LaBitConf Update- Bitcoin and the CME Futures Market.
I Was Worried About the CME Bitcoin Futures Market Until Now.
Two days ago I sat and had lunch with Trace Mayer and he told me my worries about the CME were unsubstantiated. Today I listened as Tone Vays explained why the CME will have less of an impact than we think.
I now feel much better about Bitcoin in 2018 than I did prior to arriving in Bogota, Colombia for LaBitConf 2017.
Bitcoin 😂 = +11000$ WTF
Over $15k now!
Thank you for your opinion, up to a certain point, of course, fears for the fate of Bitcoin have always occurred, but futures trading seems to me to be the official recognition of US Bitcoin! Thank you for the video @hilarski
exactly. this legitimizes cryptos for the mainstream which will only push the values higher. WALL STREET and the CME will NOT and more importantly CANNOT fundamentally change bitcoin. They are looking stupid because they cozied up to the central banks and now this whole new, global, organic, free (you know what I mean) system is lose and they didn't participate. And yes, you have to understand the difference between price and value!!!!
the CME Bitcoin Futures Market post is nice, you say right, your Bitcoin discription is nice,
In my opinion futures can only affect badly for BTC in 2018.
Very interesting post. Some ideas from my economic studies at university:
The fact that they don't have real bitcoin doesn't really matter. The future will be negotiated on a regulated and opern market and probably CME volumes will be really better than Exchange volumes. So, in the market, people will psicologically be influenced more by future than by realt BTC. I study economy and this is normal for evry real asset that has a future. Wen you open television and they talk about oil price, they don't say "oil at the saudi oil camp is...." but they say "future's prices are...". So with CME futures some big market shocks can be trasmitted to Bitcoin.
What will be banks-Future relation?
So, pay a lot of attention. Surprises are really, really possible.
Hope for the best, prepare for worst :D
That was my original worry. I am not as worried as I was prior to talking to the guys.
I believe that tecnically what you said in the video is correct.
But personally i believe that bitcoin price will be moved by the future market because it will be the merket under all word's eyes.
Then, we also have to consider that future will be based on a index of prices based on exchanges Bitstamp, GDAX, itBit and Kraken. So the reference market won't be as big as the whole bitcoin market and will be itself easier manipulable than all the BTC market.
PS: you can find official CME announcement with exchange list here http://www.cmegroup.com/media-room/press-releases/2017/10/31/cme_group_announceslaunchofbitcoinfutures.html
maybe you already know the link, but I imagine some users will find this info useful :D
bitcoin is fly fly haha
well sir if u ask my opinion if u want to do long term investment then u should go for monero or Zcash....this currencies have lower market capacities and monero is quite a famous currency too so probability of monero is highest after bitcoin.... ones bitcoin hits a higher values people will look for alternate ways....Investing in the currency is more like investing in collectible people r buying them coz there are less of the out thr if i had alot of money i would buy something rarer than something with alot of market capacity....If ur a long term investor u should know the meaning of increasing demand thats the main thing happening in the market right now it will sure make few currencies reach top of the market..
btc hits 10k euro :D
awooooooooooooooooooooooooooooooooooooooooooooooooooo
CME Group will launch Bitcoin futures, based on the CME CF Bitcoin Reference Rate (BRR), on December 18, 2017, building off of the success of the BRR and demand for a regulated trading venue for the digital asset market.
feel free to read here..
Your opinions about the bitcoin and CME group future venture gives us more strength to go with BTC. Thanks for your support.. @hilarski
Great video conversation @hilarski. I think BTC will rise up more onwards. BTC is great investment currently.