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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.
Pepresenting a platform for trade of mining
Just a day agothe representatives from various media from Internet magazines to spokensources have attacked Jeffrey Smith with questions on the basic resource of theenterprise – the CEO.IX – representinga platform for trade of mining power. Just now the most recent and, allow us touse the term “fresh”, release was able to surpass any news provided by otherparties.
The CEX.IO well known as a Bitcoin Commodity Exchange or generally a platform fortrade of capacities, leading the market, has united or shared credentials with GHash.IO mining pool. To express the idea clearly, the platform is ready notjust to provide trade services, but to allow the mining of Bitcoin at the sametime. The all-pervading capabilities are added by the acceptance of otheralternative coins – Litecoin and Namecoin.
As it wasmentioned in the introduction, the trade and sales of futures contracts of GHSare based on commonly known principles. In general, futures trade is completeon assets that have a particular quality or quantity between the two sides ofthe 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 agreedby both parties.
The CEX.IO isnow a platform featuring not only trade of existing capacities, but alsofutures. Traders on CEX.IO are now able to trade futures contracts on GHS. Thetypes 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 allowtraders to hedge against risk in certain investments, speculate on the futurevalue of hashing power provided by Ghash.IO and purchase GHS on the lowestpossible price on the market.
The attractiveconditions of the introduced option will definitely attract new traders or makethe present participants switch to the offered source. The GHS future contractwill be available for 2 Ph/s in total. The functionality and basic principlesare already known, as the page offers for dome time similar activities ensuredby BitFury, a cryptocurrency mining hardware producer.
Concluding formthe initial conditions of trade, the future contracts will be available till aparticular date. For the FHA type that will offer “bets on the value of certainamount of hashing power from the Ghash.io the deadline is the 26thof April, 00:00 GMT”. The FHA contracts will be halted onthe 25th of April of 2014 at 23:59 to perform the calculations.
The descriptionmight confuse the experienced users, as there is no analogue opportunity on theweb provided by the competitors. The investors have to be ready to accept thefact that the profit and income through block rewards will exist only when thecontract has expired. For example, the mentioned term – the 26th ofApril - is the day, when users will be able to gain some profit from theacquired power.
To express theidea plainly – the offered futures contracts are “bets on the future of acertain amount of hashing power” as it is stated in the press release providedby Jeffrey Smith, CEO of the CEX.IO. As long the contract has power and has notexpired, owners are not in charge of a particular commodity.
· The Coin Telegraph on the CEO.IX
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