Bitcoin Forum

Does anyone know the terms of the BTC futures contract?  I just find it highly unlikely that there would be a market crash on the same day futures are expired. 

From my understanding, a futures contract is a gamble on the price of BTC at a later date.  The higher the value of the asset, the more the bank has to pay out.  Is this right?

The pump in December and the crash now in January were provoked by banksters.

January crash would happen anyway, it happens every year, but the sharp way it did was only possible because of Wall Street manipulation.

To win the short contracts, they had to buy lots of bitcoins, in a small window time, hence the pump in December. They also pumped ripple, to be able to buy bitcoins from noobs. With enough supply in the exchanges, they just shorted it.

The lack of available supply in cryptospace did not prevent their plans, as a single dump sparked the panic. The rest was done by noobs selling their positions, finally dropping the price to what was "predicted".

If they will repeat it? Sure they will, they did it with gold and silver, and see now who controls PM supply. As more and more noobs get traumatized by such dumps, more will be out of cryptospace, ensuring market dominance by those sharks. Bitcoin will not turn into a currency, but a market asset.

An asset is still an asset. Might as well invest and get semi rich while we can.

So do you guys think that the plan is always going to be dumping BTC?  The next one is coming up on the 26th.

  The contract is really simple.

Each contract is composed of five bitcoin.

Each tick (the minimum fluctuation) will be $5 per bitcoin, amounting to $25 per contract. This means that every time the contract moves by the smallest increment a trader will gain or lose $25 per contract they hold.

Bitcoin futures will trade on CME Globex and CME ClearPort from 5 p.m. to 4 p.m. CT Sunday to Friday. The long trading hours are typical of futures contracts that are traded electronically.

There is a spot position limit of 1,000 contracts. Futures contracts always have limits on the number of contracts one person or entity owns. This prevents someone from being able to "corner the market."

Bitcoin futures will have a price limit of 20% above or below the prior settlement price.

Price settlement will be based on the Bitcoin Reference Rate, or a daily reference rate of the US dollar price of one bitcoin as of 4:00 p.m. London tim

BITMEX negociate futures for a long time know. I do not think the reason for this crash is related to CME

if i am not mistaken the 20% is the hard limit. there are 2 soft limits prior to that, a 7% and an 13% which if reached prior to that hard limit, the trading will stop.
http://www.cmegroup.com/education/cme-bitcoin-futures-frequently-asked-questions.html

No came on, the crash wasn't caused by that.. If the price dropped, it is only because a lot of people were panic selling all their cryptos and this was the real reason of why it happened. So no, banks have nothing to do with all this mess.

they can't naked short bitcoin..  don't even bring up the raping of the PM market in same sentence with bitcoin

Every time there is a 10% and 20% price change there must be some mastermind behind it.
Evil bankers, Illuminati, reptilians all the conspiracy fauna in the universe.
What is wrong with you people these days?

You really think there is a "they"? Who are they? What is this entity?
They all got together in a secret bunker and then they said, let's manipulate the bitcoin price, let's risk billions in this to make a few millions.

And they choose to pump and dump, rather than buying coins propping up the value to 25 k and then slowly dumping it and making billions clean and safe. Don't you have the impression that this lame tactic you present is more the result of a 10 yo than the tactic some organisation smart enough to control the world finances would chose?

How does it feel to be wrong?

Not when they use 10x leverage in their contracts, paid in cash.

It's not highly unlikely because there is a futures expiration every month and bitcoin makes a significant move in one direction or the other like almost every week, if not more than once per week. It's really not unlikely for them to coincide at all.

Also futures contracts are cash settled and don't involve any transfer of actual bitcoins, which means that they don't affect bitcoin price at all.