here is the specifics... http://www.cmegroup.com/trading/bit...itm_medium=cse_promotion&itm_campaign=bitcoin I am very familiar NQ, ES etc... help me understand this... the contract is $25 and it controls 5 Bitcoins ?? am I reading that right?
I know you were hoping you'd be getting your Xmas gelt before it started. Time to bust open that piggy bank
OK let me see if I got this right. And I’m going to use some round numbers so this won’t benprecise. I want to make sure I understand this because I have never held futures contracts overnight as I’ve only day traded them utilizing max Margin for intraday trading. Currently the ES is approximately 2600. The ES has a 50 X factor. . So right now for an investment of $2600 cash (no margin) in your account you can hold one ES mini ,carryover night, hold for weeks or months and you control a $135,000 asset. Currently the longest expiration in June 2018 If I got this right for a $25 investment we will control five coins. If bit coin was at 10,000 we would control he $50,000 investment for a 2000 leverage factor. Sure that’s going to be phenomenal when things go the right way. But there could be a very dark side that much leverage. Am i reading this correctly?
Haha. Now am I correct. Cause 2000 leverage is just whacko. Why is CME structuring the contract like that ?
That's a bit odd comment (coming from you). You know that GBTC is fully backed by real BTC, so it's price will at least match that. It's normally (much) higher quoted because it's (currently) the only ETF tradable by Americans. And thereby the only one who can be held in an IRA-account (with all its TAX benefits). As far as I know you cannot hold Futures in IRA, so as long as there aren't yet other ETF's this GBTC is king.
There’s already enough risk with bit coin already. I don’t want the additional risk of an exchange I can’t trust, having to keep my keys secure, wallets and all that mess.
John, I dont get it. Why dont you just do your homework, buy BTC, store it on an airgap hardwallet and forget it. You just dont know how this stuff works, man. You trust IB more than yourself?? WTF?! IB can blow up. Government can seize your account. Hell, who would have thought REFCO would go belly up? The only thing that cant ever blow up is your private key. Don't be such a sheep...that's pathetic. Get yourself a book about Bitcoin or at least read the couple of pages of Satoshis whitepaper. You don't even want to trade, you just want to hold. And there's nothing safer than a hard wallet...and you want to hand over your money to a broker??? Why???