Maybe I missed something with regards to futures, but I think crypto was much better off before futures, that being for the masses at least, they came in sold contracts then shorted BTC, then pumped the price up, giving a false sense of growth and the masses who knew little to nothing about crypto thought they were missing out and ended up plowing all their cash in at the highest prices, after which they pulled the rug "stole" all the masses money to bring the price right back down to where they shorted it and then cashed in on the contracts?@jrcornel
Granted people should have known better but that is what happened at grassroots level the masses got a bout of Fomo and jumped in at 20k only to find their "investment plummet so the institutions, wall street and the bankster whales could make a huge profit at the expense of the poor guy in the street? I may have this completely wrong, if so forgive my ignorance.
So what now they push the price way down, buy up cheap crypto and then set out new contracts to long BTC and then push the price up again to claim on their long contracts?
Up until November before they got involved crypto was growing organically quite fine at a pace that seemed rational. I know tons of people who lost huge amounts buy stupidly buying at the top end, and then even more stupidly panic sold as it approached bottom. So I really dont see how futures did us any good at all. They definately made some whales extremely rich practically over night.(3 months - Nov 2017-Jan 2018)
Just a thought, feel free to correct me if I am wrong.
Stay blessed, long live blockchain tech :-)