I posted this as a topic so sorry if against rules for double post. Feel free remove. Just trying help.
We need to spread the word and F Wall st.
Futures are going to start trading on it Sunday night. These futures are cash settled. This means they are not connected to BTC in anyway. Like 0.0000%. They are just trading fiat aka making fiat bets on BTC's actual price. So they have endless fiat dollars to short their futures down to $0.
But here's there beauty. If tons of us stay HODL and completely ignore the futures price, futures price can be down 50% and BTC on say coinbase can be plus 20%. This would be all over the evening news and expose Wall St. for the sham it is.
Spread the word.
Example: Someone makes a billion $ bet BTC will be $5,000 Dec 31st. They are trying to effectively short BTC. If BTC on coinbase/exhanges is $10,000 on Dec 31st. This person who made the bet just has to pay the difference between $5,000 (their bet) and BTC physical price of $10,000. So they owe $5K in fiat.
It's a way to manipulate a currency/asset etc, because people think the futures is an actual price or indicator. It is neither, it is a bet is all.If everyone stayed HODL, Wall. St. would get destroyed.
If the futures price is $5k and the spot price is $10k, I will sell my Bitcoins in the spot market and buy in the futures market. When the trades are settled, I will buy again in the spot market, netting a neat profit. Millions of others will do this. This is one reason why your strategy won't work.
This is true. But heres the rub. When you go to make that arbitrage play, where are your coins to sell? You can't short BTC physical. So you can't make that arbitrage play. Now if you have the coins on hand already then yes......And if that's the case, Wall St. needs to buy pretty much every physical coin there ever was made to prepare for these arbitrage plays and or hedging.
I'm not pretending to know the outcome as it will sure be a wild west for the 1st month. But if say 1/2 the coins are HODL, gonna be tough for Wall St to hedge $200B futures market with actual coins/physical.