Bitcoin Futures, they were introduced early this year, and were hailed as an investment vehicle that would legitimize cryptocurrency. Since the launch of the first Bitcoin futures in December of 2017, the price has been getting demolished. CME Futures and CBOE Futures are cash backed and settled, they are a paper ponzi scheme created to make the exchanges rich, while the holders of the asset suffer. With Bakkt and Nasdaq launching futures early next year, we need to demand these be bitcoin backed and settled. If not, Bitcoin is going to have a rough go of things, just like other commodities who have been targeted with futures markets: Gold, Silver, and Uranium.
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⏰ Time Stamps ⏰
00:08 Beer Intro Bolten’s Landbier-Germany
00:45 Bitcoin Futures Launched Last Year
01:10 What Are Futures Contracts?
01:38 What Are Bitcoin Futures Contracts?
01:54 CBOE Launches First Bitcoin Future-December ’17
02:09 CME Launches Second Bitcoin Future-December ’17
02:32 What Happened After They Launched? Crash!!!!
03:18 Banks Own America-The Printing Of USD and Buying Of Bonds
04:07 USD Starts Losing Value To Gold
04:37 Gold Futures Launched By CME In 2011
05:06 Government and CME Creating Naked Gold Future Contracts
06:13 Venezuela and Germany Asking For Gold Back
06:57 Silver and Uranium Have Had Futures Launched Against Them
07:26 CME Group Chairman “We Will Tame Bitcoin”
07:49 We Need Bitcoin Backed Futures Not Cash Backed!!
09:01 Bakkt Needs To Be Physically Backed!
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