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Many, many years ago I did something similar with a company called Travelzoo. They were just launching and a way to drive publicity was if you gave them your email address, you would receive some free shares. Recommend some friends and they signed up, you would get some more free shares. I ended up with 10 shares total. I forgot all about it until a college buddy asked me if I still had those shares as TZOO was trading close to $100 a share in 2011. I'd like to say I sold at the top, but was grateful for the free $ when I did sell in 2011.
The Initiative Q is nothing like Bitcoin. Bitcoin is a global network backed by proof of work, with contracts available to be traded on regulated futures market, that doesn't depend on a centralized trust/authority, solves the double spend problem, and has been implemented with limited inflation and eventual deflation with the goal of protecting value. Many of the problems of Bitcoin can be resolved if one is willing to have a trusted authority. For example, if you are willing to trust an exchange to hold your Bitcoin, the exchange can hold the Bitcoin in cold storage and issue tokens. These tokens can be traded among one another with reduced cost. In addition, the tokens also reduce the risk of hacking because they can be issued on contract and revoked. Of course, you give up the advantages of decentralized network. The cost of the payment networks is a function of the costs of security and the benefits of the monopoly status of the networks: as such, there is no reason to believe that Initiative Q would be any different as they have not detailed any technology or ideas that would change the equation. In sum, it looks like a waste of time and doesn't seem to warrant discussion in a thread on cryptos.
Arthur Hayes (CEO BITMEX) views Bitcoin as basically a call option. In his model, the higher the volatility then the more valuable Bitcoin should be. This makes sense on the surface because it can only go to zero and thus the higher the volatility then the better risk to reward ratio. On the other hand, I mentioned that declining volatility might also indicate decreased risk. This also makes some sense. An asset that isn't as volatile but offers a non-correlated return could be valuable. Is there an answer to the paradox? If the trend is positive and volatility is low then this is desirable but if the trend is negative then we need higher volatility to justify holding it.
Two important factors may be that Bitcoin can act as a credit risk amplifier and as a safe haven uncorrelated asset. Some studies have suggest both are possible. I have not did original research to try to evaluate but think it could be an interesting line.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
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Real Vision did an interview with Kathleen Moriarty who was one of the people behind SPY, a few months back. They asked her about the SEC and Bitcoin ETF's and while I don't remember exactly what she said there were still several criteria Bitcoin didn't meet inorder to be considered for an ETF, but having the listed futures was a big step in the right direction.
CBOE has applied for an ETF via SEC, they have declined two previous applications for the same product as far as I know. One application declined was placed by the Gemini exchange.
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
How can a regulator approve an ETF that its underlying asset goes from 3K to 20K, back to 6K while every single exchange does whatever they want, not to mention Korean exchanges that trade up to 30% premium during spikes?
Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email [email protected]
