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-   -   Bit Coin futures (http://www.paceadvantage.com/forum/showthread.php?t=142581)

lamboguy 01-02-2018 03:53 AM

Bit Coin futures
 
when you go long coffee, cotton, cattle, gold, silver or any other commodity that has futures trading, you always have the option to take delivery of that item. with Bit Coin, there is no physical product. how does one take delivery on something that does not exist?

Ocala Mike 01-02-2018 08:43 AM

I guess the same way one takes delivery when they play S&P Futures. In other words, there is no delivery option - you are just making a bet.

davew 01-02-2018 08:44 AM


BaffertsWig 01-02-2018 09:10 AM

Futures killed the volatility of BTC. It's been stuck between mid 12s-high 13s for quite some time. Staying long, no more trading for me.

Fager Fan 01-02-2018 09:42 AM

Is there anywhere I can invest by betting this fake product bursts into the thin air that it is?

BaffertsWig 01-02-2018 11:14 AM

Quote:

Originally Posted by Fager Fan (Post 2256392)
Is there anywhere I can invest by betting this fake product bursts into the thin air that it is?

Cryptocurrencies are the monies of the future, they are here to stay. It doesn't surprise me old people don't understand and/or can't grasp the concept.

Fager Fan 01-02-2018 11:43 AM

Quote:

Originally Posted by BaffertsWig (Post 2256428)
Cryptocurrencies are the monies of the future, they are here to stay. It doesn't surprise me old people don't understand and/or can't grasp the concept.

First I'm now at nearly as old as you think and spent years writing computer code, so put I sock in it. Second, only fools are trading in imaginary currency. I assume you are one.

BaffertsWig 01-02-2018 11:55 AM

I'd say when Amazon plans on accepting several cryptocurrencies as payment for goods they should no longer be dismissed as "imaginary."

This "fool" has a ROI of nearly 900% for 2017 in cryptos, how'd your investments do?

Clocker 01-02-2018 11:57 AM

Bitcoin is like Tinker Bell. You gotta believe!:p

Zaf 01-02-2018 12:07 PM

It is very hard to cash out any significant amount now. Can you imagine when
the house of cards fall :confused:

Z

davew 01-02-2018 12:09 PM

Quote:

Originally Posted by BaffertsWig (Post 2256428)
Cryptocurrencies are the monies of the future, they are here to stay. It doesn't surprise me old people don't understand and/or can't grasp the concept.

So what if they are here to stay? What does that have to do with their value and if they are going to get more expensive or less?

BaffertsWig 01-02-2018 12:20 PM

Quote:

Originally Posted by davew (Post 2256449)
So what if they are here to stay? What does that have to do with their value and if they are going to get more expensive or less?

I was replying to Fager's comments.

Jeff P 01-02-2018 12:30 PM

Quote:

Originally Posted by Fager Fan (Post 2256435)
First I'm now at nearly as old as you think and spent years writing computer code, so put I sock in it. Second, only fools are trading in imaginary currency. I assume you are one.

Suppose someone had the foresight to purchase (say) $50.00 worth of Bitcoin back in Feb, 2011 or March, 2011...

Fyi, back then a single Bitcoin was selling for approximately one US Dollar.

Right now as I type this, that $50.00 investment would be worth more than $600k.

Would you still characterize that person as a fool?


-jp

.

PaceAdvantage 01-02-2018 12:33 PM

Quote:

Originally Posted by Ocala Mike (Post 2256378)
I guess the same way one takes delivery when they play S&P Futures. In other words, there is no delivery option - you are just making a bet.

Bingo

Fager Fan 01-02-2018 12:55 PM

Quote:

Originally Posted by Jeff P (Post 2256460)
Suppose someone had the foresight to purchase (say) $50.00 worth of Bitcoin back in Feb, 2011 or March, 2011...

Fyi, back then a single Bitcoin was selling for approximately one US Dollar.

Right now as I type this, that $50.00 investment would be worth more than $600k.

Would you still characterize that person as a fool?


-jp

.

Yes. Just because there happens to be other fools don't make you less of a fool.


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