Unless Bitcoin proves itself as an established means of payment, all its derivatives will be irrelevant. Derivatives are deriving their value from real value of an asset. It can be said that they are exploiting this value or even abusing it (see oil as an example). But if there is no such value as is in case of Bitcoin (well, at least not to a required degree), its derivatives will have no such support of the solid underlying asset. You can build a home only on a firm base as otherwise it will be a house of cards built on another house of cards. Besides, as others and I have previously said on numerous occasions, cash-settled derivatives are not an instrument of influencing the price of the underlying asset simply because there is no underlying asset, only its price across the market
In other words, can the tail wag the dog if this tail belongs to another dog?