CME Futures are coming!

[suzanne5223]

The CBOE and CME bitcoin contract futures has already created a massive demand of bitcoin which literally generate the transaction congestion we're experiencing lately and I hope something will done to fix though.

[eaLiTy]

Yes. There is a vast chance of being affected by the upcoming bitcoin. We know that, if the supply of the bitcoin increases, then its price will fall.

What you are even talking about,increasing the supply of bitcoin.
The news of a future derivative market drove the price to these levels without a doubt,i was expecting a correction for a very long time and it is still not happening in the price and with the derivatives market being launched in December,i would like to see what the price would be by January and will there be much volatility in the price and so on,i do expect a correct once everything is launched and when there is nothing more to speculate.

[fatalbert]

Well the repercussions are clearly shown in terms of the price of bitcoin.

Too much hype, which is causing literally everyone to call bitcoin to be a bubble, just like the real estate bubble back in the day.

Stupid people want to pump the price so badly, gain the attention and boom ruin the whole thing after some time. Don't want stock market people to come play with bitcoin now, seriously.

The crypto world is much better without the likes of them. But fucking no one can do anything 'bout it. 

Wow, so you really think the CME and CBOE involvement is bad?!

I think it will only be good for Bitcoin. And let me explain to you how this will work, because I think you may be misinformed.

Futures transactions will happen via the futures market the CME and CBOE use. The buy and sell transactions are cleared through their network. These transactions will not hit the blockchain, therefore the daily volatility of futures contracts won't directly impact the price of Bitcoin.

What will influence the Bitcoin price is these investment firms (or individual investors) having to buy and hold Bitcoin as reserves to back some of the futures transactions. If you're selling a covered put (for example) you need to own Bitcoin to cover the sale. Instead of individual investors buying Bitcoin and holding it with these investment firms, the investment firms will likely buy Bitcoin to hold as reserves for the transactions.

This futures business should create more buy and hold investors.

Not correct cause its cash settled.

[fatalbert]

Is there a chance that the the bitcoin futures price will be used a standard price for bitcoin?

This is my #1 fear and will be tail wagging the dog.

I fear the news is going to only quote futures price and people will use this price only and fearful and sell actual BTC. Hence tail wagging dog.

Now if retailers know to only check GDAX/Coinbase/Gemini, etc we are good to go and Wall  St. firms will blow up pretty fast since their endless amounts of fiat don't move physical BTC as "we" are all privy to their game.


BTC and the futures are connected in no way. 1 is a paper bet with endless fiat. 1 is actual BTC trading.

Stay strong and spread the word.

[poliy1219]

People who hate the stock market are getting into the encrypted currency. They don't understand block chain technology at all, so that they come to the market only to make the encrypted market unhealthy. Today's dramatic fluctuations are also seen, which is directly related to futures entering bitcoin.

[DronICO]

The end of the year marked the arrival of bitcoin futures contracts. Since CME Group and the CBOE announced their bitcoin futures contracts launch - the world awaits for the new wave of Bitcoin adoption.

In this article you can find the most important information about upcoming bitcoin futures.

1. CBOE Futures

Sales date: December 10, 2017

Contract unit: The Cboe Bitcoin Futures Contract will use the ticker XBT and will equal one bitcoin.

Trading hours: Cboe’s XBT contract will trade on CFE, with regular trading hours of 9:30 a.m. to 4:15 p.m. Eastern time on Mondays and 9:30 a.m. to 4:15 p.m Tuesday through Friday. Extended hours will be 6 p.m. Sunday to 9:30 a.m. Monday, and 4:30 p.m. Monday through to 9:30 a.m. Friday.

Margin rate and clearing: Cboe’s contract will clear through the Options Clearing Corporation and a 30% margin rate will apply.

Contract expirations: Cboe said it may list up to four weekly contracts, three near-term serial months, and three months on the March quarterly cycle.
Price limits and trading halts: Cboe will halt trading in its contract for 2 minutes if the best bid in the XBT futures contract closest to expiration is 10 percent or more above or below the daily settlement price of that contract on the prior business day.

2. CME Futures
Sales date: December 17, 2017...

Most likely it will be a bear affecting for a whole crypto market because a huge players will finally have a way to take all those crypto enthusiasts' money! Did yall really think that everybody could become mi/bilionaire and take this OG economic system down which was created through many wars and a blood in our history? I dont think so. Be ready for a huge dumping and better stay safe at these dark times.

[rohqit]

As a contrarian, the obvious answer is that this will cause massive manipulation of btc price resulting in erratic swings up/down but I will go against popular judgement and say it will cause continued upward trend .... but these thieves may stay true to form and destroy btc

[fanbeila]

It would affect the bitcoin market positively in the short term and negatively in future as it may crash just as it happened in tulips.But what we could see now is that most of the investors are excited about price hike.Some term it that crash could happen like tulips while some others say that there would be no negative effect sincpetrolfuruoil futures is there and it has not affected the oil prices.

[bryant.coleman]

It will definitely have an impact, as investors who are skeptical about the crypto-exchanges will start investing in Bitcoin through CME and CBOE. But still, I think that an ETF based on Bitcoin will be having much more impact. And from what I have heard, some of the mainstream traders are considering listing Bitcoin ETFs in NASDAQ in 2018.

[BlockMedx]

With the amount of institutional money that's going to have exposure via the CME and CBOE there's no way it won't have an effect.  The exact magnitude remains to be seen, but it will absolutely affect the market.

[mahibul49]

definately we can see its effect on marhet.its clearly predictable

[Andre_Goldman]

What is XBT ? sorry feel like I'm recovering from stroke ... 

[faucetpig]

What is XBT ? sorry feel like I'm recovering from stroke ... 

XBT means a currency not officially recognized by any country
X currencies get that abbreviation.
BTC is well the name we use

[Super T]

2> The CME futures are financially settled, as opposed to physically settled.  While not confirmed, this will be based on an index of real exchanges such as GDAX.  But, this only matters for contract expiration.  (The daily settle will be based solely on the price of the futs themselves, not on external real exchanges such as GDAX.)

Settled against Gemini.

From CBOE website: http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures?utm_campaign=bitcoin-futures&utm_medium=vanity-url&utm_source=na

"XBT futures are cash-settled contracts based on the Gemini's auction price for bitcoin, denominated in U.S. dollars."

This is likely responsible for recent GBTC correction. https://seekingalpha.com/article/4130800-bitcoin-investment-trust-set-big-correction

[Capitalist_Dog]

The most important aspect of these futures products is that large enterprises, PayPal/Venmo for example, can add Bitcoin products without currency risk. This enables massive onramps for adoption.

[wagi]

I thought it was going to require physical delivery, but it seems it's a cash settlement system, If the market becomes large enough, it means that the banks can manipulate the price, and increase their holding in Bitcoin at the expense of the speculators. This will be bad for the reputation of Bitcoin.

If manipulation of bitcoin price really happening, it will make people dont believe to bitcoin anymore i think.
They think will loss if someone or company have power to control or manipulate the price.

[chris molty]

I'm curious to see how bitcoin will react

[andylioe78]

Bitcoin may not explode soon, there is great support for the moment Maybe it will not go down for a few months, as you have seen if the stock market wants to invest something, they invest heavily in the next 3-6 months, when they find out that people are very interested to buy bitcoin, they will throw it away so that people lose confidence in their investment, they become disappointed and even Depression is very common now, only the SEC can do something and set some kind of limitations for example..only God knows.

[timisis]

As we "all know", market makers get clued from derivatives about what and where to price. Except that BTC has so little market making that I cannot see an immediate effect

[ashao1015]

Their site is much slower than I would expect. They probably have some problems with high amount of traffic.