Will Bitcoin futures be the best or worst thing to happen to crypto? 😯

In my humble opinion...

it's safe to say the end of the world is...unlikely.



Coin of the Day

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Bitcoin is the secret utility/asset that banks need, nay, want. And the futures contract are making the deal sweeter.

It sounds like there's going to be less nail-biting this morning than yesterday. Bitcoin seems to have relaxed, coming down to a more stable $15,000 after an insane day of peaking at $18k on Thursday. The consensus among the crypto community is that the price hike is due to the anticipation of Bitcoin futures initially being released on Sunday night (December 10th), by the Chicago Board Options Exchange (Cboe) and by the Chicago Mercantile Exchange (CME) on December 18th. As to who will buy these futures...there's definitely a range. It was announced yesterday that Goldman Sachs, whose CEO Lloyd Blankfein has notoriously been open-minded about crypto, is going to clear the futures contracts for some of its clients. We're into it. Akuna Capital is reportedly going to be the first to trade Bitcoin's futures, after reporting to Quartz that, "The firm hasn’t experienced a product launch with as “much hype as this, ever.”

As for the actual futures contracts, the crypto community as a whole is somewhat divided. While any opportunity to make money is obviously welcome, there's been an underlying fear of a "pump and dump" – stock inflation through hype or misinformation. While a critical selling point for Bitcoin futures has been a possible decrease in volatility, there's still fear of price manipulation of BTC because of the potential to profit when the price dips. There are some notable absences in the futures participation, including JPMorgan and Citi; two banks who have historically been, well, slightly hesitant to accept the new tech.


You have to admit – it's been quite entertaining as both governments and banks reckon with crypto's forceful rise. Here's the download.

Can you imagine being a member of the government and watching yesterday's price jump? Probably thrilling, but a bit scary. As for the United States, regulators are apparently keeping a close eye on the futures market to prevent price manipulation (good luck with that). The Tokyo Financial Exchange is planning on offering futures contracts in 2018, solidifying their status as one of the most crypto-friendly countries in the world. Meanwhile, South Korea is not planning to provide Bitcoin futures/derivatives anytime soon, although they reversed their decision to ban ICOs as of this morning. Win! The Asian market has been somewhat divided over crypto's boom, and we're interested to see how it all shakes out (we're looking at you, China).

Yesterday, as Bitcoin's price increased like Jamie Dimon's blood pressure, people were rightfully tentative about BTC's long-term performance. After all, the last time a price increase like this happened, there was a pretty severe correction that lasted almost a year. The difference is the immense infusion of money coming into the marketplace over the past year. It's supply and demand, and it's looking like there will be plenty of interest in 2018. Exchanges have been experiencing expected growing pains, thanks to the overload of new users and an unusually high volume of trades. It became a sort of echo chamber, where few people could put fiat currency into their account or take it out – but could trade within the exchanges. Bitfinex, Bittrex, GDAX, Coinbase, and Poloniex all experienced technical difficulties yesterday morning, proving that we have some way to go regarding not only user experience, but the ability to take a tidal wave of users.

Tell your friends: they haven't "missed the boat on Bitcoin." If anything, they're still relatively early to the game. 

We all know that mining crypto is incredibly energy inefficient, so it makes sense that miners are asking utility companies for cheap forms of alternative energy.

Apple's jumping on board – it looks like the tech giant is seriously looking into blockchain, after filing a patent application focusing on Private Key Infrastructure tools.

Coin to Watch

Altcoins are just starting to make a comeback, and we're liking the way Litecoin (LTC) looks right now.

Daily LOL

Fear not, you will have your time to shine.