GOOD NEWS! Bitcoin Futures trading seems to be stabilizing its volatility.
Get ready for some extreme Bitcoin stability.
The CBOE was the first to introduce bitcoin futures as products today and even if they won't allow people to take short positions initially (and with hiked margin requirements of minimum of 40-50%, which is much higher than just about any other asset) the futures contracts is to be cash-settled based on the auction price of bitcoin in dollars on the Gemini exchange.
What is it doing to Bitcoin prices?
It seems to be stabilizing them around the 16000$ today. (+-1000$)
with a growth rate of under 5-8% (more realistically manageable, less bubble-like)
Decreasing the volatility that has been so common with Bitcoin during the last year of growth.
I hope the stability lasts.
Is this good for Bitcoin? YES.
Bitcoin values stabilizing, should promote growth in the long term.
3 month trading for futures is at 20000$ which is a really good sign.
I assume the reason is that with a more stabilized value, bitcoin is now a much more attractive currency to use.
(price fluctuations cause headaches for vendors) Expect more vendors to start eyeing Bitcoin as a viable currency.
Perhaps Steam will reverse its recent decision to drop the crypto currency and start again accepting Bitcoin payments again now that Bitcoin value is becoming less volatile.
These opinions are my own.
(If you think Bitcoin is a tulip bubble or ponzi scheme, please read this. )
https://decentralize.today/bitcoin-is-the-total-opposite-of-a-ponzi-scheme-heres-why-4d795f0ed
to learn more about XBT futures check out
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
bitcoin has become a fad in the world currently.
An idea,a fad or a trend, like any invasive species ... shows up, spreads, and has its' chance to settle into a niche and grow. It may fizzle, it may work out. It's not very clear at first. It needs to serve a function, improve, quality of life somehow. If it's useful the market for it stabilizes a bit and once it finds its' balance, the early adopters gain significant advantage. Late adopters regret missed opportunity.
Traits our environment seems to select (favor) these days seems to be our ability and willingness to innovate and adapt rapidly an a world that is ever changing at an accelerating pace.
hello, I will support you but please follow the rules in the group, resteem someone from the group and then you can post in it, I am talking about this geroup : ↕ Resteem to steemit.
I've resteemed a few people from the group. Great stuff. :-)
a great group of people.
:-)
thanks, you are welcome to post again in the group, I will approve now.
thanks :-)