Thoughts on Wall Street getting involved with Bitcoin? 💼💰🏦
As we all know very soon Bitcoin futures will be launched allowing people to bet on the price of Bitcoin via the futures markets.
A lot of people see this is a massive positive for Bitcoin as it brings it into the public's eye (even more than in recent months) and adds "legitimacy".
Personally I find this very odd considering Bitcoin was created after the 2008 world wide financial crash to protect against the very people who caused it ( Wall Street and the big banks) and now here we are in 2017 with Wall Street getting their hands on it and claiming they will bring "legitimacy" and "regulate" the wild west Bitcoin market.
This to me is like Greenpeace getting heavily involved in legitimizing oil rigs.
Wall Street is all about one thing and that is making money, if they can make a few billion here and there by manipulating the price of Bitcoin, which isn't that hard to do if you and your mates have the funds of most small countries between you, then they will.
Bitcoin is anti establishment and Wall Street / big banks are the establishment.
What are your thoughts? Is it good, bad or won't make any difference?
As usual thanks for listening
Happy Steeming Steemers and Steemettes.
My feelings are twofold. From a speculative view this is definetly crazy times for bitcoin and I'm really curious what will happen. I'm definetly all in.
My libertarian side tells me that this is just the opposite of what bitcoin was intended to and it may be under total control by whales and the SEC soon. And I am really afraid that Wall Street whales will bring Bitcoin to it's death. It may be even more unusable for common trade than it is already. But the death of Bitcoin may be the rise of other crypto. I just hope this great idea won't get sucked in and spit/sold out by the establishment like so many other once great things.
Thanks for the comment. I agree. I can see the price going crazy high before a massive sell off, but with everything crypto related no one will know when that will be (except maybe the whales who cause it).
Then the aftermath will be people calling others mad for investing in "that bubble" that burst a few months back.
For sure. Everything is obvious in hindsight.
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