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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.
Earlier quoted context omitted.
Apparently there have been cash-settled futures on a whole bunch of commodities for years now, so this sounds like another case of "I just discovered how finance works and I don't like it".
Bitcoin differs from commodities like gold in that it's something which can be trivially transferred electronically. It doesn't make much sense to 'buy' cash instruments when you can just get the real thing.
But whither bitcoin, you say? Moving those is easy! Yes, but holding them is hard. Who wants Your Favorite Mutual Fund to hold bitcoins? Not them, that's for sure. There's much more risk there than necessary.
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%
Earlier quoted context omitted.
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 fairly anonymous". What planet do you live on?
Just go out to a target and ask 5 people... Unless you live on mars already.
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…
Of course, I am banned from Coinbase for an innocous bank mistake. There's literally no other options to buy coins at 1-2% in the US.
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…
As a non-physical thing, it's a good place to go when you're not sure about where to put your money. That used to be the role of the dollar, but this is a good alternative that has cheaper forex fees.
I think the long-term value of bitcoin will not be buying groceries, but storing money while you wait for your the storm your grocery stores currency is in to subside. Probably not relevant to Americans right now, but I'm sure some people in Latin America can see the value.
Can an expert explain for the less informed: * Do futures markets typically stabilize the price of a commodity? * Who loses out if a futures contract can't be fulfilled (for example due to lack of liquidity in the underlying market)?
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
Maybe I just bought a piece of something like the Berlin wall and when everything goes to shit and this whole train wreck evolves into something more sane later on in 100 years or whatever, my grand children can sell my 0.05BTC on Sothebys or something :D ..
Earlier quoted context omitted.
Apparently there have been cash-settled futures on a whole bunch of commodities for years now, so this sounds like another case of "I just discovered how finance works and I don't like it".
Bitcoin differs from commodities like gold in that it's something which can be trivially transferred electronically. It doesn't make much sense to 'buy' cash instruments when you can just get the real thing.
There may also be a regulatory angle here. ETFs that are backed by Bitcoin have been repeatedly smacked down by the SEC, but futures that merely bet on the price while not touching actual Bitcoin seem to be OK. I can imagine that this probably infuriates true believers.
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…
It's got a pretty short, volatile history to be deciding that.