NYSE parent company may open actual Bitcoin trading

thecodebear

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Quote from: jseverson on May 10, 2018, 09:57:26 AM

Quote from: kolesozw on May 09, 2018, 03:43:22 PM

I read it and for me this is just a hype at this point.

Also, I didn't see any great impact over price last year when the future contract was added to the market. Crypto-currencies are not-so compatible with the regular trading tools and approaches to the market.

You may be right, but I'm sure Bitcoin futures was only hype at some point in the past as well, and here we are now.

To be fair, CBOE launched their Bitcoin futures on December 10, which coincided with the furious December rally. No one knows for sure what spurred that on, but it's very possible that futures was a significant factor.

Either way, the more accessible Bitcoin is for more people, the better. If nothing else, major market players opening exchanges help on that front.

Oh I don't think there is any doubt that the hype around futures is what took Bitcoin from $6k to $20k in 6 weeks. The september crash had just ended by mid-october or so and it had moved up to $6k, then the first futures market was announced and Bitcoin immediately started moving up hard. Futures were THE factor in the end of the year mania phase that brought about the crash back to a bottom of what the price was right when futures were first announced. Of course the reason for the hype is because everyone was saying futures (which don't do anything to directly help the price of bitcoin) was gonna lead to actual bitcoin investment by Wall St firms. Now half a year later we are getting this first piece of news about a Wall St firm planning to actually get into Bitcoin. That will be the start of moving from the early adopter phase to the institutional investor phase. The next Bitcoin boom will be from a flood of Wall St money, of course greased by another flood of FOMO Main St money as well.

jseverson

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Quote from: kolesozw on May 09, 2018, 03:43:22 PM

I read it and for me this is just a hype at this point.

Also, I didn't see any great impact over price last year when the future contract was added to the market. Crypto-currencies are not-so compatible with the regular trading tools and approaches to the market.

You may be right, but I'm sure Bitcoin futures was only hype at some point in the past as well, and here we are now.

To be fair, CBOE launched their Bitcoin futures on December 10, which coincided with the furious December rally. No one knows for sure what spurred that on, but it's very possible that futures was a significant factor.

Either way, the more accessible Bitcoin is for more people, the better. If nothing else, major market players opening exchanges help on that front.

thecodebear

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Quote from: TheQuin on May 10, 2018, 04:42:33 AM

Quote from: magneto on May 10, 2018, 03:25:37 AM

It's probably too early to tell whether this will actually come into fruition or not.

It's only a matter of time.

Quote from: magneto on May 10, 2018, 03:25:37 AM

We're only seeing the start of the institutional players coming into the picture, which is again a reason why I feel like that the long term future of bitcoin is still quite bright, and there are obviously gains to be realised if you were to get into BTC right now.

There is no way the main financial exchanges were going to sit back and let new upstart exchanges take all the profit. It might seem like it is slow to us, but it is only 9 nine years in and those old players are naturally cautious. They were always going to wait and see how it grew before getting involved. This is a reminder that anyone getting involved in Bitcoin now is an early adopter.

Yea absolutely we are still in the early adopter phase, just nearing the end of that phase. The next boom, likely next year, will be the end of the early adopter phase as the institutional player will start taking a piece of the pie.

thecodebear

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Quote from: LFC_Bitcoin on May 10, 2018, 04:41:57 AM

I wouldn’t get too excited, there’s always rumours about this type of thing. They like to tickle our balls but not finish the job.

haha hilarious description

TheQuin

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Quote from: magneto on May 10, 2018, 03:25:37 AM

It's probably too early to tell whether this will actually come into fruition or not.

It's only a matter of time.

Quote from: magneto on May 10, 2018, 03:25:37 AM

We're only seeing the start of the institutional players coming into the picture, which is again a reason why I feel like that the long term future of bitcoin is still quite bright, and there are obviously gains to be realised if you were to get into BTC right now.

There is no way the main financial exchanges were going to sit back and let new upstart exchanges take all the profit. It might seem like it is slow to us, but it is only 9 nine years in and those old players are naturally cautious. They were always going to wait and see how it grew before getting involved. This is a reminder that anyone getting involved in Bitcoin now is an early adopter.

LFC_Bitcoin

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I wouldn’t get too excited, there’s always rumours about this type of thing. They like to tickle our balls but not finish the job.

magneto

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Quote from: thecodebear on May 09, 2018, 09:43:27 AM

https://cointelegraph.com/news/nyses-plans-for-physical-delivery-of-bitcoin-pave-way-for-major-crypto-adoption-analysts-say

If this happens it could be the start of actual Wall St adoption. So far its just been futures, and while a lot of firms are planning on starting Bitcoin trading (like Goldman Sachs) right now it just seems that they are planning on offering investment products for betting on the price of bitcoin instead of actually purchasing Bitcoin, which does nothing for Bitcoin itself. But if this news turns out to be true, this will be the first news we have of a Wall St player actually getting into Bitcoin itself. The RIIIIIIIIISE!!

It's probably too early to tell whether this will actually come into fruition or not.

But obviously if it does, then it's huge news. And instead of trading just trading "paper bitcoins", apparently this one will be different with the physical delivery of bitcoin, which is a huge leap forward.

We're only seeing the start of the institutional players coming into the picture, which is again a reason why I feel like that the long term future of bitcoin is still quite bright, and there are obviously gains to be realised if you were to get into BTC right now.

CryptoBry

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Quote from: thecodebear on May 09, 2018, 09:43:27 AM

https://cointelegraph.com/news/nyses-plans-for-physical-delivery-of-bitcoin-pave-way-for-major-crypto-adoption-analysts-say

If this happens it could be the start of actual Wall St adoption. So far its just been futures, and while a lot of firms are planning on starting Bitcoin trading (like Goldman Sachs) right now it just seems that they are planning on offering investment products for betting on the price of bitcoin instead of actually purchasing Bitcoin, which does nothing for Bitcoin itself. But if this news turns out to be true, this will be the first news we have of a Wall St player actually getting into Bitcoin itself. The RIIIIIIIIISE!!

I have the same feeling with Bitcoin Futures which actually contributed nothing solid towards the use of Bitcoin because no Bitcoin actually changed hands in the prices...this is more of a gambling platform and just using the price of Bitcoin as the gauge. With trading it is very different since movement is really happening. I am hoping that this plan will eventually make it and that many others will follow the lead.

BitHodler

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Quote from: kolesozw on May 09, 2018, 03:43:22 PM

I read it and for me this is just a hype at this point.

I agree. In recent times we had a massive influx of these news articles where banks and hedge funds plan all kinds of things, while in reality it's nothing more than a thought they are working on, or think to go work on later.

That being said, everything is better than the loads of fud and negativity we have been dealing with for months. Every bit of positivity helps increasing the sentiment, and that might guide us through the $10,000 mark soon.

By the time they are actually working on it and nearing completion, I just hope that the regulatory framework will allow them to launch their services. Regulators are incredibly slow with catching up on crypto, that we know.

We'll see what happens. I'm still waiting for the first ETF.

Koloulinger

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i think is good news if newyork stock exchange or nasdaq open market bitcoin trading
if in year can realized, bitcoin price can incraese high

thecodebear

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Quote from: kolesozw on May 09, 2018, 03:43:22 PM

I read it and for me this is just a hype at this point.

Also, I didn't see any great impact over price last year when the future contract was added to the market. Crypto-currencies are not-so compatible with the regular trading tools and approaches to the market.

Are you kidding me?? When futures were announced in late October Bitcoin was at $6000 and it started shooting up to $20k in 6 weeks. I'd certainly call that a great impact. And that was entirely just from hype, which then fizzled out and crashed when the futures launched and they weren't even that popular and more importantly since they were just futures they had nothing to do with buying and selling actual Bitcoin.

Anyway here we are talking about the real thing. A Wall St firm talking about possibly starting to buy actual Bitcoin, instead of just betting on the price of Bitcoin through futures which does nothing to affect the Bitcoin market.

Unlike futures that just increased the demand (and therefore the price) through people buying because of hype, if the NYSE starts buying actual Bitcoin that will (obviously) directly increase the actual demand for Bitcoin instead of just creating hype.

kolesozw

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I read it and for me this is just a hype at this point.

Also, I didn't see any great impact over price last year when the future contract was added to the market. Crypto-currencies are not-so compatible with the regular trading tools and approaches to the market.

thecodebear

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Quote from: faaty on May 09, 2018, 02:51:57 PM

This news awesome. It is far better tha future contracts in last year that pumped bitcoin up to 20k. I believe bitcoin price will rach to 100k usd if everything goes fine with Nyse and nasdaq

Yea Bitcoin went from $6k to $20k in like 6 weeks all based around hype of futures starting. Then the crash erased all the gains from that futures hype.
But when the NYSE and other Wall St firms start actually holding Bitcoin that is when we go much higher from actual investment support and not just hype.

faaty

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This news awesome. It is far better tha future contracts in last year that pumped bitcoin up to 20k. I believe bitcoin price will rach to 100k usd if everything goes fine with Nyse and nasdaq

ssmc2

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Quote from: Denker on May 09, 2018, 10:53:42 AM

The most interesting thing about this news is that the swap contracts are probably going to be settled in Bitcoin.
So this means to have real skin in the game and not just shitty cash where all these mega rich have enough from.
I could imagine these guys pumping BTC so hard in a short time frame that greedy dummies without any long term view are willing to sell for $30k to $50k.

This ^

Denker

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The most interesting thing about this news is that the swap contracts are probably going to be settled in Bitcoin.
So this means to have real skin in the game and not just shitty cash where all these mega rich have enough from.
I could imagine these guys pumping BTC so hard in a short time frame that greedy dummies without any long term view are willing to sell for $30k to $50k.
And then in a few years, around 2024 they are going to regret so much when Bitcoin could be worth something in the 6 figures.

Another great news which got announced a few hours ago is the launch of the Bloomberg Crypto Galaxy Index (BGCI).

https://www.bloomberg.com/company/announcements/bloomberg_galaxy_launch_cryptocurrency_index/

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Quote from: fabiorem on May 09, 2018, 09:51:36 AM

I remember some months ago NASDAQ had planned futures for the second quarter. We are in the second quarter now, and no news of it.

Actual bitcoin trading would be much better than speculating with papers. They probably had accumulated enough from the weak hands since the December crash. But, different from gold, they dont have most of the supply.

I do not really like the word "plotting" there is always a lot of change when planning starts. it is much better to trade real bitcoin. than waiting for something that is not sure will happen and success

fabiorem

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I remember some months ago NASDAQ had planned futures for the second quarter. We are in the second quarter now, and no news of it.

Actual bitcoin trading would be much better than speculating with papers. They probably had accumulated enough from the weak hands since the December crash. But, different from gold, they dont have most of the supply.

thecodebear

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https://cointelegraph.com/news/nyses-plans-for-physical-delivery-of-bitcoin-pave-way-for-major-crypto-adoption-analysts-say

If this happens it could be the start of actual Wall St adoption. So far its just been futures, and while a lot of firms are planning on starting Bitcoin trading (like Goldman Sachs) right now it just seems that they are planning on offering investment products for betting on the price of bitcoin instead of actually purchasing Bitcoin, which does nothing for Bitcoin itself. But if this news turns out to be true, this will be the first news we have of a Wall St player actually getting into Bitcoin itself. The RIIIIIIIIISE!!

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