Nasdaq Plans to Introduce Bitcoin Futures

Post by deadmetheny » Wed, Nov 29, 2017, 9:11 PM UTC

macromage wrote: post #38

deadmetheny wrote: post #29

Earlier quoted context omitted.

>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.

Post by Kiro » Wed, Nov 29, 2017, 9:13 PM UTC

ashark wrote: post #61

igorgue wrote: post #44

Earlier quoted context omitted.

>> "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" Just go out to a target and ask 5 people... Unless you live on mars already.

I imagine I'd get three "CME? Dunno WTF that is", "How about Chicago Mercantile Exchange?", "Oh yeah, I recognize that from the boring parts of morning news updates on the radio. They do something with soy beans, right?" and two "yeah, still dunno. Is it a farmer's market?" Midwestern US city (not Chicago).

Post by hackermailman » Wed, Nov 29, 2017, 9:17 PM UTC

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

Post by ceejayoz » Wed, Nov 29, 2017, 9:23 PM UTC

goldenkey wrote: post #60

varbo wrote: post #45

Earlier quoted context omitted.

I'm trying to send $700 in bitcoin to purchase something. It's going to cost me $65 to buy the coins and several hours of time. 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.

Im also banned from coinbase for asking them to hurry my verification because I needed to buy vitamins. They are a pretty miserable company. How can they claim to sell something "useful" then ban you if you mention using it? They basically are admitting to selling a security if that is the case..wondering if we could take all the nonsensically banned users and do a class action lawsuit against them. It would be one t…

Post by babaganoosh89 » Wed, Nov 29, 2017, 9:25 PM UTC

koolba wrote: post #25

londons_explore wrote: post #20

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)?

> 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…