Post
Topic
Board Economics
Re: Bitcoin Futures- The Bank Attack on the Crypto-Market
by
0bit
on 02/12/2017, 23:37:31 UTC
I don't necessarily see this as a bad thing. The biggest reason why I see this being a good thing is because large and reputable organizations like CME and NASDAQ looking to offer Bitcoin futures contracts lends Bitcoin lots of legitimacy, which is something it needs in order to ultimately be adapted by regular folks. Most people stay away from Bitcoin because they blindly listened to the news media when they painted Bitcoin as a scam used by the criminal underworld to finance "terrorism" or whatever the threat they chose that week was (The best way to grab people's attention is to make them afraid). The offering of these futures contracts could change that perception. Let's be honest: a huge part of Bitcoin's existence is speculative trading. CME and NASDAQ probably see this as an opportunity for them to make money, and probably aren't doing this out of some contrived plan to control and destroy Bitcoin. They'd be wiser to profit off of it's existence rather than "attack" it.