Fuck me.... it is a party
https://www.cryptofacilities.com/derivatives/pressreleaseshttps://www.cryptocoinsnews.com/traditional-bankers-creating-bitcoin-derivatives/"Bitcoin Derivatives
In partnership with another former big-time banker, Jean-Christophe Laruelle from Société Générale, Schlaefer has founded Crypto Facilities. What Crypto Facilities will be primarily concerned with is the hedging of Bitcoin investments via derivatives trading. Its first offering will be the trusty forward contract, a trading mechanism utilized in all derivatives markets. These are purely financially-minded people, keep in mind, and the liberating benefits of Bitcoin as well as its technological superiority are meaningless to them. In their press release, they make as much clear:
The platform aims to appeal to sophisticated investors and is backed by a high-profile team of experienced professionals from top investment banks and regulatory advisors. The bitcoin space still lacks professional, reliable marketplaces, and this is what we provide. We apply the same standards in terms of risk management, compliance and reporting as you would see in the traditional finance space, said Timo Schlaefer, Co-Founder and CEO."
Yeah, cool m8, now banksters will be able to pump btc derivatives instead of btc itself.
"Exactly. That's also what I am saying all the time. People can not just see it unfortunately. Its an accident waiting to happen!
Just the same as with gold and silver.
People prefer derivatives above the real thing (because of leverage and possible additional advantages like borrowed funds)
The way I see it is that derivatives are the weapons of the bankers against the threat "bitcoin""