I think a futures market will help reduce volatility, the real problem is high fees and slow conformation times which has made it useless as money. I agree that Altcoins hold a better promise but I wouldn't write bitcoin off as it needs to be high in price for the fees to be high.
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You have to look at how gold and silver are being gamed in the futures market to appreciate how the futures market will impact bitcoin.
I'm aware of this 99% of Silver being traded is paper but I think being able to short is needed as it allows miners to hedge risk, also bitcoin is more dispersed, smaller and it's easier to take delivery but yes it is manipulated as it's a competing currency.
There is no virtue in shorting. Wall Street just had to find a way to satisfy their greed.
Miners have to pay electricity bills being able to take a guaranteed price in 2 weeks time is needed to hedge risk as this is highly volatile it's the same for wheat farmers etc. Futures markets aren't inherently evil. It's not the use it's the abuse by wall street! Before futures it was pump and dump so their will always be a way!