There seems to be some favorable interest and commentary by cryptocurrency gurus on YouTube about the Chicago Board Option Exchange's ("CBOE") plans to offer a new derivative that will include Bitcoin. I believe that this new establishment financial instrument is very ominous. The CBOE does not plan to settle the option in Bitcoins; they plan to settle in fiat currency - in this case U.S dollars. This will offer the Federal Reserve, either directly or through associated agencies or great banks, the capability of "dumping" huge amounts of the derivative containing Bitcoin, and, thus, the governmental powers can drive down the price of Bitcoin. Any settlement will be by paper, and there will be no other option.
By this means the auction value of Bitcoins will be undercut by the sheer volume of paper trades on the exchange. Other central banks and financial centers will follow suit. The revenge of the Jedi.
This scenario seems certain to me, as the same procedure exists for gold and silver commodity trading. U.S. exchanges do not settle in metal; they settle in paper. It's a "take it or leave it" settlement in paper. For this reason the price of gold and silver metal is greatly underpriced. They are overwhelmed by a tsunami of paper bets in gold and silver. Since the government is behind the stifling of the precious metal prices, there is no relief other than a radical change in government.
I felt to make a counterpoint to commentary from DataDash , Cryptoverse and others suggesting that this proposed CBOE derivative listing with a Bitcoin component might be good for Bitcoin. If you are a bettor, if this derivative is created (and there will be others soon thereafter), "short" Bitcoin or move your money elsewhere.
