IF these futures come out we will see a rally just like during Mt Gox days over $100,000 followed by a crash back to in-line growth ~$15,000 Maybe I am being wishful thinking but we have seen this happen many times before (I remember buying Bitcoin at $750 just a few months ago, how hard is another 10x?)
Dont be delusional. With futures market bitcoin price could be easily manipulated down by massive paper bitcoin injechions. Like they did to precious metals.
They did it for this purpose not because they appreciate bitcoin as part of their financial world.
Yeah first a HUGE manipulation upward before anything back downward! And we still are yet to even hear an official date. Until then it is business as usual, no fork, 1MB blocks and ultimately prices going up.
Precious metals started trading futures over 30 years ago to compare them to bitcoin imo is like comparing intel to caterpillar and saying well they both work with silicon! The demand for oil doesn't increase as quickly as lately bitcoin demand has. Until the demand levels off relative to supply creation the prices have to keep going up or it goes to $0.
First you force 90% of trading to futures.
Then you make the futures market to decide the price for physical commodity.
And now you could easily manipulate supply-side of the commodity by issuing paper regardless of physical supply of oil, silver or bitrcoin.
IF these futures come out we will see a rally just like during Mt Gox days over $100,000 followed by a crash back to in-line growth ~$15,000 Maybe I am being wishful thinking but we have seen this happen many times before (I remember buying Bitcoin at $750 just a few months ago, how hard is another 10x?)
Dont be delusional. With futures market bitcoin price could be easily manipulated down by massive paper bitcoin injechions. Like they did to precious metals.
They did it for this purpose not because they appreciate bitcoin as part of their financial world.
Yeah first a HUGE manipulation upward before anything back downward! And we still are yet to even hear an official date. Until then it is business as usual, no fork, 1MB blocks and ultimately prices going up.
Precious metals started trading futures over 30 years ago to compare them to bitcoin imo is like comparing intel to caterpillar and saying well they both work with silicon! The demand for oil doesn't increase as quickly as lately bitcoin demand has. Until the demand levels off relative to supply creation the prices have to keep going up or it goes to $0.
First you force 90% of trading to futures.
Then you make the futures market to decide the price for physical commodity.
And now you could easily manipulate supply-side of the commodity by issuing paper regardless of physical supply of oil, silver or bitrcoin.
That's what they're doing now!