Will BAKKT BitCoin Futures Be Good for BitCoin? [VLOG#114]

CryptoSlo with more creative gains
what’s going on guys happy Monday hope you had a great weekend yeah I tried to
do a lot of constructive things cleaned out the garage wash the cars you know
fun stuff like that I did a little editing and not a ton just kind of
keeping an eye on things chillin you know so what you clicked on the video
for that is back good or do you need to back that thing up so everyone was
talking about the back I know the news seems a little late in the sense that I
didn’t talk about it you know two or three days ago but I kind of wanted to
do a little research on fact and you know if we look at what happened with
the CME futures they literally waited until the exact top point a big point
and they shortened it all the way down and they stripped out hundreds like
fifty to a hundred billion dollars out of the billions of dollars out of the
market from the it was basically the short of the
century but the difference with the CME futures in fact is simi futures were
settled with cash so it’s kind of back to that thing of why I hate banks stupid
leveraged financial products a lot of times they don’t actually even own an
asset and it’s all paper it’s all paper paper assets and it’s not real and as a
result you have all this leveraged training on you know a product and they
don’t even actually have any skin in the game because their goal is just to loop
in and out of it never actually own the asset so that’s why I hate a lot of
futures markets and things like that because you know it’s just kind of like
our monetary supply with beyond you know we’ve got trillions of dollars but then
the actual physical money is is like nothing and it’s just a bunch of IOUs
bouncing around and it’s it’s like it doesn’t even exist
so that’s kind of what the CME futures was is with at the end of the day it
when they cash out with cash it’s almost like a tether lock right there’s no
market balance the CME future really didn’t create demand for Bitcoin either
so you know there’s a lot of fundamental differences with those futures versus
backed fact is everything is settled with Bitcoin so if you if you know if
you were shorting and you hadn’t you needed to cover your position you
actually have to buy Bitcoin so this creates demands absent flows you don’t
have people looping out kind of it kind of like be like if I bought the Bitcoin
it went up I moved I sold my Bitcoin to tether waiting for a Bitcoin to go down
that I buy Bitcoin so there’s no loop out of the finance of the actual
commodity per se so back to almost is kind of approaching it more as a combine
with you know their financial product so to get in and get out
you always have to actually do it with Bitcoin now they are the custodian still
obviously but it should definitely be a different scenario of when it launches
do I think that Bitcoin will skyrocket with this product launches I don’t know
one thing’s for sure though the fact that it’s using physical band point
continues to drive up the scarcity of Bitcoin you know and yeah I mean that’s
that’s really the key here is as these new financial products and services come
on people are gonna snap a Bitcoin
especially whales when whales get the notion to get Bitcoin they just want big
but I would assume and probably think that you know
fact has probably been buy an OTC Bitcoin for a very long time and they’ve
got a I’m sure they have a very good stack of Bitcoin you know cuz totally to
allow them to launch this thing as they won’t just magically waited for approval
you know from the New York entity but what do I think
fact will do I think bags will in some instances I think it’ll be good it’ll be
good for for the market I think it will drive scarcity and it will drive you
know people moving into the product you know different people maybe people
outside of crypto so you know it’s definitely going to be a different
scenario than the scene CMA futures but you know on that note it’s interesting
to say it’ll be interesting because we’ll see what that does with the CMA
futures running in parallel but yeah yeah it just makes me sick to my stomach
to know those people shorted it going from the top and then then they’re long
on the way up she just got so rich yeah it’s crazy
so that’s my thoughts on fact I think it’s going to be good because the fact
that you have to settle in Bitcoin will continue to drive demand scared of it
scarcity with the product so what do you think comment below tell me what you
think about back what’s your opinion do you think it will make Bitcoin price
increase decrease go sideways yeah so if you like this content like and subscribe
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this is crypto slo they’re not talking gains

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