I am excited, but not excited...(Big day for Bitcoin?)

in #finance7 years ago

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All Hodlers are excited today, but I would like to state that there is a downside here. The Chicago Board Options Exchange (CBOE) launches trading on Bitcoin Futures at 2300GMT, that is about an hour away. While I believe an infusion of U.S.Dollars into the cryptocurrency market will make us some money, I also believe it a threat to decentalization and crytos as they were intended. We have seen much market manipulation through ASIC boost, mining cabals and their forks, pump-and-dumps, scams in the I.C.O. field, and generally insane volatility that must be associated with these incredible gains.
Selling an Exchange Traded Future might sound great, but if big players enter short-term positions, everyday folks who bought BTC a while back will be exactly that: There will be no "everyday folks" because they will be "a while back." With a total supply of 21 million bitcoins available in the year 2140 (16,732,813 in existence right now!), what happens if a well-leveraged margin trader drops a a short on 200 million bitcoin? Also wondering what effect this will have on Altcoins as they are all valid use cases and arguably better for certain things. I do not like institutional investors as a concept, but I am however, willing to ride the rocket to the moon!

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