Quote from: Coollikethat on December 04, 2017, 08:39:43 PM

These futures contracts are the same as Gold futures contracts. First, its all paper and settled in dollars not BTC. More importantly, if you look at the Gold Futures market there are more Gold contracts than gold available: 542 contracts to 1 ounce of gold. Shocked

The net effect is artificially keeping gold prices suppressed! If they overhaul that system and settle in real gold or mandate 1 contract per available ounce. gold price would skyrocket!

They are perpetrating the same scheme with BTC paper futures... the net result will like lower the institutional demand for BTC! Not the big upward pressure on price you would expect. Roll Eyes

Here's Why the Gold and Silver Futures Market Is Like a Rigged Casino...

https://www.moneymetals.com/news/2016/05/16/silver-gold-futures-market-000868

People will not pay attention to prices that are obviously not based on real Bitcoin. Exchanges that remain pure to the real Bitcoin price and don't involve themselves in future will be the market makers, because anyone paying real BTC for the same prices as the manipulated future-market BTC prices is a total retard. If it's not backed up by the underlying asset then the resulting price is never a market maker. Basically it will have no influence on the price. Futures only guide prices when the underlying asset doesn't exist yet (the fork's futures for example). Gold is not BTC.