I personally hate all derivative financial products as I see them not offering anything more than a different style casino.

That said, this will probably 'bump' the USD 'value' of bitcoin in the short to medium term. Longer term effects might not be great as it'll be used as a hedge but . . . meh . . . bitcoin definitely survives. 

 I have not been a fan of derivitives since the GFC. 

 Derivatives are fine. The problem is the government implicitly insuring the biggest gamblers from any major losses. 

 In bitcoin, a peer-to-peer electronic cash system, a derivative = not your keys, not your #bitcoin. 

 Sure. But derivatives serve different function (besides the degen trading). Hedging and insuring the risks is conceptually a fair efficiency gain.

Figuring out the most trustless way to do it is a separate issue. 

 agreed, also dislike it, probably dampens volatility long run (could be wrong as bitty do what it wants) but it will allow bigger institutions that don't buy without hedging to buy 

 Alphabet soup agencies doing alphabet soup stuff.

It's an argument about what agency should regulate paper bitcoin, but they miss the entire point.

#Bitcoin doesn't need paper. 

 It's Bitcoin.  All news is good news.  It's just another chance for people to see 'Honey Badger don't give a shit.' 

 https://media.tenor.com/hdXEXxyCMrsAAAAC/casablanca-humphrey-bogart.gif 

 What’s the integral of shit? 

 ∫ shit dx = x + C

= shit 

 This is remarkably good to know. 

 Don’t ask me to show my work. I had fish tacos for dinner.