Bitcoin Forum

https://coinut.com just added 30-minute binary options. Please join and make 20x profit in 30 minutes.


How it works?
There are CALL options and PUT options.

For CALL options, you spend some money to buy a contract in the hope that the price at the end will be above the strike price you choose. If the final price is above the strike price, you get 0.01 BTC payoff; otherwise, you get nothing and thus lose the original premium you pay.

http://i59.tinypic.com/fk8z21.jpg

The premium you pay mainly depends on the strike price you choose. The higher the strike price, the harder the final price will be above that, and thus the cheaper the premium will be.

So to make 20x profit within 30 minutes, you need to choose a high strike price so you pay very little premium. But your chance of wining is also lower. But that does not mean it is impossible or we are scamming. We are not a scammer.

It's not exactly the same as gambling, because sometimes, you can find that the market may not be able to price the options correctly and you can take advantage of that. Sometimes you just find the price of an option is lower than what it should be. So if you have the skills to analyze, you can make profit consistently. It's not like gambling where you have no control at all.

How to estimate the correct price that it should be? The basic idea is that the correct price should be the probability that it goes above the strike price times 0.01 BTC.

So if right now the price is 236.61, if you select 236.75 as the strike price and you estimate the probability that it goes above 236.75 is 0.2, then the price should be 0.2*0.01 BTC. If you find the market price lower than 0.2*0.01, you can then confidently buy. Maybe you lose one or two times, but if you do this frequently, you will find that you are making money consistently.


PUT options are similar. The difference is that you buy a contract in the hope that the final price will be below the strike price. So the lower the strike price, the less you pay for the contract, and the less likely you will win, but if you win, you win more.

How do we calculate the price index?
We obtain the top bid and ask price ticks from Bitfinex, BTC-e, and Bitstamp every 2 seconds (We will increase the frequency later and if you have better suggestion, please let me know). Suppose they are Bid1, Ask1, Bid2, Ask2, Bid3, and Ask3 respectively for the three exchanges. And then we calculate the index as (Bid1 + Ask1 + Bid2 + Ask2 + Bid3 + Ask3)/6.

This is just leverage? like the okcoin leverage?

So your saying if I put $5 in, i'll make $100...  ::)

I think that is only if you are right in your prediction

It's a nonlinear product. There is no need for leverage. You just need to predict whether it is going to reach a certain price level.

.
so it is like a leverage with stop-profit?

Looks like your market maker quit ... btw, who is your market maker?

And what is the formula for your index?

The market maker is still providing liquidity. You can see from the home page. The price index is an average of Bitfinex, Bitstamp, and BTC-e's most recent bid and ask price ticks.

It's a little similar to that. Let me show you an example. If you buy a CALL contract, the payoff is like the following. At the expiry, if the BTC price is higher than the strike, you will be paid 0.01 BTC; otherwise, if BTC price is lower than the strike, you will get 0 payoff. So, your basically, you just need to predict whether the final price is going to be higher than the strike price or not.

http://i59.tinypic.com/fk8z21.jpg

No leverage can make 20x profit in 20 minute. I dont believed its impossible
Can u post screen shot who can make it only 30 minute.

Only God can do that, or very very super lucky man can make 20x profit in 20 minutes

listen to adolf!
gambling sites like that are too good to be true!

This sounds interesting.  I didn't know you could buy options on the price of bitcoins.  I am a little fuzzy on how this stuff works, so could you please provide a detailed explanation of how this works?  Because I have to be honest it sounds like a scam.  That much money in that little time is impossible.

Also what is the lowest you can use to gamble on there  :P

It's basically gambling. You can make 36x profit in a minute on a roulette table if you pick the right number.

It would help if OP made it clear that it's a risk, not a guaranteed 20x, but I think most people will understand that.

Just a FYI, your site shows a bad reputation according to WoT.

https://www.mywot.com/en/scorecard/coinut.com

Its nice to see a site that finally has Vanilla options instead of just binary.

Will you add any Forex or Commodities pairs in the near future?

It is gambling as much as taking a speculative position on GOOG options is 'gambling.'  It all depends ...

Coinut is making markets for binary and vanilla options on their proprietary btc price average. (Yes ... figure that out.)

Of course they are pushing for people to gamble with their 30-minute options, which is much more akin to gambling than investing, but generates lots of commission right away, because you can 'gamble' every 30 minutes.

I think the OP should focus on continuing to develop the product. A great btc options product will attract lots of positive attention, with almost no further effort, because the product is needed. They've barely gotten started I think, but already have reasonable volume for only being live a matter of days ...

So, are you averaging bid/ask levels, or transactions?
How often is the average recalculated?
The average is over the last 5 minutes? 10 minutes? 30 seconds?
How is it weighted?

The DJIA has a precise formula, and is much more complicated to calculate, but that formula is public information.

You are asking customers to gamble on something, while being vague about what that something is ...

Are you the administrator of CoinUT or do you just promote their company with your signature?

Find it odd that there isn't a dedicated thread

The WoT comment and rating were left in 2011. That's before our site being created.

OK, it seems that you guys are all ver interested in this. Our original thread is here: https://bitcointalk.org/index.php?topic=821889.0
But that thread was written for traders. For you guys, I want to make things simpler here. Please check the first post of this thread. I just updated it.

That makes it a little clearer for me,in first when i seen the subject i touth it was guaranteed 20x win
But now i see it isnt,looks to me like those site upanddown something like that

+1 you dont have to advertise a gambling site as a way to make profit.  People are happy to gamble knowing the house has an edge just because they like to be entertained.

This is just gambling.
There is a very high chance you will lose all your btc before you can gain anything.

It's not exactly the same as gambling, because sometimes, you can find that the market maker may not be able to price the options correctly and you can take advantage of that. So if you have the skills, you can make profit consistently.

where can i learn about it?
is it hard?

Let's take a CALL contract as an example. The basic idea is that the correct price should be the probability that it goes above the strike price times 0.01 BTC.

So if right now the price is 236.61, if you select 236.75 as the strike price and you estimate the probability that it goes above 236.75 is 0.2, then the price should be 0.2*0.01 BTC. If you find the market price lower than 0.2*0.01, you can then confidently buy. Maybe you lose one or two times, but if you do this frequently, you will find that you are making money consistently.

It is not difficult. But it takes a little time to learn the skill. I am sure that after trading a few times, you will know what I am saying.

so basically this is like daytrading?

wait so isnt it just an investor based game as people buy contracts (invest) and either win or loose? in my opinion it should be in investor games

no that is not a investor base games that is binary option trading and that is very simple method of trading just put and call option, if you have little knowledge of bitcoin price if it goes up or low than you can make nice profit from this method but keep in mind that is pure gambling.

I would not say it's PURE gambling as I explained in the first post of this thread.

how long it takes to withdraw? wait 5 hours ago and still processing.. :-\

We do not use hot wallets and manually process all withdrawals in a few batches everyday because as we know nearly all hot wallets in all big sites were hacked. This is safer but also slower.

thanks for reply
will definitely try later

You are wrong about this because you do use hot wallet ofcourse but you are not using automatic withdrawal. Hot wallet is a wallet that is connected to the internet, if you are using cold wallet to keep on send the fund then it will take a lot of time to download the block again.

Our wallet is not connected to the internet. So it is a cold wallet. The machine storing the cold wallet does not need to download the blockchain. It's only used for signing transactions. We have an online machine with a full copy of the blockchain and all the addresses in our cold wallet. But that's only used for monitoring and creating unsigned transactions. I don't know what is wrong here.

I asked this earlier and didn't get a reply. Will you be adding additional pairs like EUR/USD, GOLD, or any other pairs besides BTC ?

Sorry, sometimes I am too busy and may not be able to check every replies. Yes, we may add EUR/USD or GOLD pairs. But we need to find market makers for those pairs first. Otherwise there will be no liquidity.

Thank you for this ... I hope you keep developing the product. Several improvements include:

1. A way to download trading/performance history to excel.
2. A better 'open positions' window - I have too many positions and the window is all but useless for me.
3. Present each customer with their trading performance statistics in some manner.
4. Show volume and open interest in each contract.

**On a daily basis it would be nice if, like all futures exchanges, you reported volume, and open interest by contract. Or allowed customers to see that on a real-time basis. It is very important data, particularly if one is considering a large position ...

I think a better move would be to launch a btc futures contract with small tick size, and apply portfolio margining between futures and vanilla options. This would be a boon to your trading volume and customer interest, I think. (Maybe make them 'options-on-futures' instead of index options, if that is easier.)

All these including 1,2,3, and 4 will probably be improved within one week. Stay tuned.

Any guarantee i get 5 x profit like hyip ponzi ,,? Or just trade in perfect time,,?

Sorry, there is no guarantee.

HYIP Are usually scams. Very low percentages of those actually end up paying out. Here its not a scam but you need to know when to buy or sell, just like stocks.

its not a hyip, its just a game in wich you bet your money and you either win or loose, its doesnt tell that they will pay you guaranteed

Is coinut.com a exchange? when it come to gambling section?
 20x is just possible, just as other gambling game.

its not an exchange its a website where you can buy shares and either win or loose money, its a gambling website

I am interested in this but first I want to know some things. So you are saying that I can lost ALL my money on your method and my money are basically gone? So it is exactly gambling.
And now tell me why your option of 'investing' is better than playing standard casino games? Because I feel I have better chance of winning when playing Dice or BlackJack honestly.

It is an options exchange, like CBOE (Chicago Board Options Exchange). Options are typically traded on stocks, indices, and commodities. Of course there are people who use them as part of an investment strategy, some who trade them profitably, and some who simply gamble with them. OP introduced Coinut on the 'Service Announcements' forum, and maintains that thread. He is introducing it here in the Gambling forum because the product can appeal to gamblers.

Just stick to a casino buddy ... in order to use Coinut one needs some understanding and comfort level with options, which you plainly don't have.

I've added a tutorial for you guys to understand how to trade. Please check https://coinut.com/how-to-trade.

One guy recently made 13 BTC starting with only 0.2 BTC by trading the 30 minute binary options.  :)

We also have a few updates recently.
* We added a referral program. Join and get 10% commission.
* We added volume and open interest.
* Now you can download your history trades as a CSV file.

Binary options are pure gambling.
Have fun!!!

Not exactly. Our binary options are exchange traded. And you can choose different strike prices. Please read the red text in the first post for further explanation.

Well, lets have a look at my results to-date:

Contracts opened & closed: 1213
Contracts closed at a profit: 1104
Contracts closed at a loss; 109
Total net profit: 1.371 btc
Avg profit per closed contract: .00113
Maintenance margin on each contract: .010 btc
Avg. return: 11.3%
Avg holding period: 9 days (my guess)
Total Commissions & fees paid (at .0002/contract): .2426 btc

That doesn't look like the results of a 'gambler.'

In the end binary options are simply an instrument, like a stock or a bond. It is what you DO with them that make them an instrument of gambling, investing, or whatever ...

How did you guys all of a sudden get almost 20000 trades in volume? I assumed it was a mistake but there is alot of open interest for most options.

Their weekly contracts expire on Saturday, so there are lots of customers who start trading their newly liberated margin. Thus you should always see volume rise significantly around Sunday-Monday immediately following expiration.

Nice trades! Also thank you for letting others know.

but you can loose 100% too  :D

Surely that's possible. Trading is risky.

This is just futures with high leverage. You would most likely lose all your capital before you can make 20x in 30 minutes.

Options in general are always high leverage mostly due to the time factor.

I guess you can make alot of money with this when BTC is moving with volume but usually its moves very slow.

Some options, depending on the strike price, can provide high leverage. A deep in-the-money call might not provide any leverage at all. I'm not sure 'time factor' had anything to do with leverage of the position, per se.

The key is that option strategies can be used to profit from any type of market. Options can help you profit from a flat market, if you place your bets accordingly. THAT is the primary utility of options - you can tailor your risk/reward exposure. Leverage can be had via futures or buying margin. Only options allow one to shape their risk/reward profile in the way they do.

Yes, the title 'Make 20x profit in 30 minutes' is somewhat regrettable I think. OP was just trying to get the attention of gamblers, as he was posting in the Gambling sub-forum. Investing with options is a specialty that apparently isn't familiar to many btc junkies.

This sounds like a Ponzi stuff to me but is there any payment proof? Is there anybody here using the option website?

Indamuck has been using the site for quite a while and he has made quite good profit. You can see from his posts in this thread. We are not interested in making it a ponzi. Being a legitimate exchange will go much further.

again with the uninformed spam; you shouldnt judge any "X times profit" as a ponzi just because it seems like a high return; by your logic, is a 10x roll on a dice site a ponzi as well? You have no clue what a binary option is but here you are spamming your signature with no idea of what youre taking about. at least go look up what it is before commonting on it. binary options, which are like simplified forex trades, have zero relationton a ponzi scheme.

Its not a ponzi scheme. Many professionals have been using options in the stock and commodities markets for 50 years. However its not for beginners.

If you can't make money by trading BTC/USD, you will have a hard time making money with the options.

you mean the dice addicts that know nothing besides gambler's fallacy and martingale

well dear sirs this is a very neruvose promisse the urge of people for money its not apreciated for me in here this form its like uncle sam  asking for gambling in a very low certain probability of profit and asking you for picking guns to kill after you get not big invetments in ansiose people for that in here