https://www.forbes.com/sites/petert...res-fail-to-live-up-to-the-hype/#534799d34052 hmmm, maybe all the crypto traders are 16 years old Koreans that can't open futures accounts
Unbelievable. How do these people get paid money to spout the obvious? What is that hack earning? 6 figures? Welcome to the party pal! Thanks for your bloody insights!
Kind of a bummer given that they represent more safe trading venues from which to even touch this thing at all. The rest of the exchanges might as well be fly by night bucket shops - as when the shit really hits the fan they'll act accordingly. In the back of mind I kind of viewed the introduction of the futures (in general) as sign of a possible overall top anyway. You also can't wrap dogshit in a futures contract and expect to legitmize the whole thing from its inbuilt problems.
Futures were a failure because there is no real tie to the coin itself and no MM wants to warehouse that risk. As for the top, I honestly have no opinion. Is it going to zero from here? Possible, but unlikely. Is it going to 50k by the end of the year? Also possible and even more unlikely. If I had to guess, I'd say it's gonna be a boring, aimless drift between 10k and 20k for a while.
It might be low volume but still higher volume than a lot of other contracts that exist out there. I just hope they list other cryptos and not call it a day if bitcoin is dethroned by ripple or ether down the road. The ability to trade crypto in established markets is awesome. I'm sure the volume in the ES was shit when it first came out too. The write of the article is just looking for attention.
Why would I want to get paid in bitcoin? Most speculators just want to speculate on btc they don't need "physical" bitcoin to do that. Not to mention why would I want to hold actual btc and worry about hackers or cold storage problems. I'm perfectly fine not taking delivery if you ask me. I don't think it being cash settled makes any difference.