Just a day ago the representatives from various media from Internet magazines to spoken sources have attacked Jeffrey Smith with questions on the basic resource of the enterprise – the CEO.IX – representing a platform for trade of mining power. Just now the most recent and, allow us to use the term “fresh”, release was able to surpass any news provided by other parties.
The CEX.IO well known as a Bitcoin Commodity Exchange or generally a platform for trade of capacities, leading the market, has united or shared credentials with GHash.IO mining pool. To express the idea clearly, the platform is ready not just to provide trade services, but to allow the mining of Bitcoin at the same time. The all-pervading capabilities are added by the acceptance of other alternative coins – Litecoin and Namecoin.
The Principles of the Innovative Approach
As it was mentioned in the introduction, the trade and sales of futures contracts of GHS are based on commonly known principles. In general, futures trade is complete on assets that have a particular quality or quantity between the two sides of the contract, which agree on the price now, at the present time of the contract, but the payment occurs in the future. Actually, it happens on the date agreed by both parties.
The CEX.IO is now a platform featuring not only trade of existing capacities, but also futures. Traders on CEX.IO are now able to trade futures contracts on GHS. The types that are going to be featured are FHA and FHM. FHA is for contracts that expire in April, while FHM contracts will expire in May. These futures contracts will allow traders to hedge against risk in certain investments, speculate on the future value of hashing power provided by Ghash.IO and purchase GHS on the lowest possible price on the market.
The attractive conditions of the introduced option will definitely attract new traders or make the present participants switch to the offered source. The GHS future contract will be available for 2 Ph/s in total. The functionality and basic principles are already known, as the page offers for dome time similar activities ensured by BitFury, a cryptocurrency mining hardware producer.
Terms and Conditions
Concluding form the initial conditions of trade, the future contracts will be available till a particular date. For the FHA type that will offer “bets on the value of certain amount of hashing power from the Ghash.io the deadline is the 26th of April, 00:00 GMT”. The FHA contracts will be halted on the 25th of April of 2014 at 23:59 to perform the calculations.
The description might confuse the experienced users, as there is no analogue opportunity on the web provided by the competitors. The investors have to be ready to accept the fact that the profit and income through block rewards will exist only when the contract has expired. For example, the mentioned term – the 26th of April - is the day, when users will be able to gain some profit from the acquired power.
To express the idea plainly – the offered futures contracts are “bets on the future of a certain amount of hashing power” as it is stated in the press release provided by Jeffrey Smith, CEO of the CEX.IO. As long the contract has power and has not expired, owners are not in charge of a particular commodity.
Links:
· Cointelegraph on the CEO.IX
· CEX.IO
· GHash.IO