you all talking about the basic concept which i understand
but i would like to know how this will be implemented technically
These are being implemented as CFD (contract for difference) futures. As far as I can understand, they do not represent any actual holding of Bitcoin, the exchanges do not possess any "reserve" of Bitcoin, and there is no option (at this time) to "take delivery" of a settled contract in Bitcoin. So it's basically betting on the price of Bitcoin at each contract's strike date.
I am more interested in how people in the community feel that a futures contract that is wholly disconnected from the underlying asset (BTC) will impact the price of BTC. I posted a similar thread about that particular aspect.
I guess we'll know starting next week, but it's looking more to me as a way that they can sell clients on "paper Bitcoin" than something that could actually manipulate the real BTC price. At least for now while they're totally disconnected from actual BTC.
Speculators would get a big place to play.So,bitcoin price would be manipulated a lot.That's why,a lo of analysts fear of a possible crash in future just like what happened in tulips during seventeenth century which were sold in contracts.