Bitcoin Forum

What is the big issue with BAKKT? Since those big players that want to buy already owns bitcoin.

well if you can buy real bitcoin that can be withdrawn to a bitcoin address.. and not just an ETF-esq share scheme.. then bakkt can become a big deal

reasons:
1. unlike ETF's which are KYC heavy and aimed at just the market traders with certain level of deposits. Bakkt will be aimed at people that are regular shoppers/consumers

2. Bakkt will be aimed at people that just wanna buy some at their local coffee shop. thus instantly create a "buy nearby" market for most towns in many countries. (that have a starbucks)

3.imagine it as accessible as facebook credits are compared to the hassle of buying gold shares

what do you mean by point 2? that it will be some instant pay with fiat and it goes via crypto or what else?  :o

Absolutely big deal.

Yep, it's a big deal.
This will give you an idea - What Is Bakkt & How Will it Change the Cryptocurrency World? (https://blockonomi.com/what-is-bakkt/)

its a project done by starbucks and microsoft. so imagine it as a everyday, normal people thing. and not something that wall street whales only have access to.

I'm wondering where are you trolls coming from. If you're so negative about Bitcoin and cryptocurrencies maybe you should allocate your precious time elsewhere.

Yes, Bakkt is a big deal. Not all big players who want more coins already own some. Many people are still waiting for a more regulated market with some Wall Street giants stabilizing it. It's also aimed at making cryptocurrencies easy and accessible.

exactly---it may not be a big deal at all. the existence of physically delivered futures doesn't magically create demand for bitcoins.

the question is: are institutions really waiting for a custody solution like bakkt and physically delivered futures before investing? why would that be? robust custody solutions and a liquid spot/OTC market already exists today!

so i'm skeptical of this idea that "if you build it, they will come". if big players want exposure to bitcoin, they don't need bakkt (or an ETF for that matter).

One of the biggest drawbacks of crypto is the complexity actually getting it, and then spending it afterwards. See how much you can get by using a paypal account for an easy transaction. If this can be overcome then more people will gain a larger interest in crypto and the market will grow

I believe it will make the usage of bitcoin in real life easier and this makes BAkkt a big deal and at this point there couldn't have been a better news for bitcoin which I hope will bring onboard more investors and rekindle the older ones.

More liquidity attracts larger institutional money

I have never heard about it. I think that only btc and ether are coints that are worth of my attention. To my mind, it is better to use these coins for the long-term keep as well and you will be able to earn much

though ETF's will be selling shares and not letting user hold actual btc.
what most people are salivating over is that successful ETF's have to lock up a hoard of coin before they begin

imagine the winklevoss with their 200k hoard. if they get their ETF accepted under a new draft thats acceptable. we will then see other companies buy up 200k+ hoards and then apply using a similar template that would too be accepted. (many companies ar waiting for first acceptance so that they can save money not applying until they se a template that works)

and if you look at real bitcoin exchanges. they only do 5-30k btc volume (lets call it 5k of individual coins being held and re-spun (arbitraged /rinsed and repeated) a day. so sudden buyups of 200k. is a big deal

knowing there is only 10mill coins that actually move regular. thats only the oppertunity for 50(max, but more realistic only 20 because users wont sell off to ETF).. so thats only an oppertunity of 20 ETF's to realistically boot up with 200k bitcoin baskets

so thats a huge chunk of coin locked into ETF causing the real bitcoin exchange market to jump in price... once the first ETF gets acceptance and then causes a snowball effect of upto 20 other ETF to follow the template to start up themselves..

as for bakkt. well we will see as its a hybrid model and yet to see the regulators poke at it

I believe it is a good deal for the world of cryptocurrency as huge institutions with good number of followers can propagate bitcoin to higher levels with huge acceptance as they adopt bitcoin.

bakkt = centralized bitcoin


if you want the bitcoin to be more centralized every day it supports bakkt

if you still believe in the idea of satoshi nakamoto and a decentralized currency do not support bakkt
you are on time



a bank has 100 clients
each client has 10 dollars
in total those all customers have 1000 dollars
but nevertheless the bank only has 100 dollars
If all your customers at the same time ask to withdraw their dollars, the bank will not have to pay them because it only has 100 dollars, so the banks work

with bakkt the same thing will happen, there will be 100 customers with 10 btc each
but bakkt in your vault will only have 100 btc of clients

if all your customers ask to withdraw btc at the same time those of bakkt will not have to pay all those bitcoins

bitcoin is blockchain

bitcoin is not bakkt

bakkt a scam

there is that angle, but i've always figured the winklevoss and solidx trusts were already funded. it seems silly to apply for an ETF, get SEC approval, and then acquire 200k BTC on the open market. we might only see one physically backed ETF on the market too.

many of the ETF applications this year were only futures-based as well (no physical backing with BTC).


they're planning to offer bitcoin futures with physical settlement. i'm not sure if that means they need affirmative CFTC approval like ledgerx, or if they can just self-certify and launch like the CBOE did. either way, it sounds easier than with an ETF.

I've read a lot about BAKKT. No one had told you as beautifully as you described in these 3 chapters. BAKKT is a different solution and I think it will add value to the crypts. Thanks.

they are.. but im not talking about the ones tha are wasting money already, by applying.. im taking about once the first mover advantage is over. then NEW applicants will buy up hoards and apply using the template that works because they seen previous applicants use such to get approval

its like why waste $10k going to university. when you can just wait it out and see loads of people release FREE tuition videos on youtube. why waste mony going to a new cocktail bar and finding a gross drink. get ur friend to try it first and then buy the one that didnt make him do a cringe-face

that said.. like i was pointing out. once one is acceptable. you will see others suddenly jump in and apply and buy up baskets of btc when applying. and thats what most bitcoiners that salivate over ETF.. because they see lots of institutions grab up btc

lastly if it doesnt hold equity in trust. its not a ETF. if its just a futures market. then its just a gambling house(in laymans terms)

Bakkt has come to the market with a lot of potential and promisesm. It has a promise of making the use of Bitcoin easier for everyday use. This can be attempting and thus it can attract the attention of a lot of investors. Hopefully, it will be true to his promise.

Baakt is promising so many features and facilities which would be better for the investors. Also it is developed by Starbucks and Microsoft, so it would undoubtedly be something worth checking for.

i think Bakkt is made bigger in people's head that it really is. it may end up being a big thing eventually but at this point with the information that we have gained so far from this project we can not decide on it. so for now everything that we hear is mostly hype about it.

Nah, it is a pretty big deal, but for the wrong reasons. We will just have another big centralized company, jumping into this scene and they will destroy anonymity even further, because all the people using this service will be identified with strict KYC/AML requirements. 

You not going to trade/buy bitcoins anonymously, because these platforms cannot exist without the US enforcing these KYC/AML regulations. So, they allow this with a lot of conditions and this is where it all goes pear shaped.  >:(

BAKKT is probably going to be a big deal. BAKKT is going to bring a lot of investments into the market.  They have a plan to do something special which can attract a big number of potential investors.

I would not say that all the players who want to buy it have already bought it. A lot of big players have not yet entered the market only because they are waiting for regulation and I am sure that after accepting all this we will be able to count on the bulls to return again

Yes,it's a big deal. The number of places where you can cash out a lot of different cryptocurrencies will only grow. Many people are still waiting for a more regulated market with some Wall Street giants stabilizing it.

I think that with the advent of Bakkt, large capital from institutional investors will enter the market. In fact, not a lot of big players own a large amount of bitcoin.

Am actually curious how does BAKKT work in a "dummy 101" way, whether it will be really that easy...

Bakkt could be a big deal in the future. A regulated currency in the unregulated space could make a big difference. The difference is most likely to be positive.

Bakkt is being backed up by very big industries of the modern world like starbucks and microsoft. And I think bakkt will help us to use bitcoin for payment in our day to day life much easier.

If you look at the big names behind bakkt, it will be evident to you why its big a deal. Bakkt aims to serve all levels ranging from dummy to mega corporations in cryptoworld.

Even with all good news the price has been going sideways for a long time.  It looks like more manipulation to keep the price down.  Billions of dollars are being spent on new exchanges, mining farms, and other crypto platforms.  Its clear that bitcoin will reach new all time highs if we just hold and don't panic sell from the FUD.

I'm okay with that. We have to expect regulated markets to develop if Bitcoin adoption continues on its current trajectory. If there is demand from traditional and institutional investors, the big guys like the ICE and CME Group are going to want to profit from that. There's no way around it.

If you want to trade without KYC/AML, you can stick to decentralized, P2P and offshore exchanges. I don't think Wall Street is that interested in those. ;)

Yes, of course, the opening of such a platform is a huge signal for the growth of the price of Bitcoin and I think that after the launch of baккt we will see a turn of the market and the arrival of bulls

i thonk yes its a big deal, because it allows traditional investors and ordinary people to invest into cryypto since it is heavily regulated by the sec, and it will create a chain effect that other financial institution might follow bakkt footstep and establish thier own cryptofinacial firm in the future.

I don't know much about BAKKT as for me no coins exist besides BTC and ether which are the most popular coins ever and i consider them the profitable investment that can bring much