<<  >> (p.108)
    Author Topic: DNotes 2.0 - Staking, CRISP Interest, DNotes Pay  (Read 148894 times)
    This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (3 posts by 1+ user deleted.)
    wiser
    Legendary
    *
    Offline Offline

    Activity: 1806
    Merit: 1029



    View Profile
    December 16, 2017, 02:52:20 AM
     #2141

    16.3 million Americans buy and sell bitcoin frequently
    https://finance.yahoo.com/news/16-3-million-americans-buy-sell-bitcoin-frequently-181415210.html

    "Cboe’s bitcoin futures are on track for a stellar first week, the CME will launch its own contract Monday and Nasdaq plans to do the same next year. Still, 74% of adults have never used the digital asset at all, according to a new Morning Consult survey.

    Meanwhile, 5% of Americans — roughly 16.3 million people — are buying and selling bitcoin frequently. Given bitcoin only hit mainstream mania this year, it’s safe to say we’re far from peak adoption.
    "


    I may be highly opposed to how some derivatives function, but there is no denying that regulated derivatives exchanges will be a great option for people who want to speculate on the price of Bitcoin. This will become more evident when the cost to buy and transact with BTC itself, becomes out of reach for the majority of individual investors.


    Not trying to spam the thread with posts here guys, but I wanted to bring up the increase in cost of Bitcoin transaction fees over the last year.

    https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

    Dec 8th 2016 average transaction fee - $0.26 USD
    Dec 8th 2017 average transaction fee - $27.20 USD

    Any thoughts on the implications this will have on the industry?

    You raise an excellent point here. I'd never actually connected the emerging Bitcoin derivative market with its high transaction fees. I personally do not speculate on the price of Bitcoin, other than trying to time my moves into Bitcoin and then into USD to coincide with Bitcoin going up (rather than down), so I didn't think of the transaction fees in those terms.

    But it is true that Bitcoin futures allow for people to speculate all they want on the price of Bitcoin without actually having to move Bitcoin. I guess whatever fees the normal derivative exchange they use is fine and familiar, but the price of moving Bitcoin would represent what seems to be an extra and unnecessary burden.
Page 107
Viewing Page: 108