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RE: Bitcoin Futures, Naked Shorts & Crypto-economics
This is kind of not making sense. If CME don't have to deliver actual Bitcoin who is going to play in the rigged game? Everyone can go buy Bitcoin at bitcoin ATM popping up everywhere at increasing speed.
try getting $100,000,000 into BTC. Not possible. It'll allow hedge funds etc to expose themselves to BTC at levels that are meaningful to them
Like Jim Rickards say there is plenty of gold to back all fiat money just a matter of gold price to be $20k/oz or whatever it takes. There is plenty of BTC for everyone, just need the price to be high enough and microBTC as the unit.
right, but gold isnt that price because no one actually pairs gold to fiat. So its price is reflective of its use (none outside of jewlery and tech components).
BTC still has zero function except to send money, but there are infinitely better cryptos for that purpose, so why would the futures contracts reflect anything but that?