Ghosts are arguing over the cryptocurrency Bitcoin Cash (BCH). While some see better digital money in the hard fork of Bitcoin, others see only a bad copy of Bitcoins in the cryptocurrency. BitMEX CEO Arthur Hayes probably belongs to the last group.Although his BitMEX derivative platform has recently started offering futures on Bitcoin Cash, Hayes recently referred to the cryptocurrency as Shitcoin.
Bitcoin Cash: Another Shitcoin that is live?
Our article was triggered by an announcement from BitMEX itself. At the beginning of the month, the platform announced that it would soon be making BCH / USD contracts available to customers.
“This is the next quanto contract [note: quanto is a type of derivative] that will be launched on BitMEX. BCH / USD thus follows the previous launch of ETHUSD and XRPUSD. We offer our customers further trading options and concepts to expand their strategies.”
The contract itself can be traded up to 25 times with one lever. Interesting with this type of derivative is the possibility that the margin itself is stored in XBT (i.e. BTC). This means traders can bet long or short on the BCH / USD pair without having to own BCH or USD.