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Bitcoin Q&A: Why I’m against ETFs

What is going on with the Bitcoin exchange-traded budget (ETFs)? Why may they be a foul concept for decentralisation, consensus, or even the cost? A thousand million-dollar “now not your keys, now not your bitcoin” alternative for non-technical institutional traders.

These questions are from the July per thirty days Patreon consultation, which happened on July 28th 2018 respectively. If you wish to have early-access to talks and a possibility to take part within the per thirty days reside Q&As with Andreas, turn into a patron: https://www.patreon.com/aantonop

Measuring Success: Price or Principle – https://youtu.be/mPMsbgWl9p4
What is Consensus: Rules Without Rulers – https://youtu.be/2tqo7PX5Pyc
Decentralised Truth – https://youtu.be/XCVaabu3J04
Decentralised Globalisation – https://youtu.be/QoiR4aNbTOw
Investing in Education as a substitute of Speculation – https://youtu.be/6uXAbJQoZlE
Beyond Price: Bitcoin’s Impact at the Future – https://youtu.be/rvwVbRQ5Ysc
Where are the exchange-traded budget? – https://youtu.be/m3EFyGb104g
Wallet design and mass adoption – https://youtu.be/WbZX6BDZJHc
Mass adoption and peer-to-peer trade – https://youtu.be/n9qIAEFS-Qs
Regulation and the financial institution boycott – https://youtu.be/8ypH69Cb1l0
Exchanges, id, and surveillance – https://youtu.be/TVFy8xXfxAA
Decentralised exchanges and counterparty chance – https://youtu.be/hi_jaw0dT9M
Lightning Network scaling – https://youtu.be/4KiWkwo48k0
Layered scaling and privateness – https://youtu.be/4w-bjUhpf_Q
Scaling advanced methods – https://youtu.be/dm9m1oQr6Ks
Scaling, consider, and trade-offs – https://youtu.be/vCxmHwqyJWU
Scaling is a shifting goal – https://youtu.be/pT9kJq_Ogrk
Price volatility and retailer of worth – https://youtu.be/wzzZT95ijTo
Coin variety and privateness – https://youtu.be/3Ck683CQGAQ
Why I earn bitcoin as a substitute of shopping for – https://youtu.be/Ci7TyD8jETY
Job alternatives with cryptocurrencies – https://youtu.be/89_p4pDlQtI
Inspiring cryptocurrency initiatives – https://youtu.be/WW8norCKUbE
From barter to summary cash – https://youtu.be/KYsppZoHguQ
Crossing the chasm of theoretical vs. actual want – https://youtu.be/yIR0OBEAaUE
Remittances and smuggling in Venezuela – https://youtu.be/RRXecXfWARw
How lengthy till mainstream adoption? – https://youtu.be/y3cKBDBabtA
What is the largest adoption hurdle? – https://youtu.be/jHgyHF3F2TI
Scaling methods and adoption – https://youtu.be/dML1a_Ek9Kw
Bitcoin as on a regular basis forex – https://youtu.be/xYvvSV4mjH0
Hyperbitcoinization – https://youtu.be/AB5MU5fXKfo

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has turn into one of the well known and revered figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the writer of 2 books: “Mastering Bitcoin,” revealed by way of O’Reilly Media and regarded as the most productive technical information to bitcoin; “The Internet of Money,” a guide about why bitcoin issues.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2d Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

Subscribe to the channel to be informed extra about Bitcoin & open blockchains!

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Outro Graphics: Phneep (http://www.phneep.com/)
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  1. shut up…i only need my money back and that's only possible if ETF is approved…once i get my money back then i am out…dance with ur ETF or BTC..i dont care

  2. Its just another way to manipulate the market , FU#K ETFs.

  3. You're the ONE

  4. Yes BTC ETF is very bad because of more manipulation by the Elite just like Comex has decimated Gold and Silver EFTs with paper contracts so the prices drop lower

  5. One step forward, two steps back. Progress? I guess it depends on one's definition of progress. Either way, excellent, well thought out, informative explanation. Thanks

  6. very well said ! excellent insight !

  7. Can you define markets where it's traded as an ETF vs more broadly? How does manipulating the price in the ETF manipulate the price in the world wide market?

  8. Does creating an ETF make something like BTC more of a commodity?

  9. I agree 100% that ETF's are not good. I have been saying since early last year. My concern is the whales being able to finally manipulate D.C.'s. New paradigm of currency, old paradigm rules. Makes for bubbles and corruption

  10. Dont futures like BitMEX fit in this financial discussion as well ?

  11. Am I the only bewildered person? Am I the only thinker? Am I the only sane person? Here's what has me going:

    The idea of BTC is that it will become money. History and human ingenuity gave us alphabets, some large, some small, each suited to a language or language group. Nobody controls them, but we all use them. There's no Central Alphabet Authority.

    Mathematicians and technologists gave us BTC. Hooray! Now the whole world can use this new thing that has its own life, needs no respirator (central bank), so governments can put their resources into more pressing needs. I totally love it,…

    …and get it. What I don't get is why people view it as if it were a corporation that pays interest or dividends, or has a rosy future. An ETF is a nice way to own dividend payers in a whole economic sector without having to be a stock picker. Great idea. I use 'em. In this way, even if a currency goes down against other world currencies, I'd still own "a piece of so many factories." Whether the factory pays a dividend in a few Euros or many Lira, the purchasing power of that payout should be, more or less, commensurate with the popularity of the factory's PRODUCT and future prospects. The proportions will be the same, regardless of the name of the currency (in a classroom non-friction model.) But exchanging Lira and Euros back and forth is just some kind of arbitrage (there's that friction), but there's no INVESTMENT. Ditto for BTC, except for the investment of being prepared for the future — which is a good idea.

    Look at these sentences:

    "What is his name?" It might be Joe or Fred or Nick. Fine.
    "What is he called?" That's essentially the same as the other sentence. Joe, or Fred or Nick.
    "What is his name called?" In a boolean world, that's nonsense. (Some languages might do that, but only as a grammar convention.) We don't call people's names anything. The name is the pointer to the actual person. It has no name. "What is his name called?" is like what users of the calculus would call a derivative, or differential.

    We don't ask how long a meter is. It's a meter. You could compare it to something else, but the meter is simply a standard and it won't ever represent any more centimeters or yards, or feet or inches than it does today.

    I'm not "investing" in yards or meters. I'll pay the same for a meter of cloth as I'll pay for 39 inches of the same cloth. The idea of an ETF of every measure is nonsense. ("You're covered with us. We buy every unit from angstroms to light years, and keep them in our secure vault.") At the very best, I might gamble what unit people will invoke upon being asked "How long is it?" I suppose a bookie could set up a game where you bet on what percentage of respondents will answer the question in yards. It would be "a wise investment" or a "good hunch" to bet on "yards" if the sampling is in the US, even though in the big picture, that would be considered a contrarian move. Is THAT what this whole shenanigan is about?

    It is my belief that, despite custom, it's smoother for everyone to use the metric system. Acres, rods, and hectares are just too clumsy. (Outside of international commerce, my own beloved and "advanced" country, the US, still measures in lbs and miles. Go figure.) Government money is also too clumsy. It has been working okay for an admirably long time, but the newer system is, all around, better. I think we'll eventually opt for the new system, so I buy BTC regularly, just waiting for others to see clearly. But, and please pardon my rudeness, WHAT THE HELL IS AN ETF OF THIS STUFF?

    I feel like I'm in a world of animals that eat their own tails. It's not a good sign to think I'm the only sane person in an insane world, but I can draw no other conclusion. Am I alone in this?


  12. Bartek Brzozowski

    "lead to price manipulation ?" hello wake up , we got price manipulation every single hr/day !

  13. Of course an ETF may cause an enormous interest and legitimize bitcoin to many who otherwise wouldn’t have bothered learning all its technical aspects. Later these ETF share owners will learn that they don’t need nor want a middleman to hold their bitcoin. Maybe this is the first step in the general public’s education.

  14. Hi andreas if etf buyer sell his etf is fund managers also sell that part of bitcoin?

  15. Well spoken as always aantonop!

  16. i am just so happy to have found this channel. thank you and pls never stop 🙂

  17. Can you talk about the positive effects or negative effects if we combine BLOCKCHAIN and AI TECHNOLOGY?

  18. Michiel Van Kets

    if the ETF is not just holding bitcoin, but also trading them for fiat; it would stabilize volatility, which would be a good thing

    but I have no idea if the ETF is indeed going to trade bitcoins or if it's just holding them

  19. We already have Segwit bitcoin and non-segwit bitcoin. So whats the big deal?

  20. If ETFs need institutional custodian services, then the September decision of the SEC should be negative. There are simply to few, if at all looking at the offerings, on the market at the moment. We're still waiting and talking with the normal such providers and they are not technically ready. Not only that, but the risk is still too high for them and the insurance companies to insure the assets for the custodians and depositories to feel comfortable. Indeed – the service would come to scale and speed, but not ATM. Therefore should that hint me that permission of ETFs is still further ahead than September?

  21. TeoriasyConspiraciones

    It looks like we are going in the exact opposite direction that Satoshi intended us to go… begging for institutional acceptance, and giving power to the same old few instead to give power back to the people.

  22. GreatestStory EverTold

    the main reason why people hate Bitcoin is the same reason why people hated Internet back at mid 90s. You cannot like something you don't understand. That keeps many people out of it. I believe that ETF will attract people since no crypto mumbo jumbo (wallets, keys , security…) is in play to confuse them. ETF is a good short term thing…its a training tool for adoption I like it as I dislike it

  23. Sean M. Holt, MBA

    Nailed it…as always.

  24. David J. Kleinsasser

    ETFs are like a leech attached to the Bitcoin body…

  25. Crypto Conversation

    ETF is way to TAme bitcoin's Growth and adoption. The Current financial institutions are Bubble the way the operate but bitcoin is Not.

  26. key perspective to frame this is this: it’s not that few people fail to consider it – majority (realistically at this point in time) are short term speculators greed NOT long term hodlers. so it’s not in their best interest and subsequently purview. which means it’s actually not a lack of consideration but deliberate. misalignment of vision, consequently motivation and intentions ultimately.

  27. Vinicius Targeryen

    Crypto is a fraud inflated with fake money (tether), i won't be touching crypto until tether collapses

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