Topic: Ex Goldman Director Launches Bitcoin Derivatives Brokerage (Read 1571 times)
The banks and the FED colude to manipulate precious metals through deriveratives, whi is this different and obviously just as bad?
this is really good news , will probably get more followers to the bitcoin scene because of this , and ofcourse more gold intrested peeps
Question is at what point is there enough critical mass in the ecosystem for the Wall Street follower types to wade into btc
I wouldn't look for this to bring a lot of Wall Street followers that know what they're doing. I've had sunburns that lasted longer than this Timo Schlaefer's career. Bitcoin is almost as old as his work life. He's only worked for one company in his life, Goldman Sachs, and four years of that was as a college intern.
Question is at what point is there enough critical mass in the ecosystem for the Wall Street follower types to wade into btc
"Our Forward is probably the simplest and most effective tool out there to protect yourself against bitcoin volatility. If you want to lock in the value of one bitcoin, you sell one Forward - that's it. At the same time our market is extremely robust and secure. There is no central counterparty and all portfolios are marked to our proprietary bitcoin price indices,"
Seriously I don't know whether I should take this as a good news or bad news. While it opens up possibilities or would rather say opportunities to have new investors getting into bitcoin pretty quick, what I worry is that when there is too much fund pouring in, the price will go up very fast....in fact toooo fast. If it can go up fast, it can also go down at similar speed or rate. I just hope that is not the case.
Take it as good news, derivatives can have a price smooting effect since you do not have to trade the underlying directly. And they provide protection against price volatility without having to sell the underlying.
Seriously I don't know whether I should take this as a good news or bad news. While it opens up possibilities or would rather say opportunities to have new investors getting into bitcoin pretty quick, what I worry is that when there is too much fund pouring in, the price will go up very fast....in fact toooo fast. If it can go up fast, it can also go down at similar speed or rate. I just hope that is not the case.
Crypto Facilities Co-Founder here, ask me anything!
Looks like good news to me. Should allow more wall street hedge funds to get bitcoin exposure while staying within all their risk management parameters and settlement systems.
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