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Making Bank With Hashrate Bitcoin Futures!


Hashrate Bitcoin Futures Introduced – Another Profit-Making Opportunity?

People interested in cryptocurrency and Bitcoin trading now have a brand new tool they can use to generate profit. FTX, a derivatives trading platform, announced the launch of a futures product that tracks not Bitcoin’s price, but rather Bitcoin’s hash rate.

What are Hashrate Futures?

Hashrate futures are contracts that track Bitcoin’s average mining difficulty each day from the start to the end of each quarter.
As measuring hash rate is virtually impossible, the tracking parameter used here is the mining difficulty. However, as difficulty adjustments attempt to maintain 10-minute block times, the average hash rate will be proportional to the average difficulty in the long run.
Hash rate is the computing power dedicated to the Bitcoin network. The more hash rate Bitcoin has, the more secure the network is. The mining difficulty, on the other hand, is the complexity of the equations which validate Bitcoin transactions.
Both the hash rate and the mining difficulty were hovering near the all-time highs, but the hash rate slowly tailed off after the halving.

How does this affect the market?

The introduction of a new crypto-related financial product is almost always a good thing, mostly because it attracts more investment. On top of that, crypto enthusiasts can use their knowledge to leverage one more thing and create a profit-making opportunity for themselves. However, whether this financial product will be net-positive, net-negative, or neutral for the crypto community, only time will tell.