Devil Man 

just your general thoughts about how they built it compared to say ES and 6E?

I took some time to give you an answer that I hope would be satisfactory without rambling on.
This is, of course, my opinion only based on my observation of cryptocurrency behavior in the last few years.

Typically, I do not interfere or recommend whether traders should trade long-term or short-term on any futures instrument. However, I feel rather strongly that Bitcoin Futures should be used only as a day trading tool specifically not held over the weekend. Let me explain further.

The Bitcoin cash market is a new market as an underlying asset and is susceptible to a lot of news whether substantiated or not. As such, during the times that the market is closed, you could be exposed to circumstances that would not be favorable to you. The cash markets operate 24/7. In particular, you should not be exposed over the weekend.

Second, the market is saturated with players who are either in a state of FOMO and/or ones that will try to short it hoping Bitcoin would collapse. Both players will bring volatility to the Futures market, and I suspect will feel very strongly about their positions and opinions. This may trigger margins calls, spikes, and other price action not favorable to traders who may develop long-term ideas and methods.

Consider also a fundamental view. We do not know today which cryptocurrency and blockchain will prevail in the long run. Further, who is to say that Bitcoin validity comes at 10K or $100? Who knows if Ether will prevail over Bitcoin as it is growing its ecosystem? The cryptocurrency space will evolve and grow and what we consider as a given today, may not be valid in a few years.

Approach this asset class as carefully as you would approach any contract: check liquidity, fluctuations, leverage, etc.

I hope this helps.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

mattz 

I took some time to give you an answer that I hope would be satisfactory without rambling on. This is, of course, my opinion only based on my observation of cryptocurrency behavior in the last few years. Typically, I do not interfere or recommend whether traders should trade long-term or short-term on any futures instrument. However, I feel rather strongly that Bitcoin Futures should be used only as a day trading tool specifically not held over the weekend. Let me explain further. The Bitcoin cash market is a new market as an underlying asset and is susceptible to a lot of news whether substantiated or not. As such, during the times that the market is closed, you could be exposed to circumstances that would not be favorable to you. The cash markets operate 24/7. In particular, you should not be exposed over the weekend. Second, the market is saturated with players who are either in a state of FOMO and/or ones that will try to short it hoping Bitcoin would collapse. Both players will bring volatility to the Futures market, and I suspect will feel very strongly about their positions and opinions. This may trigger margins calls, spikes, and other price action not favorable to traders who may develop long-term ideas and methods. Consider also a fundamental view. We do not know today which cryptocurrency and blockchain will prevail in the long run. Further, who is to say that Bitcoin validity comes at 10K or $100? Who knows if Ether will prevail over Bitcoin as it is growing its ecosystem? The cryptocurrency space will evolve and grow and what we consider as a given today, may not be valid in a few years. Approach this asset class as carefully as you would approach any contract: check liquidity, fluctuations, leverage, etc. I hope this helps. Matt Z Optimus Futures There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

oh fantastic @mattz! this is just what I was looking for, thoughts from a seasoned industry professional such as yourself. I really appreciate you getting back to us on this!

спасиба

Happy Thanksgiving!

Johnny

Hi @mattz Hope you are doing well, I am asking you for your input because you are a broker that says it like it is, and I appreciate that. Alright onward and forward to the point- What's the scoop on the BTC futures? Is your brokerage going to offer it? What's the scuttle but in the community that I am sure you are privy to?
Share with us if you will? Thanks in advance for any input/info.

learning0101 

Hi @mattz Hope you are doing well, I am asking you for your input because you are a broker that says it like it is, and I appreciate that. Alright onward and forward to the point- What's the scoop on the BTC futures? Is your brokerage going to offer it? What's the scuttle but in the community that I am sure you are privy to? Share with us if you will? Thanks in advance for any input/info.

Thanks! I appreciate the kind words. So here is the chatter: We should have something from the CME in the second week of Dec. Yes, we are going to offer it the minute it will come out. If you PM me your email, I will make sure that you get the information from us when it is launched.

This is ONLY my personal opinion: I think the delay has been as a result of Margin. In other words, the exchange needs to think long and hard what sort of margin should be implemented. On one hand, they cant be too high to discourage players, and at the same time, it can not be too small due to the wide fluctuations this underlying asset has.

I hope this helps!

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

https://www.cnbc.com/2017/12/01/cme-says-its-launching-bitcoin-futures-on-dec-18.html

Devil Man 

https://www.cnbc.com/2017/12/01/cme-says-its-launching-bitcoin-futures-on-dec-18.html

CME sent an email as well while confirming this date, DEC 18th.

Thank you,
Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Bitcoin has no intrinsic value I think that know a virtual currency is a financial bubble. Its price could fall to zero if the confidence in the system was to disappear know that a numerical value only that is feeds the dark web to bought illicit and illegal product that does generate so much money and profit a value adds , I think bitcoin and a scam I think at the beginning that was a revolution and that it's going to help a lot of people get out of misery and poverty, maintains I'm persuading that Bitcoin has no social role,

CBOE confirmed it will start trading futures on 10 Dec. What retail brokers are working with them? I'm with AMP now and they still got no idea about CME or CBOE btc futures. Crazy...

k7ler 

Bitcoin has no intrinsic value I think that know a virtual currency is a financial bubble. Its price could fall to zero if the confidence in the system was to disappear know that a numerical value only that is feeds the dark web to bought illicit and illegal product that does generate so much money and profit a value adds , I think bitcoin and a scam I think at the beginning that was a revolution and that it's going to help a lot of people get out of misery and poverty, maintains I'm persuading that Bitcoin has no social role,

Same B.S. I've heard from day 1 of Bitcoin and crypto's in general.

I've made a ton of $$ from $BTC and keeping my faith in not only the asset, but the tech as well.

To each their own and all that.

https://nypost.com/2017/12/04/winklevoss-twins-become-worlds-first-bitcoin-billionaires/

The CBOE contract seems more suitable for retail traders. It will be based on 1 BTC contract:

Contract Specifications

Looks like they are basing on Gemini only. This is interesting. I have seen other products that use multiple indexes are more difficult to tape read because you have situations where Asians are very bearish and US traders bullish or vice versa.. This might make it trade and behave better. But, also, possibly not as reflective of the world BTC price.