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CBOE exchange website down minutes after releasing Bitcoin futures

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Re: CBOE exchange website down minutes after releasing Bitcoin futures

#51

Post by JumpCrisscross »

GhostVII wrote: post #36
adsfasdf2332 wrote: post #31

Earlier quoted context omitted.

I think the consensus in the bitcoin community is that it won't have any effect and Bitcoin will continue chugging along as it has. It was mainly the bears saying the futures would increase shorts on bitcoin. Can't imagine anyone in their right mind would short bitcoin right now though...

> Can't imagine anyone in their right mind would short bitcoin right now though... Why not? I can't believe anyone in their right mind would significantly invest in Bitcoin right now.

One can simultaneously believe something is neither worth buying nor shorting. In this case, Bitcoin’s volatility and meteoric rise make predicting the timing of its crash risky.

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#52

Post by Laforet »

malloryerik wrote: post #38
Maarten88 wrote: post #26

Ok, so these bitcoin futures let people bet on the future bitcoin price without actually owning any bitcoins, without having any actual stake in the actual market. (these futures are settled in cash, so nobody ever has to deliver any actual bitcoins) That seems to be an ultimate insult and revenge of the finance industry toward the original idea behind bitcoin. I am again amazed how the finance industry gets to have…

It's for hedging exposure to reduce uncertainty. Futures markets historically reduce volatility and allow hedgers to plan ahead in their businesses. Speculators are there to provide liquidity and aid in price discovery. Yes, lots of caveats, but generally it seems to work. While initial bouts of increased volatility have sometimes come just before ("pre-hedging") and after the introduction of futures, their effect af…

The CME future trade halts at 20% deviation from reference rate, I am curious what effect it will have on spot prices.

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#53

Post by Legogris »

bob_theslob646 wrote: post #41
shit-show wrote: post #11

All your resources needed for today's Bitcoin Futures Launch on CBOE: CBOE Chart Updates: http://www.cboe.com/delayedquote/advanced-charts?ticker=XBT%... CBOE XBT - Bitcoin (USD) Futures Table: http://www.cboe.com/delayedquote/futures-quotes Cryptonaire live forecast updates: https://cryptonaire.com Bloomberg Live Coverage: https://www.bloomberg.com/live/us CMC for BTC indexing including non-US pairs: https://coinmar…

This comment is the exact reason why I cringe when anyone mentions anything related to trading. Notice, he/she did not link anything related to how the future contract works? How can you trade something you do not understand? I would be fired the first day if I couldn't explain to my boss how the instrument/contract was constructed. How do you think quants model? First they understand how the contract works If they m…

It's "resources needed for today's Bitcoin Futures Launch on CBOE", not "resources needed to understand how future contracts work".

While those would certainly be good as well, they assume that you know what's going on in the first place. It's not like we need to post a primer on JS and node ever time a new npm package is posted.

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#54

Post by ro_sharp »

55555 wrote: post #44
nerdponx wrote: post #37

Earlier quoted context omitted.

I'm honestly surprised that there aren't more crypto financial instruments that are implemented/valued in other cryptos.

The problem is they are heavily correlated in downward movement. They all crash together. So you cant effectively short BTC in ETH because even if you win, you lose.

Take a look at ripple

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#55

Post by [deleted] »

Legogris wrote: post #53
bob_theslob646 wrote: post #41

Earlier quoted context omitted.

This comment is the exact reason why I cringe when anyone mentions anything related to trading. Notice, he/she did not link anything related to how the future contract works? How can you trade something you do not understand? I would be fired the first day if I couldn't explain to my boss how the instrument/contract was constructed. How do you think quants model? First they understand how the contract works If they m…

It's "resources needed for today's Bitcoin Futures Launch on CBOE", not "resources needed to understand how future contracts work". While those would certainly be good as well, they assume that you know what's going on in the first place. It's not like we need to post a primer on JS and node ever time a new npm package is posted.

[deleted]

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#56

Post by billylindeman »

nerdponx wrote: post #37
narrator wrote: post #4

And here I thought it was Bitcoin that had scaling issues. Someone should make a futures market for Bitcoin on the Ethereum block chain settled in ETH just for irony.

I'm honestly surprised that there aren't more crypto financial instruments that are implemented/valued in other cryptos.

bitshares might be of interest to you. It has a handful of derivative assets such as bitUSD,bitCNY,bitBTC..

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#58

Post by baddox »

Maarten88 wrote: post #30
zodiac wrote: post #28

Earlier quoted context omitted.

> That seems to be an ultimate insult and revenge of the finance industry toward the original idea behind bitcoin. I don't think you need to pass any sort moral judgement about the existence of this. Cash-settled futures exist for almost all traded commodities (oil, gold, pork bellies at one point...)

Not my moral judgement, I think the creator of bitcoin was quite explicit in his (or her) disapproval of the finance industry and governments inflating the economy by injecting large amounts of money, and went on to create a currency with a fixed supply. It is ironic these futures are effectively leveraged bitcoins, needing central trust. I'm pretty sure Satoshi would not approve. That said, I do question the value o…

It’s one thing to say that Satoshi would not approve. That’s likely true. It’s another thing altogether to say that Satoshi would be surprised by this, or that it is in any way ironic.

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#59

Post by crunchaboo87 »

apaprocki wrote: post #21

Just as a data point — as of this posting, the volume is a whopping... 828.

Currently, volume is over 2k. On a Sunday night. That is over 30 million worth of Bitcoins. Volume will probably skyrocket come Monday when the markets are open.

It's a sad day for Bitcoin market makers though. Previously there weren't many major players.

Re: CBOE exchange website down minutes after releasing Bitcoin futures

#60

Post by ycombobreaker »

csomar wrote: post #8

I wonder if they are getting DDOS'ed. Many crypto exchanges do get DDOS'ed before a big move. It is the nature of the beast since these market are not regulated and the "elite" guys operating on it think this is how free markets work (whoever has the most toys win).

The CBOE website is separate from the trading system. Futures in the US are regulated by the CFTC. There is no reason to believe that this is manipulation. As others have mentioned, it is likely that their website is simply getting hugged by the Internet due to the new contract.
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