Bitcoin Forum

www.satoshioption.com (http://www.satoshioption.com)

We're announcing release of the first binary options trading platform designed exclusively for bitcoin - Satoshi Option!

Inspired by SatoshiDICE, to trade you simply send bitcoins to a specific address, and your trade is executed with zero confirmations. Unlike SatoshiDICE, there are no random number generators involved - just real market data. If you are not familiar with what a binary option is, you may know it as a fixed return option, or digital option. Quite simply, a binary options is a financial tool that allows you to predict if the market price of an asset will rise or fall within a certain time period.

Once you send your bitcoins to the address that represents your decision, you simply wait 60 seconds and if you predicted the movement of the asset's price correctly, you will recieve your return almost instantly. Just like in SatoshiDICE.

This is an early beta release, and we're very keen to gain lots of feedback from the Bitcoin community. Please test out our site with small trades (a 0.1 BTC limit is in place for now).

Good luck, and have fun!

OPEN SOURCE BTC PRICE FEED

To allow independent verification of our BTC price feed, the source is available as a standalone Node.js module:
http://pastebin.com/u0PSarFs

Note that due to weighting of exchanges in the underlying mid price driving the feed, your own price may take some time to converge with our price when you first run the module. This process is completely transparent and included in the source above for you to verify.

Please download the source of the pricing module: http://pastebin.com/u0PSarFs

Run this with node.js (npm install all prerequisites), and reply here with if you get the same price point as SatoshiOption or not.

See here (https://bitcointalk.org/index.php?topic=124441.0), as usual.

Well you could argue that all stock market activity is gambling - you take a view on a stock and if you're right, you win! The difference is, predicting the market takes skill, you're not just rolling a dice :)

Thanks MPOE, we've already read your article, and it's a great read.

We're not looking for investment though - at the moment all users need to trust us with is their <=0.1BTC stake, for 60 seconds. And of course, everyone can check the block chain to see we always pay out as promised!

Interesting, you should give options for different time horizons.

Also, you process immediately but do you wait for confirmations before returning?

What is the data source for the real time ticker?

Yeah what data are you using?

I thought it was mtgox bitcoin and then i checked again and it was EUR/USD.

Interested in knowing what data you're using.  See, the time horizon is so short + the fact that I don't know what data you're using.

If you had a longer time it'd be less gambling.

Also, there's some market for BTC/USD CFDs, 1broker closed because they were running a bucket shop and people just traded pennies on gox. You should use the API and actually back the positions.

Thanks for your comments.

We're soon to implement additional durations, and we'd be interested to get your feedback on what might be of interest to you.

We're thinking of adding a few more short term durations, but also some longer ones. For example, 2 minutes, 5 minutes, 15 minutes, 30 minutes, 60 minutes, 3 hours and EOD and EOM.

In the spirit of only building what people want, in the order they want it, we'd be interested to go ahead with whatever is the most popular time period. We'll then be able to factor this in with what we're capable of doing.

Regarding the pricing of the data. We're not using a bid, or ask, or even a last trade price. We're using a custom price that can be validated against any 3rd party source or existing Binary Option website (try 24option.com for example).

Finally, we're soon to offer shares, commodities and indices, if these are of interest to people.

Look forward to hearing your thoughts.

How can you validate a "custom" (made up by you) price against a 3rd party? So please elaborate.

Sorry, you're right, the statement was ambiguous. The data does not originate from one source, so that's what I meant by custom. If you would like to verify our data against a 3rd party, try EUR/USD over at www.24option.com and compare them side by side. Furthermore, if you have live data available with your forex broker, you can do the same thing there. We may differ slightly from your forex broker, only by sub pip fractions.

Good site for anyone who somehow got a clue from other real time site chart. So far 2 wins. Just would like to suggest that other than the instant "pop-a-coin" spam-chain gambling method.Would it be able to have a deposit based method. So options trader can react more instantly with your site and reduce the cost for micro-traders (As i see you deduct 0.0005BTC for my winnings)

Thanks for the feedback :)

A deposit-based method is something we might look at in the future. For now, we'd like to keep things simple and avoid all the complexities of login, holding user's money, etc... But of course, if the demand is there, it can be done.

And yes, we always include the 0.0005BTC miners' fee on winnings. This becomes negligible for larger bets though.

Glad you like the site!

For this type of service (and most others) #bitcoin-otc is old and completely irrelevant.
You results are are transparent and verifiable like ours :)

Always good to see another well behaved bitcoin business :)

A small bit of feedback, adblock screws with your page - Id advise users to disable it.
While I like black myself, its not a good colour for a website.
In chrome, there is a large empty space before the betting table.


welcome to the Satoshi*.com family  ;D ;D ;D

edit: We just gave you a plug on our chat box :)

There are three types of idiots in this world. One says "this is old and therefore good". The other says "this is new and therefore better".

And then there's people like you, going "this thing isn't impressed with me so therefore I am better than it". No baby, you're not. The WoT is still the standard, you're still a wanna-be dice op thing. This situation will continue indefinitely, inasmuch as the only way it can change is by you submitting to it.

Bitcoins won: ∞

Thanks for the support SRoulette, and for the feedback, it's much appreciated!

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

Would you reveal which exchange you use for the rate?

Seriously? Don't give another bullshit as "custom source".

Please explain how the price can update when I don't even see a trade on any of the major exchanges.

Use data from one large exchange.

We're using a combination of exchanges, with smoothing. We'd ideally like to stick to one, but found that there either isn't enough volume or the API isn't reliable enough (Mtgox). If BTC/USD isn't popular, we'll probably switch back to EUR/USD on Monday, given that we have more established data there.

Using multiple exchanges is cool, but smoothing? Details? ::)

Anyone needs to be able to derive the same numbers as you, or it's likely that you're cheating / fudging with the numbers to make people lose more often like other binary options sites.

Yeah, it would be nice if connectivity was better for us regarding mtgox. Similar to our EUR/USD pricing, we will look to pull the price from multiple high quality sources to get a price that is as accurate/recent as possible. This is particularly relevant for BTC/XXX, where trades are less frequent.

Our intention is to be 100% transparent with all appropriate technical specs, especially on details such as these, so we will publish the smoothing spec and the exchanges we use so people can calculate the precise same price should they wish. We're busy on working up a new design, more durations and other instruments at the moment so we'll get onto providing this detail tomorrow at the latest since we recognize it's important.

To provide a brief description, it's basically a weighted average of mids where the weight reflects the recency of the price. Like I said, full disclosure later.
/me gets back to Sublime Editor

That's great! As long as you have a spec that others can reproduce the price, it makes it 'provably fair' and others know that you're not influencing the price displayed (except for trading on the actual market).

Now, for that spec of our BTC/USD pricing:

We currently use a weighted average of mid ((bid+ask)/2) prices from four exchanges: MtGox, Tradehill, Coinbase, and Bitfloor. While a price is considered 'good', it has a weight in the average of 1.

A price is considered good for a 5 second window since it was last updated. When we lose connectivity to an exchange, its price will stop updating and will age. After 5 seconds, the weighting of the price starts to exponentially decay (based on time), until eventually, its effect diminishes completely.

We poll for new prices from the exchanges every second, and use a streaming connection to MtGox.

We have just made a major design release to the Satoshi Option website, that provides significant insight into the features that you will be able to use moving forward. Let us know what you think about it and also, tell us if you like the features that you can clearly see are en route. For example, the design allows us to offer multiple assets over multiple time periods. Based of early user feedback on this forum and elsewhere, options longer than 60 seconds are desirable. Accordingly, we have some in the pipeline.

http://www.satoshiOption.com

Looking forward to your comments/requests/questions.

Second update of this week
- Now offering basic charting functionality (to be improved)
- Trialing the offering of multiple assets, EUR/USD and BTC/USD (subject to change)

Forthcoming updates
- Multiple time periods for the existing live assets

As a reminder, a maximum of 0.1BTC per trade/bet is currently in place.

[deleted]

Bit harsh/hostile...

Nonetheless, point taken. We think it's to do with the Kendo UI and knockout bindings that refresh that part of the page for the live price. When you begin to try and copy the address, it effectively refreshes that part of the page and deselects it.

We'll get that fixed today.

I have enjoyed using the service so far, and have 2 wins and 0 losses :) I agree about the copypasta issue, but it is beatable- I have just been right clicking and viewing source, then copy pasting the address from the source code.

Preety sure tradehill is dead so im not really sure how your using there price

Definition: Racket, A service that is fraudulently offered to solve a problem.

I'm sorry, are we on the financial instruments section of this forum? I didn't think so.

Given that we posted in the GAMBLING section, and our website states "form of gambling on the stock market", I think it's pretty clear that we acknowledge binary options could be considered gambling. In our opinion all forms of trading are a gamble.

Not to mention, your calculation of EV makes no sense given that there are different payouts for different assets, AND soon to be different payouts for different option durations (including options on the end of day price).

Accordingly, we're not convinced your opinion is a useful addition to this thread so we're going to ignore you from hence forth. You just seem full of hatred and have clearly spent too much time with the trolls.

Nope, Tradehill is back. Alive and well :)
https://www.tradehill.com/

Your website is pretty nice.  8)

I hope you continue expanding your offerings. I would be interested in CBOE style options.


Wouldn't BitStamp be a better choice over TradeHill?  ;D

Glad it's easy on the eyes. Always a bonus.

We are looking to expand our offerings on whatever the demand stipulates. CBOE style options are more like traditional options. Compared to European options, they can be exercised at any time, and not JUST at the point of expiry? Obviously for pricing the European style options (like Binary Options) the Black–Scholes model is a good starting point. On the other hand there is no general way to price CBOE style options , assuming they can be exercised at any point. We'll have to look into pricing these according and/or get a price feed from somewhere.

We actually just started work on Bitstamp today. Consider it work in progress!

Third update this week
We have now fixed the copy and paste issue. Thanks for the feedback.

Improved BTC/USD data, x1.5 payout

We've now improved our BTC/USD data feed - our price is now updated with price deltas from each of our supported exchanges as they come in, rather than taking a weighted average. We found that the weighted average would jump between individual exchange prices as connectivity came and went - whereas this method gives a much smoother price.

In terms of exchanges, we've added Bitstamp and Blockchain.info as sources, alongside MtGox, Tradehill, Coinbase, and Bitfloor.

As a result of this change, we've increased the payout for BTC/USD to x1.5 - we'll review this again next week once we have analysed the data.

If anyone would like more info on the specifics, don't hesitate to ask!

Good luck and have fun.

Hello stshiOption .

I am very satisfied about your site, its clean and elegant, and it works pretty well.

But, (maybe a noob question ::))

I made a "bet" (I call trade, whatever it is gambling or not), so I made a winner trade:

1JipWtZ2p77KepaYxJaThPWv3NmRXbgDjy   Up   0.1   1365489243   1365489303   190.19064   190.38775   WIN

How do I receive this?  :o
I see no withdraw button. No place to enter an address. This address is the address I sent the 0.1 btc from? It will sent back? I send it from a MtGox account, it will work? I could wait to see if deposit come along, but maybe some others users have the same question. Thanks and good luck on your business, it looks real good.  8)


I think a explanation about this process will raise the courage of possible traders (or players, whatever).  8)

LOL

Jokerdragon, you send coins from MTGOX wallets?

The winnings have already being sent, you will not get them because you sent it from a shared wallet.

lol.

 :-\  Someone just like to throw rocks everywhere...  :o

https://i.imgur.com/o6S3mav.jpgWhat do you mean by "smoothing"?

I am still waiting an answer about this.  :-\

Hi Jokerdragon, very sorry for the slow reply. We've been working on our product and get held up.

As usual, TradeFortress is absolutely correct. Satoshi Option works in exactly the same way as SatoshiDICE and other popular gambling websites for bitcoin. Specifically, payouts are immediately sent back to the address from which they came as soon as the bet settles. Unfortunately, your winnings have been sent and have left our account. As we all know, bitcoins famously are non-refundable once sent. Mt. Gox are currently enjoying your stake and winnings right now. You would need to contact Mt.Gox directly to see if they can sort you out. Of course, we will do everything we can to help.

We currently don't offer a refund for this type of situation, but perhaps this is something we will look into.

@starik69, sometimes this happens, we don't know why. I guess if you can catch it on a spike you're in luck. As per our update on 30 March, our BTC/USD price updates based on the prices deltas (changes) from the different exchanges that we monitor. We'll look into this further and come back with a more detailed answer as to why this happens.

So this is the game of catching spikes which you produce not knowing how  ;D Good luck with this :P

Not exactly :P The bitcoin price creates them, and when there is a big delta (perhaps when the market price has a wide spread between difference exchanges), this can happen. So no, we're not creating the spikes per se, we're just admitting we don't know why the market behaves like this. The vast majority of the time you see what you see now on the website: a normal price curve.  

New time horizons on the way, and we have a very exciting product en route written in Node JS for ultra fast execution time. Something Mt. Gox don't know anything about (execution time, that is, not Node JS -- although they probably don't know anything about that either).

Thanks for the info. Some info about this condition to bet (bet from your own wallet) should be usefull on your page.

I won and I am still waiting on payment. My address is:    1Jp1m8v............

Did you send your coins from a shared wallet (eg Mt Gox)?

--

Also, please have some longer time ranges, I'll give it a try if you add that :)

Sorry for the delay bluepoodle. There was a problem with our server - your payout has now been sent.


This is something we're working on right now - watch this space! :)

So let's say someone sends more than your minimum bet, what happens to that BTC?

Do you mean more than the maximum bet? In that case, it's returned right back to the sender (minus the miner's fee).

That's odd, mine never came back! Broke my heart.

Can you please provide source code so I can exactly reproduce how you are calculating your price?

It seems like you're fucking with the results or somehow the price went up by a few pips despite the price going down by 20 cents factoring all exchanges you listed (blockchain.info is not an exchange by the way). Might also want to share why you are not counting my offers on Gox at all (price literally stood still), conveniently when I have an active bet that would benefit from that?

OK - can you give us a transaction hash, and we'll look into that for you.


If connectivity was good, I'd have no qualms about releasing the code. The problem is exchange connectivity is less than robust. If a client has our price feed with good connectivity, and our server has bad connectivity, that means a client is ahead of the game, and can make easy money.


Things like this remind me of the huge risk we're taking on by providing binary options on a new and relatively low-liquidity market like Bitcoin. There's no way this kind of trick would work on the traditional forex markets!

The best I can do now is assure you that our pricing feed is completely independent of the betting engine - there's no crosstalk or manipulation going on - but when you're playing against the house, you have every right to question us. We're soon releasing a major update to the product which will turn this on its head.

We are now offering 5 minute options on BTC/USD.

We have just released the first of our new durations. In addition to 60 second options, there are now 5 minute options on BTC/USD. More to come and on more instruments. Specifically, we hope to have the same for EUR/USD shortly, along with longer time periods, such as 30 mins, and 1 hour. We will likely release these for EUR/USD first. Feedback welcome.

 :) ;) :D ;D >:( :( :o 8) ??? ::) :P :-[ :-X :-\ :-* :'(

I strongly advice to only use this for testing or absolute affordable money.
The odds are very bad and the quoting is "Shady". Concerning BTC trading, there is no transparency.
This is worse than any option broker out there i playd on, more safe and fair to play cfd 500:1 without stop.
This experience has cost me 0.3 btc, the next 0.3 btc i spent on 1337day lol

Thanks for your comments sippsnapp. However, they are misleading and unfair.

Firstly, your comments seem to be about binary options in general, rather than Satoshi Option per se. More specifically, you said it is "more safe and fair to play cfd 500:1 without stop." This is nothing to do with Satoshi Option and is only about your opinion regarding binary options. Consider the following: in order to make a profit on the EUR/USD you need to be able to get 6 out of 10 picks correct, or more precisely 58.824% accuracy rate to break even. Your performance merely says that you aren't good enough to achieve 6 out of 10 decisions and manage your bankroll according to account for the times when you are invariably incorrect. For example, if you have 1 BTC to spend, you should not be making 0.1 BTC trades. You should be making ~ 0.03 BTC trades.

Secondly, the odds are +70% return on EUR/USD and the price is provided by a independent third party that can be verified using any number of binary options platforms (e.g. try www.24option.com which is one of the bigger ones). Our payout is inline (perhaps 2% different) with everyone else, which is hardly a premium to pay considering Satoshi Option is the only site that offers binary options where you can pay with bitcoin, from any country.

Finally, regarding your comments about BTC trading being not transparent.....? Every trade you make is publicly viewable in the blockchain. This is easier said than done, so to actually facilitate this we publish every trade in real-time, live, to the site so you can see what the bet amount was, the start price, end price, start time, end time, and so on. There is 100% transparency.

In summary, you were unable to perform at an accuracy level that is profitable and have somehow decided that this is Satoshi Option's fault, rather than your own decision making. Please clarify how Satoshi Option has let you down? For example, have you made trades that were not cashed out when correct? We didn't think so....

In other news, big update coming soon. It will make even sippsnapp very happy!

you need to be able to get 6 out of 10 picks correct

You need to get at least 6 out of 10 picks correct using your rigged data source. I've observed and tested Satoshi Option long enough, there is shenanigans going on and I'm putting my name behind this accusation. Most likely SO is weighting exchanges on the fly if the new price points doesn't match what the bet engine wants. Yes, I'm influencing the underlying market, but SO has no ability to tell if the orders/trades were "mine" or someone else's.

The fact that I'm making this post over sub 1 BTC losses (which are really just a rounding error for the volume I trade on) should show you that this is a serious accusation, instead of sour grapes.

RIGGED - source code or GTFO. If you would "lose money" by making it more transparent, then it's your own problem.

(Also, love my first reply space).

You're wrong, but we respect your position in the community so we're releasing this IP to improve our integrity: http://pastebin.com/u0PSarFs

Once you have had a chance to go through it, please follow-up as it will help our standing within the community.

Thank you for sharing your source. However, what I get from the module does not match what you had on the price.

1 example: 8 cent jump on my side (while I had an active UP bet) only caused a 2 cent jump on Satoshi Option. The trend has being matching, but this is exactly what I am talking about:

4 cent diff (baseline)
Bet: down
7 cent diff (when price >, higher diff benefiting you)
4 cent diff (when price <, higher diff benefits me)
8 cent diff (when price >, higher diff benefiting you)
LOSE

 ::)

Trading closed?

Edit: Take this what you will.

With respect TradeFortress, you said "I've observed and tested Satoshi Option long enough" ... and yet you're commenting on trading being closed on our website, like you're surprised?

If you had actually been observing SO you'd have noticed trading closes regularly, when there are no price movements (this was added after the back of Mt. Gox closing the exchange thus removing most of our liquidity). It has nothing to do with this thread and is completely automated. It's also the same method we use to know when to close the EUR/USD options.

Regarding the code; what we have provided is 'as is', and exactly what we're using to generate the price. This means it's completely transparent. If you're not getting the same price when you implement the same code, then you're not implementing it correctly. Now, with regards to your example, not sure I follow at the moment, but give me some time to digest what you're showing. It sounds like you're telling us we're creating a price that is bad for you. Surely if it's bad for you, it's good for someone else betting on the other side? Either way, whatever you're trying to say (I will do my best to digest it when I have a moment), it's clearly artefactual and not by design.

Given that we've now shared our code, we'd be very happy for you to make a combined price and we'll implement that should it be suitable.

I removed the module wrapper, and ran the code as is via "node pricing.js" without any modifications. The price that I get has a difference ranging from $0.60 to $0.01, and I've noticed the difference get smaller/larger in ways contradictory to active bets. With the example I gave you, if the difference remained constant (at the 4 cent up baseline), the bet would have won (by a few pips), but your data had another 4 cent up (+$0.08) compared to my price.

I have to say that I have not performed a scientific study and these were just my observations. It should be easy to output the difference as a chart, or well, getting the same data running the same script?

Hi,
i dont think the comments where misleading or unfair.
However, partly they where indeed about option trading in general considering the odds if this is industry standard.

1. The quoting is shady because i dont know where you get your quotes from or who is the liquidity provider.
2. Concerning the platform. Just the order execution fact doesn't make it worth to look any further, that n regulation or register fin biz is in place on the first view is acceptable in the bitcoin environment, nevertheless, trust is a huge thing if you want people to trade with moar than beer moneyz. .
3. The odds are indeed bad. If i play any cfd/fut on margin, considered there is a reasonable stop in place and the tp on the equal level, i guess i make 100%, correct me if im wrong.
4. Indeed not sure, but im getting interested in the binary option model, if i just had the facilities :P .
5. Its not fair (to talk about not fair) to offer 1h and below trades in such an environment. It should be in your interst for customers to gain equity. Lets take nfp or other movers into account, i think you agree that 1h and below timeframes for options in this environment paired with the odds is "not optimal" to enhance customer experience.

Indeed there is something that would catch my attention, that is volatility betting on medium - long term timeframes, however, 70% is not acceptable, ill stick to futures meantime.

one question regarding the maximum bet size:
if I send a bet of 0,1 BTC and than another one of 0,1 BTC before the first expires; what will happen?

We only allow one bet per instrument and duration at a time. Your second transaction will be refunded immediately (minus the standard Bitcoin transaction fees).

The site is currently a manipulable gambling site. What's the max bet?
Would be much better as a binary exchange, where you'd trade on anything and users sell contracts at their own prices.

Agreed. I think that would be much better than the current system.

Please remember that the price feed - specifically how it's aggregated and calculated - is public; you can run this yourself to get precisely the same price as we publish. I mentioned this because it proves that the price is independent and obviously, therefore, not manipulated. Check the start of this thread for more information.

However, great minds do often think alike. Your suggestion of a binary exchange is something we've been working on. You've let the cat out of the bag a little bit, but that's OK. We do agree, that this will be a much better option. More updates on this to follow.

However, while we're working on this new system of an exchange similar to what you have described, we have made some updates to the existing website

- The site is now served through SSL, in preparation for future updates where communication with our server should be secure
- We have added more assets: GBP/USD, EUR/GBP, USD/JPY, Gold, Silver, Crude OIl, Nasdaq
- We have updated the maximum bet from 0.1 to 0.25 BTC

Thanks for the continued feedback. Will keep you posted on the exchange.

Some complaints

1. What is the problem with implementing longer term trades? I and most others traders will not trade 60 second intervals gamblers on the other hand probably don't have a problem with it. Back in march you'd been considering implementing longer TF trades it's been almost 3 1/2 months with no improvement.

2. As someone said on the first page. No deposit only per trade based transactions which means fee's per trade. This is not a satoshidice type game it's a trading platform and as such traders should have access to their funds and be able to trade instantly instead of waiting for transactions to go through then have to pay a fee on every single trade. BTW I wouldn't mind paying a withdrawal fee just every trade lol.

3. BTC/USD @ 1.5? 1.5 return is unheard of in the options market a few years back 1.6 was OK but the standard was 1.7 nowadays the standard is 1.75 with most brokers offering 1.75-1.85 variable return throughout the day.

Honestly at this point the mechanics of satiosh option are built just like a satoshidice clone except with trading as the main concept instead of gambling. If you reworked the site a bit this could be huge. It's the only half way decent bitcoin option site BUT the negatives outweigh the positives.

Really like the looks of the site though.

Thanks for the feedback BitCoinPokerBro, very interesting and matches with our developments.


The primary reason is because we're building a fully fledged OTC Options platform and exchange and will depreciate this; we've just done enough to keep it up and maintain some interest while we work on the bigger platform.


Agreed, it's been in the plans for some time - this will be implemented in the new platform, and we might trial the code on the existing website. We'll update this thread when we go live.


We offer fixed 1.7 on fiat currencies, commodities and NASDAQ. The 1.5 in Bitcoin is our choice while we are in beta mode. Regardless, this will become moot with the exchange implementation. I think everyone will love it when they see it.

Check out my NASDAQ stock betting site: https://coinprize.com (https://coinprize.com)

You know about another bitcoin binary option, BTClevels (http://btclevels.com/), aren't you? They've got better design and usability, but I can not analyse game mechanics.
You've got to improve your service, mainly UI and UX to be competitive.

If your going plug your site at least acknowledge that your doing it.

Btw your site is not much better and it's still not complete.

We are proud to say that coinprize.com (http://coinprize.com) is the first and the most popular stock binary option platform using bitcoins, and we are the  most robust and secure binary option platform. Most importantly, coinprize.com (http://coinprize.com) is transparent from start to end, you know how much you gain and where those bitcoins come from (opposite players), and every investment is list on website in the "Recents" section and is public for everyone, and you are anonymous to public as well, simply because we don't offer registration, we don't track players, we use the same concept of satoshidice.com: when you win, we send your bitcoins back to your input address which is the only information we get from bitcoin blockchain.
We are so proud to be the creator of such platform and we are continuously working hard to offer a better platform day by day, step by step.

Thank you for all investors that are already engaged in, thank you very much!
Best,
All members of CoinPrize.com (http://CoinPrize.com)

To know more about it, please visit: https://bitcointalk.org/index.php?topic=274617 (https://bitcointalk.org/index.php?topic=274617)

Hi all!

It has been a long time coming, but we're proud to announce a huge new feature today - on-site wallets. This is the first big step in implementing our binary options exchange.

With our on-site wallet, you deposit funds by transferring money to your own personal address. Your balance is available after two confirmations. You can then trade instantly on site - no more messing around copying addresses.

You can withdraw your balance at any time, with no fees from us. Your balance is auto withdrawn after 24 hours, so your coins are safe even if you lose your unique URL.

We're excited to see what you make of it. Give it a go, and watch this space for the exchange!

The SatoshiOption Team

Is this still the code used to generate the price?
http://pastebin.com/u0PSarFs

I very much doubt it is.

Bitfloor and tradehill don't return prices anymore.
The mtgox webservice connection does not work for me on two different systems and the price would be much higher if included.
Bitstamp bans me after a while.

So that only leaves coinbase working 100% and bitstamp sometimes.

Using coinbase/bitstamp and adding btce seems to match your prices best. If I add mtgox the price gets much higher.

Can we get the updated code please?

You're right - the price feed has since been updated.

Here's the latest code:
http://pastebin.com/0mE1Ev3H

Dear Friend
I have a problem with www.satoshipotion.com
But i can't find your email where i can explain my problem.
Please give me your email .


Thank you in advance

At least offer more than 60 seconds on currency pair, I was interested initially but see all the 60 seconds bet was like ?

wasn't this gamble? ???

And so the thread is in "Bitcoin Forum > Economy > Marketplace > Gambling"  ;)

any clue about when longer option will be opened?

Very soon. We're nearing completion of Satoshi Option Exchange, which will give better odds (set by the market) on longer timeframes.

It's been a over 24 hours since I sent the deposit and mixed up/forgot my onsite wallet url's, Are you going to send back my BTC?

Satoshi Option contacted me via pm stating they would look into the issue. A few hours later all funds were returned and I'm a happy camper. Great support!

Down for maintenance or gone for good?

Can't access the site... darn, was looking forward to this one.

We had a database connectivity issue, now fixed. Bet away friends!

is Gox still influencing prices?

Is this option still working? I made a wallet, refresh, my login url is gone. I won a bet and I am stuck out of my wallet.

Detail is send to you.

Satoshi Option, I send u a pm about I place a bet and the time it co-related to was suppose to win but your block chain did not show up my entry even after 1 Confirmation.

Do check , I send you about this when you was online yesterday but you did not reply me, Hope your site is Legit and not a scam.

I just made a deposit here

https://blockchain.info/tx-index/4902821c91047d957b097e72fade3bde0de9446e1940f8526eaa2b03b9b3f140

But the problem is I buy BTC/USD up, however it not shown up at recent transaction of satoshi option.
I send from my wallet 1Jd5kwe9kR1zab1hPks5awdVGYWzCRS56z

Would it be possible to implement a money line?

The money line would be great for taking screen shots for trade journals and/or posting to trading forums. This would offer up a bit more of a chance for promotion even without a affiliate program. As it is currently there isn't a way to verify a wining trade visually aside from the WIN/LOSE indicator

Hi baokychen,

The transaction you've referenced is an automatic bounce back from our wallet - this happens when trading on that particular option is closed. Always check the site to make sure trading is open before you bet.

(It's possible that trading was closed just as you sent your coins... there's nothing much we can do in this case except apologise for the lost transaction fees)

Satoshi Option

Are you referring to a spark-line style chart that would accompany each bet in the history? (http://en.wikipedia.org/wiki/Sparkline)

Or money-line betting? (http://sportsgambling.about.com/od/sportsgambling101/a/intromoneylines.htm)

would you mind check this address? https://blockchain.info/address/16UJ8ccfi5U7WXQRjXGCdFUZ6zoUF3sneH
I think I sent money there but never played it, you said they should come back in 24h but they didn't

hello stshioption,
on March 28th 2014 I made a series of options bets with satoshioption.com 4 of those bets did not register in the transaction log on the website and therefore were not paid out.

I emailed support@satoshioption.com immediately afterward but have yet to hear a response.

the 4 bets that I made that were sent but not registered on the site are as follows (copy and pasted from the emails I sent for ease, they have since been confirmed by the network)

he 1st bet was on usd/jpy goin up for 0.0339btc the raw transaction details are:
  816761a0a117728d5fa1fb32a85ae8b45ae4b9fb3c122c6de1655bd88f5c15b4: Seen by 3 peers. Appeared in best chain at height 292962, depth 4, work done 86018522483563987740.
     in   [3045022100a37a2583a3ad9fcd5385ee6001bf43ff287a8cd7ba2908bcd1a9e806c960d5ba02202e719cd591a10e642b3f36cb7ed73d989c2c0d454321dced641a1e189373372201] [03b5c234d01ee57cbb5574d220e9d51a3a890e2526d70fee4aa29c79d9af193ba5] / 6243681635fccd4aaff2653c37f67f59263c5025e16d0b26e76ba21f83766e28:1
     out  DUP HASH160 [5521095e117e1e0bfd4bc3bf5fe0b044afc41020] EQUALVERIFY CHECKSIG 0.0339 BTC
     out  DUP HASH160 [7da3b0fecaf7426dd6383d1b0eb753fe13dc9816] EQUALVERIFY CHECKSIG 0.39516032 BTC Spent by 6dd0cdbb91829d5195cdae742d5d55c25fa151a4c2e8e9f67f6c6ac9f2f4f8d8


the 2nd bet was for btc/usd going up in the amount of 0.035btc and the raw transaction details are here:
  aa4439fa7659014a5c18280c8a729993a46cdf24184a77d5ff04ca3d678bcd8a: Seen by 3 peers. Appeared in best chain at height 292963, depth 3, work done 64513891862672990805.
     in   [304402205edbf93eff09ef9d32cc40e7c68c0b9c380c1ab934c286f5aa58debfe3160f19022051b78bab00fa520dfbfa4a6a8e85f85cf6dc74bdfc08d64fb55d8f893b3d7adc01] [03b5c234d01ee57cbb5574d220e9d51a3a890e2526d70fee4aa29c79d9af193ba5] / 187ec45a773255610636349ee6c8c0ddb740bb52ebf5c942505d68a687b68ff8:1
     in   [3045022100e4aeae30735fcb5c33b186fd866c129767113b8e4764dc271eee60750a62bff102205456802c4082392edacd07dca74e81e95bf077fd88cb6d39deafa351dec913e501] [03b5c234d01ee57cbb5574d220e9d51a3a890e2526d70fee4aa29c79d9af193ba5] / 5c20ebdadb4f17ce28b6e6879baace0451839418c90052be0b7754bd6b46ad8b:0
     out  DUP HASH160 [ec04972b9abf333f1eb96fe4555ecfa12dce5aad] EQUALVERIFY CHECKSIG 0.035 BTC
     out  DUP HASH160 [7da3b0fecaf7426dd6383d1b0eb753fe13dc9816] EQUALVERIFY CHECKSIG 0.0212 BTC

the 3rd bet was for 0.035btc on btc/usd down - raw transaction details:   e6fc2c9211242d8ee94a8a0c5422af47199047272bb659102e8af9f5de7d9e53: Seen by 3 peers. Appeared in best chain at height 292984, depth 1, work done 21504630620890996935.
     in   [3045022100849c0e61a7223fb9c2a58c5847c2d99a8bb7682e0f0b2e6874bb44e90ba36c2d022070336a15d50b9a4d4aa86b715037aeb021806647b5db106a3742ab9c6ebe61be01] [03b5c234d01ee57cbb5574d220e9d51a3a890e2526d70fee4aa29c79d9af193ba5] / 6dd0cdbb91829d5195cdae742d5d55c25fa151a4c2e8e9f67f6c6ac9f2f4f8d8:1
     out  DUP HASH160 [ee2ebb3f7c1c7ae4058132472b28516d4c521f9f] EQUALVERIFY CHECKSIG 0.035 BTC
     out  DUP HASH160 [7da3b0fecaf7426dd6383d1b0eb753fe13dc9816] EQUALVERIFY CHECKSIG 0.33696032 BTC Spent by 2296543661b9b6a828215f7c35def82746a6bfb5ca1013de4861a2c89252db3a


the 4th bet was for 0.1btc on btc/usd down - raw transaction details are:
  89b11ca8c8324616f32c5ee979dce606d23167b90a6352213b1e0c3d800c5932: Seen by 3 peers. Pending/unconfirmed.
     in   [304402204583aed3e05e0b24f72a3b56360ca89f0d345fcf4908709b9420e5e6e8db63e3022038266b5d65d4166036f73e0c8f174450157955f6c5822b2d5c4776b8aac8752601] [03b5c234d01ee57cbb5574d220e9d51a3a890e2526d70fee4aa29c79d9af193ba5] / 2296543661b9b6a828215f7c35def82746a6bfb5ca1013de4861a2c89252db3a:1
     out  DUP HASH160 [ee2ebb3f7c1c7ae4058132472b28516d4c521f9f] EQUALVERIFY CHECKSIG 0.1 BTC
     out  DUP HASH160 [7da3b0fecaf7426dd6383d1b0eb753fe13dc9816] EQUALVERIFY CHECKSIG 0.22546032 BTC

could you please help me resolve this matter and return the bitcoins to my wallet address: 1CTKZTSNpiMYcAV7n9rrMZgJKxvG6aS1RM

thank you for your help

As per our email, these have now been refunded:
https://blockchain.info/tx/0841a9949b7d2865983101c61a47f912bc17c566a340d4dea583404a3addfc51
https://blockchain.info/tx/5ce54d8c6b47098bf41bc75db048ecea3e3e4541f5028f89fb3aa6cfcb498a2a



Is this an on-site wallet? There is no record of this address in our database.

where are you from???

Neverland

Dear Satoshi Option users,

Having listened to your feedback over the last few months, we are very happy to announce that we have released a beta version of our betting exchange - Satoshi Option Exchange (SOX).

https://exchange.satoshioption.com/ (https://exchange.satoshioption.com?r=btct)

In the past, our users have suggested that we offer something akin to the CBOE (https://bitcointalk.org/index.php?topic=155609.msg1689551#msg1689551) (Chicago Board Options Exchange). SOX is not too dissimilar to this. In particular, one user suggested that we implement a binary option exchange (https://bitcointalk.org/index.php?topic=155609.msg2532582#msg2532582). This is exactly what we did. Also, we have taken on-board the fact that our users would like a slightly longer option duration (suggested here (https://bitcointalk.org/index.php?topic=155609.msg2679651#msg2679651) and here (https://bitcointalk.org/index.php?topic=155609.msg4948657#msg4948657) - the initial option duration is 1 hour USD/BTC. More will be added based on feedback.

The Satoshi Option Exchange (SOX) provides trading facilities allowing users to place bets on the price of BTC/USD using Bitcoins safely, securely and quickly. As a user, you can make odds for others, or take odds that others set for you. This open-market betting affords users the best possible market returns, since odds are not set by the house, or by a bookmaker. Instead, they are set by other users in real-time. It is a market, so odds will change 'in-play'.

We hope you enjoy this new experience, and look forward to your feedback.

The Satoshi Option Team

why do you bump a scam site thread if you think it is a scam? Last post was in 2014, so no one remembers this site, but when you bump this scam site, I am afraid more people who don't see the current posts will be scammed by the scammer.

I hate bump scam site thread cos there will be silly people scammed by them again.

f*ck your view ... This site is not marked as a scam I wanted to try it out and lost 0.25 ( deposit never arrived) in case there will be sign SCAM I would never do it .... f*ck

It is absolutely your fault.. You tried a site without checking it out first.
didn't you try to find something simple information like these?
- There is a scam accusation thread against this site.
- There are some negative feedback in this thread.
- OP last online was a half year ago...
So, Be SMART next time.. ;D

okay so my concern at this moment is why is that the only currency pair that works at the moment is btc/usd and the rest of the commotities and currencies don't show anything but the name of it faded and the charts don't show up? and when are you able to add the amount of 1 btc as the maximum amount to bid on for either 60 seconds or 5 minute platform? much appreciated.

i played 3 times 1$ X 3 , lose 1 time and win 2
waiting to get my profite and will update the thread !

I’ve sent 3 payments totalling 0.3985 BTC but none of them got credited to satoshioption.com:

0.0995 to the “free wallet” address 16mGKwdZAQ1tf1WfzyvJ7HnLRgF27gVbqd
0.0995 to the “free wallet” address 1Ld1Cu7MHbPgoLF7yQEBCBBsGAYtA9JkRE
0.1995 to the “free wallet” address 1JjvwgWUque3BEy2AhMw6aHBsfSwUQmipe

According to the "Wallet Account FAQ":

"If you do not withdraw your funds they will remain in your Satoshi Option wallet for a maximum of 3 days (72 hours) since your last trade (or, if you have not traded, your last deposit). After this period of time, the funds will automatically return back into the bitcoin address from which they were sent. This way, if you lose/forget your Satoshi Option wallet URL the failsafe will ensure that they funds are returned to you in a timely manner."

No support, no contact form so I've sent a message to the originator of this thread... Let see what will happen...

Still no refund & reply as per promised, even after 72Hrs as per FAQ.

satoshioption may once have been a "reputable" business but sadly turned into a SCAM...

Don't play with them, you won't be able to withdraw your winning bets and the administrator (@stshiOption) won't even bother looking at your claim.

Interestingly, a payment I sent to satoshioption on 2015-11-27 and never got credited to my account has now miraculously moved from the “free wallet” address 1Ld1Cu7MHbPgoLF7yQEBCBBsGAYtA9JkRE (provided by satoshioption) to 1HGzzH3JUni5vbS6mNZiTDqMdXDWYQcU6r (probably the cold storage address of who ever run this SCAM)

satoshioption.com terms & condition: If you do not withdraw your funds they will remain in your Satoshi Option wallet for a maximum of 3 days (72 hours) since your last trade (or, if you have not traded, your last deposit). After this period of time, the funds will automatically return back into the bitcoin address from which they were sent (FALSE). This way, if you lose/forget your Satoshi Option wallet URL the failsafe will ensure that the funds are returned to you in a timely manner (AGAIN FALSE!).

Sent a douzaine email to support@satoshioption.com but never got a reply.

@stshiOption & satoshioption.com = SCAMMER

Sent some btc to place a "trade". "Trade" never appeared on the site (would`ve won *YAY*), no "automatic" refund was given, sent from my blockchain wallet.
What a shame, was really looking forward to this

I am really surprised you actually sent your Bitcoins over when every post in this thread already labelled them a scam. Why didn't you read the reviews first?

However, maybe wait the 72 hours and maybe they will go back to your original BTC address, however looking at the posts above yours, I don't think that will happen.

well tbh I did googled it before using it and couldn`t find anything bad about them really I tried with insignificant amounts worked, then this happened so I obviously stopped using it

Lost $500k trading binary option through binary tilt, couldn't withdraw my investment not to talk of my winnings. I had to hire a refund solution professional from Geminihacks(dot)(com) they recovered $480k (80% of my investment) happy to help other traders going through this. Geminihacks(dot)(com) feel free to reach out.

Really? Have you seen on what year this post was and the people who do make feedbacks above?Im not even sure you did put up some deposits.

Dont bump out this thread with just proposing your obvious recovering service.

Yes really funny how he thinks he will get extra business by spamming his site on this thread which is almost 2-3 years dead.

I think there should be an option where newbie members aren't allowed to bump threads over 90 days old.