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Nasdaq Plans to Introduce Bitcoin Futures

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Re: Nasdaq Plans to Introduce Bitcoin Futures

#151

Post by cwkoss »

swalsh wrote: post #46
mads wrote: post #35

Man, this is just weird. I just bought 0.05 Bitcoins (you know FOMO and all that) and it just feels so much more empty than back in the days when I mined them myself with my brand new dual Xeon CPU and later on was thinking grand thoughts and building little projects with epaper ink displays to display QR codes on small devices that would work on low bandwidth connections and maybe offline. Lots of problems to be sol…

I've always been a negative detractor of bitcoin. But then I realized the problem was it was marketed wrong. As a currency, it's a nightmare of a creation. But as a store of value, it's actually pretty good. As long as you don't buy in at one of the speculative bubbles (which admittedly is when the majority of people get in), it's been pretty good at more or less maintaining its value. As a non-physical thing, it's a…

I think you're right.

I think a lot of people hear "Digital Currency" and think 'something like Apple Pay', when Bitcoin's competition is closer to ACH/wire transfers.

It's not a tech that everyone needs to use, and most people will pay an expert to use it for them. But if successful, could be a valuable medium for receiving payments from low-trust entities.

For example, if a stock exchange accepted Bitcoin for funding accounts, you could get your account up, funded and ready to trade in less than an hour. Most stock exchanges now take several days for funds to clear.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#152

Post by sbenitoj »

mads wrote: post #35

Man, this is just weird. I just bought 0.05 Bitcoins (you know FOMO and all that) and it just feels so much more empty than back in the days when I mined them myself with my brand new dual Xeon CPU and later on was thinking grand thoughts and building little projects with epaper ink displays to display QR codes on small devices that would work on low bandwidth connections and maybe offline. Lots of problems to be sol…

Have you checked out the Bitcoin Cash community on r/BTC? There’s plenty of hatred for Core developers on there, but there’s also a lot of grassroots projects going on, like the Bitcoin Cash Fund that recently raised about $85k to fund projects that spread adoption of Bitcoin Cash — feels a lot more like the early days.

https://thebitcoincash.fund/

https://www.yours.org/content/a-new-model-for-bcf-project-or...

Re: Nasdaq Plans to Introduce Bitcoin Futures

#153

Post by goodside »

knownothing wrote: post #122
krrrh wrote: post #105

Earlier quoted context omitted.

Let’s see how everyone feels after the next correction. The headlines today seem to change every time I load google news. Up 10%, down 20%. There’s no way to know where it will go from here.

Yes. But I already stated that in my response. We do not know the future and you shouldn't trust anyone who tells you differently. My point is that there have been skeptics and people saying it's a bubble or too volatile for nearly all of Bitcoin's history. But if you bought BTC and held it--at any high or low, for any significant amount of time--you made a lot of money (either realized or unrealized, that doesn't ma…

> But if you bought BTC and held it--at any high or low, for any significant amount of time--you made a lot of money (either realized or unrealized, that doesn't matter).

This isn't entirely true. If you bought Bitcoin anywhere near the height of the late-2013 mania (which is of course a lot of people, since that's why the price was so high), you lost half your value within a month or two and then had to hold until 2017 before you started to break even. You lost 70% if you held for a year and a half and gave up.

The market from June to November 2011 was even more disastrous, falling from $29 to almost $2 and not recovering until February 2013.

These are obviously cherry-picked dates, and you'd clearly have made a profit eventually if you kept holding, but it's still very possible to hold Bitcoin for years and lose money.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#154

Post by heurist »

krrrh wrote: post #105
knownothing wrote: post #79

Earlier quoted context omitted.

> As long as you don't buy in at one of the speculative bubbles I'm not so sure about that. You could have bought BTC anytime before the past week or so and it would have appreciated significantly, regardless of whether you bought it in a peak or trough. It's just a question of magnitude. E.g. if you bought 1 BTC at the lowest or highest price in 2015 you would still have outrageous returns on it today. This is not t…

Let’s see how everyone feels after the next correction. The headlines today seem to change every time I load google news. Up 10%, down 20%. There’s no way to know where it will go from here.

I had bought about $50 worth of BTC a year ago and it's now worth $800. Did the bitcoin economy grow that much in the last year? I've heard of increasing adoption by banks and governments but I don't know to what extent they're investing. I don't follow it closely and at this valuation, I have no idea whether it's a good investment or not. Should I sell it now before the inevitable crash? Should I buy more? I don't trust myself to understand this kind of speculation yet.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#155

Post by cwkoss »

quickthrower2 wrote: post #147
anonymous5133 wrote: post #139

Earlier quoted context omitted.

I'm taking it you are mad you didn't get in early, huh lol?

I don't know about him but I'm mad. Of course I'd have to have got in early and had the balls not the sell, not lose the keys, not get hacked and not leave them on an exchange, for years.

I think one of the most important skills in trading is realizing the impossibility of 'ideal' trades.

Perfectly buying at the bottom of a dip and selling at the top are both very RISKY trades, particularly if trading with your whole stake: you don't have much information to indicate that the market is changing and could have been very wrong.

I think the healthiest perspective is just to compare investment vs. return in dollars. If you're beating the broad market, you're doing fine and should be happy. If you think about what you could have done with perfect hindsight, you'll just make yourself miserable.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#156

Post by DennisP »

pera wrote: post #146
DennisP wrote: post #143

Earlier quoted context omitted.

I also remember the early Bitcoin days. I didn't get any until over $100 but I came across it before it was worth anything. I remember the faucets, the alpaca socks, the triumphant day when a bitcoin reached parity with a dollar, all of it. It was a glorious, happy community of idealists back then. Those days are gone for Bitcoin, but I've found a cryptocurrency community elsewhere that reminds me of those early Bitc…

Which community?

Ethereum. Admittedly there's a dark side of scammy ICOs, but there's also lots of open source coding and idealists trying to change the world.

I don't think Ethereum is the only cryptocurrency community like this, it's just the one I'm involved in.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#157

Post by zenlikethat »

pera wrote: post #146
DennisP wrote: post #143

Earlier quoted context omitted.

I also remember the early Bitcoin days. I didn't get any until over $100 but I came across it before it was worth anything. I remember the faucets, the alpaca socks, the triumphant day when a bitcoin reached parity with a dollar, all of it. It was a glorious, happy community of idealists back then. Those days are gone for Bitcoin, but I've found a cryptocurrency community elsewhere that reminds me of those early Bitc…

Which community?

I’m not OP, but I like Monero. However any question like this is likely to get brigaded with everyone’s favorite bag to hold^W^W^W currency.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#158

Post by Frogolocalypse »

qsucvatz wrote: post #148
Frogolocalypse wrote: post #115

Earlier quoted context omitted.

All that demonstrates is that people dont care that much about txn fees. If they did, they would create segwit wallets.

How can we count votes of people who don't have the money for a single transaction fee? I thought Bitcoin was supposed to be better because it was the cheapest?

You subsidize them then. Mining isn't free. Running a node isn't free. Bitcoin was never about being cheap, it's about protecting your purchasing power.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#159

Post by zenlikethat »

zipwitch wrote: post #142
zeep wrote: post #90

Earlier quoted context omitted.

I would be surprised if Coinbase didn't get sued because of their bad service... locking people's money when the market is going crazy.

This is (as someone who hasn't played around with bitcoin much) something I've been curious about. How easy is it to get significant amounts of bitcoin turned into cash? This is particularly applicable at a moment like the present. If I had, say, 25 bitcoins that I wanted to trade into dollars _right now_ what hurdles stand in my way, and how long would it take to clear them?

There are liquidation limits on the exchanges. I think Coinbase limits to $10k USD in exchange for your Bitcoins. You can get increases by providing additional identity verification. IRS is way up in Coinbase’s business since this is essentially a huge potential avenue for laundering and tax evasion.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#160

Post by Frogolocalypse »

qsucvatz wrote: post #144
Frogolocalypse wrote: post #114

Earlier quoted context omitted.

No one is interested in the centralized bcash. It is a crypto in name only.

Bitcoin is Bitcoin Cash. We immediately restored the ability for Bitcoin to be adopted with low fees and fast confirmations by using 8 MB blocks. The median income for the world is $6/day. High fees are unaffordable and unadoptable. The Core team has done Bitcoin an enormous disservice; like setting autopilot into the terrain.

You call your alt whatever you like. I'll call it bcash so that it removes confusion from peoples minds that it isn't bitcoin. The only thing that alt has is a name they've stolen from bitcoin. So bcash it is.

No one cares about the fees. If they did, they'd use litecoin. Blocks 4x the speed of bcash and bitcoin, and they have segwit too, so double the capacity of bcash.

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