Can't take a break more than intraday haha :) I have been daytrading a little altcoins today, that's my break. Also been working on the @dolphincontest, and just made a 50% partnership with @cryptli on @steemrat bot so got no time for holidays :)
I read your post about the futures, it will be interesting to see how they play out.
I think the CME futures do move btc price, indirectly, and read an article about this just a couple hours ago:
https://medium.com/@super.crypto1/4th-dimension-bitcoin-manipulation-cartel-can-it-be-burnt-no-way-c53de65c166a
That was one long article...I didn't read everything...but just "key points"..its interesting tbh...and I personally like reading on conspiracy theories. I don't deny that there are manipulations in markets...and what hes presented does sound very convincing.
BUT...there are differences between bitcoin futures and other futures...and that is the cash and physical settlements. I don't see him addressing that point and I don't understand the part where the Cartel transitions from BTC market to the futures market in the future. Then another difference is supply...gold and silver has "unlimited" supply..in the sense that theres still a lot of gold to be mined and I haven't heard of it drying up just yet....whereas Bitcoin has limited supply....yes it will take about 150 yrs to get the last BTC...but what I'm trying to say is if HODLers keep holding and miners do the same then "cartels" share of supply will diminish over time.
Also with Cartels...I don't think its as easy to control prices as he makes it...probably the most "famous" cartel is OPEC....and they've not been too great in controlling oil prices...One of the reasons being there are new big players like Canada and Venezeula...its kind of the same thing for BTC....anyone can mine it and trade it. Yes sure if say the Cartel owned 5M BTC...thats about 35% of the market which is huge and big enough to mess around with prices...but how about the other 65% share that consists of HODLers and non-cartel players?...
If this is getting too obvious that the Cartel is controlling things then can't investors just move onto other cryptos?...aren't there some 1,500 of them to play around with? So is the Cartel going to control all 1,500 of them?
Also just to add that BTC and some cryptos can be bought in different currencies right?...and isn't JPY and KRW the biggest for BTC right now?....futures is quoted in USD. So if say the USD BTC value dropped a lot whilst JPY and KRW rose and created a massive price difference then people might start buying in those currencies instead?
I don't know I mean the world is far more globalized now..and I'd say its not as easy to manipulate something than say even 10 years ago.
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