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RE: The Bankers Hijack Bitcoin as CME Set to Launch Futures Contract.
Ah I get it. So it is like the gold/silver paper game again. Question is who if anyone that believe in bitcoin would care about the paper fake price? The reason people think bitcoin is superior is that gov/bank don't have control so a gov/bank sanctioned market would be a big no no for those that understands it.
True as I don't care about trading gold and silver futures but the bankers still control the price of the precious metals. This bitcoin futures contract is even worse because the bankers will not need to worry about delivering or taking delivery of bitcoin as it is a cash settled contract. With access to hundreds of billions of free fiat money the bankers will be in charge of the bitcoin market just like they are in charge of the precious metals.
I came to the conclusion that at some point there will be PM shortage as people realize they have been lied to and all fiat will go to zero, PM and may be crypto as well will do very well.
They'll be in charge of nothing.
You can't create Bitcoin by decree, it exists via proof-of-work on a predetermined schedule dictated by the code on which it runs.
Derivatives won't do anything to the underlying, just like they don't do anything to the S&P 500 components traded in index futures.
You can manufacture gold warehouse receipts, clad tungsten, or infiltrate Canadian Royal Mint bars, but Bitcoin is verified and absolute due to the protocol and global hashing network keeping it secure.
Your premise is flawed, plain and simple.