First I want to clarify that these developments could improve adoption. But on the other hand, these financial products are nothing but derivatives, which are completely against to whole case Bitcoin stands for.
We had CBOE, CME and now we have Bakkt. These platforms create a new, derivative based market, a meta bubble that actually do the same thing with BTC, that we was experiencing with gold. People are trading many times more gold based derivatives than the actual, physical supply.
As I see, if these derivatives will get serious attention, that would cause two things:
- Bankers, institutions will have a low-risk, insured option to short the market with high leverage and drive the prices down easily
- The bullish trends will be much less volatile and therefore there will not be huge gains for people who actually, really own the asset, because the traders of the derivatives does not really have to buy and own Bitcoin to make profit or to have a "stake" in it.
Are there some other important reasons I don't understand, or everybody just want to trade it to make FIAT profit and do not care about the financial benefits of this disturbing technology at all?
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