Good morning Prayank,
>
> > Of course the people ultimately funding the development must impose what
> >direction that development goes to, after all, it is their money that is
> >being modified. Thus development must follow the market.
>
> Disagree.
>
> 1.A position in a futures market about possible outcomes of an event is not
> equivalent to funding Bitcoin development.
>
> 2.People or organizations funding Bitcoin developers or projects can always
> have some opinion, influence and disagreements. They can never impose or
> force something at least in Bitcoin protocol.
Sorry for the late reply.
I expect that many Bitcoin developers have a nontrivial amount of their life
savings in Bitcoin.
Any change in Bitcoin price represents a significant change in the value of
these life savings.
A position in a futures market represents a prediction by the one taking the
position that they expect the price of Bitcoin to change in a particular
direction, possibly based on some condition, including the direction where
development goes.
This signal then represents an implicit threat ("if Bitcoin goes against this
position, I will liquidate my Bitcoin and drop the Bitcoin price") which can be
sufficient to "fund" or "de-fund" developers who have a significant stake in
Bitcoin.
> I don't think futures market in this case will be able to aggregate and
> reflect all available information so everything mentioned above has its own
> importance which should be considered. Maybe I missed few things.
*Some* information > *No* information
>
> 3.Incorrect usage of futures markets in Bitcoin and other issues:
Well, yes, this is the hard part, sigh.
Regards,
ZmnSCPxj
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