RE: The Big Long – Bitcoin Mega-Rally Continues as Futures Begin Trading – 12/05/17

I totally agree with you, I see the trading of Bitcoin Futures as a BAD news.

Bitcoin's purpose is to be a store of value based on scarcity. By allowing bn of $ to poor in and opening the derative Bitcoin market, we are bringing the wolf.

If I was a bank or a government, I would just put some money to short BTC until it loses 50-70% of its value in order to scare crypto-investors away... You would just need 30-40bn$ to control the price (as you can leverage to X5/X10 with futures.

Then by a cascade effect, all the Ponzi Schemes (Bitconnect and co) will fall giving a Scam label to the entire ecosystem and preventing the adoption of this technology.

As with Gold ownership we will soon see a 100 people "owning" the same exact Bitcoin which will defeat the purpose of this crypto...

Take care.