Comment Text:
To everyone,
As a concerned US citizen I hope that the CFTC will not approve Bitcoin futures. Bitcoin is a scarce commodity that is limited to only 21 million Bitcoins that will ever be mined. As the price goes up on Bitcoin less people will buy and sell it and keep it instead in hopes of higher prices. But in order for the Bitcoin “computer program” to be successful it needs many people transacting in it daily. This will not happen because of scarcity of Bitcoins. Therefore the price may go up for a while until it is to high that nobody uses it anymore and then it will drop like a rock – maybe even to zero. Investors in Bitcoin and brokerage firms that have it in there portfolios could be destroyed if this happens.
