Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16398.

d_eddie

legendary

Activity: 2520

Merit: 3038

Fully collateralized derivatives. I was pretty sure the first ones to get a green light must be of this kind.

Quote from: Torque on September 22, 2017, 08:57:54 AM

Quote from: rjclarke2000 on September 22, 2017, 08:55:40 AM

So is this October the 4th? I didn't understand the no sooner than bit...

Is this what it means? 4th?

I think that's market speak for "Hey big investors, back the fk off. We're not onboarding you early and before everyone else on our list, no matter how much money you want to throw at us. We're gonna do this in an orderly fashion. Plus we can't until Oct. the 4th anyway."

At least that is my interpretation. Grin

Makes lots of sense.

Quote from: Ludwig Von on September 22, 2017, 08:27:09 AM

CDS are a kind of shorts already. This brings the WS casino to BTC, I wonder if we must be happy with this... .

I think the wording reported by Torque implies that in order to short, you need to match your order with a long. Zero-sum.

This opens the door to ETF and to all kinds of Wall Street madness. This is going to be huge.

bitcoinPsycho

legendary

Activity: 2688

Merit: 2470

$120000 in 2024 Confirmed

About time someone pulled diamond up on this
https://www.google.com/url?rct=j&sa=t&url=http://www.express.co.uk/finance/city/857456/Bitcoin-price-update-Jamie-Dimon-fraud-market-abuse-currency-news&ct=ga&cd=CAEYAioUMTA5NjIyNzY1MjQ0MTU4MTk1MzQyHDlkMjI1NjUyODE3ODFjMDQ6Y28udWs6ZW46R0I&usg=AFQjCNFQMkR7K6w_aoGxXb_7efRANtd1Sw

Karartma1

legendary

Activity: 2310

Merit: 1422

JD from JP is becoming one of my favourite Bitcoin is dead proponents.
Anyway, people here ain't stupid.
I see real people, normal people like all of us buying good chunk of coins.
One day we will keep only a few dollars into our bank accounts and our wealth will all be stored on pvt keys.

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Quote from: Torque on September 22, 2017, 10:00:29 AM

Quote from: Wekkel on September 22, 2017, 09:42:41 AM

Whatever it is, Bitcoin bites off any hand that tries to 'close it down'. All the negative news lately serves one thing and one thing only: more awareness of this unstoppable thing. It's logical.

FUD so big they're now putting it right on the front page! Gotta keep Average Joes far away!

https://www.cnbc.com/

The Jp Morgan crook doesn't like bitcoin. Shock.

It's fine for him making obscene money and being a crook but he doesn't like bitcoin because it's not government controlled.

Government controlled makes it better right? the interview is a total joke and a bit embarrassing making him look like a total dinosaur.

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: Wekkel on September 22, 2017, 09:42:41 AM

Whatever it is, Bitcoin bites off any hand that tries to 'close it down'. All the negative news lately serves one thing and one thing only: more awareness of this unstoppable thing. It's logical.

FUD so big they're now putting it right on the front page! Gotta keep Average Joes far away!

https://www.cnbc.com/

"If you really wanted to turn off the global internet, you'd have to seek out people on every continent and every country," said Cowie from Renesys. "The internet is so decentralized that there is no kill switch." "No you can't do that," said Harvard's Faris. "The internet is designed to be robust. Feb 3, 2011

"Governments will close down bitcoin and cryptocurrencies if they get too big", warns Jamie Dimon Sept 20, 2017

Wekkel

legendary

Activity: 3122

Merit: 1538

yes

Whatever it is, Bitcoin bites off any hand that tries to 'close it down'. All the negative news lately serves one thing and one thing only: more awareness of this unstoppable thing. It's logical.

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: rjclarke2000 on September 22, 2017, 08:55:40 AM

So is this October the 4th? I didn't understand the no sooner than bit...

Is this what it means? 4th?

I think that's market speak for "Hey big investors, back the fk off. We're not onboarding you early and before everyone else on our list, no matter how much money you want to throw at us. We're gonna do this in an orderly fashion. Plus we can't until Oct. the 4th anyway."

At least that is my interpretation. Grin

rjclarke2000

legendary

Activity: 1358

Merit: 1016

So is this October the 4th? I didn't understand the no sooner than bit...

Is this what it means? 4th?

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Wife, daughter, son, brother, sister ... If you've got enough money to buy half a million bitcoins.

fragout

legendary

Activity: 1279

Merit: 1018

THis LedgerX thing is a joke. Tiny limits allowed :0--

F. Contract   Size.      Each   Contract   will   be   for   a   single   Underlying   (i.e., one   bitcoin).

G. Position   Limits.      As   of   any   date   of determination,

no   person   will   own   or control
positions   in   excess   of   100,000   Contracts.

So you are not allowed to own more than 100k btc per person. I wonder could you get 200k using the wifes account ?

NewWorldCoiner

sr. member

Activity: 490

Merit: 250

Saved you from a scam? Send me some BTC!

Quote from: rjclarke2000 on September 22, 2017, 08:14:57 AM

Thanks torque

Ok so basically I don't know anything about ledgerX but I'm guessing this is a good way for certain people to invest in bitcoin without buying coins so to speak.

How big is this news and why isn't anyone excited yet then?

They'll be buying coins alright:

"Prior to placing a bid to purchase one or more Exchange Contracts, a prospective buyer must post
to LedgerX the USD bid amount of each Exchange Contract it wishes to purchase, the aggregate
amount of which will be debited from such buyer’s account on the Initial Payment Date in
satisfaction of such buyer’s delivery obligation under each such Exchange Contract. At settlement,
the buyer will receive physical delivery of one bitcoin for each Exchange Contract purchased.

Notwithstanding the foregoing, a buyer that has a net short Exchange Contract position at LedgerX
prior to purchasing one or more additional Exchange Contracts will have short positions assigned
to one or more sellers of Exchange Contracts with the same Trade Date. As a result, any such
buyer will receive physical delivery of bitcoin only to the extent that the number of Exchange
Contracts purchased on such Trade Date is net positive (e.g., a buyer with an open short interest
of 5 bitcoin who then purchases 10 Exchange Contracts would receive 5 bitcoin at settlement)."

Should be good IMHO.

Ludwig Von

sr. member

Activity: 854

Merit: 307

Quote from: Torque on September 22, 2017, 08:21:06 AM

Quote from: rjclarke2000 on September 22, 2017, 08:14:57 AM

Thanks torque

Ok so basically I don't know anything about ledgerX but I'm guessing this is a good way for certain people to invest in bitcoin without buying coins so to speak.

How big is this news and why isn't anyone excited yet then?

It allows high net worth hedge fund investors and individual investors gain exposure to bitcoin through fully collateralized credit default swaps. This is potentially huge because there are CFTC rules in place that prevent such fund entities from doing this on their own directly. LedgerX has been granted permission to be the clearing house.

I guess no one is excited yet because they haven't seen the impact of what this could do for the market and price. Esp since onboarding isn't until Oct now.

CDS are a kind of shorts already. This brings the WS casino to BTC, I wonder if we must be happy with this... .

gembitz

hero member

Activity: 1848

Merit: 640

*Brute force will solve any Bitcoin problem*

Quote from: Torque on September 22, 2017, 07:37:33 AM

Price being pushed down for this?

https://twitter.com/RichardHeartWin/status/910942080704360448

September 30th-October 4th===> bitcoin goes apeshit !! Grin

#GoGoUSA

https://www.youtube.com/watch?v=MKtkQu_f1_o

Cool

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: rjclarke2000 on September 22, 2017, 08:14:57 AM

Thanks torque

Ok so basically I don't know anything about ledgerX but I'm guessing this is a good way for certain people to invest in bitcoin without buying coins so to speak.

How big is this news and why isn't anyone excited yet then?

It allows high net worth hedge fund investors and individual investors gain exposure to bitcoin through fully collateralized credit default swaps. This is potentially huge because there are CFTC rules in place that prevent such fund entities from doing this on their own directly. LedgerX has been granted permission to be the clearing house.

I guess no one is excited yet because they haven't seen the impact of what this could do for the market and price. Esp since onboarding isn't until Oct now.

Funny side note, I read an interview with the CEO and founder Paul Chou. He said that he had to laugh when some investors called up and inquired about bitcoin, only to find out that there was a hard cap of 21M and "why can't they just issue more shares?" Lol

At the time it made me think, does that type of shit happen in the stock market world? That they're just issuing more shares on the down low to certain institutional investors? Methinks yes.

fragout

legendary

Activity: 1279

Merit: 1018

Quote from: rjclarke2000 on September 22, 2017, 08:01:05 AM

Quote from: Torque on September 22, 2017, 07:57:08 AM

Quote from: rjclarke2000 on September 22, 2017, 07:45:00 AM

Also won't this cause massive shorting? IDK.

Ding ding ding. It's happening right now.

I mean when it's open for business. Won't the price swings get far more violent?

No clue here but i saw this in the comments section. - RTFM! "bitcoin..in account.. at least equal to the number of Exchange Contracts it wishes to sell" That means full reserve no naked shorts.

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Quote from: Torque on September 22, 2017, 08:04:43 AM

Quote from: rjclarke2000 on September 22, 2017, 08:01:05 AM

Quote from: Torque on September 22, 2017, 07:57:08 AM

Quote from: rjclarke2000 on September 22, 2017, 07:45:00 AM

Also won't this cause massive shorting? IDK.

Ding ding ding. It's happening right now.

I mean when it's open for business. Won't the price swings get far more violent?

Oh, sorry, misunderstood. I don't believe LedgerX allows shorting through their platform according to the trading document I read on their site.

Edit:

Quote from: Torque on August 12, 2017, 11:59:53 AM

So I did a little reading of the LedgerX trader's rulebook. Some encouraging things I noticed:

1) Only market/limit order buying and selling

2) No shorting, no margin trading

3) Trading only available Mon. - Fri., 9AM -5PM (so essentially only during U.S. stock market hours)

4) Credit swaps fully collateralized

5) Have to meet certain hedge fund or individual investor requirements to become a member

6) Only available to U.S. based entities

7) Trading to commence in ~~September~~ October

Thanks torque

Ok so basically I don't know anything about ledgerX but I'm guessing this is a good way for certain people to invest in bitcoin without buying coins so to speak.

How big is this news and why isn't anyone excited yet then?

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: rjclarke2000 on September 22, 2017, 08:01:05 AM

Quote from: Torque on September 22, 2017, 07:57:08 AM

Quote from: rjclarke2000 on September 22, 2017, 07:45:00 AM

Also won't this cause massive shorting? IDK.

Ding ding ding. It's happening right now.

I mean when it's open for business. Won't the price swings get far more violent?

Oh, sorry, misunderstood. I don't believe LedgerX allows shorting through their platform according to the trading document I read on their site.

Edit:

Quote from: Torque on August 12, 2017, 11:59:53 AM

So I did a little reading of the LedgerX trader's rulebook. Some encouraging things I noticed:

1) Only market/limit order buying and selling

2) No shorting, no margin trading

3) Trading only available Mon. - Fri., 9AM -5PM (so essentially only during U.S. stock market hours)

4) Credit swaps fully collateralized

5) Have to meet certain hedge fund or individual investor requirements to become a member

6) Only available to U.S. based entities

7) Trading to commence in ~~September~~ October

rjclarke2000

legendary

Activity: 1358

Merit: 1016

Quote from: Torque on September 22, 2017, 07:57:08 AM

Quote from: rjclarke2000 on September 22, 2017, 07:45:00 AM

Also won't this cause massive shorting? IDK.

Ding ding ding. It's happening right now.

I mean when it's open for business. Won't the price swings get far more violent?

Last of the V8s

legendary

Activity: 1652

Merit: 4393

Be a bank

It's happening.gif Grin

https://www.youtube.com/watch?v=Jw5icKcmdbA
Off Chain Ep. 6 - On-Chain Atomic Swaps with Charlie Lee, Dave Collins and Jake Yocom-Piatt

Torque

legendary

Activity: 3794

Merit: 5474

Quote from: rjclarke2000 on September 22, 2017, 07:45:00 AM

Also won't this cause massive shorting? IDK.

Ding ding ding. It's happening right now.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16398. (Read 26720873 times)