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Nasdaq Plans to Introduce Bitcoin Futures

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Re: Nasdaq Plans to Introduce Bitcoin Futures

#81
post #27
post #14

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.

Random people in your country are not the target audience for this.

... target of bitcoin hype tho?

Re: Nasdaq Plans to Introduce Bitcoin Futures

#82
post #45
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…

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.

For the record Coinbase is adding 100k users a day. So people need to dial down the expectations...

Re: Nasdaq Plans to Introduce Bitcoin Futures

#83
post #82
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.

For the record Coinbase is adding 100k users a day. So people need to dial down the expectations...

The number mentioned for the record is wrong: Coinbase has added 100k users in a day, it is not adding 100k users per day [0]. That’s not evening considering the number of users who may be fraudulent, they are hiring [1].

[0] https://docs.google.com/spreadsheets/d/1NgvD2kFT69mSXuJPzPDu...

[1] https://www.coinbase.com/careers/923993

Re: Nasdaq Plans to Introduce Bitcoin Futures

#84
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…

Yeah I think I purchased a month of VPN with like half a bitcoin. Oops.

Hindsight 20/20 I guess

Re: Nasdaq Plans to Introduce Bitcoin Futures

#85
post #57
post #53

Earlier quoted context omitted.

I got .20-someodd (.28, maybe? Maybe have even been in the .3 range.) years ago from spigots and a very brief experiment with mining, then thoughtlessly formatted right over the damn hard drive with the wallet on it and went "oh well, not like it's worth anything". Don't suppose there are any low-level wallet-finder tools out there in case it hasn't been overwritten? It's finally worth a couple days to give that a sh…

After I upgraded, I gave my Xeon Workstation to my Mother and actually kept the miner running when I gave it to her. She complained it was a bit slow, when she used Photoshop, so I turned the miner off and she was happy. There must have been something like 300 or 400 coins in that wallet. I should ask her if she still has it next time I see her, but I am pretty sure she threw it in the garbage.

If it exists, you should ask her today. 300 coins is ~$3M.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#86

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)?

The test case for this is in onion markets. Futures trading in onions was banned.

https://en.wikipedia.org/wiki/Onion_Futures_Act

Re: Nasdaq Plans to Introduce Bitcoin Futures

#87
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…

> Bitcoin is just the same now. Nothing was solved. No progress

Not true, see Segwit recently, soon https://en.wikipedia.org/wiki/Lightning_Network

edit: -3 in an hour, why?

Re: Nasdaq Plans to Introduce Bitcoin Futures

#88
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…

> But as a store of value, it's actually pretty good. It's got a pretty short, volatile history to be deciding that.

Over the past ~7 years, the price has increased by ~10^5. There have been some bubbles, for sure. But all that has paled over the past year. The price could crash, certainly. Still, if futures become available, it could spike a lot higher before it does.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#89
post #84
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…

Yeah I think I purchased a month of VPN with like half a bitcoin. Oops. Hindsight 20/20 I guess

I've said it before and I'll say it again. We've been cruising past orders of magnitude ($0.10 > $1 > $10 > $100 > $1000 > $10000) and at any one of those jumps it seemed like the top of a bubble and just as likely to go in the opposite direction with the same velocity.

Don't kick yourself for spending when you did, because as I'm sure you're aware, it's just as likely that you could be now saying "Thank goodness I used those Bitcoins when they still worth something".

I bought a bunch at ~$1, then they jumped to $10 and it started to be fun, because I had a bunch more value to play with, then they jumped to $100, I thought screw this. This is not why I bought them and if they keep up this volatility, then they're not going to be useful for what I want to use them for (ie. buying/selling online).

I don't regret selling them when I did, and I don't think you should either.

Re: Nasdaq Plans to Introduce Bitcoin Futures

#90
post #82
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.

For the record Coinbase is adding 100k users a day. So people need to dial down the expectations...

I would be surprised if Coinbase didn't get sued because of their bad service... locking people's money when the market is going crazy.
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