News : Derivatives for Ethereum
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#1
z Ethereum 
Quote:The second-biggest cryptocurrency is poised to get a derivatives market, thanks in part to a pioneer of trading credit-default swaps, according to two people familiar with the matter.

Contracts on the ether digital currency will be offered by an as-yet-unnamed exchange going by the code name “Virtuoso,” according to one of the people, who asked not to be named discussing private information. One of its co-founders is Sunil Hirani, who sold the CDS brokerage he co-founded, Creditex Group, to Intercontinental Exchange Inc. in 2008 for about half a billion dollars, the person said.

https://www.bloomberg.com/news/articles/...edit-swaps

I'm a little split on this news , on one hand it is great validation for the success of block chain technology and especially Ethereum - right behind Bitcoin.

On the other hand , do we really need more manipulation? I've been a swing trader in the stock market for years and have tried my best to learn what the MMs are up to even more importantly than technicals or fundamentals of a stock. The manipulation there is intense and goes against logic more often than not .

We already have that problem in crypto - but the direction we are going by applying traditional finance and market practices seems somewhat counterintuitive to me .

Taming the new wild west..
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#2
No doubt this will lead to more price manipulation in the markets .. but as long as there is money to be made there we always be some form of it .

Good news is there is still lots of money to be made , and this going mainstream news coming everyday is great for us early investors .

We will see what comes of all this old money and traditional strategies make it Bitcoin/ Eth .. and more good news is there are alternatives they will also continue to thrive like Dash, Monero, PIVX, etc .
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#3
Why are you guys bickering about manipulation?

This, along with the Bitcoin CME news, is great for the space!

The flood gates for institutional investors is opening, they may have the money and power to manipulate price - but that also requires a lot of buying, and of course - they are in it to MAKE MONEY, ie gains.

Prices are still low across the board, buy all you can afford!
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#4
So, derivatives - when buying or selling these, doesn't actually effect the price of the asset directly. It's more like a speculative "bet". Think sports betting.

The indirect result, however - is whales COULD in theory manipulate the market by buying/selling eth or btc in order to validate their bet. This is where the manipulation may happen, but let's be honest here - manipulation is already happening.

Check out this thread for some really great news for prices:
https://blawks.com/forum/Blockchain-Coin...TC-ETH-LTC

The same argument about manipulation is being made with this news, which is even BIGGER imo, but it's important to know that MORE MONEY means more liquidity and depth, which overall makes a market harder to manipulate.

Frankly, I think we have other things to worry about than manipulation right now, as there is nothing we can do about it.

Let's worry about LOADING UP OUR ROCKET SHIPS!!
hodling till Im odling
Ethereum, IOTA, Lisk, OmiseGo, Blackmoon Crypto
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#5
(11-17-2017, 08:40 PM)Rox Wrote: Let's worry about LOADING UP OUR ROCKET SHIPS!!

Been loading!!! It looks like eth is forming a cup and handle on the daily chart, btw.. Could be priming for a shoot up over $500, especially with the stacking news releases.
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#6
I wonder what this "unannounced" exchange will be. Coinbase ? they seem to be the leader in the space .
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