Bakkit Update - page 2. | Bitcointalksearch.org

Bitinity

legendary

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Quote from: Nadziratel on April 02, 2019, 05:18:21 AM

Quote from: Kemarit on April 01, 2019, 11:50:14 PM

Quote

Over the last year, we’ve worked closely with the Commodity Futures Trading Commission (CFTC) on an extensive process to obtain regulatory approval for the launch of our physically delivered bitcoin futures. While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.

https://medium.com/bakkt-blog/progress-report-9ac2c519d262

Delay, delay, delay... I can't count anymore. Bakkt sold it fake news the markets over and over again. It is unreliable anymore. If I were investors, I never would invest or join their platform. They are trying to create a great platform but they've not prepared for it such a long time. Obviously, it is not related with preparation. They are waiting bull season.

I definitely don't recommend to invest in bull season like this futures. Trading will be definitely more profitable.

Probably you are right that they are waiting for the momentum which is the bull season. I'm not an investor of this platform but I follow the updates although not so frequently. I'm just curious what will they do next, but saying "we are not yet able to provide a launch date" sounds that they are giving a big promise to investors without a good plan. CMIIW

proTECH77

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Quote from: Kakmakr on April 02, 2019, 01:31:00 AM

I think people must understand what physical delivery bitcoin futures contracts are, so here is a short explanation : " You trade 1 day Bitcoin futures contracts on Bakkt, and they are settled the next day in Bitcoin. i.e. you get physical Bitcoin in your Bakkt account equal to your holdings in futures contracts from the previous day at the start of each trading day. "

https://cryptocurrencyfacts.com/2018/09/19/bakkts-physically-delivered-bitcoin-futures-contracts-explained/

This explains the spike in the price, because we know there will be a significant injection on the demand side for bitcoins now. Grin

Had never understand it the way you explained, will ensure to follow their social medias to get the first hand news from them. This will definitely make Bitcoin demand rise and investors will troop in which will trigger Bitcoin bull run. Hope that, they be sincere in all their dealings and never involve them-self in data manipulation or fake data.

Nadziratel

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Quote from: Kemarit on April 01, 2019, 11:50:14 PM

Quote

Over the last year, we’ve worked closely with the Commodity Futures Trading Commission (CFTC) on an extensive process to obtain regulatory approval for the launch of our physically delivered bitcoin futures. While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.

https://medium.com/bakkt-blog/progress-report-9ac2c519d262

Delay, delay, delay... I can't count anymore. Bakkt sold it fake news the markets over and over again. It is unreliable anymore. If I were investors, I never would invest or join their platform. They are trying to create a great platform but they've not prepared for it such a long time. Obviously, it is not related with preparation. They are waiting bull season.

I definitely don't recommend to invest in bull season like this futures. Trading will be definitely more profitable.

cryptjh

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Quote from: Kemarit on April 01, 2019, 11:50:14 PM

I'm sure everyone is excited to see Bakkt Bitcoin future contracts going live. But if you wanted to see or read the latest update, I urge you to follow their official medium account, updated by their CEO, Kelly Loeffler. They posted an updated 2 days ago:

snippet:

Quote

Over the last year, we’ve worked closely with the Commodity Futures Trading Commission (CFTC) on an extensive process to obtain regulatory approval for the launch of our physically delivered bitcoin futures. While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.

https://medium.com/bakkt-blog/progress-report-9ac2c519d262

Yeah, I know most of you grew tired of hearing when it's going to be approved because we believed that institutional money will flow to the market and push the price. So instead of just looking at crypto media for updates (most of them are just FUD or putting news without validation) just visit their blog from time to time and see how it goes.

This is the closed I have got to an explanation about last nights BTC price rise, without this news, actually gave any news about any Bakkt Bitcoin future contracts starting date.
Another thing that has happened in the last few days is that the Bitcoins bear market resistance line seems to be broken, this alone can be enough for people to buy back into the market.

btc_angela

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Quote from: alisafidel58 on April 02, 2019, 03:21:46 AM

Quote from: Haunebu on April 02, 2019, 02:52:07 AM

This makes sense. I wondered why the market was rallying and it seems like this is the legitimate reason behind it(Not ETF etc). Honestly, I was surprised to see the market rallying currently.

At present, BTC value is holding steady at around $4.6k and I am expecting it to rise back above $5k if the demand picks up in this case.

Earlier I was also wondering what was the cause of the sudden price hike in the market until I saw that news I can confirm that BAKKT is the cause of it.

I don't think it will Hit $5,000 as the correction is now being placed.

We don't know that. Yeah at present its holding around $4.6, so it can go either direction and I hope that the price will go south and expect a rise to $5k. So I guess everyone is very happy to see the sudden spike and crossing their fingers and see that the price could be at least sustained up to the end of the week.

DreamStage

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That would make much more sense and give a reason explanation to the sudden price rise.

As for 12 months was holding steady around the $4000 and suddently boom goes up to $5100.

I also tought it would be something related with latest government activies, especially the pension funding using cryptocurrencies.

alisafidel58

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Quote from: Haunebu on April 02, 2019, 02:52:07 AM

This makes sense. I wondered why the market was rallying and it seems like this is the legitimate reason behind it(Not ETF etc). Honestly, I was surprised to see the market rallying currently.

At present, BTC value is holding steady at around $4.6k and I am expecting it to rise back above $5k if the demand picks up in this case.

Earlier I was also wondering what was the cause of the sudden price hike in the market until I saw that news I can confirm that BAKKT is the cause of it.

I don't think it will Hit $5,000 as the correction is now being placed.

Haunebu

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Quote from: Kakmakr on April 02, 2019, 01:31:00 AM

I think people must understand what physical delivery bitcoin futures contracts are, so here is a short explanation : " You trade 1 day Bitcoin futures contracts on Bakkt, and they are settled the next day in Bitcoin. i.e. you get physical Bitcoin in your Bakkt account equal to your holdings in futures contracts from the previous day at the start of each trading day. "

https://cryptocurrencyfacts.com/2018/09/19/bakkts-physically-delivered-bitcoin-futures-contracts-explained/

This explains the spike in the price, because we know there will be a significant injection on the demand side for bitcoins now. Grin

This makes sense. I wondered why the market was rallying and it seems like this is the legitimate reason behind it(Not ETF etc). Honestly, I was surprised to see the market rallying currently.

At present, BTC value is holding steady at around $4.6k and I am expecting it to rise back above $5k if the demand picks up in this case.

hugeblack

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Quote from: https://medium.com/bakkt-blog/progress-report-9ac2c519d262

With ongoing reports of crypto market manipulation and security concerns,

What I like is that the problems in cryptos are to manipulate prices and security concerns, not that they are used to finance terrorism, drugs, gamble, or just a bubble.
I am not much interested in BTC-based contracts and it is better to make the market decentralization and transparent away from trying to control the central platforms and big whales.

Thanks for sharing these links, at least to have official central platforms that give us news with those that give FUD will give the user the ability to distinguish the truth from the fake.

Kakmakr

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I think people must understand what physical delivery bitcoin futures contracts are, so here is a short explanation : " You trade 1 day Bitcoin futures contracts on Bakkt, and they are settled the next day in Bitcoin. i.e. you get physical Bitcoin in your Bakkt account equal to your holdings in futures contracts from the previous day at the start of each trading day. "

https://cryptocurrencyfacts.com/2018/09/19/bakkts-physically-delivered-bitcoin-futures-contracts-explained/

This explains the spike in the price, because we know there will be a significant injection on the demand side for bitcoins now. Grin

shirackjs

sr. member

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Thank you for sharing. Official sources are the best place to get accurate news and updates. Will be following this blog. I understand that Bakkt launch will definitely take time, it is fine to wait for good stuffs.

Yaunfitda

hero member

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So it looks like they are really trying their best, working from behind to really get the BAKKT offering underway in the next couple of months perhaps.

But still, the final decision should come from Commodity Futures Trading Commission (CFTC) themselves, so it's beyond their control. Just look at the recent Bitcoin ETF proposal, it was pushed again by SEC (Bitwise with NYSE Arca and the other filed by VanEck/CBOE).

They worked their ass off and fully comply, putting their best effort, but still it was denied. I'm not saying that CFTC will deny the BAKKT proposal, but I wouldn't be surprised if they will deny it.

Kasabus

hero member

Activity: 2814

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That's true, thanks for sharing that.

Usually I see news from different sites, like https://cointelegraph.com/ but you have a point here, because with their own blog, we can
ensure that we will get a correct and updated report. Also, I would like to site something, some people are just lazy, they want instant news, one platform that gives all the news they needed, the site that I shared is just one of the many, and it's just my choice to look at that site for news.

Kemarit

legendary

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I'm sure everyone is excited to see Bakkt Bitcoin future contracts going live. But if you wanted to see or read the latest update, I urge you to follow their official medium account, updated by their CEO, Kelly Loeffler. They posted an updated 2 days ago:

snippet:

Quote

Over the last year, we’ve worked closely with the Commodity Futures Trading Commission (CFTC) on an extensive process to obtain regulatory approval for the launch of our physically delivered bitcoin futures. While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S., where price formation will occur in federally regulated, transparent markets.

https://medium.com/bakkt-blog/progress-report-9ac2c519d262

Yeah, I know most of you grew tired of hearing when it's going to be approved because we believed that institutional money will flow to the market and push the price. So instead of just looking at crypto media for updates (most of them are just FUD or putting news without validation) just visit their blog from time to time and see how it goes.

Topic: Bakkit Update - page 2. (Read 346 times)