Bakkt - page 4. | Bitcointalksearch.org

fillippone

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Something overheard during last days:

Georgia Governor Appoints Bakkt CEO Loeffler as New US Senator

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The Atlanta Journal-Constitution first reported that Kemp was considering Loeffler on Friday, with the Wall Street Journal, Washington Post, AP and other outlets confirming its reporting earlier this week. Loeffler will take office on Jan. 1, 2020. Though Isakson's term ends in January 2023, Loeffler will have to run for election next year if she intends to serve past January 2021.

While Loeffler said she was "pro-[U.S. President Donald] Trump," and in favor of his border wall, the Second Amendment and against abortion and socialism, she did not address crypto or bitcoin in her introductory remarks.

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Loeffler has been the chief executive to Bakkt, the Intercontinental Exchange’s bitcoin-focused subsidiary, since the entity’s announcement in August 2018. Under her tenure, the company rolled out its physically-settled bitcoin futures contracts earlier this year.

Bakkt has more recently announced its intention to develop a consumer-facing mobile application for bitcoin payments, expanded custody services, as well as options and cash-settled futures contracts to be rolled out in the coming weeks.

It remains unclear who will take the helm at Bakkt after Loeffler takes up her new position on Jan. 1, 2020. However, current COO and former Coinbase executive Adam White would be a natural successor to the role. A spokesperson did not return a request for comment by press time.

Long term bullish bitcoin.
Having someone working to break the system from the inside is way more effective.

LUCKMCFLY

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It's great historical maximum Bakkt of $ 6.5 million!

According to Bakkt chief operating officer Adam White:

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announced the firm’s move to include a cash-settled option in an apparent bid to further increase the platform’s popularity among investors. The Intercontinental Exchange — Bakkt’s parent company — later confirmed the launch of the option for Dec. 9.

Source: https://cointelegraph.com/news/bakkt-bitcoin-futures-open-interest-hits-new-all-time-high-of-654m

Bakkt is on a very good road!

fillippone

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Daily Bakkt news:

Bakkt Bitcoin Futures Open Interest Hits New All-Time High of $6.54M

Quote

According to a Dec. 3 Twitter post published on Dec. 3 by Bakkt Volume Bot — a Twitter account dedicated to reporting Bakkt trading volumes — Monday’s open interest on Bakkt Bitcoin futures reached a new all-time high of $6.5 million.

In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open interest, new or additional capital is flowing in.

This is the tweet mentioned in the article:

Quote

ICYMI: Monday's Bakkt Bitcoin Monthly Futures:

Traded contracts: 2328 ($17.02 million, -26%)
All time high: 5671 (11/27/2019)
Open interest: $6.54 million (+42%)

I run on caffeine: https://btl.to/@BakktBot

https://twitter.com/BakktBot/status/1201867438683557890

If you need an explaination about the Open Interest concept you can find it in my guide:
Everything you wanted to know about BTC futures but were afraid to ask!

LUCKMCFLY

legendary

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The General Director of the Bakkt bitcoin Futures Exchange will be offered a seat in the Georgia Senate next week under the support of Governor Brian Kemp, Kelly Loeffler.

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The BTC market is removed from politics, focusing mostly on price discovery and a battle of bulls and bears. Futures markets offer a direct gateway for new entrants to speculate on the price moves of bitcoin – while avoiding actual ownership.

Even with the Bakkt futures, traders may choose to roll over the contract instead of taking delivery.

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CYMI: Friday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 3167 ($24.61 million, +12%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.61 million (+7%)

I run on caffeine: https://btl.to/@BakktBot

@BakktBot

Quote

Weekend volumes remained relatively high above $18 billion in the last 24 hours.

Source:https://bitcoinist.com/bakkt-boss-is-the-choice-for-vacant-georgia-senate-seat/

LUCKMCFLY

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Updated Bakkt..

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ICYMI: Thursday's Bakkt Bitcoin Monthly Futures:

📉 Traded contracts: 2832 ($21.17 million, -50%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.31 million (+4%)

I run on caffeine: https://btl.to/@BakktBot

Quote

∙ Today's volume so far: 2150 BTC ($16.73 million)
∙ Last traded price: $7,783
∙ Trading day progress: 34%
∙ Current daily Bakktarget™: 4339 BTC ($33.77 million)

Source: @BakktBot

gentlemand

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Welt Am Draht

Just goes to show the gnat-like attention span of the average personage.

A couple of days of quietness after launch and they declared it needed a fork stuck in it. Look at it now.

This is why They will win.

ivomm

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All good things to those who wait

When bakkt started everyone was very dissapointed. With a volume of several bitcoins per day, it was not exactly the moon event. This resulted in massive sell off of the weak hands that hoped for quich money. But then slowly things began to change. With a record over 5K BTC per day and above 2K each day, it definitely is a game changer. Give it a year or two. Paired with the halving, this will have some serious impact on the price for sure.

LUCKMCFLY

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Bitcoin Futures markets reduce volatility ...

Quote

“Two months after their debut, Bakkt Bitcoin Futures reached a record high of 4,443 contracts traded today – up over 60% from our last record-setting day We look forward to building on this momentum as we approach the launch of the Bakkt Bitcoin Options contracts on Dec 9th”

According to Andreas Antonopoulos:

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“[…] what’s it’s also done is its reduced volatility, which is really interesting because all the people complaining about the volatility, now you see reduced volatility, switch to complaining about price interference. Bakkt is slightly different because Bakkt does not do cash settlement.”

It is interesting what Bakkt can achieve ..

Source: https://eng.ambcrypto.com/bitcoin-futures-markets-reduces-volatility-of-the-cryptocurrency/

Hueristic

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Doomed to see the future and unable to prevent it

Quote from: El duderino_ on November 28, 2019, 07:57:44 AM

To many people are in BTC only for the dollar just as gentlemand telling .... and for those people BAKKT is an enormous HOPIUM injection to get rich fast whiteout knowing d*ck, also just as gentlemand says most like very much most people on the forum are in BTC for dollars but not gonna speak out loud of-course, at the other side I do understand that a lot of people see the opportunity to make a quick buck only they will be exposed to something they don’t know and they will only read the good stories like BAKKT = MOON overnight though they must read some post like how gentlemand and more explains things like BAKKT etc
Sometimes I think when somebody owns not to much IRL it’s difficult to get into BTC and have faith and etc though that’s a flawed statement, people just need to take the time and effort to try and learn about it.... Like all things in live, understanding requires effort of learning reading rinse and repeat

This is the reason I am in Monero, i believe in the cypherpunk dream of freedom.

https://www.activism.net/cypherpunk/manifesto.html

I guess Bakkt is a net good for crypto in general as it broadens the base for recognition.

fillippone

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Quote from: gentlemand on November 28, 2019, 04:41:46 PM

So what is the consensus on their launch of options? For some the idea of shorting with limited downside is going to attract a lot more unpleasantness. The one time I tried options in the stock market I forgot about it and came back to find a huge profit so I think it's lovely.

I am not conspiracy theorist about financial instruments in the markets.
I think every instrument adding liquidity to the market and facilitating the price discovery of bitcoin is more than welcome.
I have started writing a thread to be published on options and how to use them, as they are a greatly misunderstood instruments and there are a lot of misconceptions about them.

So I don’t know what is the consensus is about options:
If I were a whale I would be an happy seller to deep out of the money calls, to gain from cashed in premium while having a way to cash in price spikes.
If I were a bank I would be a buyer of calls to leverage my investment in crypto and gain exposure on the (inevitable ) bull run.
If I were a nocoiner I would buy slightly in the money calls to have complete upside exposure while saving some dollars.
If I were stupid I would but puts.

So there are many use case, I have an idea of what it will be the most used strategy, but it will really depends on the kind of users will engage with options on Bakkt (again, on Bakkt, they will be professional, not single users)

gentlemand

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So what is the consensus on their launch of options? For some the idea of shorting with limited downside is going to attract a lot more unpleasantness. The one time I tried options in the stock market I forgot about it and came back to find a huge profit so I think it's lovely.

LUCKMCFLY

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Futures Activity..

Quote

#Bakkt #Bitcoin Futures Activity Report

Record amount of Bakkt contracts traded yesterday. After the launch a couple of months ago it looks like the trading activity is really catching up.

Keep an eye on it with the daily updated Bakkt #BTC activity report 👇

Source: https://twitter.com/ecoinometrics/status/1200060696219639808

El duderino_

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BTC + Crossfit, living life.

Sorry ^ hadn’t read through the thread for the most Roll Eyes

fillippone

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Quote from: El duderino_ on November 28, 2019, 08:01:34 AM

∙ Today's volume so far: 4269 BTC ($32.26 million)
∙ Last traded price: $7,558
∙ Trading day progress: 50%
∙ Current daily Bakktarget™: 5569 BTC ($42.08 million)

https://twitter.com/bakktbot/status/1199768490183405569?s=21

Tongue

Yeah, that tweet refers to the same day (yesterday) when they later actually set the record.

El duderino_

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BTC + Crossfit, living life.

∙ Today's volume so far: 4269 BTC ($32.26 million)
∙ Last traded price: $7,558
∙ Trading day progress: 50%
∙ Current daily Bakktarget™: 5569 BTC ($42.08 million)

https://twitter.com/bakktbot/status/1199768490183405569?s=21

Tongue

El duderino_

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BTC + Crossfit, living life.

To many people are in BTC only for the dollar just as gentlemand telling .... and for those people BAKKT is an enormous HOPIUM injection to get rich fast whiteout knowing d*ck, also just as gentlemand says most like very much most people on the forum are in BTC for dollars but not gonna speak out loud of-course, at the other side I do understand that a lot of people see the opportunity to make a quick buck only they will be exposed to something they don’t know and they will only read the good stories like BAKKT = MOON overnight though they must read some post like how gentlemand and more explains things like BAKKT etc
Sometimes I think when somebody owns not to much IRL it’s difficult to get into BTC and have faith and etc though that’s a flawed statement, people just need to take the time and effort to try and learn about it.... Like all things in live, understanding requires effort of learning reading rinse and repeat

fillippone

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Quote from: gentlemand on November 28, 2019, 07:16:01 AM

Quote from: fillippone on November 28, 2019, 07:09:54 AM

Bakkt cash settled futures is a way to get more people into the physical bitcoin.

I think mission plan for Bakkt is to get as many player as possible involved with physical bitcoin, selling their whole custodian infrastructure as a "safety box" ffor their holdings.
Their long term target is to dethrone CME as biggest future player and get traction on the physical bitcoin trading. Their 1-day future is a key product to understand this. (being a 1-day future very similar to a spot transaction)

It's a nice idea but most people on this very forum are only here for the dollars even if they don't say it out loud. A dollar option on Bakkt will be way more attractive to the average user.

I'm interested to see how it plays out and I'm impressed at the amount of effort they put in to have the physical option so they at least must be believers. I don't have much faith in their users. Maybe it's one of those things that'll come properly good many years down the line.

Agreed, but we all due respect to this forum, we are not Bakkt user base.
Bakkt is targeting financial institutions: real money accounts (pension funds and investments funds to start) and banks.
I think they are even barely intrested in dealing with OTC desks (whales).
Their long term objective, as I understood (and this is why I am so excited about their progresses) is to make Bitcoin a viable asset class for "traditional" investment.

The usual disclaimer is the following: "It's not Bitcoin that needs Wall Street, but Wall Street that needs bitcoin".

gentlemand

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Welt Am Draht

Quote from: fillippone on November 28, 2019, 07:09:54 AM

Bakkt cash settled futures is a way to get more people into the physical bitcoin.

I think mission plan for Bakkt is to get as many player as possible involved with physical bitcoin, selling their whole custodian infrastructure as a "safety box" ffor their holdings.
Their long term target is to dethrone CME as biggest future player and get traction on the physical bitcoin trading. Their 1-day future is a key product to understand this. (being a 1-day future very similar to a spot transaction)

It's a nice idea but most people on this very forum are only here for the dollars even if they don't say it out loud. A dollar option on Bakkt will be way more attractive to the average user.

I'm interested to see how it plays out and I'm impressed at the amount of effort they put in to have the physical option so they at least must be believers. I don't have much faith in their users. Maybe it's one of those things that'll come properly good many years down the line.

fillippone

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Quote from: gentlemand on November 28, 2019, 06:04:53 AM

Quote from: Wexlike on November 22, 2019, 07:16:10 PM

50k traded BTC daily ?? That's a shitton of volume!

But it's meaningless. And it's doubtful it's taking away 'real' volume as very few of those traders would want to go anywhere near the real market. It'll be interesting to see what Bakkt's cash settled stuff gets up to. Perhaps the Bitcoin settled bit was just a way to get some major publicity before launching that.

I would say the opposite.
Bakkt cash settled futures is a way to get more people into the physical bitcoin.

I think mission plan for Bakkt is to get as many player as possible involved with physical bitcoin, selling their whole custodian infrastructure as a "safety box" ffor their holdings.
Their long term target is to dethrone CME as biggest future player and get traction on the physical bitcoin trading. Their 1-day future is a key product to understand this. (being a 1-day future very similar to a spot transaction)

gentlemand

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Welt Am Draht

Quote from: Wexlike on November 22, 2019, 07:16:10 PM

50k traded BTC daily ?? That's a shitton of volume!

But it's meaningless. And it's doubtful it's taking away 'real' volume as very few of those traders would want to go anywhere near the real market. It'll be interesting to see what Bakkt's cash settled stuff gets up to. Perhaps the Bitcoin settled bit was just a way to get some major publicity before launching that.

Topic: Bakkt - page 4. (Read 5599 times)