Cryptocurrency Option Derivatives -- market rigging of cryptocurrencies. Thanks CFTC | |
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Trashy User ID: 71740445 United States 07/07/2017 11:38 AM Report Abusive Post Report Copyright Violation | Who voted for this? Zero. Nobody. Fucking banana republic. Last Edited by UnipartySchmuck on 07/07/2017 11:38 AM There's a 95% chance you are a candy ass uniparty tory. |
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Anonymous Coward User ID: 74768228 Canada 07/07/2017 01:14 PM Report Abusive Post Report Copyright Violation | Tell me if I am wrong about this GLP. Quoting: Anonymous Coward 75180542 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." This is going to be funny, they forget that the decimal point slides 9 points to the right. |
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Anonymous Coward User ID: 75194407 United States 07/07/2017 10:07 PM Report Abusive Post Report Copyright Violation | How can they rig the markets, if the cryptos are decentralized? Quoting: Anonymous Coward 75192914 Am I missing something here, I don't get the point... coinbase and bittrex are OK. 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. |
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Anonymous Coward User ID: 71690411 United States 07/07/2017 10:24 PM Report Abusive Post Report Copyright Violation | Really?? Because I love Cryptos and Gold / Silver. Infact alot of us Crypto folks are in metals too. 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 Report Abusive Post Report Copyright Violation | 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 Report Abusive Post Report Copyright Violation | 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 |