Who do you think was buying options 30 years ago? Institutional demand, particularly for non-OTC options, was zero. Countries which have legalized gambling tend not to have large options markets.
There is no convergence. They have always been the same thing. The difference is that you can provide a venue where harm is reduced or one where harm is maximised.
Also, IMO there is a big difference between an open market that allows for price discovery and free trading versus placing bets against the same casino at predetermined prices.
Options markets help farmers and miners decide how much to invest in future production. Ditto the consumer of a commodity faced with an investment decision where the success of the investment depends on continued access to the commodity.
I still can't take him seriously, he's a long time crypto grifter exposing grifting, why should we enable him? I don't follow him very closely but he always positioned himself as a pick me saavy crypto investor not like the others (who were into shitcoins).
skippyboxedhero|4 months ago
There is no convergence. They have always been the same thing. The difference is that you can provide a venue where harm is reduced or one where harm is maximised.
Hasz|4 months ago
https://www.princeton.edu/~ota/disk2/1990/9015/901507.PDF, specifically page 94.
Also, IMO there is a big difference between an open market that allows for price discovery and free trading versus placing bets against the same casino at predetermined prices.
hollerith|4 months ago
mlrtime|4 months ago
See prostitution.
fud101|4 months ago
ngruhn|4 months ago