I have a friend who is crazy about an idea which I believe is wrong. He thinks that the first bitcoin derivatives showed up in 2017, this is why he are having a bear market since.
This is false, but I couldn't find anything to support this idea and show him.
Does anyone have a link or something showing which was the first cryptocurrency exchange with derivatives?
Edit: I made a small research and found something:
https://medium.com/interdax/an-overview-of-the-evolution-of-bitcoin-derivatives-c10080c00d29As early as 2011, entrepreneurs were interested in building marketplaces (which were very basic websites run by a handful of individuals) to trade bitcoin derivatives such as ICBIT. Traders could engage in arbitrage to buy the digital currency at spot and sell futures contracts if a premium existed (receiving their profits in BTC). Futures also enabled traders to hedge price volatility and lock-in a price for their BTC.