Bitcoin Futures, Naked Shorts & Crypto-economics
Bitcoin futures will offiically be with us in the next two weeks; and Cantor Fitzgerald plans some derivatives contracts shortly thereafter.
We spoke to Steemiter Stephen P Kendal for his thoughts on what bitcoin paper contracts might do to the price of BTC in the real world.
Kendal offers an interesting take: that bitcoin futures will actually reveal the paper ponzi scheme underlying all financial markets; and bitcoin will really take off.
Enjoy your informative, thought-provoking, yet slightly unhinged, reporting. Keiser Report should win some sort of reward. Or would you just prefer to receive Bitcoin?
Bitcoin, please.
It's a good theory. We'll just have to wait and see how this impacts the price.
I feel like the people against bitcoin, are secretly buying as much as they can and speaking against it to try to keep the price down currently lol
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?
Stacy, Nice Steemit mentions here and great interview with Stephen P Kendal! https://steemit.com/@stephenkendal
My take away, don't fear the reaper (CBOE CME)!
Only a couple of weeks before a new reality to hits the consciousness of billions
An interesting podcast. The futures market coming to Bitcoin is two parallel realities, ideologies and technologies being stitched together. It's going to be fascinating to see how this plays out.
Tell me more