Reddit - I work for a professional crypto trading firm. Ask me (almost) anything

[gentlemand]

https://www.reddit.com/r/BitcoinMarkets/comments/93zypc/i_work_for_a_professional_crypto_trading_firm_ask/

This is the type of thread that addresses questions that pop up here fairly regularly. This bloke has been verified by the forum mod and he works for a professional crypto trading firm.

Some choice ones -

Q-  what's the consensus on trading privacy focused cryptocurrencies that can't be traced back to previous transactions.

A- This is my personal opinion and many at my work dont share it, but i think the privacy coins are going to be a problem. The biggest, easiest thing for the uninformed to parrot is that crypto is used for crime (listen to some of these senate hearings). I can see the privacy coins coming into the cross hairs when they start regulating more, and i think they might get targeted.

Being unable to track your funds is a no go in finance, you have some obligations from an AML standpoint. People are uncomfortable with this


Q- Is the institutional money going to come in soon or is it already in (tinfoil)?

A - It is not here. There are a ton of barriers to entry for them right now, not to mention risk.


Q - Where do you see the state of the Bitcoin market in 2-3 years, specifically with regards to investment from institutions like the one you work for?

A - I think there will need to be a huge amount of regulation to take place. This doesnt mean anything in particular but someone needs to set the rules so people know how to proceed. There is a lot of friction right now and companies dont know the rules of the game so things arent developing as quickly.

I think if the government irons out how to proceed, we can get more robust products (ETFs, options, etc) and the space can grow quickly. If they dont, we stagnate.


Q - Assume the statement got out that BTC ETF is approved. What do you think will show as the direct impact of that in the markets in the next 6-12 months?

A - It would be big. It would kick start a good amount of business to flow not to mention the bullish retail impact


Get your tight buns on there and ask some more.

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[Biodom]

I found most of his utterances vanilla type and not very interesting.
With a few exceptions:

Dumptruckpancakes
Long-term Holder3 points ·
4 hours ago

Do you know if institutions are planning any attacks on the bitcoin network? If so, could you tell us about such plans? Any particular competing networks or coins being used?
level 2
InstitutionThrowAway
Large Institutional Trader
8 points ·
4 hours ago

I doubt any 'institutions' would do that. When I say that word, I mean US companies who do this for their main source of business. Manipulators would probably be more on the criminal, shady or cabal level. Not company would put themselves in the crosshairs to be made an example of.
level 3
Dumptruckpancakes
Long-term Holder2 points ·
3 hours ago

Thank you, as a more concise follow up: Do you know if your company is planning on using any specific alt or aggregate of alts to profit off of bitcoin losing its current position as #1 crypto? Y/N will work for this. Thanks again
level 4
InstitutionThrowAway
Large Institutional Trader
3 points ·
3 hours ago

Not specifically, but I know the idea gets discussed, could change