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Author Topic: Bitmex CEO: 24/7 Trading Of All Types of Assets Is The Future  (Read 112 times)
cybersofts
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December 18, 2018, 06:03:23 PM
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Arthur Hayes, the CEO, and co-founder of BitMEX, an exchange which has done almost $1 trillion in volume over the past year, spoke on the most recent episode of Laura Shin’s Unchained podcast from the CME Global Leadership Conference in Naples, Florida. Shin asked her guests what they thought the future of blockchain technology would look like.

Hayes went first, telling the story of how he had gotten involved in crypto trading. Hayes worked at Citi Bank until May, 2013. He said that when he lost that job, he got into trading Bitcoin for a living. During that time, he got into derivatives trading. About 8 months after losing his job is when he co-founded BitMEX, in January of 2014.

Then he said that he believes in the future, 24/7 trading, as we have in crypto markets but not in most stock markets, will become the norm.

    What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets. […] I think 24/7 trading of all different types of assets is something that’s going to be the future, and that will bleed into other markets we’re all familiar with, you know, FX, fixed income, and equities.


Reference: https://www.ccn.com/bitmex-ceo-24-7-trading-of-all-types-of-assets-is-the-future/
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December 18, 2018, 07:22:12 PM
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What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets.
This is so true. I would have never known how the financial markets work had it not been for the bitcoin and altcoin exchanges. You don't have to be a wealthy client, you don't have to have brokers, you don't even have to have a bank account. Everyone is welcome, not only the elite. I don't know whether or not the financial markets will follow this crypto model in the future, but having the financial market open for all people would be really cool.
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December 18, 2018, 07:49:32 PM
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I'm not sure how we still have a system in which markets are not 24/7. It just seems so outdated to me. I believe it's so that corporations can protect themselves from big market movements, but then again markets still fluctuate in their closed hours because somewhere in the world there's almost always a market open.

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December 18, 2018, 08:08:43 PM
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What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets.

Yes, a whole new class of victims for the financial market predators to feast on Wink


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December 18, 2018, 09:09:15 PM
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The ever open market is one of the edges the cryptocurrency market has over forex, and it should be adopted for all markets.
The limitations is one market is centralized and the other is Decentralized.

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December 19, 2018, 05:55:10 AM
 #6

Crypto is not the only asset that is traded 24/7. Forex trading actually also happens 24/7 however most retail traders can't trade on the weekends.

However there is trading done by banks over the weekends and it affects the forex rates a little. If there is some major economic event then when the retail traders open their trading desks on late Sunday there will be gaps in the markets.

As far as I know, most stock markets however definitely don't trade on weekends.

Either way, trading Bitcoin on weekends is never a good idea. Usually very little liquidity and mostly trades sideways. Plus traders need time off anyways.

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December 19, 2018, 03:02:39 PM
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DAM is a type of company that already started to pop up everywhere.

Its means Digital Asset Management and there are a lot of companies just like the stock brokers who you pay to get stocks for you, the only difference is you pay them to buy you digital stuff.

Crypto is a huge part of that but interestingly there are other digital stuff that worth money as well, you can literally buy apps whole for their future profits and give out shares for it. There are companies that make ton of money from that system as well.

Basically in the future the whole world is changing into online world and it would be silly to think our investments won't. We are already buying and selling stocks online more than we do personally so why not change the things we buy as well. When you make it digital like that there is no need for a 9-5 period, it can be 24/7 since its all online.
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December 19, 2018, 10:55:13 PM
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Then he said that he believes in the future, 24/7 trading, as we have in crypto markets but not in most stock markets, will become the norm.

    What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets. […] I think 24/7 trading of all different types of assets is something that’s going to be the future, and that will bleed into other markets we’re all familiar with, you know, FX, fixed income, and equities.

I think he's right. While most people write off the usefulness of tokenization now that the ICO craze is dead, this is a huge use case. Patrick Byrne (Overstock CEO) talked about this a while back, how equities will be tokenized and traded 24/7 on digital asset platforms (or on secondary markets). I agree and I don't see why that couldn't extend beyond equities to commodities, forex, etc.

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December 19, 2018, 11:54:28 PM
 #9

What really struck me about Bitcoin and the world of crypto assets was that for the first time, you basically have access for people who otherwise wouldn’t interact with financial markets.

Yes, a whole new class of victims for the financial market predators to feast on Wink

Ah well, at least they're participating in something that has the potential to change the world and their personal situation significantly. The best thing of Bitcoin is that as time goes by, most people who are serious about this stuff organically become almost anti state, which is a good thing. Bitcoin makes people interested in economics and from there understand how retarded the current system is.

The predators you're referring to can feast on people once, perhaps twice, but those who are genuinely interested in Bitcoin will become firm hodlers.

As for the noobie herd chasing hopes and dreams, they'll remain sucking on the wrong end of the money stick. They can't be helped by anyone. Let them buy your coins at peak levels, and have them sell these coins back to you at much lower levels. Great deal, right?  Cheesy

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