Bitcoin Forum

I have a theory that I wanted to share. It has come out in some news articles that some of the biggest banks have been trying to push for a postponement of the CBOE future (trading from sunday). Why would banks try to postpone from the futures getting into trading.
The official explanation is because of a risk coming from clearing houses not clearing trades right away, which with the current price fluctuations can have some impact, also on the banks.
BUT, could there be another explanation? I believe that banks are afraid of the futures will be the start of mass-adoption of holding cryptocurrencies. Banks are afraid of this for several reasons:
- once crypto becomes a way of storing wealth for 'normal' people, banks will loose this function
- banks do not have an infrastructure right now, to actually make the adoption of crypto to a benefit for themselves
- when crypto gets mass-adopted, the same do the blockchain as a technology. And not just blockchain, but public blockchains. If public blockchains becomes mass-adopted, there will suddenly be more things to it, than just people holding crypto. Because banks and large institutions are right now trying to have private blockchains, facilitating the function of public blockchains, so that they can convince people that they have a more safe solution, but still as effective. This will help them maintain their power as a central authority, which is what they are trying to obtain.
So, if the futures were to be postponed say 6 month, banks just bought themselves time to come that mass-adoption of crypto in the forestall.

That's a quite a wall of text. Try adding some line breaks.

A sensible theory though. Stalling techniques are widely used by slow moving companies. I wonder how long CME, CBOE and Goldman Sachs have been preparing for this event.

I don't think that will happen. I haven't heard that futures launch is going to be postponed, so I'm assuming that for better or for worse, this will happen tomorrow as predicted (CBOE first, and then CME on the 18th). Whales have a great opportunity to make money with bitcoin, and that means banks can make money as well, and they probably will. This is all just talk, because I'm sure they are also going to "play" with bitcoin. Also, bitcoin will only pose a real threat to banks when the lightning network gets deployed. Until then, BTC will behave as gold, and as an asset, so they should be fine, since they will still control fiat, and that is still going to be the payment method used around the world.