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RE: The Bankers Hijack Bitcoin as CME Set to Launch Futures Contract.
I agree 100%. This is not a good thing. This will make the 21 million cap meaningless if Bitcoin isn't even changing hands. Greed once again rules the day. The price will sky rocket in the short term but eventually it will crash in a big way as the big players take their profits.
Yes and the fact that it will be a cash settled contract or non deliverable means that the issuer of the fiat dollar (Fed) and its agents (the bankers) will have infinite amounts of fiat money to rig the price.
It is a perception that fiat is infinite. That is only true to a certain point in time. What point in time? The moment when it is no longer perceived as infinite and possible to present as infinite.
Ask Venezuela. Some people thought Bolivars were "infinite". They were wrong, relative to an infinite supply of Bolivars having any value.
Markets will correct. Sometimes it will take a long time. But it will happen.
Agreed. Bitcoin was created after the 2008 crash to protect against institutions just like this.
It will become the bubble everyone is crying it is now and once the Wall Street players have made their millions and take out their profits, it will be the Bitcoin enthusiasts and small time investors left holding the asset that people will then turn round and say "see we told you it was a bubble".