BAKKT big deal?

[SiverSurfer]

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

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[franky1]

well if you can buy real bitcoin that can be withdrawn to a bitcoin address..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

[BQ]

well if you can buy real bitcoin that can be withdrawn to a bitcoin address..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? 

[ngm22585]

Absolutely big deal.

[tabas]

Yep, it's a big deal.
This will give you an idea - What Is Bakkt & How Will it Change the Cryptocurrency World?

[franky1]

well if you can buy real bitcoin that can be withdrawn to a bitcoin address..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?  

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.

[pixie85]

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

Over time, the number of places where you can cash out a lot of different cryptocurrencies will only grow. The collapse will be for sure, but the number of suckers on the planet seems to be very large, so who knows how soon.

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.

[figmentofmyass]

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

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).

[5ensei]

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

[megynacuna]

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.

[ngm22585]

More liquidity attracts larger institutional money

[cxmyifan16]

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

[franky1]

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).

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

[rosemary4u]

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.

[arranka]

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

[figmentofmyass]

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).

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)

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).

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

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.

[koincik]

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

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.

[franky1]

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).

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)

there is that angle, but i've always figured the winklevoss and solidx trusts were already funded.

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)

[Ingrid Bailey]

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.

[Angelique Donovan]

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.