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Nasdaq Plans to Introduce Bitcoin Futures

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Re: Nasdaq Plans to Introduce Bitcoin Futures

#31

Post by whatok »

elmar wrote: post #28
koolba wrote: post #25

Earlier quoted context omitted.

> Do futures markets typically stabilize the price of a commodity? Kind of. It doesn't necessarily stabilize the prices of the commodity so much as allow the transferring of the risk associated with price movements. > Who loses out if a futures contract can't be fulfilled (for example due to lack of liquidity in the underlying market)? The exchange acting as the clearing house is on the other side of each contract so…

> volatility of the future and for something like Bitcoin I wouldn't be surprised if was 100% 100% is really farfetched more like 30%

historical volatility on pretty much any time window is well north of 30%

Re: Nasdaq Plans to Introduce Bitcoin Futures

#32

Post by ThrustVectoring »

chinathrow wrote: post #2

I don't know why you should be able to speculate on a speculation product with no real underlying other than a power conversion function.

There's a real case for the market. Bitcoin miners can short the futures contract and turn "use dollars to buy electricity and mining gear for bitcoins later with ??? prices" into "dollars now for bitcoins later at who-cares prices that nets out the short bitcoin position that gave us dollars now".

Re: Nasdaq Plans to Introduce Bitcoin Futures

#33

Post by rictic »

whatok wrote: post #31
elmar wrote: post #28

Earlier quoted context omitted.

> volatility of the future and for something like Bitcoin I wouldn't be surprised if was 100% 100% is really farfetched more like 30%

historical volatility on pretty much any time window is well north of 30%

Yeah. The price has varied by 20% in the past 24 hours.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#34

Post by vasilipupkin »

fragsworth wrote: post #11

Hopefully it's not cash settled like the CME. That is the worst idea ever, and will probably cause a lot of people to get screwed over by market manipulation. Especially since the CME is basing the cash settlement price on a single exchange: GDAX. Anyone can go to GDAX and crash or spike the price for one minute at 4:00pm any day and trigger a bunch of margin calls on the CME. Especially considering how easy it is to…

I disagree completely. Cash settled futures let people bet on bitcoin without ever touching bitcoin itself. For example, suppose I am a huge bitcoin hater and want to bet that bitcoin will go down 100% in the next 3 months. Why force me to worry about wallets, etc.? I just want to have a way to express my conviction without messing with all that stuff.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#35

Post by mads »

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 solved back then, but Bitcoin is just the same now. Nothing was solved. No progress and scams everywhere and people being all religious about Bitcoin. Every man for themselves and to the moon... These days I am even getting scam calls from something called the Bitcoin Academy with people cheering in the background, when it reaches the all time high. No kidding...

I have no idea what to do with my 0.05 BTC. Just let them sit there, I guess as a curiosity of old days. I don't really feel that I fit into the moon community and I don't really feel I want to build anything around this tech just because it is not about tech anymore.

Had lots of Bitcoin sift through my hands. Anyone remember the Bitcoin faucets? Those were the times.

Sincerely, One of the first 1000 users of MtGox (proof in the leaked MtGox database :P)

Re: Nasdaq Plans to Introduce Bitcoin Futures

#36

Post by runeks »

Kiro wrote: post #14
chollida1 wrote: post #10

My guess is that this is probably pretty meaningless. There are a few things going against them. - The CBOE and CME are both much larger futures exchanges and are going to be offering futures first - since you can't net out futures contracts from different exchanges this means they tend to become winner take all > One way Nasdaq seeks to differentiate itself seems to be in the amount of data it uses for pricing the d…

One difference is that NASDAQ is a name everyone in the world knows while CME is fairly anonymous. Yes, I know they are bigger but I can assure you that if you ask random people in my country most would know NASDAQ while very few would know CME. Seeing NASDAQ is adding it will add to the hype.

CME is the largest options and futures contracts exchange in the world...

> Seeing NASDAQ is adding it will add to the hype.

Alright, I see your point. You’re considering how this announcement will affect the bitcoin price.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#38

Post by macromage »

deadmetheny wrote: post #29
virtuexru wrote: post #19

Ah yes Bitcoin; the completely useless electricity waster is finally hitting Wall St. I wonder how the futures will affect price & how much of it will be settled in actual BTC vs USD. AM I DOING THIS RIGHT HACKER NEWS? LUL

>how much of it will be settled in actual BTC vs USD Exactly none of it, considering that Bitcoin as a currency is fairly useless unless you're buying drugs or you're a botnet operator.

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.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#39

Post by igorgue »

deadmetheny wrote: post #29
virtuexru wrote: post #19

Ah yes Bitcoin; the completely useless electricity waster is finally hitting Wall St. I wonder how the futures will affect price & how much of it will be settled in actual BTC vs USD. AM I DOING THIS RIGHT HACKER NEWS? LUL

>how much of it will be settled in actual BTC vs USD Exactly none of it, considering that Bitcoin as a currency is fairly useless unless you're buying drugs or you're a botnet operator.

Or get a Shift Card (partner of Coinbase) and buy some nice coffee or gas or plane tickets... Everything is useless if you're a moron ;-).

https://www.shiftpayments.com/

Re: Nasdaq Plans to Introduce Bitcoin Futures

#40

Post by megaman22 »

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
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