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Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC

 
Anonymous Coward
User ID: 75180542
United States
07/07/2017 06:23 AM
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Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Tell me if I am wrong about this GLP.

Based on this article, the criminal CFTC will allow trading digital currency derivatives.

More
[link to www.coindesk.com]

You knew it would be a matter of time for the CFTC to step up and rig the crytocurrency market. All in the name of price stability. You can't have cryptocurrency outshine the US dollar you foolish slaves.

So now we will see big whales do what they want in the cryptocurrency market, moving the price around as they see fit. They have the means to do so, to place huge bets on derivative-cryptos, that is, beyond the amount of cryptos that are actually is mined.

Will there most likely be a Federal Reserve Desk on the proverbial trading floor with the big levers to move prices lower at options expiration time? The same rigging strategy as the gold and silver markets?

Some details from the article.
"As a result of that capital, Chou believes LedgerX is on the cusp of creating a cryptocurrency options market that could increase the number of institutional investors able to invest in the asset class and help stabilize the price of the currency by enabling a more reliable hedges."
Anonymous Coward
User ID: 50505570
United States
07/07/2017 06:51 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Yes, they can crash it more easily now. First they come for your crypto, then they come for your dollar.
Anonymous Coward
User ID: 75194407
United States
07/07/2017 09:57 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Yes, they can crash it more easily now. First they come for your crypto, then they come for your dollar.
 Quoting: Anonymous Coward 50505570


bump
Anonymous Coward
User ID: 71292324
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07/07/2017 10:09 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Theres so many of these out there whats the big deal about this one?
Anonymous Coward
User ID: 75179349
United Kingdom
07/07/2017 10:47 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Cryptos are already manipulated to death. Don't sweat it.
Anonymous Coward
User ID: 75192544
United States
07/07/2017 11:14 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
cryptocurrencies are taking investors out of gold and silver
Anonymous Coward
User ID: 69907961
United States
07/07/2017 11:15 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Good, then I can finally short the worthless scam that they are.
Your Crazy Mom

User ID: 39845140
United States
07/07/2017 11:30 AM

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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
cryptocurrencies are taking investors out of gold and silver
 Quoting: Anonymous Coward 75192544


Yes, and but a derivatives market will only syphon away derivatives holders, a/k/a wish holders.

Those who understand value will hold physical or actual bits of coin in next-to-liquid condition.

jmho
Trashy

User ID: 71740445
United States
07/07/2017 11:38 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Who voted for this?
Zero. Nobody.

epiclol
Fucking banana republic.
wowie53

Last Edited by UnipartySchmuck on 07/07/2017 11:38 AM
There's a 95% chance you are a candy ass uniparty tory.
Anonymous Coward
User ID: 74945517
United States
07/07/2017 11:50 AM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Stop fighting it and get in on the scam.
Anonymous Coward
User ID: 74768228
Canada
07/07/2017 01:14 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Tell me if I am wrong about this GLP.

Based on this article, the criminal CFTC will allow trading digital currency derivatives.

More
[link to www.coindesk.com]

You knew it would be a matter of time for the CFTC to step up and rig the crytocurrency market. All in the name of price stability. You can't have cryptocurrency outshine the US dollar you foolish slaves.

So now we will see big whales do what they want in the cryptocurrency market, moving the price around as they see fit. They have the means to do so, to place huge bets on derivative-cryptos, that is, beyond the amount of cryptos that are actually is mined.

Will there most likely be a Federal Reserve Desk on the proverbial trading floor with the big levers to move prices lower at options expiration time? The same rigging strategy as the gold and silver markets?

Some details from the article.
"As a result of that capital, Chou believes LedgerX is on the cusp of creating a cryptocurrency options market that could increase the number of institutional investors able to invest in the asset class and help stabilize the price of the currency by enabling a more reliable hedges."
 Quoting: Anonymous Coward 75180542


This is going to be funny, they forget that the decimal point slides 9 points to the right.
Anonymous Coward
User ID: 75192914
Estonia
07/07/2017 01:56 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
How can they rig the markets, if the cryptos are decentralized?

Am I missing something here, I don't get the point...
coinbase and bittrex are OK.
Digital mix guy

User ID: 23225561
United States
07/07/2017 03:40 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
bump
Anonymous Coward
User ID: 71184149
United States
07/07/2017 04:32 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
now crypto and gold are handled alike
Anonymous Coward
User ID: 57327432
United States
07/07/2017 04:37 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
cryptocurrencies are taking investors out of gold and silver
 Quoting: Anonymous Coward 75192544


Really?? Because I love Cryptos and Gold / Silver.

Infact alot of us Crypto folks are in metals too.
Anonymous Coward
User ID: 74853856
United States
07/07/2017 04:57 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
Good, then I can finally short the worthless scam that they are.
 Quoting: Anonymous Coward 69907961


^ careful, they go up as fast as they go down.
Anonymous Coward
User ID: 75194407
United States
07/07/2017 10:07 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
How can they rig the markets, if the cryptos are decentralized?

Am I missing something here, I don't get the point...
coinbase and bittrex are OK.
 Quoting: Anonymous Coward 75192914


The CFTC has the habit of looking the other way when there is corruption. Such as naked short selling in the futures market.

Naked short selling, should it occur, is where the price is gamed.
A miscreant broker/dealer can naked short the cryptos with greater leverage. Just look at the way gold and silver are traded in the futures market. Totally rigged, with no true price discovery. Huge market distortion of price. The equivalent of an entire years supply of gold can be sold in a matter of minutes. But it's not gold that was really sold, just the paper derivative of it. These naked short transactions are done by crooked broker/dealers, who may be working for a larger entity, including sovereign level entities, and they never settle or close out the position, leading to a condition called, fail to delver. Essentially, it is counter fitting. Very toxic the the market.

If the options future market were honestly regulated, it would be an ok thing to have. But it's not honestly regulated.

Look at the cryptos space, it would not take much to influence the price direction. Do you think options trading will magnify the price swings or lead to price stability? The answer is, only if there is honest regulation will there be price stability.

Like gold and silver, I think there is the chance you can add cryptocurrency to the list of manipulated markets should cryptos be allowed to have option futures trading.

Disclosure: I have a computer and an internet connection, and of course, an opinion.
Anonymous Coward
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United States
07/07/2017 10:10 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
If they move their money to crypto let them.

If they don't want the petro dollar then let them go.
Anonymous Coward
User ID: 71690411
United States
07/07/2017 10:24 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
cryptocurrencies are taking investors out of gold and silver
 Quoting: Anonymous Coward 75192544


Really?? Because I love Cryptos and Gold / Silver.

Infact alot of us Crypto folks are in metals too.
 Quoting: Anonymous Coward 57327432


Well I do have two Bigfoot bucks in the freezer for a rainy day fund.
I tried the Yeti Yellow Yawns coinage...
They are yellow frozen disks...Yes, they can and do melt.
So don't go and store them in the safe like I did.
It does smell worse...
Anonymous Coward
User ID: 74849044
United States
07/07/2017 10:30 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
You really need to understand what is happening on these crypto exchanges. Every time you buy and sell on an exchange you are really buying and selling a derivative. The transaction does not occur on the blockchain. Only when you first deposit into the exchange and remove from the exchange.

So there is already manipulation on the exchanges. Cryptocurrencies that have no limit of the number of coins or tokens are especially susceptible to manipulation.

Caveat Emptor.

IMHO, one should really focus their crypto holdings on coins that have limits on total supply, like, BTC, LTC, and practical limits like XMR.
Anonymous Coward
User ID: 71690411
United States
07/07/2017 10:34 PM
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Re: Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC
I could only carry one buck at a time.
So in theory they should retain their worth.
Dangerous when not in hunting season.
Why i had to explain to the officer about crypto currency.
He didn't believe me...he said it was all fake.

I then pointed to my heavy buck...He gave me a small piece of paper and relieved me of my monies.
Get this! The paper says I need to report to court for poaching...

WTF





GLP