Quote from: pitiflin on December 01, 2017, 06:48:16 PM

Quote from: cryptician12 on December 01, 2017, 02:07:06 PM

From the very onset, I believed that the introduction of CME futures would undoubtedly be a good thing for bitcoin. The inflow of institutional cash would surely push the prices to new records.

However, recently a thought crossed my mind... Is it possible that futures would be used by banks to suppress the prices instead, in much the same way the prices for gold and silver are being suppressed right now? And if so, what could be their motivation behind it?

Could this be some futile effort to discredit Bitcoin and drive attention away from it? But the thing is that I don't believe Bitcoin itself possess any threat to the financial system. Transactions are too slow, costly and the network cannot support nearly enough transactions to allow for real world business applications. The blockchain technology behind bitcoin is a totally different story though. THIS is the big disruptor to the financial system, and there is no stopping it with any form of market manipulation.

So my thoughts are mixed on this. In the short run I believe the inflow of institutional cash could push prices higher. In the long-run though I suspect there may be attempts to suppress the prices... to what end I am not quite sure.

What do you think?

Even if bitcoin doesn't posses any threat against the financial system of any economy, remember the fact that it is decentralized. Number two, it has got so much attention and the number of scams also have been quite a long this year. The CME group can be seen as an opportunity as well as a threat. Because the instituinal cash would be way more than the normal crypto whales inventory, no doubt in that. So the prices will get influenced way easily but if the SEC decides to limit the power of CME, well that'd be helpful. Another issue is that NASDAQ has also decided to list bitcoin futures by the first half of 2018,this also can affect the normal markets. And yeah, CME has officially decide to list bitcoin futures on December 18.

There is obviously an example of CBOE futures launch on 10 December, when Bitcoin made one of the largest growth in % in 5 minutes time, I think the same will happen upon CME launch. I have a quick video proving my point:
https://www.youtube.com/watch?v=JsR9N-TDBWM