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RE: Bitcoin making new all time highs, but can the reasons behind it also be good for steem and altcoins?

in #bitcoin7 years ago

I'm not so sure about that. Derivatives have been used by the banking cartel to manipulate the price of precious metals, so I don't see how having large chunks of bitcoin's daily volume being conducted on trading venues, where the underlying commodity (actual bitcoin) is not being bought and sold, will be beneficial to anyone but fat-cat Wall St. banksters.