MtGox is the chief example of a litany of skeezy & sketchy schemes associated with that could be, charitably, called badly done. Less charitable intepretations might be, "cons", or "fraud". Lots of that has shaken out, but the BTC community is rife with bad thinking.
I feel far more comfortable throwing a $100 payment at my stockbroker account for an ETF, knowing that several layers of reliable cutouts stand between my bank account and some seriously dodgy businesses.
And, frankly, I don't particularly feel like going through the dedicated work to secure & backup a bitcoin wallet, and I really don't feel like outsourcing that to a company which isn't already reputable and respected for being secure.
The actual value of the underlying assets may, of course, turn into dust and dreams like so many other assets - that's as risky as all get out, and COIN has a lot of direct risks - it's a VERY speculative ETF. That's just the nature of things. And, too, I'm not going all in on COIN, I diversify my assets as a risk hedge. COIN would strictly be a sideline for amusements & maybe some profit.
So the summation of this is, my fine trading account has a variety of services which serve to mitigate fraudulent behavior, and I will mitigate my risk vs. fraud by paying the trading fees & ETF fees, rather than assuming that risk directly on my systems.
MtGox is the chief example of a litany of skeezy & sketchy schemes associated with that could be, charitably, called badly done. Less charitable intepretations might be, "cons", or "fraud". Lots of that has shaken out, but the BTC community is rife with bad thinking.
I feel far more comfortable throwing a $100 payment at my stockbroker account for an ETF, knowing that several layers of reliable cutouts stand between my bank account and some seriously dodgy businesses.
And, frankly, I don't particularly feel like going through the dedicated work to secure & backup a bitcoin wallet, and I really don't feel like outsourcing that to a company which isn't already reputable and respected for being secure.
The actual value of the underlying assets may, of course, turn into dust and dreams like so many other assets - that's as risky as all get out, and COIN has a lot of direct risks - it's a VERY speculative ETF. That's just the nature of things. And, too, I'm not going all in on COIN, I diversify my assets as a risk hedge. COIN would strictly be a sideline for amusements & maybe some profit.
So the summation of this is, my fine trading account has a variety of services which serve to mitigate fraudulent behavior, and I will mitigate my risk vs. fraud by paying the trading fees & ETF fees, rather than assuming that risk directly on my systems.