Reminder!! Today in 35 Mins. - The FIRST Bitcoin Futures Trading Platform Goes Live! 6 pm EST! Shocking the Statism Outta Wall St.
TLDR:
As I blogged about last week right here - the CBOE exchange goes live TODAY at 6 pm.
We saw yet another massive week of volatility in the crypto space this week, huge gains and losses and swings for all coins, in all directions pretty much.
Judging by the volatility in the last 18 hours of trading already, we might have an idea of what is to come...
-- Those are swings in the last 24 hours alone from $13,200 to $15,800 USD. A swing of $2600.
Ha, even the crypto volatility is likely to shock the statism right out of some of the Wall St. traders.
(:
Overview/Links/Ticker:
-- Investors and speculators are interested in what will happen when the derivatives products launch, because at the moment there are no open standards for this type of cryptocurrency-based investment vehicle.
-- It’ll be sold under the ticker XBT.
-- The much larger CME Futures for Bitcoin launches in a few days and will trade under symbol BTC. Order there = 5 BTC.
-- Investors will be able to trade from 9:30 am to 4:15 pm EDT, and trading is also available during extended hours.
-- There are no bitcoins involved with contracts as all of the trading is cash-settled in USD at settlement times. However, contract sizes are equal to ‘one bitcoin’ based on the USD price of BTC on the Gemini exchange.
-- Futures investors can purchase a minimum of $10 per contract which are tethered to specific time periods.
--
“The contract multiplier will be 1 so if a contract is trading at parity with bitcoin its worth will be based on current pricing — The minimum tick for a directional, non-spread trade is 10 points or $10, and a spread trade will have a much smaller tick of 0.01 bitcoin or $0.01,”
-- revealed Cboe’s CFA Russell Rhoads this past November.
--
-- The cut-off time for all orders, quotes, cancellations and order modifications for XBT futures will end at 3:14 pm EDT.
-- In Order to Purchase Bitcoin-Based Futures, You Need to Contact a Brokerage Firm
-- Currently, there are no price limits, but there can be timeouts during trading sessions. That means during extremely volatile times Cboe’s bitcoin future markets can be halted. According to Cboe’s rules:
Individuals cannot own or have control of more than 5,000 contracts, net long or net short, in XBT. Also, investors cannot hold more than 1,000 contracts net long or short with existing XBT contracts set to expire.
-- Individuals interested in investing in Cboe’s bitcoin futures products will be charged a basic retail rate of $1 per contract, but for the rest of December, the firm is waiving fees.
-- People and organizations will have to contact their brokerage firm to purchase XBT contracts. However, at the moment many financial institutions are not quite ready to take on the task of selling these futures. Institutional clients can purchase XBT from more prominent brokerage firms like Goldman Sachs and JP Morgan. However, these companies will only offer bitcoin futures to a particular group of customers at the moment.
CBOE Link to Bitcoin Futures Info, Tickers, etc.
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
--
CNBC Ticker Link: https://www.cnbc.com/quotes/?symbol=BTC.CB=
The CNBC ticker tracks the USD price via Coinbase -- NOT the Gemini Exchange in NYC that tracks the CBOE Futures price, remember that!!
Main Info Source
Thanks for reading, have a nice day.
My Philosophy In Daily Life & Travels:
I have always tried to be kind to people every day, as part of my life Philosophy, since I have always believed we can achieve more TOGETHER.
My path to Crypto is with you guys and we are on the path to Liberty.
We are all early adopters here, if you are even close to reading this today.
Be encouraged.
If you online search my name + PIZZA -- you will see my deep love of the pie as I seek to eat it, wherever I am, or whatever I am doing.
Life Goals:
-- Get Paid to Travel and Blog about Pizza & Those Travels.
-- Buy a Pizza Store.
-- Become Crypto Currency Independent and Love Liberty and Life!
-- Continue to Hold and Sell Real Estate as I have done for clients since 1991.
Don't let anyone tell you twins are a problem ever!!!!!
FUD or no FUD!!!
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
https://steemit.com/funny/@barrydutton/we-did-it-we-are-bitcoin-forkening-survivors-lol
Most stock Images / Gif's day to day- usually via Giphy.com , Funny or Die.com, Imgur.com, PixaBay unless otherwise noted, with thanks.
Sources usually on image or credited if I cannot find it on an image, but sometimes I forget, sorry if this bothers anyone.
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
EOS (EOS) - 0xD37bEFf5bf07E3aa432de00cE0AaA8df603A4fB0
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
This has really upset some people but I do not force my opinions on others, or need to communicate every detail of my life or issues, most people do not care anyways. I invested around 10 hours or more a day on Steemit most of my first 13 mths here, I just do not have that time in my life right now, and that includes for replies and voting/curation.
I have done my best, sorry if you do not understand like some are clearly having a problem with. It's a blogging platform, and I will do my best at everything, and to keep blogging.
Carry On.
TLDR:
As I blogged about last week right here - the CBOE exchange goes live TODAY at 6 pm.
We saw yet another massive week of volatility in the crypto space this week, huge gains and losses and swings for all coins, in all directions pretty much.
Judging by the volatility in the last 18 hours of trading already, we might have an idea of what is to come...
-- Those are swings in the last 24 hours alone from $13,200 to $15,800 USD. A swing of $2600.
Ha, even the crypto volatility is likely to shock the statism right out of some of the Wall St. traders.
(:
Overview/Links/Ticker:
-- Investors and speculators are interested in what will happen when the derivatives products launch, because at the moment there are no open standards for this type of cryptocurrency-based investment vehicle.
-- It’ll be sold under the ticker XBT.
-- The much larger CME Futures for Bitcoin launches in a few days and will trade under symbol BTC. Order there = 5 BTC.
-- Investors will be able to trade from 9:30 am to 4:15 pm EDT, and trading is also available during extended hours.
-- There are no bitcoins involved with contracts as all of the trading is cash-settled in USD at settlement times. However, contract sizes are equal to ‘one bitcoin’ based on the USD price of BTC on the Gemini exchange.
-- Futures investors can purchase a minimum of $10 per contract which are tethered to specific time periods.
--
“The contract multiplier will be 1 so if a contract is trading at parity with bitcoin its worth will be based on current pricing — The minimum tick for a directional, non-spread trade is 10 points or $10, and a spread trade will have a much smaller tick of 0.01 bitcoin or $0.01,”
-- revealed Cboe’s CFA Russell Rhoads this past November.
--
-- The cut-off time for all orders, quotes, cancellations and order modifications for XBT futures will end at 3:14 pm EDT.
-- In Order to Purchase Bitcoin-Based Futures, You Need to Contact a Brokerage Firm
-- Currently, there are no price limits, but there can be timeouts during trading sessions. That means during extremely volatile times Cboe’s bitcoin future markets can be halted. According to Cboe’s rules:
Individuals cannot own or have control of more than 5,000 contracts, net long or net short, in XBT. Also, investors cannot hold more than 1,000 contracts net long or short with existing XBT contracts set to expire.
-- Individuals interested in investing in Cboe’s bitcoin futures products will be charged a basic retail rate of $1 per contract, but for the rest of December, the firm is waiving fees.
-- People and organizations will have to contact their brokerage firm to purchase XBT contracts. However, at the moment many financial institutions are not quite ready to take on the task of selling these futures. Institutional clients can purchase XBT from more prominent brokerage firms like Goldman Sachs and JP Morgan. However, these companies will only offer bitcoin futures to a particular group of customers at the moment.
CBOE Link to Bitcoin Futures Info, Tickers, etc.
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
--
CNBC Ticker Link: https://www.cnbc.com/quotes/?symbol=BTC.CB=
The CNBC ticker tracks the USD price via Coinbase -- NOT the Gemini Exchange in NYC that tracks the CBOE Futures price, remember that!!
Main Info Source
Thanks for reading, have a nice day.
My Philosophy In Daily Life & Travels:
I have always tried to be kind to people every day, as part of my life Philosophy, since I have always believed we can achieve more TOGETHER.
My path to Crypto is with you guys and we are on the path to Liberty.
We are all early adopters here, if you are even close to reading this today.
Be encouraged.
If you online search my name + PIZZA -- you will see my deep love of the pie as I seek to eat it, wherever I am, or whatever I am doing.
Life Goals:
-- Get Paid to Travel and Blog about Pizza & Those Travels.
-- Buy a Pizza Store.
-- Become Crypto Currency Independent and Love Liberty and Life!
-- Continue to Hold and Sell Real Estate as I have done for clients since 1991.
Don't let anyone tell you twins are a problem ever!!!!!
FUD or no FUD!!!
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
https://steemit.com/funny/@barrydutton/we-did-it-we-are-bitcoin-forkening-survivors-lol
Most stock Images / Gif's day to day- usually via Giphy.com , Funny or Die.com, Imgur.com, PixaBay unless otherwise noted, with thanks.
Sources usually on image or credited if I cannot find it on an image, but sometimes I forget, sorry if this bothers anyone.
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
EOS (EOS) - 0xD37bEFf5bf07E3aa432de00cE0AaA8df603A4fB0
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
This has really upset some people but I do not force my opinions on others, or need to communicate every detail of my life or issues, most people do not care anyways. I invested around 10 hours or more a day on Steemit most of my first 13 mths here, I just do not have that time in my life right now, and that includes for replies and voting/curation.
I have done my best, sorry if you do not understand like some are clearly having a problem with. It's a blogging platform, and I will do my best at everything, and to keep blogging.
Carry On.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
EOS (EOS) - 0xD37bEFf5bf07E3aa432de00cE0AaA8df603A4fB0
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
This has really upset some people but I do not force my opinions on others, or need to communicate every detail of my life or issues, most people do not care anyways. I invested around 10 hours or more a day on Steemit most of my first 13 mths here, I just do not have that time in my life right now, and that includes for replies and voting/curation.
I have done my best, sorry if you do not understand like some are clearly having a problem with. It's a blogging platform, and I will do my best at everything, and to keep blogging.
Carry On.
I think the initial futures investors are the more higher risk speculative investors. I think the more conservative investors will sit out on the sidelines for a few expiration's to see how it all plays out.
Good bolg, good links and timely post! Nice to meet you Barry, I hope you will take a few moments and review my blog and if you like it, FOLLOW me (as I did you), Viva decentralization !
PURA VIDA
One thing's for sure - it's gonna be more of a roller coaster for sure. I think I'll hold out for $40K on btc then cash about 70% out.