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Some people were waiting for the "free money" to come so they could buy "alt coins". Some will be happy to see BTC unchallenged. Price will be a balance of both
by brut 9y ago
Some people were waiting for the "free money" to come so they could buy "alt coins". Some will be happy to see BTC unchallenged. Price will be a balance of both.
- jdhn 9y agoI'll admit it, I was one of those people. On one hand, no "free money" for me, but on the other hand, I'm willing to accept this because it will hopefully lead to a stronger Bitcoin in the long run.
- nikcub 9y agoIf you bought in when the 2x futures began trading you've already made more from the BTC price rise than you would have from the air drop.
- panarky 9y agoFutures on the forked coin were trading north of $1000 earlier today. After the announcement, the price dropped to $1, and has since rebounded to $200. https://imgur.com/a/XOvWS https://imgur.com/a/XOvWS Maybe the $1000 BT2 price wasn't really a bet on free money, but on the prospect that BT2 might replace BTC. If the expectation was that post-fork BTC + BT2 ~= today's BTC, that means that today's BTC price was depressed by this possibility. Now that BT2 is cancelled, the value flows back to BTC.
- IncRnd 9y agoWhere is there a market for futures on cryptocoins?
- panarky 9y agoBitMEX, CBOE, Deribit, and others all offer bitcoin futures, with new exchanges appearing all the time. The Chicago Mercantile Exchange says they'll start trading Bitcoin futures by year-end.
- IncRnd 9y agoThank you. I wasn't aware of Chicago Merc. That holds a lot more interest to me than the others. I'll look up your reference to Chicago.