Bitcoin arrives on Wall Street: S&P Dow Jones launching crypto indexes in 2021

idrisalomagold

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Quote from: hatshepsut93 on December 04, 2020, 10:36:36 PM

Quote from: berkeozkn on December 03, 2020, 01:19:42 PM

I can't share a link because I'm new to the forum. If you need the source, search the line of first message on internet. Im worried about bitcoin because wall street can be manipulate Bitcoin in the next years. Creating chaos by selling non-existent bitcoins only in the form of a contract. This is against the very nature of bitcoin and can turn everything upside down. Although it seems to be positive in the short term.

If all it takes to stop Bitcoin is to trade Bitcoin derivatives on traditional platforms, then Bitcoin isn't as resilient, or like some people say "antifragile", as some people though. But I don't believe that neither the Wall Street traders are going to manipulate it any more than the current crypto players are doing so, or that this would cause some irreparable harm. All the additional liquidity can offset the new manipulation, if there will be such thing, so it could be a net positive for Bitcoin markets.

I agree, bitcoin as a derivative isn't as resilient as we thought. It is like the other financial instrument in the market that can be manipulated either by force. However , this in fact the reality of todays bitcoin market. Traditional financial institution will flood the market the soonest possible. And i think, it is yet in the making.

Mejoress

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If it is true is one of the best news for bitcoin, but adding 550 cryptos does not seem real

hatshepsut93

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Quote from: berkeozkn on December 03, 2020, 01:19:42 PM

I can't share a link because I'm new to the forum. If you need the source, search the line of first message on internet. Im worried about bitcoin because wall street can be manipulate Bitcoin in the next years. Creating chaos by selling non-existent bitcoins only in the form of a contract. This is against the very nature of bitcoin and can turn everything upside down. Although it seems to be positive in the short term.

If all it takes to stop Bitcoin is to trade Bitcoin derivatives on traditional platforms, then Bitcoin isn't as resilient, or like some people say "antifragile", as some people though. But I don't believe that neither the Wall Street traders are going to manipulate it any more than the current crypto players are doing so, or that this would cause some irreparable harm. All the additional liquidity can offset the new manipulation, if there will be such thing, so it could be a net positive for Bitcoin markets.

Fundamentals Of

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Quote from: berkeozkn on December 03, 2020, 10:40:33 AM

I think this is negative for bitcoin. I wonder what you guys think about this topic.

Why negative for Bitcoin? Many people are dreaming for this to finally happen to Bitcoin, that the money of institutional investors will come flowing in large amounts and that this will catapult Bitcoin's price at levels never been imagined before. This might be it.

But this will also somehow finally classify Bitcoin as an asset class more than anything else, but definitely not a currency. Wall Street people are probably just looking at Bitcoin as just another option for a portion of their wealth to be invested on.

mrob82

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I feel deep down this is going to be positive and negative. The positive are going to be more exposure to cryptocurrency and more "average" investors are going to participate (I hate using the term retail investor). This is going to allow people that are lazy and don't want to learn about the true purpose of cryptocurrency to call their broker and say hey, buy some of that ETF, or just do it on their own.

The true theory behind whether this will increase BTC manipulation will depend on the answer to the following question: Is this going to be an optionable ETF. If the answer is no, then there could be manipulation but it will be longer term manipulation. If the answer is yes, KD bar the damn door. Crypto investors that don't play heavily in the stock market, bond market, or strictly option market; haven't seen manipulation yet.

From what I'm hearing, nothing confirmed, this will turn into an optionable ETF. If it does, hang on for the ride because it is going to be crazy. People think BTC dropping 5% in day is crazy, wait until they start seeing 30-40% moves in hours because of the options.

DoublerHunter

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Quote from: Wind_FURY on December 04, 2020, 04:42:23 AM

YES! This is NOT good news.

^ Definitely right, it is really bad news and I may also consider that they are already trying to manipulate bitcoin by bringing up another 550 coins by next year. It may not appear that it has no direct impact with bitcoin but by having these other coins which could be an alternative, people may tend to seek an option if bitcoin's price will continuously be increased and if that will happen investors may be divided and the price can possibly dump which could weaken bitcoin. Probably, this is a form of conspiracy from someone or a group of people who wants to vanquish bitcoin by providing tons of available options and later will plummet as well in their own phase.

Tytanowy Janusz

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So it looks like it is indeed truth. Well... I'm in crypto for more than 3 years (ICO bubble, defi bubble) and i would really have a problem to name 20 coins that are worth to be part of such index (are not ment to die in next few years, are not pump and dump scams, have any fundamental value). So it will be interesting to see what 500 coins would they chose.

Good part of it is that if this index will be well balanced its price won't be changing much different from bitcoin price change. Altcoins mostly fallow bitcoin .. if you add to this that this index will be build with bitcon, eth in majority you get pretty much BTC with multiplied/divided by 1.1 depends on if we have alt season or not.

If its bad? Well its nothing for bitcoin. Just another way to invest. We have thousands of the and I doubt that is there a single person that would like to participate but need special index.

chretienm

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I don't think it's good news either, it's good news for greedy wolves of Wall street as they smell the profit and probably ready to promote shitcoins as a new kind of junk or penny stocks and then dump them.

Quote from: Wind_FURY on December 04, 2020, 04:42:23 AM

Quote from: berkeozkn on December 03, 2020, 10:40:33 AM

In the latest big move to incorporate crypto by traditional finance, 550 coins will appear in the new indexes from next year. S&P Dow Jones Indices (S&P DJI), a joint venture between S&P Global, the CME Group and News Corp, will debut cryptocurrency indexes in 2021, it has confirmed. In a press release on Dec. 3, S&P Dow Jones Indices described Bitcoin and altcoins as an “emerging asset class.”

I think this is negative for bitcoin. I wonder what you guys think about this topic.

YES! This is NOT good news. Of the 550 coins to appear in those new indices, we all know that more than 99% of those cryptocurrencies are shitcoins.

Plus what would the Bitcoin POW index be composed of? It will be laughable.

Wind_FURY

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Quote from: berkeozkn on December 03, 2020, 10:40:33 AM

In the latest big move to incorporate crypto by traditional finance, 550 coins will appear in the new indexes from next year. S&P Dow Jones Indices (S&P DJI), a joint venture between S&P Global, the CME Group and News Corp, will debut cryptocurrency indexes in 2021, it has confirmed. In a press release on Dec. 3, S&P Dow Jones Indices described Bitcoin and altcoins as an “emerging asset class.”

I think this is negative for bitcoin. I wonder what you guys think about this topic.

YES! This is NOT good news. Of the 550 coins to appear in those new indices, we all know that more than 99% of those cryptocurrencies are shitcoins.

Plus what would the Bitcoin POW index be composed of? It will be laughable.

tabas

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Quote from: berkeozkn on December 03, 2020, 01:19:42 PM

Im worried about bitcoin because wall street can be manipulate Bitcoin in the next years. Creating chaos by selling non-existent bitcoins only in the form of a contract. This is against the very nature of bitcoin and can turn everything upside down. Although it seems to be positive in the short term.

PayPal is doing it already. Selling bitcoins and won't be able to send outside their platform. Your worry is legit IMO. But as year passes by, investors are becoming more intelligent.
They get to understand what would be on those indices and the actual bitcoin that they can hold, send and receive.

Baofeng

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Here's the link:

https://cointelegraph.com/news/bitcoin-arrives-on-wall-street-s-p-dow-jones-launching-crypto-indexes-in-2021

I thought that bitcoin has been manipulated by big whales already? Not the first time that we have heard Wall Street involving themselves in crypto. I agree that there are a lot of pros/cons about it, but let's see how it pan out. People are predicting that we are going to see $50k or even 6 digit figures in the next coming years. So probably this is one case why and how we can achieved that. Wall Street money going into crypto sphere.

berkeozkn

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Quote from: Tytanowy Janusz on December 03, 2020, 12:18:33 PM

Any link? Source of this thing? I doubt that 550 coins will be there. There are like few legit projects, rest of CMC are scams but to the point. Why you see it negative for bitcoin?

I can't share a link because I'm new to the forum. If you need the source, search the line of first message on internet. Im worried about bitcoin because wall street can be manipulate Bitcoin in the next years. Creating chaos by selling non-existent bitcoins only in the form of a contract. This is against the very nature of bitcoin and can turn everything upside down. Although it seems to be positive in the short term.

Tytanowy Janusz

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Any link? Source of this thing? I doubt that 550 coins will be there. There are like few legit projects, rest of CMC are scams but to the point. Why you see it negative for bitcoin?

berkeozkn

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In the latest big move to incorporate crypto by traditional finance, 550 coins will appear in the new indexes from next year. S&P Dow Jones Indices (S&P DJI), a joint venture between S&P Global, the CME Group and News Corp, will debut cryptocurrency indexes in 2021, it has confirmed. In a press release on Dec. 3, S&P Dow Jones Indices described Bitcoin and altcoins as an “emerging asset class.”

I think this is negative for bitcoin. I wonder what you guys think about this topic.

Topic: Bitcoin arrives on Wall Street: S&P Dow Jones launching crypto indexes in 2021 (Read 231 times)