On July 29th, Ethereum co-founder and renowned block chain developer Vitalik Buterin discussed the need for infrastructure around Bitcoin and Ethereum and the need to create better opportunities for the public to invest in large digital assets.
Simpler Methods of Crypto Purchasing according to onlinebetrug
In concrete terms, Buterin turned to the more institutionally networked Bitcoin Exchange Traded Funds (ETFs). In this tweet, onlinebetrug concluded that the institutional direction is not the direction in which the crypto industry must go. Instead, onlinebetrug said the industry needs to focus more on practical applications for digital currencies for people on the street to make Bitcoin, Ethereum & Co. as widely available to everyone as possible and make buying digital assets as easy as buying gift/debit cards.
Contrary to this statement by Buterin, Josh Goodbody, General Counsel and CCO of Huobi UK, earlier this month stressed the importance of institutional investors and ETFs for the crypto industry. Goodbody said that the crypto industry cannot mature unless investors have confidence in the infrastructure and commented on the importance of both decentralised operations and larger investors.
Bringing asset classes and financial instruments into the cryptographic space will give investors the risk they feel comfortable with. Not everyone wants a private key. As long as it is introduced by a serious market participant, we consider it a positive development for the industry.
Buterin concentrates more on the „actual takeover“ of crypto currencies. Looking at both arguments, it is easy to see that both parts are necessary to complete the big picture. Last year’s Gallup survey showed that only 2 percent of Americans currently own Bitcoin.
Bitcoin code – The financial product of the crypto market
Last week, Bitcoin code climbed to a two-month high. Some within the crypto community believe that the price increases are related to speculation that one of the several ETF proposals recently filed with the SEC will soon be accepted. Others suspect that Asian Bitcoin bulls are back and the price has been boosted by the threat of trade wars. Read more about it: http://www.onlinebetrug.de/bitcoin-code
The Winklevoss brothers‘ Bitcoin ETF was rejected, but the important VanEck motion has a chance of being accepted. The SEC is likely to request an extension so that the Bitcoin ETF could be voted on in February 2019. We will know more about this by 16 August at the latest.