>"The decision to clear client trades will be made on a case-by-case basis, the person said." Could someone say what "clearing the trades" mean here?
Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
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Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#22I wonder what Jamie Dimon thinks about this! Funnily enough, my sources tell me JP will be in on the futures contracts as well. What hypocrisy!
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#23Earlier quoted context omitted.
Clearing the trades means both buying and selling.
So they are the market maker?
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#24bitcoiners in 2012: "Bitcoin will eliminate the wall street banksters!" Bitcoiners right now: "OMG Goldman is getting in, who's ready for their moon rocket?"
Expectations are rather more mixed than that.[0] Sure, the price could spike even higher after futures go on sale. But volatility will increase dramatically. And you can't count on exchanges, if the price collapses. 0) https://www.coindesk.com/bitcoin-futures-make-way-new-kind-w...
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#25I have been trading crypto for 5 years now and it is a wet dream for rogue traders. There was a myriad of stories about traders and even banks that tried to pull of some shady statretgy in the stocks markets that the SEC shut down, those same strategies seem to be fair game in the crypto world, you just have to have pockets that are deep enough. My point is that if you are smart and think you can beat or even keep up…
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#26This should give the big Wall St banks the ability to muck with crypto prices however they choose, just like they can do with gold and silver and other commodities (for example, Goldman magically closed gold positions and sold short 2 days before historic 25% price drop in 2 trading days in 2013[0]) Hopefully people will read those contracts and understand how delivery actually works and realize that COMEX or whoever…
The current status quo is that large bitcoin holders can muck with crypto prices however they choose.
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#27wow, these guys seem even shiftier than usual, trying to deflect whether or not they have a bitcoin strategy..
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#28The bigger it grows the harder it will fall. The design/implementation of bitcoin as a currency is severely flawed. Projects like Ethereum, Hyperledger, and IOTA have a more long term focus. Full Disclosure: I have no positions in any crypto but have been reading a lot. Also, in the midst of two courses that go that cover crytpocurrencies and blockchain tech. 1. https://www.coursera.org/learn/cryptocurrency 2. https:…
Hyperledger meanwhile is not a distributed cryptocurrency project. It's software for building consortium blockchains, meaning blockchains run by trusted third parties.
I agree with you on Ethereum. It's now processing more transactions than all other decentralized blockchains combined, including Bitcoin.
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#29Earlier quoted context omitted.
Expectations are rather more mixed than that.[0] Sure, the price could spike even higher after futures go on sale. But volatility will increase dramatically. And you can't count on exchanges, if the price collapses. 0) https://www.coindesk.com/bitcoin-futures-make-way-new-kind-w...
Futures markets reduce volatility.
Re: Goldman Sachs Plans to Clear Bitcoin Futures When They Go Live
#30Earlier quoted context omitted.
Expectations are rather more mixed than that.[0] Sure, the price could spike even higher after futures go on sale. But volatility will increase dramatically. And you can't count on exchanges, if the price collapses. 0) https://www.coindesk.com/bitcoin-futures-make-way-new-kind-w...
Futures markets reduce volatility.
I think you are saying "futures reduce volatility for the trader" but I'm not sure.