Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on [email protected] for help. Thanks :)
Hello All, This is just a friendly reminder to read the Forum Charter where you wish to post before posting in it. :)
Hi all, The AutoSave Draft feature is now disabled across the site. The decision to disable the feature was made via a poll last year. The delay in putting it in place was due to a bug/update issue. This should serve as a reminder to manually save your drafts if you wish to keep them. Thanks, The Boards Team.

Bitcoin Futures

2»

Comments

  • Registered Users Posts: 2,335 ✭✭✭ The One Doctor


    ROFL, the first liquidation on CBOE.
    Someone had a Short for the value of $2.3Million liquidated. He lost 200K. :pac::pac::pac:

    https://twitter.com/BitmexRekt/status/939993657121431554

    Arrgh. Makes my FOMO blunder seem a bit tame.


  • Registered Users Posts: 1,704 ✭✭✭ highgiant1985


    ROFL, the first liquidation on CBOE.
    Someone had a Short for the value of $2.3Million liquidated. He lost 200K. :pac::pac::pac:

    https://twitter.com/BitmexRekt/status/939993657121431554

    someone bet 2.3 million that Bitcoin would go down and it went up. ouch!


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    someone bet 2.3 million that Bitcoin would go down and it went up. ouch!
    Yep, precisely. :D


  • Registered Users Posts: 1,704 ✭✭✭ highgiant1985


    Yep, precisely. :D

    thanks. I'm newbie to bitcoins it's fun to follow even if you don't have much in it. plenty of Highs and Lows! :)


  • Banned (with Prison Access) Posts: 1,648 ✭✭✭ Autochange


    I looked at that twitter link.

    I dont understand it at all! for example: liquidated short on XBTUSD: Buy 106,207 @ 15328 ����⚡ ~ Triple kill ~ tis only a flesh wound

    To me this looks like someone spent 106,207 dollars worth @ 15328 per coin. Is that correct or am i looking like a dope? Triple kill? wtf is going on!


  • Advertisement
  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    Your example is just one of the many liquidations that have ( by now) happened.
    The example I posted was the first liquidation on CBOE. He bet $2M that the price would go down. But it went up and he lost the difference between the price he Shorted to and the current price. He lost $200,000.
    He could be considered unlucky because the price at which he got liquidated was exceeded for only a short period of time and then went down.

    Still, its nice to see these Wall St spivs getting hurt. A lot of them are already being burned by their Shorts it would seem.


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    Still, for every Short to be confirmed there has to be somebody else on the other side of the bet.
    So the person who took on that particular futures contract mentioned WON $200,000 ( went Long). Kudo's to him; he made the price of a Lambo for two minutes work and having balls of steel. :)


  • Registered Users Posts: 3,334 ✭✭✭ Wombatman


    What is the duration of those contracts? Like an hour?

    Total degenerate gambling.


  • Closed Accounts Posts: 1,480 ✭✭✭ thierry14


    Up to 16.5k now

    Amazing times we live in


  • Registered Users Posts: 3,334 ✭✭✭ Wombatman


    Futures smutures.


  • Advertisement
  • Registered Users Posts: 5,208 ✭✭✭ Elessar


    Damnit I was going to buy some more yesterday but held off thinking the price would drop with the futures starting :(

    Bah humbug, think I'll just buy anyway (and watch it tumble in price right after I do :pac: )


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    thierry14 wrote: »
    Up to 16.5k now

    Amazing times we live in
    Indeed we are in amazing times.
    Bitcoin's resilience and strength in the face of the introduction of Futures last night has surprised a lot of people. It swatted away the Shorting by naysayers and doubters who were betting large sums against it.
    The next big one is the CME futures on the 18th. If Bitcoin remains as buoyant against that as it did last night against the CBOE, then, really there is no limit as to how high it could go. The previously outlandish forecasts that we laughed at don't look that outlandish now.


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    Elessar wrote: »
    Damnit I was going to buy some more yesterday but held off thinking the price would drop with the futures starting :(
    I sold 80% of my bitcoin yesterday thinking the same. :o


  • Closed Accounts Posts: 657 ✭✭✭ Shauny2010


    I'm hodling till the ETFs get going. All those pension funds that will be looking to add 0.1% of the pot to crytpto amounts to an absolute Ocean of money


  • Registered Users Posts: 3,334 ✭✭✭ Wombatman


    Shauny2010 wrote: »
    I'm hodling till the ETFs get going. All those pension funds that will be looking to add 0.1% of the pot to crytpto amounts to an absolute Ocean of money

    Any launch date for big US Bitcoin ETFs?


  • Registered Users Posts: 197 ✭✭ needhelpguy


    Wombatman wrote: »
    Any launch date for big US Bitcoin ETFs?

    None have been approved yet but a lot of people are expecting approval in 2018.


  • Registered Users Posts: 3,334 ✭✭✭ Wombatman


    None have been approved yet but a lot of people are expecting approval in 2018.

    What about this one?
    https://grayscale.co/bitcoin-investment-trust/


  • Moderators, Society & Culture Moderators, Sports Moderators Posts: 12,465 Mod ✭✭✭✭ Amirani


    Wombatman wrote: »
    What is the duration of those contracts? Like an hour?

    Total degenerate gambling.

    No, they're mainly 3 month futures contracts going on BTC I think.

    Liquidations happen when the margin pool isn't able to meet the cost of a margin call against the marked-to-market position of the contract.


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    Futures contracts are distinctly organised into monthly, tri-monthly, six-monthly, or annual commitments.
    The Futures contract mentioned earlier was an F8 contract. A Futures contract is designated as "XBT XY" where "X" is the month of settlement and "Y" is the year of settlement. Thus, this particular $2.3Million contract was due for settlement in 2018-January, but the guy who Shorted at 11:00pm last night was busted two minutes into the contract at 11:02.
    (XBT is the ISO symbol ticker for BTC as the "B" label is already previously designated to something else. GXBT is the settlement price -- the prevailing spot price on the day of settlement on the Gemini exchange).


  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    Monthly Contract Codes

    codes_zpssqlezmzs.png


  • Advertisement
  • Registered Users Posts: 1,223 ✭✭✭ pro_gnostic_8


    The current Bitcoin Futures contract book on CBOE:

    futures_zpsji4wzyu0.png


Advertisement