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16367932 No.16367932 [Reply] [Original]

Bitcoin Futures That Are Settled in Cash to Be Launched by Bakkt in December

>> No.16367941

>>16367932
Faaaaaaaaaakkk

>> No.16368002

>>16367932
What does this mean to a literal brainlet like me

>> No.16368018

>>16367932
what that mean for us?

>> No.16368025

I FUCKING TOLD YOU ALL THAT BAKKT WAS GOING TO BE USED TO KILL BITCOIN. They can fuck you both ways now to accelerate the death of bitcoin. YOU BULLS WOULD NOT LISTEN.

>> No.16368026

>>16367932
TELL ME YOU FUCK. DO I BUY NOW OR WAIT UNTIL DECEMBER

>> No.16368027

>>16367932
Holy shit we really will hit 3k with ease by Feb... fuck

>> No.16368030

The smiley clown face tells me this news is good?

>> No.16368035

>>16368002
It means that bitcoin is about to be fucked like good and silver

>> No.16368037

>>16368025
Why did they call it bakkt, some Talmudic inside joke?

>> No.16368041

>>16368002
The futures markets can effectively trade more Bitcoin than the exchanges can actually get their hands on because the cash-settlement lets the markets trade virtual coins that don't actually exist. Same shit they've been doing with gold for decades now.

>> No.16368042

>>16368002
that means infinite sell pressure from Bakkt

>> No.16368055

>>16368041
Bakkt is physically delivered future which means they will sell bitcoins for cash settlement

>> No.16368064

>>16368042
I feel like this means the bull run after the halvening will be postponed longer than the last two>>16368055

>> No.16368083

>>16368064
The bull run literally wont ever happen ever again, there is no delay. This was their plan all along to destroy bitcoin and every bull walked right into wall streets trap.

>> No.16368092

>>16368083
Always said futures will kill it
(((They))) always win

>> No.16368097
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16368097

>>16368083
What about my linkies?

>> No.16368104

>>16368064
Dude stop. We're about to break a +3 year old uptrend within three months. And this isn't good news.
The top was december 2017. The top of an 8 year bull market. It is done.

>> No.16368130

>>16368097
Its all fucking dead, crypto is dead. Bitcoin is the rising tide that floats all boats and they pulled the plug on the ocean. Your linkies are going to be very stinkie rotting in your wallet.

>> No.16368131

>>16368104
If you are smart you will do what every single major institutional investor is going to do and short the shit out of bitcoin all the way back down to $300

>> No.16368137

I disagree. This has all happened before. I was there in 2012 and 2015/2016. I remember people saying the same things they're saying now except it was about the new exchanges or the chinese or the Indians.

You cant just forget all of the past events

>> No.16368168

>>16368131
Way ahead of you. Shorting is where the money has been since january 2018.
Futures killed it.

>> No.16368172

>>16368137
Says the self-described brainlet.

>> No.16368237

>>16367932
oh well back to the slave ship.

>> No.16368328

Spx and ndx are done for too after Dot com bust. Amazon is toast. No one wants to put their credit card info online.


Internet is a fad.—Bill Gates

>> No.16368407

>>16368097
>4th industrial revolution

>> No.16368485

>>16368130
They couldn't kill torrents

>> No.16368495

>>16368485
They didn't have the incentive of something potentially destroying the wall street/central banks scams.

>> No.16368496

>>16367932
Oh yes I remember the last time Rekkt saved Buttcoin hahahahahahahahaha

>> No.16368506

>>16368485
Plus they can make a killing by destroying bitcoin.

>> No.16368528

>>16368130
>crypto is dead
Wanna bet that my RSR is gonna make me rich while your chink coin is going down the shitter?

>> No.16368532

this only affects fags who dont have keys. keyholders are completly unaffected by this "sell pressure". the prices between paper / physical markets will simply decouple

>> No.16368541

>>16368532
LOL

>> No.16368543

That's a good thing. Crypto is meant to be a currency, not a speculative asset. So now the market cap will represent its actual utility instead of being dominated by gambling addicts. Stablecoin status achieved.

>> No.16368560

>>16368532
>price being destroyed forever
>wont matter to coins in a hardware wallet
You people really are retarded aren't you?

>> No.16368601

>>16368560
It's a sad day when I use reddit as a resource to educate. Read below.

It's actually pretty simple. Usually when someone wants to short sell bitcoin they take on a substantial risk. But with a futures market they can buy futures as protection and short sell physical bitcoin. If they have deep pockets and access to a large pool of bitcoin to borrow they can sell, and sell, and sell. Each time they buy the same amount of bitcoin futures as protection against the shorting blowing up in their face. If it does and they get squeezed the increase in futures price offsets their loss in the shorts. They need lots of fiat to cover like this, perhaps on different trading platforms but the net effect is low risk suppression of price.

The way to fight this is to take your bitcoin off exchanges and put it in your own wallet where it cannot be loaned out and sold against you. That's one reason many will tell you to keep the keys to your bitcoin, along with the risk of them being hacked of course, or frozen, as we often hear about. Don't let them sell your own bitcoin against you.

>> No.16368610 [DELETED] 

>>16368560
How does it feel to be the retard?

>> No.16368635

>>16368601
So all you have to do to save a little bit of Chinkcoin's price is to convince everyone to not keep it on exchanges. Again LOL

>> No.16368700

>>16368601
You are a fucking moron who uses plebbit. Always keep crypto off an exchange, that is 101 for any fucktard. The real problem IS THAT THEY ARE KILLING BITCOIN. IT DOESN'T MATTER HOW SECURE YOU ZERO FUCKING VALUE ASSET IS WHEN THEY KILL THE PRICE. Your 100 bitcoin at zero is still worth zero. It could have been worth way more than that, but bullshits just fell for all the institutional lies and now Bakkt is murdering bitcoin. Do you even fucking understand how the game is played? Before they just had CME, now they have Backed to rape your ass and vagina at the same time. YOU FELL FOR THE TRAP.

>> No.16368703

>>16368541
>>16368560
you dont understand the differences between gold market and bitcoin.
it takes substantial effort to physically transport and hold 100000 oz of gold....therefore people buy and sell "paper gold" because its so much easier.
it takes the zero effort to transfer and hold btc. this difference is crucial in that there is no natural incentive to trade paper bitcoin.
again physical keyholders are not affected.

>> No.16368718

>>16368700
how does someone buying paper btc on bakkt increase the supply of btc on binance?

>> No.16368744

>>16368532
How can someone be this stupid?

>> No.16368783

>>16368718
You smoothed brained homosexual, they used paper and physical in tandem to complement each other. Here is how the scam works because you are too fucking stupid to understand. CME was used to crash bitcoin (CME opened right at the top of the bubble). Buy up bitcoin and pump up the price again. Now you open backed so you open up a cycle. Open up shorts on CME and Bakkt when it launches, dump your bitcoin. Make a shit ton of fiat and bitcoin at the same time. That bitcoin will be used to dump on the market again with shorts. Rinse and repeat while institutions make boatloads of money.

Now Bakkt just tipped their hand to what all the smart money already knew what was going on, and you homosexuals are still too sub-IQ to see the trap they laid for you. They are going to play the loop over and over again getting rich off you retards while everyone autist hodling loses all the value in their supposed future money.

>> No.16368791

>>16368718
BECAUSE WHEN AN INSTITUTION CAN BUY PAPER BITCOIN AT A $100 DISCOUNT ON BAKKT FROM BOOMERS SHORTING THEN THEY WILL BUY IT THERE INSTEAD OF LOGGING INTO FUCKING BINANCE AND BUYING REAL BITCOIN. I don't think you have even a basic understanding of this. There is now potentially infinite sell pressure. There is a reason the all time high was the day before CME paper bitcoin launched.

>> No.16368805

>>16368718
Ever notice why the market crashed when Bakkt opened? Ever noticed why their ATH volume spikes when bitcoin is crashing? Its not a coincidence.

>> No.16368856

>>16368791
So, Why does the same thing not happen with stocks which also have futures? The infinite sell pressure thing?

>> No.16368896

>>16368856
when was the last time you heard of someone demanding physical stock certificates to be delivered via td ameritrade?

btc is fundamentally different. being a purely digital product the natural incentive is to hold keys.

these are just run of the mill fudders....bakkt is going to destroy btc, gox, creg, etc. yet when pushed to explain the actual mechanics its all handwaving and fear mongering. no substance.

>> No.16369277

I am saving this thread to laugh at "muh knowledgable doomer" 6 months for now.
Will post a honkspoke (slowpoke+honkler)
BTC at 300, fucking kek.

>> No.16369400

>>16368130
Crypto isn't dead it just becomes clear that using it as an investment vehicle instead of a medium of exchange was the fucking dumbest idea ever. Crypto will belong to its real users once wall street BTFOs you guys

>> No.16369442

>>16369400
I dont think you get it. They don't intend to just get the price low, they want to exterminate the entire crypto experiment. Bulls let them get their foot in the door because they were greedy and now this is the end.

>> No.16369535

>>16369400
What medium of exchange?
Bitcoin is ridiculously slow and everything is public. Using freaking Zelle makes way more sense as a medium of exchange because it is instant and i dont have to worry about the entire internet being able to see how much money i have in my bank account (wallet)

And all cryptos are stupidly priced in BTC and thus are affected by its wild swings

>> No.16369559

>>16369277
>>16369400
praise kek

>> No.16369582

I love it. Everything I warned for months is coming true. Get fucked bulls. We told you exactly what was going to happen.