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RE: Bitcoin Futures: Trojan Horse or Blessing in Disguise?
I originally thought this bitcoin future is meaningless as it is not a commodity that have product come on and producer would hedge risk and there is no storage cost. After more reading I agree with the view that this is COMEX/LBMA wash rinse and repeat remake. A betting instrument is created where the big banks can fleece customers again.
@oldman28 I have been trying to warn people about it. I am not saying it will happen overnight but over time they (banksters) could have full control of the bitcoin price just like they have with gold and silver. If they can convince investors and traders that that having the futures is the same like having BTC they will succeed. Just look at how when CNBC and other mainstream media outlets talk about gold how they either mention GC (comex future) or GLD. The fact that these futures contracts are cash settled will eventually give the bankers the power to issue "BTC" out of thin air(without mining). I have worked in the belly of the beast and I also understand the point of BTC and why it was created so this is like a marriage between what is supposed to be Good (BTC) and Evil (Fiat banksters).