Loading ...I understand those are not your words, just those of a ‘financial wizard’ you are reporting on. They can indeed TRY to make a ‘futures market’ of Bitcoin, but it will be purely a ‘following’ market… a ‘side-bet’.. that is led around by an independent, fundamental BTC. There is no way I can see that a “BTC Futures” market can be used to leverage against the fundamental BTC price, like the bastards do against gold, silver, and all the other commodities on the ‘commodity exchanges’. They cannot assume control of the fundamental BTC price UNLESS they use a lot of cash to buy or sell in the BTC ‘market’ (which is a blockchain). It is a worldwide, independent, CASH market for BTC. How the hell can you ‘control’ that? I don’t see a way.
Despite my strong opinion on this, it still would not surprise me to see the wizards TRY. Maybe they will find a way… using a lot of supporting cash from a central bank… but it would be a real mess.
The real clue here is that one cannot ‘naked short’ BTC. If you are going to ‘sell’ BTC massively to drop the price, YOU MUST HAVE THE ‘PHYSICAL’ BITCOINS TO SELL… EnMass.