Re <<Money seems to make people stupid>>
- Yes
- A lot more stupid people on the way
- but the liquidity of BTC (never mind the minor coins) is suspect, especially when enough large players are leveraged, and governments might panic and do the wrong thing, which happens often enough
- sharks coming into the pool already full of piranhas even though they do not occupied the same eco system of this universe bloomberg.com "Goldman Offers New Bitcoin Derivatives to Wall Street Investors"
- DOGE is so funny, whereas Bitcoin very serious :0) Yeah, I am joshing.
- Bitcoin might be closer to gold than to cash, who can know the right answer, whereas
- Ethereum could be closer to Microsoft Office suite + Quicken, than to money, but
- all three can be transmitted over the net essentially instantly
- I did a bitgold transfer from one to another account of mine and the confirmation across exchange platforms took ~20 min
- I traded DOGE for an Audi Q3 Quattro w/ all the gadgets, so that I can ferry grocery from shops within 5 kilometres in air-conditioned comfort
- I have not and cannot think of a use-case for Ethereum that might affect my life right now, as in any imperative sense, but have lots of ideas for smart contracts that can be based on Ethereum-class of layer 1s. Perhaps that is the use-case for Ethereum and its competitors, to fire the imagination and support a mania, onward towards a bubble, but a big one, and
- yet or but, DOGE, Bitgold and Ethereum are all cool, fun, controversial, profitable, and alarming to the legacy structures in place of the universe
bloomberg.com
VanEck Fires Starting Gun in Race for First U.S. Ether ETF
Claire Ballentine
8 May 2021, 03:36 GMT+8
VanEck Associates Corp. just kicked off a new push for an ETF tracking the cryptocurrency Ether.
If approved, the VanEck Ethereum Trust would hold Ether and value its shares daily based off the MVIS CryptoCompare Ethereum benchmark rate, according to a filing with the Securities and Exchange Commission.
The application comes after three Ether ETFs debuted in Canada last month, the first in North America to carry such an ETF label. The Canadian market is known for beating the U.S. in new ETF concepts, most recently with the launch of the first Bitcoin ETF.
“Canada approving Ethereum ETFs so quickly on the heels of Bitcoin ETFs is part of the reasoning for this filing,” said James Seyffart, ETF analyst for Bloomberg Intelligence. “I don’t see the SEC approving an Ethereum ETF until we have a Bitcoin ETF that has already begun trading. It’s possible that other issuers will follow suit because VanEck has been leading the charge with these filings in the last five months or so.”
U.S. regulators have yet to approve a crypto ETF though at least 11 companies are looking to launch one. Nine of them have filed since the end of 2020, according to a tally kept by Bloomberg Intelligence. VanEck renewed the push for a U.S. Bitcoin ETF with a filing in late December; the SEC has delayed a decision on this application until at least June.
A red-hot runup in crypto prices has seen Bitcoin, the largest digital asset, double year-to-date and Ether advance more than 350%. Ether rose to a record high of around $3,589 in Friday trading.
Its rally this year has pushed the coin, the second-largest behind Bitcoin, into the limelight. The token is used on Ethereum, the world’s most-actively utilized blockchain, the technology that verifies and records transactions.
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