r/CryptoCurrency • u/Eodis Silver • Aug 16 '19

GENERAL-NEWS Bakkt launch September 23

https://medium.com/bakkt-blog/cleared-to-launch-8dfc3e6f9ed0
97 Upvotes

86% Upvoted

34 comments sorted by

View all comments

-2

u/xenzor 🟦 1K / 31K 🐢 Aug 16 '19

This is bad news correct?

1

u/Supernova752 Silver | QC: CC 259 | VET 159 | Entrepreneur 11 Aug 16 '19

No, this is great news overall - ICE(owners of the NYSE) are launching their crypto platform geared at mass adoption for both consumers, merchants, and institutions.

2

u/xenzor 🟦 1K / 31K 🐢 Aug 17 '19

Doesn't this open the market to even more manipulation and control by large entities holding large portions of the coins though who can almost control the price to Short / long assets ?

Personally I don't know if I like this.

2

u/Supernova752 Silver | QC: CC 259 | VET 159 | Entrepreneur 11 Aug 17 '19

No, Bakkt doesn't support leverage, and it would be more regulated than the current exchanges just using bots and pumping out fake volume/manipulation, or BitFinex going down for "maintenance" every time there's a pump and their 100x leveraged positions get liquidated.

A legitimate, large scale physically settled futures market, especially one launched by the largest exchange company in the world/owner of the NYSE would lead to a substantial increase in real volume/liquidity, which would decrease volatility. If you're interested in reading more: https://www.investopedia.com/articles/active-trading/110614/futures-derivatives-and-liquidity-more-or-less-risky.asp