Bitcoin - A ride to Nirwana?

in bitcoin •  11 months ago

bitcoin train.jpg

Many Bitcoin enthusiasts are extatic about ever new record highs of BTC lately. Some are still wanting to jump on the band waggon, as usual when a asset has a bull run phase.
But is that a wise move?

In the past few days I heard very worrying news regarding BTC:
The Chicago Stock Exchange plans to introduce the trading of BTC futures on a cash settled contracts base. That means nothing else than that unlimited amounts of BTC (that in fact dont really exist) will be traded, and that the price for BTC is then "discovered" based on this trading.
And that without the need to actually own and deliver any real BTC, everything happens in US Dollars.

In other words, its the same scam that is happening with the gold and silver market. And that manipulates the prices of gold and silver (and most other goods) for about 40 years now.

In view of that, I ask myself if its not time to get off the BTC train. May be, to shift to other promising crypto currencies (for example Steem, hint, hint... ). I know, at the moment everything looks great for BTC, but for how much longer?

What do you folks think about this new developement? Will BTC still have a future - or only futures?

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

@tamimiqbal has upvoted this post with a reply. Also resteemed.

Dear congrats for getting $ by your nice post and you shared most important things with us.

Thanks________ and @heart0048 just upvote & comment on your post.. I think you will be back soon.

I think having some BTC is not bad but my money is in the altcoins and now is a nice time to buy them. Specialy ETH and some tokens.


Schon klar, aber was denkst Du über den geplanten Handel mit Bitcoin futures (Derivaten) an der Börse?
Da der Handel auf "cash settled" Basis, d.h. ohne das tatsächlich Bitcoins geliefert werden müssen, ablaufen soll, kann das weitreichende Auswirkungen haben. Da ist zB. ein Handel mit riesigen Mengen (Papier)-Bitcoin möglich, viel mehr als es eigentlich gibt. Und wo sich der Preis hinbewegt ist auch völlig offen.
Genau das selbe passiert im Edelmetallmarkt seit geraumer Zeit. Preisanstiege werden wegmanipuliert, um die "stabile Währung" vorzutäuschen.

This post has been ranked within the top 50 most undervalued posts in the second half of Nov 02. We estimate that this post is undervalued by $11.91 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Nov 02 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.