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Nasdaq Plans to Introduce Bitcoin Futures

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Re: Nasdaq Plans to Introduce Bitcoin Futures

#161

Post by macromage »

deadmetheny wrote: post #62
macromage wrote: post #38

Earlier quoted context omitted.

Fairly useless unless you're part of a roughly $1-trillion dollar[1] global industry, you mean? [1] https://en.wikipedia.org/wiki/Illegal_drug_trade - Take the 2003 figure as a % of world GDP, apply to today's world GDP.

Ah yes, I'm sure all the people trading on Bitcoin futures are getting paid in Bitcoin and re-investing into the illegal drug market.

I don't see how that relates to the point you were making. Clarify?

> Bitcoin as a currency is fairly useless unless you're buying drugs or you're a botnet operator

You claim that Bitcoin is useless. This was to justify the point you made before (nothing will settle in Bitcoin) or maybe as a cheap dig. Either way, your statement as it stands is worded to be condescending and confusing.

It's like saying "Mouthwash is fairly useless unless you don't want bad breath." Turns out, the market for people who don't want bad breath is pretty big. Calling it useless is wrong.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#162

Post by wizardforhire »

Frogolocalypse wrote: post #136
makk wrote: post #108

Earlier quoted context omitted.

Something that consumes an unbounded amount of electricity is hardly a "non-physical thing."

TIL electricity is a physical thing.

So is data, so are files, so are ledgers. Every program physically resides somewhere... Just because it's infinitesimally small and it's interface obfuscated doesn't mean it isn't real. Cue Feynman quote "the world is real and it's made of atoms!"

Re: Nasdaq Plans to Introduce Bitcoin Futures

#163

Post by bochoh »

So here's a scheme that could be used to wildly profit in the fiat market. If you're what is considered a bitcoin "whale" holding millions worth of the currency you would just setup a short on bitcoin futures. Then you initiate a large sell from a well known whale wallet. This would trigger a large sell as stop losses are triggered. Profit then re-buy the dip.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#164

Post by DennisP »

zenlikethat wrote: post #157
pera wrote: post #146

Earlier quoted context omitted.

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.

Monero's cool too. Probably most projects that are reasonably young and successful, and have something new and different about them.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#165

Post by jonknee »

seibelj wrote: post #134
vasilipupkin wrote: post #126

Earlier quoted context omitted.

Why can't people in Latin America just buy gold or dollars to store value ? I mean it's a circular argument. To say bitcoin is a store of value, there has to be an apriori reason why it has value. It can't be a store of value because it is. Right ?

Uh... you have to physically store those things? Easy to steal? Can't send to someone across the country instantly? Bitcoin is way better than gold or dollars when you are in an unstable country. People in Venezuela are huge crypto-heads for that reason

> Easy to steal?

Bitcoin is perhaps the most commonly stolen store of value the world has ever seen. It has its advantages, but being difficult to steal (or lose permanently!) is not one of them.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#166

Post by zenlikethat »

KasianFranks wrote: post #141
lern_too_spel wrote: post #100

Earlier quoted context omitted.

Pump and dumpers gonna pump and dump. https://medium.com/@DEFCON_2015/why-mgt-was-delisted-from-ny...

Or, large investment banking houses will step in and create naked shorting opportunities to inflate sell pressure creating 'death spirals' to drive prices down and scoop them up and extreme discounts. This happens in the traditional public markets everyday.

There’s decent chance big money of some form is behind this recent increase anyway.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#167

Post by Frogolocalypse »

wizardforhire wrote: post #162
Frogolocalypse wrote: post #136

Earlier quoted context omitted.

TIL electricity is a physical thing.

So is data, so are files, so are ledgers. Every program physically resides somewhere... Just because it's infinitesimally small and it's interface obfuscated doesn't mean it isn't real. Cue Feynman quote "the world is real and it's made of atoms!"

So does that mean a 1 weighs more than a 0? Big-endian bytes weigh less than little-endian ones? What about polarization? North heavier than south?

Re: Nasdaq Plans to Introduce Bitcoin Futures

#168

Post by quickthrower2 »

cwkoss wrote: post #155
quickthrower2 wrote: post #147

Earlier quoted context omitted.

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…

The difference with bitcoin is the price increase from 1c / BTC to $10,000 means at many points someone could have purchased $1000 in BTC and been left with enough to retire.

I don't think anything else has had that levels of "returns"

Re: Nasdaq Plans to Introduce Bitcoin Futures

#169

Post by [deleted] »

megaman22 wrote: post #40
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…

Shit, somebody gave me 0.05 BTC a few years ago to go to a talk about what it was all about. Hopefully I still have that paper wallet, it must be worth close to $500

[deleted]

Re: Nasdaq Plans to Introduce Bitcoin Futures

#170

Post by ericb »

vasilipupkin wrote: post #126
swalsh wrote: post #46

Earlier quoted context omitted.

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…

Why can't people in Latin America just buy gold or dollars to store value ? I mean it's a circular argument. To say bitcoin is a store of value, there has to be an apriori reason why it has value. It can't be a store of value because it is. Right ?

It is like if you and I took turns paying for lunch periodically and we used a ledger to track who paid what, and who owes who. The ledger itself is bitcoin. The ledger paper is worthless, but the entries on it "have value." For you and I, the ledger "has value" because that's where the history is.

If you printed 50 new blank ledgers, they wouldn't have value because they don't have the history and our mutual agreement.

Bitcoin is the worldwide ledger (WWL).

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