quote:Originally posted by g-man:quote:Originally posted by vinole:
Bitcoin futures start trading on the CBOE at 6PM ET tonight. I think a lot of the run up in the last week is tied to this as a sign of investment legitimacy. You can now trade without actually having a digital wallet. On the flip side, it opens up the ability to bet on downward moves. Some believe the latter will destroy the price. We'll see. Currently at $15,115 as I type this. Many brokers are not allowing retail trades at all or no short positions and 50% margins.
as you can't "borrow" a bit coin,
by definition, all bit coin contracts will technically be "naked shorts" which is a big SEC nono.
Brokers will be very hestitant to hold bitcoins in their own pockets to cover borrowing and shorts for their clients.
as such, you probably need to be an accredited investor to trade bit coin on the CBOE and then find a broker to do the trade with.
cboe is futures.