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BitCoin Gets a Futures Market

Posted by timothy on from the prices-are-information-units dept.

fireballrus writes "There is one more way to use your BitCoins rather than buying weed or socks. Recently, a Bitcoin Exchange called ICBIT quietly introduced a futures market, obviously using Bitcoins as its main currency. Gold futures trade roughly at 137 BTC/tr.oz and Sweet Crude Oil at 7.3 BTC/bbl. This may play a positive role in the Bitcoin economy which needs more ways to actually use coins instead of mining them." While this sounds intriguing, I'd like to hear a good case for why BitCoin makes sense in this context.

3 of 467 comments (clear)

  1. This is great news! by busyqth · · Score: 0, Troll

    Even MORE ways to scam people and steal their money! *CHA_CHING!!!*

  2. What's the exchange rate to dead squirrels? by Rogerborg · · Score: 0, Troll

    Because I have a whole sack of them here that I'm willing to trade for BitCoins. No, wait, the other thing - Leprechaun gold.

    SRSly, Slashdot, it's a joke currency used by a few fantasists and dreamers. WOW Gold is "worth" more. It's not news, never has been, never will be.

    --
    If you were blocking sigs, you wouldn't have to read this.
    1. Re:What's the exchange rate to dead squirrels? by Anonymous Coward · · Score: 0, Troll

      The American dollar and the Euro are built on the same voodoo magic in terms of value.

      Typical ignorant blathering from the BitCoin crowd. It's amazing that someone who might even be educated could say such a truly stupid thing.

      "TheRealMindChild", please invest your life savings in BitCoin, the world needs more bums.