# Coin Cong view: do not worry about the value of bitcoin, because no value is not out of futures

It originated in Holland in seventeenth Century and was initially marked with commodities, especially the tulips that were foamed at the time. Today, there are many futures exchanges in the world, such as the Chicago Mercantile Exchange, the Chicago futures exchange, the New York futures exchange, and London, Tokyo, Singapore, South Korea, and Hongkong, China, with their own futures exchanges. There are 4 main exchanges in the mainland of China, namely, the Zhengzhou commodity exchange, the Shanghai futures exchange, the Dalian commodity exchange, and the China Financial Futures Exchange, which we have mentioned before.

So what is futures in the end, in the traditional transaction, we will hand over money, one hand delivery, this is called spot trading. Futures contracts are now signed, but they are traded in the future. That is, for a commodity to price it for the future, signing contracts and trading can be carried on all the time, as long as the trading volume of this futures will always exist.

Since last year Chicago launched bitcoin futures, the market has steadily risen to the highest price in history. Since bitcoin has just appeared in the eyes of the public last year, SEC, CFTC or governments have not realized that this small network encryption currency can lift that big wave. Because of the birth of the bitcoin futures, SEC and CFTC are worried that the market is manipulated, so this year, several futures exchanges that apply for bitcoin futures have been rejected, but they do not explicitly prohibit the futures trading, but are looking for a more consistent way, then in the approval, what is the value of bitcoin in the future, and below we analyze the two issues.

Bitcoin futures, which was launched last year by the Chicago exchange, one of the giant futures exchanges, has been rising since the introduction of bitcoin futures, and the volume of bitcoin trading is also ambitious. In this year’s bear market, according to data statistics, the total volume of the bitcoin transaction in 2018 has exceeded 2 trillion dollars. Futures will survive as long as there is a deal, and the future volume of the small range of digital currency will be bigger, and futures will have more impact on the price of bitcoin. As a short more product, bitcoin futures will make it easier for speculators and greedy people to enter the market.

Why does the bitcoin futures live?

In history, there was an example of the failure of house price futures and commercial real estate index futures. For example, in May of 06, Chicago came up with house price futures. Because the house price category belongs to the newly needed products, it is not always bought and sold, and the trading volume will only fail, although the value of us real estate is 22 trillion and 400 billion dollars, which accounts for 39% of the total family wealth of the United States, and the value is so high and so high! Finally, the result of the failure, as a safe and safe futures product, because of the market instability and manipulation may eventually lead to the failure of the product, so for bitcoin, SEC, CFTC strict audit is still reasonable, or may really take the old way of real estate. Since the introduction of bitcoin futures has been very popular since the launch of the CME on the line of the day, the trading official network directly down, enough to prove that the volume is very large, then some futures come out very hot, some futures hang soon, what are the factors that affect it? Den-nis Carlton, an old professor at the University of Chicago, published several studies in the early 80s of the last century, putting together all kinds of futures that have been innovating since the last 60s, including dead and still active futures, to answer the above questions by analysis. He summed up the 4 key factors to determine the success or failure of futures innovation. First: the uncertainty of the price fluctuation must be large enough. Without a price risk, there will be no success in financial derivatives. Second: the standard must be a large number of individuals, families, or enterprises, and the introduction of futures on it will be widely concerned. Third: the volume of the spot itself must be large. Fourth: the best price of the standard is to cross regional and cross varieties highly related. The above four point is one direction studied by Den-nis Carlton Den-nis Carlton of Chicago professor Den-nis Den-nis Carlton, although cannot say completely correct, but can not say completely correct, although can not say completely correct, but can not completely correct, but can use historical data to prove some standpoints, for instance bitcoin price and futures price, such as bitcoin price and futures, currency coin currency currency currency coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin currency currency currency coin also also limited the coin coin currency coin currency coin currency coin currency coin currency coin coin currency currency coin currency currency currency coin futures are not accidental, but 40 million of global users still have a big gap for the about 4000000000 user of Internet users of the coin of Internet money in the coin coin coin in coin coin coins in coin coin coins in coin coin coins in coin coin coin coin coin coin coins in coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin money bit coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin coin the Internet, like the Internet, is a new species across the region, without the limits of geographical, cultural and national boundaries, and it seems that the success of bitcoin is not an accident. According to metaphysics, “there is two” and “there is two”. Since the bitcoin futures have been introduced, it will not exist only one, because the market is required to compete, so the Nasdaq, Gemini and ICE are promoting their own bitcoin futures products, and even the derivatives of more encrypted currencies. So is there any value in bitcoin?

In fact, the so-called value can be regarded as a cognition of a thing or a product. For example, an artist looks at Van Gogh’s painting at a price and is hard to buy, but if it is a beggar, then a steamed bun can be replaced by a steamed bun, because the values and cognition are different, so Van Gogh’s paintings have two different values. So to bitcoin, it is not how much money it is worth, but a person’s perception of money or goods, such as the exchange of things in ancient times, later to the grain tickets, and then the so-called currency, gold, paper money, commemorative coins, and so on, then why can’t the bitcoin produced by the network be defined as money? The first look at the definition of money: money is just a general equivalent, it does not have value itself, the role of money is to represent value, the function of the currency of the value of the representative comes from people’s custom and belief. So the value of money lies in one’s cognition and the trust behind it (Endorsement), and the other wants to take bitcoin as a general equivalent, and it has the value of circulation. If you do not recognize the value of the currency and the value of the bitcoin, then the bitcoin is of no value. In the final analysis, the value of bitcoin is a person’s recognition and recognition of the equivalent. If all people do not approve of gold, then gold may lose its value for one day, just as you will never wake up a sleeps, and there is always a reason for all things to exist, whether you believe or not, it is there.