipulation within our markets I believe a Van Eck Bitcoin ETF approval will be a successful step in the right direction. I hope you take this email into consideration when making your decision before the deadline. I do have exposure to Bitcoin so some could say I have incentive for capital gains, which I do, of course, but Bitcoin "price" increase in it's exchange rate to fiat currencies is inevitable, Bitcoin's number of users has continued to grow since it's Genesis block and as that happens, naturally with a limited supply and as people sell fiat for Bitcoin price will be driven upward. The Securities Exchange Commission should take control within this emerging market and I believe this is the best way of them doing so. 



Best Regards,