Interesting post.

His other reasons are valid in my opinion, but the one I quoted seems
at least questionable to me. Most brokers that currently offer trading of these futures
have already announced that the high margin requirements are due to the novelty of Bitcoin
futures. Eventually, these margin requirements will be lowered to a level that is comparable
to other tradable assets.

Additionally, this won´t really deter anyone from making profit on the
Bitcoin futures by manipulating the Bitcoin spot market. It may raise the amount
of capital that is required to do so, but due to the attractiveness of this scheme
(shorting BTC futures, dumping real BTC before the settlement date) and the enormous
profit opportunities no one will refrain from doing this simply due to higher margin requirements.

Apart from that I´d guess that large traders can negotiate better terms with
their broker, which probably also includes a lower maintenance margin or even
the possibility to provide the margin capital only in the case it becomes
necessary (=call for additional cover).