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RE: It's official, cryptocurrencies are coming to Wall Street!
I really dont think this is good news for Bitcoin for the long-term. Wall Street guys are really good at setting up things the way they like. I guess we will have to wait and see
Don't worry wall street is 100% honest ; ) I fear the naked shorting they have been using against gold is about to be unleashed on Bitcoin. Wait and see is our only option unfortunately.
Haha, Yes ! Their Moral compass outweighs their greed for money at least tenfold :D
It is impossible for them to do that with cryptocurrencies, it is too global and accessible and it is not cryptocurrencies coming to wall street, it is actually the other way around.
I really dont have an idea what is the amount of "dumb money" in Crypto , or lets say Bitcoin, but I would guess that it is substantial. Bitcoins market cap is ~200 B. If people with deep pockets decide to corner the market I dont think it will be that hard to do.
What will happen is that other coins will just start growing faster. Remember this is not oil, gold or some other commodity. This is something that the billions of un-banked people around the globe will be involved in on all levels like mining, development and trading. This is truly a game changer in the realest sense of the word.
I guess you have a good point. Lets wait and see :)