What To Expect From Tomorrows Bitcoin Futures Trading? By Andreas M. Antonopoulos
Andreas M. Antonopoulos is probably the most recognizable figure when it comes to Bitcoin. But he also is, and I bet you didn't know that, part of a committee in CME, or Chicago Mercantile Exchange. Why is that important? Because starting December 10th, which is tomorrow, and December 31st, CME will trade Bitcoin futures. This event was touted by many analysts as being at the core of the recent price surge in Bitcoin.
So, I took 10 minutes and watched this video and I think you should watch it too, at least to know the implications for the market at a higher level.
Here are the blurbs:
- futures trading will be made by using two prices: spot and point prices
- how do you select exchanges for price feeds? Well, one condition is for them to have transaction fees, otherwise they'll pump price through wash trades
- if BTC price changes more than 7% Bitcoin futures trading will cease. At today's situation, it will cease 3 times a day
- who's going to short Bitcoin? Probably miners. This is a good thing, because right now nobody can short Bitcoin. It may provide some cushion for regular investors too,
- futures may bring volume to Bitcoin. A lot of volume.
Also, if you don't know, there is a recent trend about donating Bitcoins to Antonopoulos, which resulted in more than $1,6 millions received so far. So, if you liked the video above and have some disposable Bitcoin, you should definitely send it to his Bitcoin address.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
https://steemit.com/~witnesses
If you're new to Steemit, you may find these articles relevant (that's also part of my witness activity to support new members of the platform):
That was super-interesting but you said it all in 2 phrases :-)
this will help crypto go main stream.
@dragosroua I would like nothing more than Bitcoin to take OFF and leave the CME in the DUST !!
CME is not Wall Street. Well that makes me feel better.
Ceasing future trade if more than 7% change in BTC value, seems like prudent policy to me...I guess we will see tomorrow what future unfolds:)
Very informative, I hadn't heard what he thought about it all yet, and it's great to know that he's on the advisory board for the CME
Tip coming your way!
Cg
Thanks for the tip, appreciate it :)
My pleasure, this article made my morning :-)
Cg
bitcoin is the future. Lot of people have millionaire now. I will definitely think about your suggestion regarding Antonopoulos. Thanks a lot @dragosroua for sharing interesting stuff. Keep posting about cryptocurrency and Stay Blessed!
i think, life time support for bitcoin.... very nice video. upvoted
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excellent video sharing
thanks for sharing
Very interesting. Do you know what time-frame we're talking about for the 7% trading shut-downs? It seems essential to know the precise criteria for when it will stop and restart.