Well the evidence we have is that every time the SEC or whoever is involved in order to approve futures did so, the asset which got futures got trashed into the ground. Look at metals and other assets, they got shorted badly.
Exactly!
The problem here is that some people think government legislation is going to legitimize Bitcoin. It's not. It's going to legitimize paper coin, and nothing else.
The only people who can be fooled by paper coin are those who are so wrapped up in statism that they will think paper coin is legitimate if it's government regulated.
We have two basic forces fighting against us within the community: statism and bias confirmation.
Statism is the belief that any legislation is going to promote Bitcoin with the the idea that government can do no wrong and wouldn't deliberately destroy something good.
And bias confirmation is when someone holds Bitcoin and he is so desperately wanting it to increase in value that he will seek information to promote his hopes. He will even bend the information to suit his desired outcome.
We all understand that Bitcoin is the solution to fiat money which is corrupt and dishonest. But fiat money is within the powers of government and banks. It would be foolish to believe any type of behavior from government and banks can be beneficia to Bitcoin.
I can't stop government from trying to legislate it and I can't stop banks and Wall Street from making and selling paper coin. But I'm not going to fool myself into thinking they are going to do any good to the price of coin just because it suits me as a coin holder.