Bitcoin options coming to Wall Street
The infrastructure keeps growing. Bakkt is launching bitcoin futures that are settled in btc next week.
And now CME announced that they are launching options on Bitcoin.
This is good news and further cements the leading position of bitcoin. It also adds more rails for users to buy into the space.
Good shit!
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That is good news indeed.
Now we just need some movement on the Alt coin front.
If only.
If you check out the Quarry app, which allows you bind your steemit account to it, you'll see many would be investors asking questions about alts and airfrops like: "if they're giving away tokens, why do they need 150$ in ethereum" and other skeptical questions.
I personally find, there are a few good projects with decent developers and teams out there, but it all comes down to the funding. WIthout it, they are all just pump and dumps. Many people see alts as the new era of penny stocks, and nothing more.
I'm inclined to believe, that the more forks, and airdrops, and alts that premier or IPO with the same or similar project visions as those that came before them and went nowhere, that these projects calling for investments are a detractor away from btc, and other coins that are actually used as a store of value or as a medium of exchange.
When alts pump, ethereum surges briefly, and then dips again, when the completed airdrops vanish.
That is definitely a two-edged sword. Surely it will bring more control over the market, more confidence from the third parties. But as we saw yesterday from the price point of view, there is nobody who can bring bitcoin to the moon and especially not some financial instruments. We need to be patient and with these steps of big organizations and institutional investors, we are much closer to the understanding of more and more people.
Agreed. BTC is money for smart people. But crypto has attracted many detractors and distractions. Ease of access, usability, efficiency, dependability and speed. This is what will make btc even more stable.
Exchanges are just a different brand or avenue of commerce for an asset. Everyone has a favorite, and some have several. Rules of thumb are mostly the same. And many investors and project pushers do not thoroughly educate newbies on it, which leads to them feeling scammed, confused, or taken advantage of.
Everyone isn't as technical or quick as us in these forums. Cheers
I think this is a good move into the mainstream where people who are not currently into crypto can get their feet wet.
But I also believe that btc is the dinosaur that brought attention, and will not be able to keep up with the times. Like the situation with IBM later getting killed off by apple and microsoft. The big guy got the people to use computers and want them. The little guys had superior tech and won the long game.
I am not an investor, but I do move crypto money at times.
BTC is a clunky, expensive mess. I takes hours to get my cash moved with them. Here in SE Asia and I think in a lot of Asia proper, people use BCH instead now. This is somehow involved with China. People in that country rarely use of even see cash now. They are all using BCH to pay for everything with their phones and call it bitcoin. When they come to places like Malaysia where I am, they are surprised we still use cash and do not bring enough of it themselves.
LTC is my most preferred - cheap fees and sometimes the money is already there by the time I login to my exchange.
Second is DASH for me. Also fast, but not quite as reliable as ltc
The mainstream is 95% users and 5% investors. When those users get here they will want to USE the money and BTC is a big fail there.
I'm glad to hear that people are actually using crypto in general as a day to day currency and not just a store of value. That is what will cause the market to surge. Easy usability and access.
I've heard ltc is a faster btc, but also that bch has become faster than btc. It just so happens that what has been happening the last few years keeps happening, and is occuring again. BTC is like the weather; it rises highest in summer, 11k-12k, and now the end of summer is here, it begins dipping again, below 8k. In the winter to early spring, its low, 4k, and slowly starts it's rise again.
Usability is speed, efficiency, and dependability. That is what this space needs.
I hear bch is a good coin for use too, @eoinroi. I am in SE Asia where many use it and it is one of the main transacting currencies in China now. I think things are changing faster than we know.
good news!
But we are small home,
Not recommended to buy it,
Because of the trend of bitcoin, it is affected by many big whales.
So bitcoin options are easy by manipulate.
But the is a benign development and is worthy of recognition.
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Die Verbreitung und Adaption von BTC nimmt immer weiter zu. BTC ist auf dem besten Wege, digitales Gold zu werden.
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@knircky, BAKKT is new BUZZ and now we have to see what picture it will going to bring to Cryptocurrency Market. Have a great time ahead.
Well, they've realised that this wasn't going to be beaten out with the amount of hashing power and adoption and they had to get on board. Also with the state of fiat currencies these days institutional money are looking for new avenues
This is still a small asset class and can really benefit from even a small portion of trading volume from traditional markets flowing in.
Will be interesting to see how Bakkt fairs
Goes to make bitcoin stronger and a leader. Would be hard for anything to overcome it
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