RE: Bitcoin Futures are a total joke. They may as well call them "Bitcoin Bananas"..!! by rawdawg

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investors-group · @rawdawg · Dec 6 '17

$0.42

You obviously don’t understand how futures operate. Not being malicious but your lack of knowledge in the area is obvious. Futures are a derivative of the underlying BTC price. So in the case of BTC futures the actual BTC market will always lead the futures market. In example their are Eurocurrency futures. What happens in Eurocurrency cash markets is what drives Euro futures. The same will happen in BTC. Don’t reply that I don’t know what I’m talking about as I have worked in the derivatives industry for 20 years.

👍 mstfdmn, dudutaulois

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@goldgoatsnguns · Dec 6 '17

$0.45

Wrong.  The futures market always becomes the market if the futures market is designed such that it actually coordinates the delivery of the underlying asset at a future date.  These Bitcoin futures contracts do no such things.. being 'cash-settled'.  They may as well be CFD's...

If they were settled in the underlying asset, then I would agree with you (somewhat) but, being cash-settled they are nothing more than spec bets.

Look at what happened to gold the minute they started settling futures in cash... which has been going on 'unofficially' since the 2008 financial crisis.  And as for my original statement about future leading the market, I'm going with Martin Armstrong saying just that.

👍 stephenkendal, goldgoatsnguns, rmaxhuni

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@rawdawg · Dec 6 '17

No, I'm not wrong genius.

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@rawdawg · Dec 6 '17

Financial futures (FX or Equity Index) are driven by the cash market or underlying index. Hence why every large banking institution FX desk or Equity desk that also deals in futures has intra-bank real time cash prices in front of them when trading FX. If the forward on a currency futures product or equity index product is "x" then when the cash or index moves the futures follow. Futures DO NOT lead and you don't know what you are talking about. I have spent 20 years on the dealing desks of the largest financial institutions in the world. 
By the way, Martin Armstrong was a fraud.

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@goldgoatsnguns · Dec 7 '17

"By the way, Martin Armstrong was a fraud."

And now we know who the fraud is.

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@stephenkendal · Dec 6 '17

$0.13

>These Bitcoin futures contracts do no such things.. being 'cash-settled'. They may as well be CFD's...

Nailed it..!! As far as I'm concerned I'm sticking to them being called "Bitcoin Bananas" and leaving it to the muppets trading these worthless pieces of paper to it. The Bitcoin Blockchain is way smarter than those who will be trading these garbage Derivatives. These guys will soon learn the hard way. "Bitcoin Bananas" will fail from day one. This I can guarantee. Stephen

👍 etcmike, rmaxhuni

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@rawdawg · Dec 6 '17 (edited)

He didn't nail anything *banana man* . .He proved that he thinks what were discussing is debatable which it isn't.

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@stephenkendal · Dec 6 '17

$0.12

Good luck with your theory. Stephen

👍 etcmike

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@rawdawg · Dec 6 '17

$0.13

LOL, it’s not a *theory* and lacking knowledge in a subject is not an excuse for misguiding people. BTC futures are a derivative of the BTC index which is based on the BTC price on multiple different exchanges(ave. price of BTC). The main differentiation between buying BTC and BTC futures is leverage and that is the attractive feature of the product. I respect what you do, as using a funny knock(bananas) on the product is a good sales pitch but when someone calls you on it this is what happens. Most of your readers don’t have enough trading/financial experience to do so.

👍 dudutaulois

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