#Bitcoin Futures?
#Bitcoin Bananas.!!
I thought I would share with you the latest tweet I have just posted.
The tweet reads...
#Bitcoin Futures?
Amazes me that people are still believing in the old garbage Financial System of price discovery.
You may as well call these #Bitcoin Futures " #Bitcoin Bananas " if the Contracts are settled in Fiat.
They're totally worthless.!!
#Bitcoin is #Bitcoin end of.!!
Who's regulating this garbage?
Ask yourself a very simple question.
Who's regulating this garbage?
The same Regulators that regulate the highly corrupt and highly fraudulent garbage Financial System that #Bitcoin is not.
Thanks again for reading.
Stephen
Stephen,
Very true. And it is true of any futures contract not settled in it's underlying commodity.
So this would also be true of the precious metal futures, grain futures, and oil futures, practically any futures market in the western hemisphere.
This is why the total output of something for a year can be traded in a single day.
It will continue until buyers of futures contracts stand for delivery. It only takes a few big buyers to stand for delivery to bring the entire system down.
Have a great week!
Steem on,
Mike
Hi Mike
I could not agree more with every single word you have said.
Futures Contracts are meaningless if the Contracts are not settled in the underlying asset they are supposedly trying to value.
Like you say, it will only take a tiny proportion of the holder of the Contract to demand actual delivery of the very underlying asset they are contracted to settle to bring the entire Global Financial Market crashing to the floor.
Have a great day Mike.
Kind regards,
Stephen
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