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RE: The Big Long – Bitcoin Mega-Rally Continues as Futures Begin Trading – 12/05/17
Hello @helikopterben,
I totally agree with you, I see the trading of Bitcoin Futures as a BAD news.
Bitcoin's purpose is to be a store of value based on scarcity. By allowing bn of $ to poor in and opening the derative Bitcoin market, we are bringing the wolf.
If I was a bank or a government, I would just put some money to short BTC until it loses 50-70% of its value in order to scare crypto-investors away... You would just need 30-40bn$ to control the price (as you can leverage to X5/X10 with futures.
Then by a cascade effect, all the Ponzi Schemes (Bitconnect and co) will fall giving a Scam label to the entire ecosystem and preventing the adoption of this technology.
As with Gold ownership we will soon see a 100 people "owning" the same exact Bitcoin which will defeat the purpose of this crypto...
Take care.