Bakkt to Launch Bitcoin Futures in Three Days, John McAfee: ‘It Сould Jump-Start Crypto Adoption’

Libra Coin News
Fri, 09/20/2019 - 13:07
Yuri Molchan
Crypto baron John McAfee reminds the community about the approaching Bitcoin futures launch on Bakkt, says it is good news but he will never use this platform
Cover image via www.facebook.com
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John McAfee is probably the most controversial figure in the crypto industry and is a thought-leader for many. In today’s series of tweets, he has commented on the approaching launch of physically delivered Bitcoin futures on the Bakkt platform.

He said the news is good but he will never use this platform or any that are similar to it. 

‘It Сould Jump-Start Crypto adoption’

As reported previously, Bakkt Warehouse launched on September 9 with open registration for Bitcoin futures. Trading was meant to start on September 23.

The former antivirus magnate John McAfee says that this is a good idea and could help accelerate crypto adoption. However, he would never use it since Bakkt is a centralized exchange. Institutionalized exchanges, he says, are opposite to the idea of freedom, he says.

McAfee calls institutions adopting crypto drug-selling syndicates

To prove his point about the potential danger from the event, the crypto millionaire compares institutional adoption to big syndicates that make money on selling drugs to average people. Use it, if necessary, he says, but do not fall into the pit.

Image by Twitter

Related
Ripple Gets 2 New Banks to Expand Adoption and Publishes List of Its XRP Customers

McAfee joins a centralized exchange as an advisor

Although John McAfee totally supports only decentralized trading platforms (dexes) where trade happens on a P2P basis, this time he has joined the R&D department of a regulated exchange Burency.

A recent example of LocalBitcoins that started as P2P exchange and now is quickly becoming a regulated one has brought up a storm of indignation from its users who now have to submit their person data to access its services.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.