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Nasdaq Plans To Offer Bitcoin Futures In Early 2018 (engadget.com)
An anonymous reader quotes a report from Engadget: Nasdaq is planning to launch contracts for bitcoin futures in the first half of 2018, according to The Wall Street Journal, which will enable investors to predict and put money on the future price of the currency. The Wall Street Journal also reports that broker Cantor Fitzgerald will be launching bitcoin derivatives on its own exchange in the first half of next year as well, making for yet another brokerage to help make bitcoin a more mainstream financial instrument. The relative youth and volatility of the currency still keeps many investors away, of course, but bitcoin is probably here to stay, even if this is just a bubble. New uses for regular folks to spend with the currency continue to rise, like the UK Visa card based on bitcoin and Square's testing of the currency in its payment app.
It seems like everyone is buying into the Bitcoin hype these days.
Even non-techies are asking me why I didn't tell them to invest in bitcoin 5 years ago. I shrug and say I didn't receive payment in them for services rendered, nor have a high end graphics card and free electricity to mine, didn't want to end up on an ASIO watchlist and probably would have had my wallet hacked or coins stolen from an exchange.
Futures are used to manipulate the prices of commodities....
By not having to actually own the underlying commodity, the 'futures' contracts bought and sold create a artificial system which allows control over a resource. Unless the futures sellers are required to actually OWN the bitcoins they are selling 'in the future'...which gets real fuzzy, real fast.
So Bitcoin mining involves running a special computer whose sole purpose is to waste electricity. If you have a solar panel I suppose that isn't an issue but if you live where coal is used, you are adding to pollution/global warming.
When do you think bitcoin bubble will burst and why it is before Nasdaq bitcoin futures market open?
so wall-street will now let you bet on the price of bitcoin as well as buy derivatives but isnt yet offering the actual product itself?
please tell me how this isnt gambling, heck, even the summary says that this might be a bubble. but hos does this make bitcoin more mainstream? there are not more people trading it, they are just betting on it and its performance.
the volatility and transaction time of the block chain is what will keep it from being a payment currency, but tip of the had to square for trying.
I realize that bitcoin is traded like a stock or commodity, but with the complete lack of underlying substance, wouldn't predicting the future odds of the Jets winning the Superbowl be equally relevant to society? Maybe even moreso?
When do you think bitcoin bubble will burst and why it is before Nasdaq bitcoin futures market open?
As John Maynard Keynes is quoted as saying, "The markets can remain irrational a lot longer than you and I can remain solvent."
(* no evidence that he actually did say this, though. The earliest use is A. Gary Schilling.
Lets be positive here : the more Wall Street fucks with bitcoin, the less (hopefully) they fuck with the real economy. Now if they bring down the real economy a second time, no more reprieve it's guillotine time courtesy of the 99%.
Don't worry; Wall Street has more than enough bandwidth to fuck with Bitcoin and the real economy simultaneously.
These guys have a serious gambling problem.
I object to power without constructive purpose. --Spock
Ladbrokes are also offering futures based on Bitcoin, making Bitcoin a totally legit currency. In Ladbrokes case they issue currency.... erm a slip, too.
"but bitcoin is probably here to stay, even if this is just a bubble"
Yeh right, bubbles that stay, got it. Can I buy a Windows phone in Second Life with my Bitcoins?
With serious banks and stock exchanges getting involved in Bitcoin, it's future does look more likely to be long term.
Of course, professionals getting involved probably means the days of rapid growth (and decline) may be about to come to an end. It's almost too late to get rich from bitcoin now. If you wanted to be a bitcoin millionaire the days for investing are gone.
"That's the way to do it" - Punch
Like most of the other federal agencies, the Orange Asshole has managed to gut the SEC. If we had a functioning SEC, this would be illegal.
I don't respond to AC's.
I've said it before, and I'll say it again. Get out now. This is pure bubble speculation. There is nothing holding BC up other than people's irrational behavior. If this isn't a sign that BC is in a bubble then nothing else is. The whole thing is going to come tumbling down hard and fast.
~X~
Transaction time is actually a benefit of the futures-- lock in the price externally with your "insurance" futures.
What could possibly go wrong...
so wall-street will now let you bet on the price of bitcoin as well as buy derivatives but isnt yet offering the actual product itself?
please tell me how this isnt gambling, heck, even the summary says that this might be a bubble. but hos does this make bitcoin more mainstream? there are not more people trading it, they are just betting on it and its performance.
the volatility and transaction time of the block chain is what will keep it from being a payment currency, but tip of the had to square for trying.
Trading stocks IS gambling. Starting a new company IS gambling.
It might pay off, it might flop; you never know.
The difference between stock trading, and investing in "bitcoin" or starting a new company is; you're investing your money with some knowledge and forethought. It's not based on rolling a dice, or what card comes off the deck next- it's based upon reading society.
"That's the way to do it" - Punch
Im more than happy to sell you L$ for Bitcoin. I have just over 1,000,000 L$ and would prefer to have more BitCoin.
After which you can buy all the Windows Phones you want in Second Life. lol
...but this is the exception. The instant that people can bet money that bitcoin will decline, they will. And when a massive number of people short bitcoin, people that are long bitcoin will panic and sell. Look for the bubble to pop in the first half of 2018!
"I'm so moist I'm sticking to the leather." -Kermit the Frog on The Late Late Show
Yeh right, bubbles that stay, got it. Can I buy a Windows phone in Second Life with my Bitcoins?
You do realize Second Life is still around, still under active development, right? Even if BTC is worth $100 a year from now, people will still be using it as "remote cash".
Socialism: a lie told by totalitarians and believed by fools.
Owning a business is a risk, but not all risk-taking is gambling. Driving to work is a life safety risk. Owning a house is a financial risk. Lots of stuff you need to do in life are risks, but not gambling.
Socialism: a lie told by totalitarians and believed by fools.
You can already short bitcoin, for instance on the bitfinex exchange.
And when a massive number of people short bitcoin, people that are long bitcoin will panic and sell
Maybe not. Maybe they'll buy some more, thanking you for the low prices. And then the shorts have to panic buy. But if you're so sure that it's going to crash, why don't you open a short position yourself ?
Cause Bitcoins also waste HUGE AMOUNTS of electricity with every single transaction.
Currently it's at 271 KWh or about 9.15 "U.S. households powered for 1 day".
PER transaction.
So... every three transactions, one would waste as much electricity as one would need to run a home for a month.
It's like having to set the store on fire every time you get a loaf of bread.
Basically... using Bitcoins is the moral equivalent of dealing meth to kindergartners. Or maybe heroin.
Mining Bitcoin is the moral equivalent of producing drugs and cutting them with rat poison.
THEN dealing them to kindergartners. Preferably in poor, underprivileged neighborhoods.
GREED - fucking up future generations - TODAY*
____
* slogan is currently under the right of first refusal consideration by the US Republican Party
Mit der Dummheit kämpfen Götter selbst vergebens
I would love to update my GTX 750 to something better so I can enjoy things like the Fallout 4 HD texture pack but with anything worth upgrading to costing a fortune I just cant justify it.
The fact that PC gear usually costs a fortune here in Australia (and there aren't many options to buy online from another country where its cheaper) doesn't help matters.
You could short all major cryptos for ages now.