When did beer trading morph into futures contracts?

Well, if you use physical beers, then you avoid the need for an immediately-appraisable market for the beer. In that case, you short Bolt Cutter, I give you Bolt Cutter, and you trade it plus KBS for King Henry. Then, near the conclusion of our contract, you owe me a bolt cutter, which you can now get for shelf turds. So, you net out + King Henry, minus shelf tires. But of course there are still transaction costs.

 

Nice, I didn't consider shorting beer and also using beer as payment for any profits. Do we give the IRS 4oz?

 

I hate seeing all the pre-trades, especially for beers that aren't even bought yet. It's one thing to pre-trade for someones Bruery HS exclusive beers that are purchased, but not ready for pickup, but all the pre-trades for the AleSmith stuff is kind of sad.

Just my $.02.

 

Carried interest rates, so .15 x 12 oz = 1.8oz

The IRS gets paid in KH units, of course. Could be King Timothy units, but yeah.

 

How do you pre-trade beer you've already purchased? That's just a regular trade.

 

Maybe a Bruery Reserve Society member waiting for their trustee to ship the beers they're owed? Maybe when those beers are already promised to them but haven't been issued yet?