Janet Yellen, Bitcoin, Simpson discussed on Bloomberg Surveillance

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The legitimacy of the futures marketic cetera even some major firms running around trying to figure out what to do with a beast do you see an economic foundation not as a currency but even as an asset class to bitcoin but why we already legitimised that i've been after class even janet yellen has called it all get him after we've always wanted an alternative to fee are currently you know for some of with goal for others has the art an anybody that living in a country that has capital controls like china uh or some other parts of the planet it's going to be a practice boots to something like this sequence hoop easily easily portable uh so a bitcoin or anything is really it's really dependent on the ecosystem that of course it on the uh facebook my faith probably a good analogy facebook uh developing ecosystem and people use that therefore it had value where it's my space literally disappear because nobody used it uh so right now that's what we go with this comoran pipe discovery right now let me ask you simpson related to the futures contract you brought up the futures contract and we've got a post december rao that amounts to about fifty percent fifty percent on the spot price i understand on the futures contract the margin is something in the vicinity of forty off percent what does it mean when you only put fortysomething percent down and the spot price crashes 50 percent in literally a matter of weeks did they need to put the margin up on some of these future contracts to really account for the same volatility in the spot price our big what we do i think i put a great quite ruppert confusing contracts the margin the only five percent uh birther bitcoin they came in at forty maybe they're going to have to go to walk off a higher number he says there are actually a fairly decent waiter trade uh bitcoin because nobody ever really defaulted on a few think contract yet people have had had bitcoin exchanges uh hacked into raise.

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