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Author Topic: What is commodity trading?  (Read 7830 times)

Munareal

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What is commodity trading?
« on: January 22, 2019, 05:42:26 pm »
Commodity trading is an alternative to trading stocks, bonds, and cryptocurrencies. There are different types of commodity trading which are hard, energy, livestock, and agriculture or soft commodity. The hard commodity trading involves trading in precious metals that are mined or extracted like gold, silver, copper, platinum, and energy commodities like oil and natural gas. Commodities such as wheat, sugar, corn, and cocoa are known as soft commodities or agriculture. Unlike hard commodities, they are products that are grown, rather than extracted or mined.

What do you think of commodity trading?
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What is commodity trading?
« on: January 22, 2019, 05:42:26 pm »


Harihmawati

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Re: What is commodity trading?
« Reply #1 on: February 18, 2019, 03:01:06 pm »
commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemicals and computer memory. There are can be bought and sold.

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Re: What is commodity trading?
« Reply #1 on: February 18, 2019, 03:01:06 pm »

owej90

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Re: What is commodity trading?
« Reply #2 on: August 22, 2019, 01:49:08 am »
Commodity trading is an alternative to trading stocks, bonds, and cryptocurrencies. There are different types of commodity trading which are hard, energy, livestock, and agriculture or soft commodity. The hard commodity trading involves trading in precious metals that are mined or extracted like gold, silver, copper, platinum, and energy commodities like oil and natural gas. Commodities such as wheat, sugar, corn, and cocoa are known as soft commodities or agriculture. Unlike hard commodities, they are products that are grown, rather than extracted or mined.

What do you think of commodity trading?
What do you think about commodity-backed cryptocurrencies?

Trading cryptos that represent commodities is considered commodity trading?

owej90

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Re: What is commodity trading?
« Reply #3 on: September 03, 2019, 11:28:32 am »
I think I found the answer to my question
In the USA, cryptocurrencies are considered commodities because there is futures trading in cryptocurrencies.
I can't follow this justification, but the point is, in the USA cryptos - not only commodity-backed cryptos, but all cryptos - are considered commodities.

Thank you to forum member CebuBitcoin for having pointed to this article

US Judge Rules to Bring Alleged Cryptocurrency Scam Under CFTC Oversight

A U.S. federal district judge has ruled that an allegedly fraudulent crypto token meets the definition of a commodity, bringing the case under regulators’ purview, Finance Feeds reports September 27.

Judge Rya W. Zobel of the Massachusetts District Court ruled Sept. 25 against a motion to dismiss a case that had been launched by the Commodity Futures Trading Commission (CFTC) against an allegedly fraudulent crypto scheme known as “My Big Coin Pay Inc.,” reported to have been based in the state of Nevada.

Readmore: https://cointelegraph.com/news/us-judge-rules-to-bring-alleged-cryptocurrency-scam-under-cftc-oversight

The salient passage is this:
“Here, the amended complaint alleges that My Big Coin is a virtual currency and it is undisputed that there is futures trading in virtual currencies (specifically involving Bitcoin). That is sufficient, especially at the pleading stage, for plaintiff to allege that My Big Coin is a ‘commodity’ under the Act.”


 

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