Since the IRS ruled bitcoin as a commodity, bitcoin is gaining interest from the Wall Street. Commodity means it is not illegal to own bitcoin. The SR auction also gave a boost of confidence because the fact that the government is selling them means they must be considered a legal asset.
The clouds are indeed clearing, and bitcoin does have a bright future. However, once Wall Street has moved in, we might be loosing control over the supply of bitcoin. We cannot issue more than 21M bitcoin, but they can, just like they did with fiat. Who knows what derivatives they could think of to trade future bitcoin and warp the supply?
The clouds are indeed clearing, and bitcoin does have a bright future. However, once Wall Street has moved in, we might be loosing control over the supply of bitcoin. We cannot issue more than 21M bitcoin, but they can, just like they did with fiat. Who knows what derivatives they could think of to trade future bitcoin and warp the supply?
That's a good point, soon we'll be able to buy the option to buy the option to short-sell the option to buy a bitcoin option.
