Saturday, 21 September 2019

Latest News - CME Group to Offer Options on Bitcoin Futures in Q1 2020

The Chicago Mercantile Exchange (CME) Group plans to add options to its bitcoin futures contracts at the beginning of 2020. In an official announcement made on September 20, 2019, the company, which launched its first futures product in 2017, said that the bitcoin options would provide clients with “additional tools for precision hedging and trading.” 

The options are currently being reviewed by regulators, and CME confirmed that once the addition clears, they will be available for purchase.

Bitcoin futures contracts allow investors to buy bitcoin at a predetermined price at a specific time in the future, letting them speculate on what they think the price will be. To date, there have been 20 successful futures expiration settlements and over 3,300 individual accounts have traded the product, according to CME’s announcement. Options contracts give investors the choice of whether or not to sell their futures contract on or before an expiration date, a product typically preferred by hedgers.

“These new products are designed to help institutions and professional traders to manage spot market Bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment,” CME Group’s Global Head of Equity Index and Alternative Investment Products Tim McCourt said, per the announcement.

Bitcoin Futures Market Heating Up

In June 2019, a liquidity report published by CME Group revealed that it had set new records in both open interest and average daily trading volume the month prior. At the time, bitcoin futures hit 13,600 contracts in average daily volumes, worth about $515 million in notional traded value. This marked an increase of about 250 percent over the same period in 2018. Open interests (or contracts left unsettled) climbed up to 4,602; about 80 percent higher than in May 2018.

Things could get interesting for CME Group, as Intercontinental Exchange’s Bakkt gears up to launch its physically settled bitcoin futures on September 23, 2019. Bakkt’s qualified custodian, Bakkt Warehouse, also opened its doors for bitcoin deposits and withdrawals in September 2019. Though Bakkt’s futures offering was delayed beyond expectation over the firm’s difficulty in satisfying the requirements of U.S. regulators, particularly the Commodity Futures Trading Commission (CFTC), which tested the platform back in July 2019. 

But now, the stars seem aligned for the launch of Bakkt’s physical bitcoin futures. The chief difference between Bakkt’s options and that of CME’s lies with the settlement. The CME Group is providing cash settlements, while Bakkt’s contracts would be settled in bitcoin.

The post CME Group to Offer Options on Bitcoin Futures in Q1 2020 appeared first on Bitcoin Magazine.



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NRA crowns Beto O'Rourke AR-15 salesman of the month: 'Possibly even of the year'


The National Rifle Association labeled presidential candidate Beto O'Rourke the "AR-15 salesman of the month" after he called for the confiscation of AR-15s and AK-47s.
The gun rights group suggested the former Texas congressman could even be the AR-15 salesman of the year.  Possibly even of the year pic.twitter.com/ESnA4Qur93 — NRA (@NRA) September 19, 2019

"We will NEVER turn in our AR-15s. We are law-abiding Americans who fight to protect our Second Amendment so we can effectively defend ourselves, our communities, and our loved ones," the NRA also tweeted in response to O'Rourke's plan.

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Latest News - CME Group to Offer Options on Bitcoin Futures in Q1 2020

The Chicago Mercantile Exchange (CME) Group plans to add options to its bitcoin futures contracts at the beginning of 2020. In an official announcement made on September 20, 2019, the company, which launched its first futures product in 2017, said that the bitcoin options would provide clients with “additional tools for precision hedging and trading.” 

The options are currently being reviewed by regulators, and CME confirmed that once the addition clears, they will be available for purchase.

Bitcoin futures contracts allow investors to buy bitcoin at a predetermined price at a specific time in the future, letting them speculate on what they think the price will be. To date, there have been 20 successful futures expiration settlements and over 3,300 individual accounts have traded the product, according to CME’s announcement. Options contracts give investors the choice of whether or not to sell their futures contract on or before an expiration date, a product typically preferred by hedgers.

“These new products are designed to help institutions and professional traders to manage spot market Bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment,” CME Group’s Global Head of Equity Index and Alternative Investment Products Tim McCourt said, per the announcement.

Bitcoin Futures Market Heating Up

In June 2019, a liquidity report published by CME Group revealed that it had set new records in both open interest and average daily trading volume the month prior. At the time, bitcoin futures hit 13,600 contracts in average daily volumes, worth about $515 million in notional traded value. This marked an increase of about 250 percent over the same period in 2018. Open interests (or contracts left unsettled) climbed up to 4,602; about 80 percent higher than in May 2018.

Things could get interesting for CME Group, as Intercontinental Exchange’s Bakkt gears up to launch its physically settled bitcoin futures on September 23, 2019. Bakkt’s qualified custodian, Bakkt Warehouse, also opened its doors for bitcoin deposits and withdrawals in September 2019. Though Bakkt’s futures offering was delayed beyond expectation over the firm’s difficulty in satisfying the requirements of U.S. regulators, particularly the Commodity Futures Trading Commission (CFTC), which tested the platform back in July 2019. 

But now, the stars seem aligned for the launch of Bakkt’s physical bitcoin futures. The chief difference between Bakkt’s options and that of CME’s lies with the settlement. The CME Group is providing cash settlements, while Bakkt’s contracts would be settled in bitcoin.

The post CME Group to Offer Options on Bitcoin Futures in Q1 2020 appeared first on Bitcoin Magazine.



from Bitcoin Magazine https://ift.tt/30nTMBu


Latest News - CME Group to Offer Options on Bitcoin Futures in Q1 2020

The Chicago Mercantile Exchange (CME) Group plans to add options to its bitcoin futures contracts at the beginning of 2020. In an official announcement made on September 20, 2019, the company, which launched its first futures product in 2017, said that the bitcoin options would provide clients with “additional tools for precision hedging and trading.” 

The options are currently being reviewed by regulators, and CME confirmed that once the addition clears, they will be available for purchase.

Bitcoin futures contracts allow investors to buy bitcoin at a predetermined price at a specific time in the future, letting them speculate on what they think the price will be. To date, there have been 20 successful futures expiration settlements and over 3,300 individual accounts have traded the product, according to CME’s announcement. Options contracts give investors the choice of whether or not to sell their futures contract on or before an expiration date, a product typically preferred by hedgers.

“These new products are designed to help institutions and professional traders to manage spot market Bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment,” CME Group’s Global Head of Equity Index and Alternative Investment Products Tim McCourt said, per the announcement.

Bitcoin Futures Market Heating Up

In June 2019, a liquidity report published by CME Group revealed that it had set new records in both open interest and average daily trading volume the month prior. At the time, bitcoin futures hit 13,600 contracts in average daily volumes, worth about $515 million in notional traded value. This marked an increase of about 250 percent over the same period in 2018. Open interests (or contracts left unsettled) climbed up to 4,602; about 80 percent higher than in May 2018.

Things could get interesting for CME Group, as Intercontinental Exchange’s Bakkt gears up to launch its physically settled bitcoin futures on September 23, 2019. Bakkt’s qualified custodian, Bakkt Warehouse, also opened its doors for bitcoin deposits and withdrawals in September 2019. Though Bakkt’s futures offering was delayed beyond expectation over the firm’s difficulty in satisfying the requirements of U.S. regulators, particularly the Commodity Futures Trading Commission (CFTC), which tested the platform back in July 2019. 

But now, the stars seem aligned for the launch of Bakkt’s physical bitcoin futures. The chief difference between Bakkt’s options and that of CME’s lies with the settlement. The CME Group is providing cash settlements, while Bakkt’s contracts would be settled in bitcoin.

The post CME Group to Offer Options on Bitcoin Futures in Q1 2020 appeared first on Bitcoin Magazine.



from Bitcoin Magazine https://ift.tt/30nTMBu


Latest News - CME Group to Offer Options on Bitcoin Futures in Q1 2020

The Chicago Mercantile Exchange (CME) Group plans to add options to its bitcoin futures contracts at the beginning of 2020. In an official announcement made on September 20, 2019, the company, which launched its first futures product in 2017, said that the bitcoin options would provide clients with “additional tools for precision hedging and trading.” 

The options are currently being reviewed by regulators, and CME confirmed that once the addition clears, they will be available for purchase.

Bitcoin futures contracts allow investors to buy bitcoin at a predetermined price at a specific time in the future, letting them speculate on what they think the price will be. To date, there have been 20 successful futures expiration settlements and over 3,300 individual accounts have traded the product, according to CME’s announcement. Options contracts give investors the choice of whether or not to sell their futures contract on or before an expiration date, a product typically preferred by hedgers.

“These new products are designed to help institutions and professional traders to manage spot market Bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment,” CME Group’s Global Head of Equity Index and Alternative Investment Products Tim McCourt said, per the announcement.

Bitcoin Futures Market Heating Up

In June 2019, a liquidity report published by CME Group revealed that it had set new records in both open interest and average daily trading volume the month prior. At the time, bitcoin futures hit 13,600 contracts in average daily volumes, worth about $515 million in notional traded value. This marked an increase of about 250 percent over the same period in 2018. Open interests (or contracts left unsettled) climbed up to 4,602; about 80 percent higher than in May 2018.

Things could get interesting for CME Group, as Intercontinental Exchange’s Bakkt gears up to launch its physically settled bitcoin futures on September 23, 2019. Bakkt’s qualified custodian, Bakkt Warehouse, also opened its doors for bitcoin deposits and withdrawals in September 2019. Though Bakkt’s futures offering was delayed beyond expectation over the firm’s difficulty in satisfying the requirements of U.S. regulators, particularly the Commodity Futures Trading Commission (CFTC), which tested the platform back in July 2019. 

But now, the stars seem aligned for the launch of Bakkt’s physical bitcoin futures. The chief difference between Bakkt’s options and that of CME’s lies with the settlement. The CME Group is providing cash settlements, while Bakkt’s contracts would be settled in bitcoin.

The post CME Group to Offer Options on Bitcoin Futures in Q1 2020 appeared first on Bitcoin Magazine.



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Trump taps Clinton, Obama precedent on whistleblower executive privilege

A top House Democrat accused the administration Thursday of stonewalling a probe into a national security whistleblower’s complaint against President Trump by raising executive privilege, but Presidents Bill Clinton and Barack Obama also insisted on the right to privilege in such cases.

Emerging from a three-hour, closed-door briefing with an inspector general, Rep. Adam B. Schiff, California Democrat and chairman of the House Permanent Select Committee on Intelligence, said the Justice Department is shielding the White House by barring disclosure of details about the whistleblower’s complaint.

“This shows someone is trying to manipulate the system to keep information about an urgent matter from the Congress,” Mr. Schiff told reporters. “There is no privilege that covers whether the White House is involved and trying to stifle a whistleblower complaint. There’s no privilege to be corrupt.”

Mr. Schiff is demanding that the administration turn over the complaint, which reportedly says the president made an unspecified “promise” to an unspecified foreign head of state during a phone conversation sometime this summer. Intelligence Community Inspector General Michael Atkinson deemed the complaint credible and of “urgent concern,” turning heads on Capitol Hill.

Mr. Trump on Thursday rejected accusations that he made an inappropriate promise to a foreign leader. He said he wouldn’t be “dumb enough” to take such action while other officials were monitoring his phone conversations.

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Latest News - Op Ed: Hear Me Out … In a Post-Area 51 World, Bitcoin Could Be Our Best Hope for Alien Interaction

Picture this:

It’s a blistering, dry morning in the middle of the Nevada desert. Thousands of people line up, arms outstretched, ready to make their full-fledged sprint into the notorious, yet unknown U.S. Air Force facility known as Area 51 base. Overwhelmed by the sheer number of assailants and aversion to harming innocent people, the guards lay down their weapons and allow these ridiculous crusaders access to the secret research taking place there. Sure enough, the Area 51 raid has worked and alien hunters turn a corner and find themselves face to face with a real-life alien.

Now what? Aliens are real, they’re here and they’re ready to chat. How do you begin to communicate with something that has no commonality with you? Here’s an interesting idea of where to start. 

Math as Area 51 Communication

Bits are either ones or zeros, designed to convey either a “yes” or “no” based on whether electrons are passed through a gate or not. Show an alien that exact structure in action, and it will allow us to form the basis of communication.

If 1 means yes, then 1 – 1 = yes minus yes which equals no or 0. Now the aliens understand minus because there’s no other operation you can put in between yes and yes to get no. Now you can demonstrate plus: 1 + 0 = 1 and 1 + 1 = 2. Now they know that two is the next number after 1 and have begun to build the schema to use arabic numerals to communicate via math. Rinse and repeat to build out the number system, explain multiplication/division, get through calculus, etc. 

Math is the language of conveying facts: It’s where you would have to start when communicating with an alien since even a smile or a head nod may not be innately understood from the start. English and all other languages are simply ways to add color to fact (math) and transmit value through communication.

We Are All Earthlings

Once aliens begin to communicate with us mere earthlings, the next obvious realization is that they see us as just that: earthlings. We’re no longer American, French, Chinese or Russian. We’re all members of Earth, and in our interactions with an alien species, we are simply one group. 

Very quickly, we will need one system of value and communication across the world, and you’d be hard-pressed to convince me that the whole world would agree to solely use the USD in order to do business with aliens. The USD is the world reserve currency and is already widely used, but people will not be satisfied for long with having to use a currency in their everyday lives that they ultimately have no control over and that has no interest in seeing them succeed, no matter where they live on the planet.

What I’m getting at is that there will need to be a global currency that isn’t controlled by any one entity, and we’d need for that currency to have already been established and for the infrastructure to already be in place. If only we had a solution… 

Enter, Bitcoin

Bitcoin will be the obvious way for us to unify our world under a common value system. Bitcoin will be how we transact with aliens.

There’s an added boost for Bitcoin too: It’s based on those 1s and 0s that would be the most basic way to communicate in the first place. Bitcoin is effectively math money and, therefore, would be the first choice for aliens to transact with as well.

Thanks to SegWit and the Lightning Network (or at least what the Lightning Network could eventually become), it would be possible not only for aliens to transact in bitcoin locally (local to Earth anyway), but also take it with them back to their own planets and create mesh Lightning Networks to trade there. Effectively, aliens would be able to treat bitcoin in the same way Americans treat euros, and, assuming they also have a digital monetary system equal to bitcoin, we might be able to do the same with their currency.

Bitcoin in Peace or War

This is all assuming these aliens are not adversarial creatures. Should they want war, we’d have to figure out ways not only to physically protect ourselves but also to economically protect ourselves. 

Let’s assume this advanced civilization cracked quantum computing. With a few keystrokes, they could take down segments of our legacy financial system; the cryptography protecting it is weak in some places and allows for many points of failure. Bitcoin, on the other hand, would presumably be nimble enough to emergency hard fork into a quantum-safe algorithm, and potentially emerge relatively unscathed. Score another one for Bitcoin.

If the aliens are conquerors in the same way the Nazis were during World War II, you could also presume they’d want to capture items of value and take them for themselves. They wouldn’t be able to capture bitcoin though. Besides the fact that a desperate earthling could quickly transfer his or her bitcoin instantly anywhere else if faced with imminent peril, aliens also wouldn’t really know where to look for the bitcoin, and a person could even be walking around with a brain wallet and really make their bitcoin unconfiscatable. Bitcoin would be the ultimate protection of wealth from invaders, alien or otherwise.

So I’m not saying that during the Area 51 raid a group of millennials and Gen Zers will actually muster the courage to rush our industrial military complex. I’m not saying if they do, they will come face to face with our galactic brethren. All I’m saying is that, if both of those things happened, it would be yet another potential catalyst for bitcoin to emerge as a global monetary system.

This is a guest post by Brandon Green. Opinions expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.

The post Op Ed: Hear Me Out … In a Post-Area 51 World, Bitcoin Could Be Our Best Hope for Alien Interaction appeared first on Bitcoin Magazine.



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Latest News - CME Group to Offer Options on Bitcoin Futures in Q1 2020

The Chicago Mercantile Exchange (CME) Group plans to add options to its bitcoin futures contracts at the beginning of 2020. In an official announcement made on September 20, 2019, the company, which launched its first futures product in 2017, said that the bitcoin options would provide clients with “additional tools for precision hedging and trading.” 

The options are currently being reviewed by regulators, and CME confirmed that once the addition clears, they will be available for purchase.

Bitcoin futures contracts allow investors to buy bitcoin at a predetermined price at a specific time in the future, letting them speculate on what they think the price will be. To date, there have been 20 successful futures expiration settlements and over 3,300 individual accounts have traded the product, according to CME’s announcement. Options contracts give investors the choice of whether or not to sell their futures contract on or before an expiration date, a product typically preferred by hedgers.

“These new products are designed to help institutions and professional traders to manage spot market Bitcoin exposure, as well as hedge Bitcoin futures positions in a regulated exchange environment,” CME Group’s Global Head of Equity Index and Alternative Investment Products Tim McCourt said, per the announcement.

Bitcoin Futures Market Heating Up

In June 2019, a liquidity report published by CME Group revealed that it had set new records in both open interest and average daily trading volume the month prior. At the time, bitcoin futures hit 13,600 contracts in average daily volumes, worth about $515 million in notional traded value. This marked an increase of about 250 percent over the same period in 2018. Open interests (or contracts left unsettled) climbed up to 4,602; about 80 percent higher than in May 2018.

Things could get interesting for CME Group, as Intercontinental Exchange’s Bakkt gears up to launch its physically settled bitcoin futures on September 23, 2019. Bakkt’s qualified custodian, Bakkt Warehouse, also opened its doors for bitcoin deposits and withdrawals in September 2019. Though Bakkt’s futures offering was delayed beyond expectation over the firm’s difficulty in satisfying the requirements of U.S. regulators, particularly the Commodity Futures Trading Commission (CFTC), which tested the platform back in July 2019. 

But now, the stars seem aligned for the launch of Bakkt’s physical bitcoin futures. The chief difference between Bakkt’s options and that of CME’s lies with the settlement. The CME Group is providing cash settlements, while Bakkt’s contracts would be settled in bitcoin.

The post CME Group to Offer Options on Bitcoin Futures in Q1 2020 appeared first on Bitcoin Magazine.



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Ben Carson defends comments about transgender people and slams press for 'blatant mischaracterizations'

Housing and Urban Development Secretary Ben Carson is defending himself after coming under fire for remarks he made about transgender people, calling the media reports on his comments "blatant mischaracterizations."

In an agencywide email late Friday afternoon, Carson admitted he expressed concern about "big, hairy men" trying to use women's restrooms but added that his comments were taken out of context.

"During a recent meeting with local staff in San Francisco, I made reference to the fact that I had heard from many women’s groups about the difficulty they were having with women’s shelters because sometimes men would claim to be women," he wrote. "This made many of the women feel unsafe, and one of the groups described a situation to me in which ‘big hairy men’ would come in and have to be accepted into the women’s shelter even though it made the women in the facility very uncomfortable."

He continued, "My point was that we have to permit policies that take into consideration the rights of everybody, including those women."

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