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... or go down the drain before that, if they fail to match btc's adoption or recognition history.
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Hm... and could the dark haired one be Meltem?
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Who are the chicks in the pic? |
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 LoL So Ball tempering is not @bitserve's trade mark.....
... or Bawb's, official founder of BTC (Ball Training Club). |
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Arthur Hayes on options. What is implied is that futures and swaps are better for traders: Bitmex is doing it right. This is only an excerpt. The whole piece is worthy of reading. https://blog.bitmex.com/when-options-part-1/Strike one! Traders will always do what is easiest if they can generate the same return profile.
Crypto volatility is very high. We are currently in a low volatility regime and 30 day realised volatility is around 40%. When pricing an option, the higher the volatility the more expensive the call or put. Therefore, option buyers, the speculators, must post high amounts of capital to obtain convex trades. In order to be cheaper than the BitMEX XBTUSD perpetual swap, the most liquid crypto derivatives product, the premium must be less than 1%. That is not possible when the underlying asset has such a high realised volatility.
Strike two! Traders will always gravitate to the product with the most leverage.
Market makers, I haven’t forgotten about you. For every buyer there is a seller. Writing options is a tough business. If the volatility is high, margin requirements for writers of options will be very expensive. Market makers must be able to write naked options while quoting. Writing naked call options on an asset that popped 40% in a few hours when Xi Jinping mentioned the word “blockchain” is risky. As a result, the margining systems employed by various platforms are extremely conservative.
The same set of crypto market makers quote crypto delta one and options products. They must decide how to allocate their capital. If the option requires more capital due to margin requirements and has less flow because it’s less understood and offers less leverage, they will provide less liquidity. If the brave speculator turns up to trade an option and you can drive a Tesla pickup truck through the spread, she will hightail it back to XBTUSD.
Strike three, and you are out! Traders prefer the liquid to the illiquid derivative.
I hope you enjoyed a nice primer on the crypto derivatives market structure and why delta one products will be preferred to options by speculators.
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Crypto Derivatives Exchange FTX Launched Bitcoin Options TradingCryptocurrency derivatives exchange FTX has launched Bitcoin (BTC) options trading on Jan. 11.
FTX CEO Sam Bankman-Fried announced in a tweet yesterday that options were listed on the trading platform. Furthermore, later the same day he also claimed that options trading volume on the exchange reached $1 million in about 2 hours.
https://cointelegraph.com/news/crypto-derivatives-exchange-ftx-launched-bitcoin-options-trading Haven't looked this up settled in cash, I wager... useless Wall Street trash? #haiku |
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My story is so pitiful you don't even want to hear it. Besides me, it involves two scammers and a boat. The two scammers aren't with us anymore. Regretfully the boat isn't either.
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Id guess true age at 38-41 range, but who knows how advanced Ho-Filter AI is these days, she might be 55.  She din use no filter on her hand did she. |
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LOL!  Man, I knew we had something in common - here´s how we Greeks roll!   Your nerdiness isnt a question at this point, its well established.  Now do what you do best and get back to sifting through girly travel instagram pics for some cool poser pics to impress people who cant right click. Let's not be too kind to the relevant instaslut with inappropriate words such as "girly". I bet she's over 45. |
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Is there something? Do I need to let my GF make further purchases ?? When I decide to give up my virginity some lucky lady will be receiving one of these.  I cringe at imagining just where and how the poor lady will be receiving it. |
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Stacking sats in my sleep. Wake me up at 8.5k. Yawn.
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It can be lots of fun if she helps! |
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El?
are you tryna tell us something?
He's not into the who brevity thing? Who is mic?
If you’re talking about the artist formerly known as micgoossens sadly he was lost in a boating accident. MicG went to the deepest depths known to bottom dwellers looking for his lost corn, and came back possessed by a joint-smoking California slacker. Mister Lebowski Wait, let me explain something I'm not Lebowski. You are Lebowski. I'm the dude, you know uh uh.. Or his dudeness... Or duder you know, Or El duderino if, you're not into the whole brevity thing, damn this started way better, as it ended lol You've made a long way in the depths of haiku art have my last merit! |
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We lost 7.9k too. Not to worry too much as long as we don't reenter the downward channel.
Sideways it is.
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I was tempted to introduce them into the concept of Sats and pull out the gold kilogram vs. ounce (or gram) comparison. I didn't do it for my own sake. Would have been like teaching a turtle how to ride a donkey  I fully understand you! (I've learned that it's not healthy to assume a certain level of comprehension, especially in the "real world".) Because there's quite a chance you may have more success with the turtle... It is possible strapping turtles to horses can't strap nocoiners. #haiku |
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Alev full circle "Private keys to a million" From shill to scammer #haiku |
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https://medium.com/block-digest-mempool/the-next-decade-6f8033ff7d2a?I have written and published the first piece, a massive 30 minute read on the next decade of Bitcoin inspired by Brian Armstrong's garbage Nakamoto piece. I can't finish until tomorrow, but I will publish it broken into pieces as well. (Medium post limits) Yes it's long, but it's also broad and deep Where's the longish piece? I didn't find a link in the twitter thread, but maybe I'm just being slow. By the way, did you try clicking on the medium.com link immediately above the twitter link in your above quoted text?  I deserve this  |
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I mostly agree, but the weekend might still have some spare fuel to burn with the reduced liquidity, so the odd pumperino can never be ruled out. Ohh her wanton ways...
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