/biz/ - Business & Finance

[Anonymous No.10844420]

Name one thing that's wrong with this.

(You can't.)

[Anonymous No.10844429]

This is so huge. Brainlets are oblivious.

[Anonymous No.10844430]

>>10844420
it has two k's

[Anonymous No.10844436]

wont change anything

[Anonymous No.10844442]

>>10844430
Would have been a home run if they had three.

[Anonymous No.10844465]

>>10844436
You can't even handle this right now.

[Anonymous No.10844556]

It will become washing machine to sterilize all existing fiat into crypto, then it will collapse everything
Just look who's behind it and what global sentiment is, in regards to monetary system
We're heading to very scary times

[Anonymous No.10844592]

>"physically backed" but only partially
>derivative market
>leveraged


idiots think this is a good thing. this just mens tha wall street can create a huge liquidity playground for themselves to control all of crypto without owning much of it. they know that early whales will never sell them BTC, so this is how they control it. through derrivative markets. like gold.

1BTC = 100 BTC on their platform 1:100 backing.

they create BTC out of thin air and have more liquidity than any exchange. and idiots who dont understand financial markets at all think this is a good thing lol. This is CME futures 2.0

[Anonymous No.10844613]

>>10844592
FUD idiot, they said it will be 1:1

[Anonymous No.10844622]

>>10844420
When launch?

[Anonymous No.10844623]

>>10844420
the jooos

[Anonymous No.10844635]

>>10844623
I’ll take their dollars and trade them some of my meet bux tho.

[Anonymous No.10844639]

>>10844622
Website says in regulations should give a yes/no in November and you can trade 1 BTC futures in association with ICE.

[Anonymous No.10844681]

>>10844592
indeed, i was thinking that too.
But..
But, i was thinking
But Bitcoin is different: limited offer. no duplicate, no inflation. could work differently from gold, silver and fiat ...
just a guess

[Anonymous No.10844686]

>>10844639
>ICE
Yep
These guys own 30+ exchanges and have 26%+ world trading volume, measured in trillions per day, while crypto barely has 5-10 billion

[Anonymous No.10844717]

>>10844592
I think it would be good shortterm and could get as to 20-60k but that would also create a ceiling. The jews will want to keep everyone happy but they won't let us get too rich

[Anonymous No.10844796]

>>10844717
Hey. Cool it with the anti-Semitic remarks.

[Anonymous No.10844862]

>>10844717

nah. it wont do that off of this. thats hopium. This is exact same as CME Futures, just operates differently. it will crash the market again. most people in crypto are relaly stupid and havent invested in much before, so whales will easily hype ppl up on baakt till it comes like they did with CME, then crash and we find our bottom.

[Anonymous No.10844871]

I think I saw a few bcashers come up with some nonsense fud.

[Anonymous No.10844881]

>>10844442
>>10844796

[Anonymous No.10844914]

>>10844862
but if we don't go up much till november wouldn't it be a better idea for the whales to push it up instead of trying to shake out the early big holders?

Do you think a physically backed etf, like the one solid x van eck are proposing would move us up?
I think that could get us to those meme 40k and keep it there more less for a long time

[Anonymous No.10844915]

>>10844862
If they crashed it then no one would want to get into crypto. Better have a bull run and profit off of it. Give the neets some money but you keep control of it

[Anonymous No.10844965]

>>10844862
Please explain how this is the exact same as the cash-settled cme futures.

[Anonymous No.10845010]

>>10844420
First off, there's not enough information to analyze. If it's anything like Robinhood crypto, then it's not very meaningful.

If they create a derivative that allows traders to trade the price rather than the underlying asset, then this is a counterproductive development.

If Bakkt retains custody of all assets traded on it's platform, then those assets will have lost their utility. But at least you could expect the price to go up one last time.

If it served as a front end payment processor/exchange, then that would be very bullish.

[Anonymous No.10845049]

>>10844914

No. We will go up by then. in fact we will bottom our soon and start a rally to no more than 8k in a few weeks.

bakkt hype will just be the cause of a rally around that time too, maybe to antoher lower high. Also what do you mean shake out early big holders?

Physically backed ETF is better but its also a meme used to hype and mobilize fomo by ppl who know no better. we went from $0.002 all the wat to $20,000 without an ETF. get real. It helps but its just another background event. we might moon when it gets approved but its short lived and not the reason for a bullrun.
>>10844915

why? beccuase you purchased in Nov-Jan and 3,000$ seems unfathomable to you? wake up. you guys are the minority. most BTC was purchased for a few dollars, or under 1000$ bucks. very little was purchased percentage wise near these prices. its still very high value to most ppl. only bagholding top buyers will think it will "crash and nobody would want to get into crypto" and that is a good thing to megawhales and wallstreet.

Jfc i will still be +15x since i purchased at $4k

>>10844965

derrivatives markets are the tail that wag the dog. CME futures may be cash settled but their contracts still represent the underlying asset. there is more volume in CME then there is on ALL btc exchanges currently.

you know how Bitmex has BTC with leverage? it will be a little like that. Bitmex moves this market. now imagine wall street tier bitmex.

[Anonymous No.10845464]

>>10845049
didn't read that whole blog post but the last sentence. how do you compare bakkt with bitmex when bakkt doesn't offer leverage?

[Anonymous No.10845497]

>>10844420
the name sounds like an Indian dish made from cow poo

[Anonymous No.10845523]

>>10844420
No regulatory approval yet. Which they won't get.

Try again.

Oh, and it will still require US customers to claim every transaction on their taxes. They have to change the tax code to escape that. I don't see many people wanting to declare every cup of coffee they buy at Starbucks.

BAKKT is the new ETF. You'll pin all your hopes and dreams to it, and when it fails, you'll attach yourself to it stupidly.

[Anonymous No.10845544]

>>10845464

Its a physically backed Perpetual contracts, like bitmex.

[Anonymous No.10845823]

>>10845523
>he doesnt put every cup of coffee as a business necessity

[Anonymous No.10846233]

>>10845523
>No regulatory approval yet. Which they won't get.
Created by the owners of the NY Stock Exchange with capital from Microsoft and Starbucks. What makes you think they won't be approved? This is not no name bullshit like the Vinklevoss ETF.

[Anonymous No.10846438]

>>10844592
>leveraged
>1BTC = 100 BTC on their platform 1:100 backing.
Source?
Maybe you should do some cursory research into the exchange before blagging on 4chan.

>With our solution the buying and selling of bitcoin is fully collateralized or pre-funded.
>Our new daily bitcoin contract will not be traded on margin, use leverage or serve to create a paper claim on a real asset.
https://twitter.com/Bakkt/status/1031641472116899840

[Anonymous No.10847050]

>>10844592
Except you can't just make BTC out of thin air

[Anonymous No.10847141]

>>10845523
Jokes on you. Coinbase prime is already the ETF

[Anonymous No.10847167]

>>10844420
>blakkt

[Anonymous No.10847181]

>https://www.forbes.com/sites/caitlinlong/2018/08/13/the-r-and-c-words-enter-the-vocabulary-of-bitcoin-enthusiasts/#348e490268f3

read it faggots

[Anonymous No.10847259]

>>10844881
aaahahaha
holy fuck dude