Is Bakkt really an overrated event?

[olumyd]

It all depends on the demand for Bitcoin, it's as simple as that. If Bakkt, ETF, Fidelity and products like that will allow a ton of investors which have been intimidated by the technological barrier to enter Bitcoin interested in buying, then the pump will be legendary, since Bitcoin is still tiny.

So as soon as all that money that has been on hold to enter comes, ATH will be achieved quickly

That's the eternal question......is there really all this hidden Wall Street demand just waiting for the right regulated security to come along? Are they really intimidated by the technological barrier?

I think I can explain that thing to you in simple words

As it is definitely not about the technological barrier (whatever you might mean by this) or anything similar. The Wall Street types are wolves and sharks, they won't engage in an activity (read, speculation) unless they will the ones earning profits. But Bitcoin is not their element as there are no futures and options, and all other derivative financial instruments which would them to use their sophisticated techniques to strip the regular trading crowd off of its money

Well, technically, there are Bitcoin futures, but I rather mean the market here like gold or crude oil (in terms of trading volume and money circulating). In simple terms, they don't want to be bagholders, and that's a rational decision on their part to stay away from Bitcoin for the time being. They will enter the market after it gets filled with money

I disagree on the part where you implied that Bitcoin trading as well as all the  introduced asset class derivatives market don't require sophisticated techniques to maneuver the pockets of the masses.

The truth is that, they don't have the required sophistication just yet (maybe that could be considered a tech barrier for what it's worth) - crypto's high and unpredictable volatility makes it hard to draw up a working protocol to that end. So, they are simply waiting and studying to know when and how to enter the market. Making the current market more like the traditional market (seen by the the introduction of the so called derivative instruments with the aim of luring institutional investors) is a poor attempt to colonize the system.

What remains to be seen is if this decentralized system can truly be colonized. Yes, we have see the possibility of centralizing the decentralized systems built on crypto systems, but colonization is one feat arguably achievable.

[FIFA worldcup]

Bakkt is very important. Of course, the price will not go to the moon.

The price did go to the moon before and guess what ?there is no bakkt that time . its just a pure demand from the public.   bakkt is not really important because it is not the only way to help the price recover  although it can somehow help a little if ever it will got accepted  as early as possible .

Maybe Bakkt is not so important in the long run but at the present moment we need some big investment and some big news like Bakkt coming in crypto currency, to be able to pull back this bear trend. This bear market is the longest one in the history of bitcoins and only big investments in bitcoin can break this trend and start the bull market.

[deisik]

I think I can explain that thing to you in simple words

As it is definitely not about the technological barrier (whatever you might mean by this) or anything similar. The Wall Street types are wolves and sharks, they won't engage in an activity (read, speculation) unless they will the ones earning profits. But Bitcoin is not their element as there are no futures and options, and all other derivative financial instruments which would them to use their sophisticated techniques to strip the regular trading crowd off of its money

Well, technically, there are Bitcoin futures, but I rather mean the market here like gold or crude oil (in terms of trading volume and money circulating). In simple terms, they don't want to be bagholders, and that's a rational decision on their part to stay away from Bitcoin for the time being. They will enter the market after it gets filled with money

I disagree on the part where you implied that Bitcoin trading as well as all the  introduced asset class derivatives market don't require sophisticated techniques to maneuver the pockets of the masses

I don't see where your disagreement applies to my post

Actually, I was telling essentially the same but looked at from another angle. And I specifically mentioned that Bitcoin is not their element where they could easily apply their sophisticated techniques to steal money from common people. That in no case should be understood in the way you (mis)interpreted my words. It is the nature of cryptocurrencies (where you can simply hold coins and wait out hardships) which makes Wall Street types powerless while their schemes useless. You can't dance on nothing (but you can try)

[gentlemand]

https://www.ccn.com/nyse-owner-bakkt-is-our-moonshot-bitcoin-bet

The whole thing is still sounding rather woolly by the sounds of that.

“It’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE typically does businesses.”

“Bakkt has its own offices, its own management team, etc. They’re well along in building out an infrastructure that I think you’ll see launch later this year.”

I'm sure this type of casualness happens all the time. It doesn't usually have a rabid audience giving it more attention than it should.

[deisik]

https://www.ccn.com/nyse-owner-bakkt-is-our-moonshot-bitcoin-bet

The whole thing is still sounding rather woolly by the sounds of that.

“It’s a bit of a moonshot bet and it’s been organized in a manner that is very different than the way ICE typically does businesses.”

“Bakkt has its own offices, its own management team, etc. They’re well along in building out an infrastructure that I think you’ll see launch later this year.”

I'm sure this type of casualness happens all the time. It doesn't usually have a rabid audience giving it more attention than it should

People are desperate for positive news

Though it is not something which you would want to hear from a SEC member (if you were to remain neutral). I don't know about their internal policies which should be followed in such matters but he might well be abusing them. Basically, he expresses his opinion (provided you posted his words verbatim) is such a way as if he were making an assertion like "I assure you Bakkt will be launched this year". Just think how his words will sound if Bakkt isn't launched this year (or any other year)

[eaLiTy]

This month, Bakkt implementation will push through or maybe not as what they always do(postpone it) and I see lot of people talked about how it affects the price. Question is will it really make the price soar/higher or this is just an overrated assumption?

I am not sure when they are launching as it keeps on delaying as the dead line reaches and i am not sure when they will be able to launch it, but the initiative is a great one, if they can built a global infrastructure which could connect everybody and if it is a good front end system which can be used by any novice user, then it will be a great success, there are a lot of developments yet to come in this market and hopefully we will see some rapid changes in the next few years.

[deisik]

This month, Bakkt implementation will push through or maybe not as what they always do(postpone it) and I see lot of people talked about how it affects the price. Question is will it really make the price soar/higher or this is just an overrated assumption?

I am not sure when they are launching as it keeps on delaying as the dead line reaches and i am not sure when they will be able to launch it, but the initiative is a great one, if they can built a global infrastructure which could connect everybody and if it is a good front end system which can be used by any novice user, then it will be a great success, there are a lot of developments yet to come in this market and hopefully we will see some rapid changes in the next few years

And while we are at it, I have a few questions regarding Bakkt

As I got it, Bakkt can be a game-changer and as such it involves a lot of effort in building the platform (given how much its launch gets postponed). Obviously, the engineers building it should have a thorough understanding of Bitcoin intricacies and technicalities, how it works in general and in particular. But when you are deeply involved in some project, you will inevitably find a lot of shortcomings or even pitfalls, which you would want fixed or removed

So did anyone from the Bakkt development team contact Bitcoin developers regarding adding or changing things in Bitcoin in some way? Somehow you would expect this from the project that big. Or are they contacting in private to keep things in secrecy?