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RE: Bitcoin Futures Go Live Today @6 PM EST!
Based on my research, bitcoin futures have nothing to do with bitcoin. It is a way to take bitcoin's wealth away from us into a worthless system. Stick with what we already know, which is bitcoin.
If there is a way for the Banksters to corrupt BTC, be sure they will find it and exploit it.
So its just fiat bets on the price of bitcoin they are not actually buying or selling any bitcoin and therefore cannot effect supply or demand and so cannot effect price.
That's where you're wrong, unfortunately. Manipulation is real so if they are placing bets against Bitcoin for hundreds of millions they can make their outcome happen by dumping the real Bitcoin. Say a group of 20 hedge funds/or even individuals came together to place a bet against BTC at 20K, they all have $100M shorts on CBOE equalling 2 billion. But before they did that they bought 25M worth of REAL BTC through GDAX, GEMINI, etc. They dump their 500M worth of BTC, win the options trade and then keep placing higher bets which will allow them to manipulate more and more BTC.
This makes me want to convert my Bitcoin to Steem. I have been speculating the same scenario..
If any exchange creates any type of asset or contract people will try it.
Nobody knows what is gonna happen but, the sure thing is that this is gonna be the next source of speculation, once that Chinesse are out, and I think this could be a bad thing for crytpo because they are melting with the people that had alwayd created bubbles, which could affect very much bitcoin and cryptos in general.
https://steemit.com/bitcoin/@alhmali/history-of-bitcoin
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Indeed, has nothing to do with actual BTC or even its price movement. It will simply allow to place bets based on what is happening with the price action of BTC. They are using prices from existing exchanges so the only problem I see is if they try to buy out the majority of BTC and manipulate it that way while also placing bets on the outcome on CBOE/CME which would require hundreds of billions on dollars, which only the government can feasibly do.
https://steemit.com/bitcoin/@alhmali/history-of-bitcoin
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The holder of the futures will probably hedge by owning BTC, so I think we can expect a greater degree of volatility as more players enter the market.
*---- Bitcoin to Da Moon!
https://steemit.com/bitcoin/@alhmali/history-of-bitcoin
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https://steemit.com/bitcoin/@alhmali/history-of-bitcoin
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