Yesterday news broke that the CME Group — the world’s largest regulated derivatives exchange was going to start trading Bitcoin futures.
Quartz.com wrote about the fact that Bitcoin could no longer be ignored.
From the article which is well worth the read,
CME’s move also suggests that bitcoin has become too big to ignore, since the exchange seemed to rule out crypto futures in the recent past. Bitcoin is just about all anyone is talking about at brokerages and trading firms, which have suffered amid rising but unusually placid markets. If futures at an exchange took off, it would be nearly impossible for any other exchange, like CME, to catch up, since scale and liquidity is important in derivatives markets.
Today Josiah Wilmoth wrote a piece on CryptoCoinsNews.com that some critics think the CME is playing with fire.
Joe Saluzzi a principal with Themis Trading pointed out things like Bitcoin itself being unregulated and open to a host of possible problems like spoofing, layering and manipulation.
But the biggest worry Saluzzi had was novice investors getting screwed in crypto etf’s.
From the article:
The real problem, Saluzzi continues, is the inevitable launch of Bitcoin ETFs. He says that while institutional investors should be aware of the risks they face by trading in bitcoin derivatives, retail investors will most likely invest in ETFs without a true understanding of the risks involved, perhaps believing that they are solid financial products since they are listed on regulated exchanges. “I think we are playing with fire,” he concluded.
How does the latest news affect your opinion on Bitcoin?
Disclaimer: The above is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
Disclosure: The author currently has no positions in Bitcoin or cryptocurrencies.
I really cannot see the difference between Bitcoin and a Pyramid Scheme. Really, what IS the difference ?. WHY has it gone up in value from zero to $6k ?. It is like the art market at high end, crap paintings of a square of Blue colour ,nothing else,selling for Millions $ but really it is only at that price because of hype.
Amen Mike! Almost like accepting or selling boxes full of air? You can sign up and receive an anonymous account with a changing monthly email address? Certainly no risk there? Where would anyone go if they were defrauded? How does anything go from $1.00 to $6k for no apparent reason? IMHO, this has the makings of one of largest frauds ever perpetrated!
Supply and demand.
Limited supply, increased demand means value increases.
Ability to pay for goods and services provide validity as a method for purchase.
Your dollar bill has no value except that which society places on it, the ability to purchase goods and/or services.
Shares/stocks are similar. You can hold shares that provide no dividend, and yet their value goes up and down based on people’s decisions regarding investment.
Gold reserves
I think this ws one of the causes of the first drop back in 2015?
Once you create virtual supply of a commodity that was supposed fixed, it loses it appeal….
now heres the thing, it makes you a buyer for the next 6 months as the hedgers have to buy to soak up those that find it easier to buy a commodity future, than actually bitcoin
so id say buy with trialing stops 28% below the market
page
to big to fail? we’ve heard that before.
More like playing with a bomb!
BTC feels like silver circa 1979. Buyer beware. Paper future contracts can often be settled in cash. Didn’t work out so well for the Hunt Bros.
It’s the technology, stupid. Dollar cost average up to mid $20k.
You don’t get it if you’ve always lived in a “secure” place. One example of a good use for btc is when the ussr dissolved 25 years ago people with money in banks there saw their banks close and run with the money. Local currencies crashed too. If btc had been in use then they would have done much better.
It costs about $1000 in electricity to mine a btc atm so they are not created out of thin air. This is the first time in history people have a peer to peer, permissionless, trust system. No third party, LIMITED SUPPLY.
It’s time sheeple stopped believing dollars and “paper gold” certificates are worth anything. They are what’s printed out of thin air. Since the gold standard was dropped the dollar is the ponzi scheme.
Be your own bank.
Vires en Numeris!!!
The only thing that kept Wikileaks alive and now rich is Bitcoin. When governments and Visa, etc closed their payment channels to Wikileaks BITCOIN CAME TO THE RESCUE. Those bitcoin they were given back then has created a huge WAR CHEST$$$$ for more truth drops. Go BTC!! The Worlds biggest TRUTH MACHINE. 😉
I invested in both bitcoin and ethereum.
Bitcoin has made me more money but i still like ethereum much better.
smart
Bitcoin/Ethereum is about the blockchain process is not the token Do they really think global nation state financial systems will fall to miners with treasure maps BS smells sweeter them human feces. The global financial systems will not accept token/s that are not pegged to nation state currencies $ plc.
Unless they turn off the lights/internet corrupt governments will keep playing whack a mole and the Countries that embrace Bitcoin and similar cc’s will prosper. Guaranteed. The old corrupt system is being replaced “bit by bit”. Immutable, public, truth machines. Government/parasite resistant.
No it’s not the majority of the world gives zero f*cks about crypto, something that’s also got a lot of manipulation. You think crypto is pure? Nothing’s pure, all the thefts and manipulation. ICO fraud, please talk about sheeple. It’s gambling pure and simple 99% of the world could care less.
95% are sh@tcoins, agreed. The 5% that are not. You want those ones. 🙂
Regarding purity I was referring to good code not scumbag people. They are everywhere.