That's true, BTFD.

Looks like we are due for a dip down to at least $10k soon.

Can bitcoin please double in a day like IOTA? Like $100k to $200k would be nice. Come on Wall Street. I start selling my coins when you pump us to $100k.

How do you short IOTA? This shit is getting stupid. At this rate it will overtake bitcoin in about a week.

So later this week?

They obviously don't make any money from the site so they have abandoned it.

BTFD

Jesus, fuck off already. Ignored!

At 43:06 of the video, does he say "the owner of bitcoin cash doesn't like it being called bcash"?

https://www.youtube.com/watch?v=OJT2CbfHTpo&feature=youtu.be&t=43m06s

Assuming a network at 10 Exahash/10,000 Petahash/10 Million Terahash/10 Billion GH/s and an average miner efficiency of .3 Watts per GH then I come up with 26.28 terrawatt-hours/year. That is about the efficiency of an Antminer S7 but the majority of miners are probably S9s or equivalent so that seems really high. .2 Watts per GH/s would still be high but closer to reality considering other power costs such as cooling. That would bring us down to 17.52 terrawatt-hours/year.

10,000,000,000 GH/s X .2 Watts/GH/s X 24hours X 365days = 17,520,000,000 KW/h or 17,520,000 MW/h or 17.52 TW/h

It's all based on your assumptions and of course the article didn't say what assumptions it used.

Here is how I understand it:
Trade 1:
If the futures contract price is above the current BTC price (say future contract is $11000 vs actual BTC at $10000):
(1) Sell (short) the futures contract. $11000
(2) Buy actual BTC for a lower price than the futures contract settlement rate. $10000
(3) Wait until the futures contract settlement date to cash in the futures contract and sell the BTC you bought as part of this trade.

It's a risk free trade. No matter what happens, you have a $1000 USD profit minus trading fees and borrowing costs.
If BTC/USD drops to $9000, you will lose $1000 value on your BTC but your futures contract short will be worth $2000 so a net profit of $1000.
If BTC/USD stays at $10000, your BTC is worth what you bought it for but your futures contract short is worth $1000 so a net profit of $1000.
If BTC/USD goes to $11000 and the contract settlement rate is $11000, you make nothing on the contract but the BTC you bought for $10000 is worth $11000 so a net profit of $1000.
If BTC/USD goes up to $12000, your BTC will be worth $2000 more than you bought if for but you will lose $1000 on the futures contract short so a net profit of $1000.

Trade 2:
If the futures contract price is below the current BTC price (say future contract is $9000 vs actual BTC at $10000):
Reverse trade 1 above.

So, the prices should stay in sync assuming enough people arbitrage. Of course, traders know arbitrage will happen so prices should stay in sync even without it. The futures price will be an indicator traders will use.

The interesting part of either scenario is the limited supply of coins for sale and to borrow for shorting and the nearly unlimited supply of fiat in the world. Could get interesting.

Jesus... So many ignored posts in the last page... Bullish?

Also, even if they have a working prototype, there is no guarantee that they deliver on time and within specs. They are funding the production run with the presale.

Just a $500 drop, nothing to see here...

That may be true but how could they not know that? The current block is known and it follows the exact same distribution as bitcoin. Seems like they would be able to figure it out since they figured out 1200+ shitcoins.

BTG started trading on Bittrex a couple of hours ago and it is surging. Sure wish Coinmarketcap would get their shit together and add it to the first page. It is currently the number 5 coin by market cap.

You can bet someone will be making that arbitrage trade even if it's not the regulated Walls Street money. You can also bet that Wall Street will be pressuring regulators to let them play.

They have to buy or sell "actual" bitcoin for the arbitrage to work without risk exposure.

It's probably a good idea to read about futures to understand how they can affect the underlying commodity. If there is a price difference, people can make a profit by arbitrage. Who knows what the volume will be on CME or whether that volume will be enough to move the bitcoin price though.

https://www.investopedia.com/university/futures/
https://www.investopedia.com/terms/c/cash-and-carry-arbitrage.asp

Once Coinmarketcap gets the market cap correct (not sure what's taking so long), I think it will help. It is really the number 10 coin right now but it isn't showing up.

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.