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I don't trade /GC, so you gold traders can correct me, by my understanding is that these paper gold futures lead the spot price. Same for silver. There is vastly more paper gold and silver than there is physical. This is supposedly how they keep driving down the price of gold and silver.
Since the CME BTC futures will be a cash settled future, you could call it "paper Bitcoin", just like paper gold and paper silver. The nominal amount of BITCOIN futures will be vastly greater than the physical.
Once the CME futures open, Jamie Dimon rules Bitcoin.
I don't see myself trading the futures, but soon after this there will be options on futures and there should be a lot of juice in those. So I am interested.
Also, based on the futures they can create legit ETFs just like the vol products -- leveraged, inverse, long duration, etc. And then there will be options on the ETFs, and I will want to trade these.
It's all good.
Kinda reminds me of Deadwood when George Hearst showed up, though.
with the recent events concerning BTC hard fork cancellation and BCH making insane gains, how does this play into the bitcoin futures?
BTC BCH are separate blockchain so it seems impossible to average a contract for both especially if BCH dominates BTC in mining power
fwiw I wouldnt bother with specific crypto contracts because the space is still too new, theres not even earnings for crying out loud
at the very most have an industry contract like miniSP and see how it plays out for 12mths before adding specific contracts for whatever survivors exist in the space