Bakkt Update: Clients can now make a warehouse deposit starting on Sept 6

Slow death

legendary

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Quote from: Baofeng on August 28, 2019, 07:35:35 PM

Ok so next week we will finally see how Bakkt can really affect the price of bitcoin (positive or negative).

From September 23 we will see how the entry of BAKKT will affect the price. I believe that if BAKKT is a success it will attract a lot of investors and maybe it will make governments and regulators look at this market as something that might be good. Having large companies involved in the crypto market will make governments look at this market with good eyes.

Quote from: Baofeng on August 30, 2019, 04:40:51 AM

I'm also not a fan, but it will definitely help a lot on bitcoin to gain confidence to those institutional investors who are waiting and willing to pour their cash on the ecosystem.

I also hope this happens. Because if we have a lot of big companies involved with bitcoin, eventually governments will take a good stance on bitcoin. Some news channels always say that bitcoin is used for money laundering, but if we have big reputable companies involved with bitcoin, it will make bitcoin's image very good.

dothebeats

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We'll never see until we're there. Bakkt has been teasing the community for over a year now and it seems like they are doing this again, but at least they have a clear date on the launch of some of their services. I still believe that this isn't the final launch date that we have on Bakkt and it's still subject to changes, knowing how unstable everything is on their promises and no commitment to their promised date whatsoever. They still bring in a lot of hype in them, so that's something.

Baofeng

legendary

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Ok so it still looks like 50/50 up to this point. We may have to wait a bit longer to see the effect. I'm also not a fan, but it will definitely help a lot on bitcoin to gain confidence to those institutional investors who are waiting and willing to pour their cash on the ecosystem. I agree that we get tired of hearing about Bakkt launched, but I still optimistic that maybe investors are going to renew their interest, after a year of hype.

pooya87

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i don't think there is anything negative about Bakkt, but at the same time i think it is over hyped more than it really is. not a big fan of Futures either but in the past news like this had always led to more confidence in the market and helped with the rise.
considering the current situation, this may actually be the drop to get ready for that upcoming rise next week so that whales could accurate more bitcoins at a cheaper price that they could normally do (meaning $9k instead of $10.5k).

arpon11

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Quote from: dporn on August 29, 2019, 11:53:12 PM

Quote from: Kemarit on August 29, 2019, 06:09:34 PM

Hmm, and the moment Bakkt announced this one, the market suddenly went down. Don't want to assume some correlation but it seems that this news didn't affect the price as expected. We have been hype about this since last year, but then too many delays (to be fair, its not within their control) cause investors to 'wear out' and get exhausted because of the long wait. Are they willing to renew their interest, could be, but at this point investors are using a 'wait-and-see" approach here.

I'm pretty sure everyone wants to get their coins cheap before it Bitcoin moons to new highs shortly.

Maybe the current correction is a sign to get bitcoin cheap by those that wish to get bitcoin and invest the same in future contracts. BAKKT has not impact bitcoin price positively most of us expect serious pump since the announcement and that has not happened but I believe when BAKKT started to take the full deposits of bitcoin in their warehouse we should be able to see bitcoin mooning!

dporn

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Quote from: Kemarit on August 29, 2019, 06:09:34 PM

Hmm, and the moment Bakkt announced this one, the market suddenly went down. Don't want to assume some correlation but it seems that this news didn't affect the price as expected. We have been hype about this since last year, but then too many delays (to be fair, its not within their control) cause investors to 'wear out' and get exhausted because of the long wait. Are they willing to renew their interest, could be, but at this point investors are using a 'wait-and-see" approach here.

I'm pretty sure everyone wants to get their coins cheap before it Bitcoin moons to new highs shortly.

Kemarit

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Hmm, and the moment Bakkt announced this one, the market suddenly went down. Don't want to assume some correlation but it seems that this news didn't affect the price as expected. We have been hype about this since last year, but then too many delays (to be fair, its not within their control) cause investors to 'wear out' and get exhausted because of the long wait. Are they willing to renew their interest, could be, but at this point investors are using a 'wait-and-see" approach here.

stompix

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Quote from: Baofeng on August 28, 2019, 07:35:35 PM

Ok so next week we will finally see how Bakkt can really affect the price of bitcoin (positive or negative). Here the contract is physically delivered, customers are given the actually bitcoin when the contract expires as opposed to cash settlements being offered by CME and CBoE.

Negatively I don't see how it would be possible, but honestly, I think nothing will happen.
Just look at the current situation, the news was announced and the market is all in red, not showing any signs of reacting positively.

I think that people have grown tired of all those "big things" coming, and probably the ltc having was the best example of how you shouldn't bet on some events just because they've happened in the past. In a way is like antibiotics, the more you take over years the less and less effect they will have. So are that news, I got tired a long time about constantly hearing about Bakkt like the second coming of Jesus.

Quote from: Coyster on August 29, 2019, 12:15:01 AM

The fact that customers are given bitcoin, and not fiat is a very good strategy. It increases the number of individuals who would own bitcoins as at when the contract expires,and this would improve adoption status and the price would no doubt go up.

Not entirely true, you have bitcoins, but they still have control over them, just like a bank account.
They get hacked or "hacked", you have nothing.

Miklight88

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GDZKVBV3L3JU5TFDBWMUMPZAHD3OSM2I3TAJRWPG7KU5U4UZCI

We have been waiting for long but this update is not real to.me until we see the rolling operation kick start , that is when I will be believe they are ready for business and that is what makes many think btc dominance high but to me it isn't the reason but we are going to see what will be the next level when kick start by that date.

Jating

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Quote from: avikz on August 28, 2019, 10:49:18 PM

Bakkt's futures contracts can do real wonder in this market looking for stimulus. I remember a lot of people discussing the same when CME futures was being announced in the market, but it failed to provide the necessary stimulus because the contracts were cash settled without any physical bitcoins coming into play. This situation is definitely going to change with Bakkt's platform.

And at that time, CME and CBoE bitcoin future contracts did wonders do the market, but it was short lived though. When people realised that it is cash settled, although it was a first of its kind to see this kind of offering that's why investors suddenly rush to the scene.

Quote from: avikz on August 28, 2019, 10:49:18 PM

We all know, adoption is the key to bitcoin's growth and I surely hope Bakkt will take the game to the next level with it physically settled bitcoin contract in a regulated environment. Wonder waiting to happen? Probably yes!

We will see about that, again we have been waiting for Bakkt and hope that this could be another catalyst before the halving event.

Kakmakr

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I do see the need for "newbies" to Crypto currencies, to have centralized organizations storing coins on their behalf, because it is much more convenient and also a lot safer, but the down side of this is still the fact that centralized control over your coins, might be dangerous in the future.

The ideal scenario would be for customers to control their own coins, but most traders do not want that responsibility and hassles associated with that. Roll Eyes

Coyster

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I think bakkts arrival has been long overdue and next week the wait will be over, I have always been in support of bakkt and what it will offer to this bitcoin network in terms of increase in price and adoption and with this new set up they intend to arrive with, I have no doubt the impact would be great

The fact that customers are given bitcoin, and not fiat is a very good strategy. It increases the number of individuals who would own bitcoins as at when the contract expires,and this would improve adoption status and the price would no doubt go up.

avikz

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Bakkt's futures contracts can do real wonder in this market looking for stimulus. I remember a lot of people discussing the same when CME futures was being announced in the market, but it failed to provide the necessary stimulus because the contracts were cash settled without any physical bitcoins coming into play. This situation is definitely going to change with Bakkt's platform.

We all know, adoption is the key to bitcoin's growth and I surely hope Bakkt will take the game to the next level with it physically settled bitcoin contract in a regulated environment. Wonder waiting to happen? Probably yes!

Baofeng

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https://twitter.com/Bakkt/status/1166743438332743685?s=20

Ok so next week we will finally see how Bakkt can really affect the price of bitcoin (positive or negative). Here the contract is physically delivered, customers are given the actually bitcoin when the contract expires as opposed to cash settlements being offered by CME and CBoE.

Topic: Bakkt Update: Clients can now make a warehouse deposit starting on Sept 6 (Read 245 times)