Bakt delay launch date

[Truckdriver]

https://www.theice.com/publicdocs/futures_us/exchange_notices/ICE_Futures_US-Notice_BitcoinLaunch20181231.pdf 

"Following consultation with the Commodity Futures Trading Commission, ICE Futures U.S., Inc. expects to provide 
an updated launch timeline in early 2019, for the trading, clearing and warehousing of the Bakkt Bitcoin (USD) Daily 
Futures Contract. The launch had previously been set for January 24, 2019, but will be amended pursuant to the 
CFTC’s process and timeline".

Oh well that's a shame , just a judder bar, only slows progress momentarily .

[elias]

What is the "CFTC’s process and timeline"?

[Archbob]

Means that regulation will take some time.

[panmores]

Bakkt will demonstrate that SBI's actually moving very fast...

[Guest]

One could see this (second) delay coming from miles away. The official reason for the delay is regulatory uncertainty, but I do feel there is more at play here (i.e. the current unhealthy market sentiment).

Anyone may correct me if the following prediction turns out to be incorrect, but I think they won't even launch during Q1 of this year. Instead, I think they will launch in Q3 earliest. 

[EWH2020]

Didn't we read that the 1st delay was due to high demand?

[knull]

21 minutes ago, EWH2020 said:

Didn't we read that the 1st delay was due to high demand?

They can frame it how they want.

[Guest]

This should the the theme of 2019

[Danny]

3 hours ago, PactaSuntServanda said:

One could see this (second) delay coming from miles away. The official reason for the delay is regulatory uncertainty, but I do feel there is more at play here (i.e. the current unhealthy market sentiment).

Anyone may correct me if the following prediction turns out to be incorrect, but I think they won't even launch during Q1 of this year. Instead, I think they will launch in Q3 earliest. 

Perhaps someone had a phone call with the CFTC. The video below is about the financial crisis of 2008 and at around 24:20 it shows how the CFTC was conveniently corrected by Larry Summers and 13 bankers who had a phone call with Brooksley Born, chairperson of CFTC, directing her to stop what she was doing.

http://watchdocumentaries.com/inside-job/
 

[Guest]

1 hour ago, Danny said:

Perhaps someone had a phone call with the CFTC. The video below is about the financial crisis of 2008 and at around 24:20 it shows how the CFTC was conveniently corrected by Larry Summers and 13 bankers who had a phone call with Brooksley Born, chairperson of CFTC, directing her to stop what she was doing.

http://watchdocumentaries.com/inside-job/
 

Thanks! I'll look into it. 

[Truckdriver]

Maybe they've changed their mind and waiting for the perfect time to make XRP the base  ,maybe timing around lawmakers changing the 72 year old security definition freeing up Ripple/XRP for the masses.  Nah, we'd be so lucky. 

[WuWei]

Ripple can't come out and reveal what obstacles they're faced with, and it's hard to even conceptualize just how widespread the corruption of our politicians is from the 'banksters.'  We know that the largest banks are making money hand over fist from their correspondent banking networks, and they're almost certainly doing everything in their power to thwart Ripple's challenge to this. It's no wonder Ripple helped form a lobbying group and that they've been seeking people in the loop to speak at SWELL: i.e.: Ben Bernanke and Bill Clinton. Politics is an inherently corrupt system that rewards those with the most money with the most influence over the state of our laws and therefore our regulatory structure - it is NOT a level playing field as is clearly illustrated in the above "inside jobs"documentary. Ripple's got the goods as far as a superior and revolutionary suite of products is concerned, it's navigating the "dirty" politics of business that's the unsettling variable for me. 

[cryptoxrp]

On 1/1/2019 at 9:32 PM, WuWei said:

Ripple can't come out and reveal what obstacles they're faced with, and it's hard to even conceptualize just how widespread the corruption of our politicians is from the 'banksters.'  We know that the largest banks are making money hand over fist from their correspondent banking networks, and they're almost certainly doing everything in their power to thwart Ripple's challenge to this. It's no wonder Ripple helped form a lobbying group and that they've been seeking people in the loop to speak at SWELL: i.e.: Ben Bernanke and Bill Clinton. Politics is an inherently corrupt system that rewards those with the most money with the most influence over the state of our laws and therefore our regulatory structure - it is NOT a level playing field as is clearly illustrated in the above "inside jobs"documentary. Ripple's got the goods as far as a superior and revolutionary suite of products is concerned, it's navigating the "dirty" politics of business that's the unsettling variable for me. 

Well said. However, the stage is set, the CFTC can stall what they want but other countries are not waiting for US regulatory amendments. And quite a few are powering ahead and grabbing the once in a lifetime opportunity. Each day the US regulation stalls it seems that other countries are taking a bigger stake in the various leading crypto opportunities.

Note: If you want to screw-up a perfectly good business opportunity let civil servants do the job.

Edited January 3, 2019 by cryptoxrp

[Truckdriver]

Was doing some research and read this http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/  interesting article about Bakt, Bakt major ties to coinbase , Fidelity ties to coinbase . Any thoughts? 

On 1/1/2019 at 10:44 PM, PactaSuntServanda said:

The official reason for the delay is regulatory uncertainty, but I do feel there is more at play here

Agreed.  

 

[Rey]

On 1/3/2019 at 12:05 AM, cryptoxrp said:

Note: If you want to screw-up a perfectly good business opportunity let civil servants do the job.

You mean people who do their job like you and me and who don't even get paid if the legislator/politicians scr*w up?