I really don't understand the futures market and how it would effect the price at all. I guess that's a project for another day. But since it never touches Bitcoin I'm trying to see why an ETF was so important to so many people if that's the case.
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Futures market is similar to options where you bet on the price (up or down). You pay a premium for the time and the value, time and volatility at that point in time. So in a way if you bought BTC, you would get a normal 1x on your money. While in the terms of futures, it is now like 5x or even 10x.
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so they are just gambling. how interesting. Gambling is a bad habit, one that sticks for long. So i am not expecting any of the speculative craze to go away anything soon. People don't mind losing money when there is the prospect for more
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I made a short video on it Here
Effectively its giving mainstream access as in the US investing directly into bitcoin on an exchange is still not legal.
It's creating a middle man and if it fails the cash doesn't go to block chain asset investors but profits of the Bankers and effectively the tax man.
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