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Title: The smile patrol Post by: reeses on July 17, 2012, 09:35:28 PM x
Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 09:42:40 PM Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market. Either way these next 6 weeks should be interesting in bitcoin price terms. I say at the end of August we will have hit $12-$15/bitcoin. I'll sell a bunch to you today for $11. All that profit will be yours! Where did I say I wanted to buy at $11? How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you. Deal? Chicken? Troll? Chicken Troll? ;D ;D ;D ;D ;D Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: adamstgBit on July 17, 2012, 09:49:16 PM Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market. Either way these next 6 weeks should be interesting in bitcoin price terms. I say at the end of August we will have hit $12-$15/bitcoin. I'll sell a bunch to you today for $11. All that profit will be yours! Where did I say I wanted to buy at $11? How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you. Deal? Chicken? Troll? Chicken Troll? ;D ;D ;D ;D ;D I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. and that's how bitcoin futures were born :D Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 09:51:34 PM I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. Deal. I will buy them on Halloween from you and yes we will use an escrow. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 09:56:14 PM Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured... $137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not. Talk to litecoin and bitcoin.me ...they will tell you I will honor the deal 100%. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 09:57:58 PM Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured... $137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not. One more thing. At the moment I don't have cash. So you will have to wait until October 31st just like I have to wait until then. And NO they are not free. They will be $11 each per our deal. Or you can back out and be labeled as a bird the people eat. ;D ;D ;D Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: Raoul Duke on July 17, 2012, 09:58:14 PM Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured... $137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not. Talk to litecoin and bitcoin.me ...they will tell you I will honor the deal 100%. Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured... $137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not. One more thing. At the moment I don't have cash. So you will have to wait until October 31st just like I have to wait until then. And NO they are not free. They will be $11 each per our deal. That's not how it works... You pay up 25% now and if you don't buy it for $11-25%/BTC on the given date, bye bye 25%. There is no honor in this deal, just numbers. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 10:22:24 PM Until October then, I suppose. ;D Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: myrkul on July 17, 2012, 10:25:29 PM I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. Deal. I will buy them on Halloween from you and yes we will use an escrow.Until October then, I suppose. ;D Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.Quoted to ensure posterity. Consider this to be contract witnessed. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 10:29:14 PM I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. Deal. I will buy them on Halloween from you and yes we will use an escrow.Until October then, I suppose. ;D Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.Quoted to ensure posterity. Consider this to be contract witnessed. +1 Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 11:39:36 PM Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market. Either way these next 6 weeks should be interesting in bitcoin price terms. I say at the end of August we will have hit $12-$15/bitcoin. I'll sell a bunch to you today for $11. All that profit will be yours! Where did I say I wanted to buy at $11? How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you. Deal? Chicken? Troll? Chicken Troll? ;D ;D ;D ;D ;D I see that the noble jcpham took you up on your offer. Room enough for your original friend? Why be chickenshit over only 50btc, though? Raise the stakes. How about 100? 1000? 10,000? Name your number, and I'll take you to the boards. :) Aww you want in on the deal too? Okay here I'll buy 0.01 btc from you at $11/btc. Sound good? LOL Edit: On Oct 31st, 2012 Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 11:42:12 PM I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. Deal. I will buy them on Halloween from you and yes we will use an escrow.Until October then, I suppose. ;D Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.Quoted to ensure posterity. Consider this to be contract witnessed. +1 I mean, AFAIK someone owes me 550 bucks it seems. I think my point on futures didn't go un-noticed. But anyways, you guys have fun. I'd would've enjoyed the cash now to have to play with, I'm sure there is a wikipedia link or something that explains why I wanted the money now. All in the future man...be patient it will come. ;D ;D ;D EDIT: If I gave you the money now it would be no fun because I could easily buy bitcoins for less than $9 each right now. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 11:46:30 PM Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market. Either way these next 6 weeks should be interesting in bitcoin price terms. I say at the end of August we will have hit $12-$15/bitcoin. I'll sell a bunch to you today for $11. All that profit will be yours! Where did I say I wanted to buy at $11? How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you. Deal? Chicken? Troll? Chicken Troll? ;D ;D ;D ;D ;D I see that the noble jcpham took you up on your offer. Room enough for your original friend? Why be chickenshit over only 50btc, though? Raise the stakes. How about 100? 1000? 10,000? Name your number, and I'll take you to the boards. :) Aww you want in on the deal too? Okay here I'll buy 0.01 btc from you at $11/btc. Sound good? LOL Edit: On Oct 31st, 2012 I figured you were all talk, troll, both about your prediction and your "pile of coins". No commitment to what comes out of your...keyboard. So shameful. I did stick to my deal. But then again you were too slow. Someone took me up on the offer. First come first serve, come after...get trolled. ;D ;D ;D Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 11:49:45 PM Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market. Either way these next 6 weeks should be interesting in bitcoin price terms. I say at the end of August we will have hit $12-$15/bitcoin. I'll sell a bunch to you today for $11. All that profit will be yours! Where did I say I wanted to buy at $11? How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you. Deal? Chicken? Troll? Chicken Troll? ;D ;D ;D ;D ;D I see that the noble jcpham took you up on your offer. Room enough for your original friend? Why be chickenshit over only 50btc, though? Raise the stakes. How about 100? 1000? 10,000? Name your number, and I'll take you to the boards. :) Aww you want in on the deal too? Okay here I'll buy 0.01 btc from you at $11/btc. Sound good? LOL Edit: On Oct 31st, 2012 I figured you were all talk, troll, both about your prediction and your "pile of coins". No commitment to what comes out of your...keyboard. So shameful. I did stick to my deal. But then again you were too slow. Someone took me up on the offer. First come first serve, come after...get trolled. ;D ;D ;D I assumed you meant me when you did your "from you" (emphasis yours) in reply to me. But if you can't afford 1,000 btc of what you think is a sure bet, I understand. We can't all be good at math. Not all of us "gamble" to make millions. Some of us do it for the mere fun of it, hence the smaller amount. Problem? Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 17, 2012, 11:53:56 PM Not all of us "gamble" to make millions. Some of us do it for the mere fun of it, hence the smaller amount. Problem? No problem. Just making it clear you make claims and pronouncements even you don't believe. And you're a coward. I didn't say 100,000 coins because I thought it was a bit excessive to fleece you that thoroughly. Plus, you don't have it. :( Oh that would explain why I'm taking up someone on a 50btc futures exchange on 10/31/2012? Aww you have to resort to name calling? "coward"? Good job you just showed me your immaturity right there. That's cool. I don't cry when I don't get my way like you. Duh I don't have 100k btc...you could talk to pirate though ;) Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 18, 2012, 12:20:03 AM I hate that the thread turned sour as well. I'd echo reeses comments and say that math is in my favor, any time I can sell a couple coins for 2x, 3x, maybe 11x what it cost me, I win. If I got some money upfront for it, that's a bonus as I now have your money in my possession to do with as I please. We won't even go into mined coins, just set that notion aside and look at the financials of the deal. I understand. I'm doing this more for lulz than anything else. Perhaps some profit too. Who knows where the price will be at that point. ;D ;D ;D either way i'm happy! Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: BTCurious on July 18, 2012, 02:57:26 PM I hate that the thread turned sour as well. I'd echo reeses comments and say that math is in my favor, any time I can sell a couple coins for 2x, 3x, maybe 11x what it cost me, I win. If I got some money upfront for it, that's a bonus as I now have your money in my possession to do with as I please. We won't even go into mined coins, just set that notion aside and look at the financials of the deal. Actually, there's a bit more detail to it than that. It's called the time value of money, and it basically means having money now is worth more than having money in the future, because right now you can make more money with that money.So yes, while you, right now, can buy coins for $9, it also means your coins are locked until the end of October, and can't be used to make more money. It's very possible that you could have made more than this $2 per coin with it if you didn't go into this trade, perhaps even by simply waiting for the price to rise. So what smoothie does actually makes sense, assuming he's certain enough about the price being over $11 then. Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: BTCurious on July 18, 2012, 03:47:51 PM While I agree that I'm probably loosing out in potential profit, an $11 /per sale is profitable to me. Always will be, from this point forward, nothing can change it. He's laughing, I'm not; he says it is a joke. I say it isn't a joke. I'm EXTRA willing to take the loss now for his money, NOW. He's laughing because he doesn't know how to put his stance in words properly. His position is easily defensible. It might be that this is a good deal for both of you, it depends a lot on your personal time value of money.Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: thezerg on July 18, 2012, 04:02:47 PM While I agree that I'm probably loosing out in potential profit, an $11 /per sale is profitable to me. Always will be, from this point forward, nothing can change it. He's laughing, I'm not; he says it is a joke. I say it isn't a joke. I'm EXTRA willing to take the loss now for his money, NOW. He's laughing because he doesn't know how to put his stance in words properly. His position is easily defensible. It might be that this is a good deal for both of you, it depends a lot on your personal time value of money.If his position was not defensible there would be no stock options or futures market. Thinking you got the best of the deal due to its structure alone is myopic. You essentially just sold a covered call. Since you are making a profit at the call price its a very good strategy especially when the market is flat or down, and I think you got a GREAT price for the sale of this option. But if a BTC is worth 100 bucks in October you will be less happy with your call at 11. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 18, 2012, 04:50:57 PM I'd also like to point out that without some type collateral/principle/earnest now, it's pretty difficult to consider it any type of futures deal. My unique situation allows me to "put my money where my mouth is" and profit, regardless. Now that I've opened my mouth, I'll pay 50BTC just to make it go away, frankly. I'd like to keep up my good reputation because it actually means something to me and I'm not here to talk shit and fuck about. I made the deal, provided counter terms, they were accepted, a renege was made on the 25%. I'm still willing to send 50btc to someone if they want to escrow, you can work out the cash with smoothie. 25% is what it takes for what is most likely one hell of a good deal, today. The rocket appears to be taking off so to speak, yet I'm only still looking for $137.50 in escrow, which would, in fact secure coins in October, at 11$ /per. The price was 1$ less when I said it yesterday. Whatever. Troll or participate, it doesn't matter to me. :) I'll throw it in an Armory wallet if it really makes you feel better. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: thezerg on July 18, 2012, 05:29:58 PM I'd also like to point out that without some type collateral/principle/earnest now, it's pretty difficult to consider it any type of futures deal. My unique situation allows me to "put my money where my mouth is" and profit, regardless. Now that I've opened my mouth, I'll pay 50BTC just to make it go away, frankly. I'd like to keep up my good reputation because it actually means something to me and I'm not here to talk shit and fuck about. I made the deal, provided counter terms, they were accepted, a renege was made on the 25%. I'm still willing to send 50btc to someone if they want to escrow, you can work out the cash with smoothie. 25% is what it takes for what is most likely one hell of a good deal, today. The rocket appears to be taking off so to speak, yet I'm only still looking for $137.50 in escrow, which would, in fact secure coins in October, at 11$ /per. The price was 1$ less when I said it yesterday. Whatever. Troll or participate, it doesn't matter to me. :) Jcpham, I don't read it that way: I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like. Deal. I will buy them on Halloween from you and yes we will use an escrow. You should have said, "you must pay in full or 25% now". But you said "if you'd like" -- well I guess he didn't like :-). You are lucky he's not being a jerk and trying to hold you to the contract as stated. Of course as originally stated there was also no back out clause. It was basically a crazy trade -- happening today with a settle date in October. Why don't you put up a real call option with a reasonable fee, 6 month span (exercisable at ANY TIME during 6 months) and see if you get any takers? Personally I'd be tempted at a much lower rate but very afraid of counterparty risk (the escrow party). Your risk is relatively low, if the call is not exercised and the escrow steals the BTC, you gain the call cost and lose final price*quantity in USD. But if BTC does rocket the escrow could end up holding a LOT of money in BTC which would be a LOT more tempting to disappear with. Too bad the double signed acts are not avail yet! So you'd have to figure that out... Anyway, if you are a miner looking to lock in a price to reduce uncertainty (similar to all producers of goods the world over), then think about it and post a real offer. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 18, 2012, 07:28:47 PM Here I will do you one better:
If I back out of the deal (which I won't). The mods of this forum have every right to permanently ban me from this forum. Deal is on for 10/31/2012. This is more of an experiment to see how I do and how you do in the trade 3.5 months from now. Win or lose it will be fun for me. ;D ;D ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 18, 2012, 07:51:48 PM If I back out of the deal (which I won't). The mods of this forum have every right to permanently ban me from this forum. They already do. The proper thing to do would be to "ban yourself" and leave forever, never creating another account. Well then I guess everything is set then. Futures here we come! Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: imsaguy on July 18, 2012, 08:17:10 PM And if it's at USD100 on or near Halloween, I'll be selling enough to make it not worth nearly that much. ::) gotta pay for your van somehow http://i44.photobucket.com/albums/f6/bratpirate/bc39a1e7.jpg Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: smoothie on July 18, 2012, 08:20:45 PM If his position was not defensible there would be no stock options or futures market. Thinking you got the best of the deal due to its structure alone is myopic. You essentially just sold a covered call. Since you are making a profit at the call price its a very good strategy especially when the market is flat or down, and I think you got a GREAT price for the sale of this option. But if a BTC is worth 100 bucks in October you will be less happy with your call at 11. That's why 50btc is a boringly small amount to put on the line. jcpham will be ecstatic if a BTC is at USD100 in October because 50BTC won't be material. So he has to sell 50 at a discount. It's not as if he won't be skipping at the Sum(holdings) - 50 being worth USD100 each. It's not as big a potential "missed opportunity" as you may think. Myopia is definitely not the problem. Assuming a reasonable IRR, the NPV of $550 - cost basis in three months is still worth a couple posts on a thread. Maybe not the pain of reading smoothie's trolling, but that's another issue. And if it's at USD100 on or near Halloween, I'll be selling enough to make it not worth nearly that much. ::) Butt hurt? lol.... Dude by all means PLEASE push the price down (if you can) to sub $11 prior to Halloween or near there. I'll thank you for the gift then. ;D ;D ;D Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: OmegaNemesis28 on July 18, 2012, 08:34:36 PM I hate that the thread turned sour as well. I'd echo reeses comments and say that math is in my favor, any time I can sell a couple coins for 2x, 3x, maybe 11x what it cost me, I win. If I got some money upfront for it, that's a bonus as I now have your money in my possession to do with as I please. We won't even go into mined coins, just set that notion aside and look at the financials of the deal. Actually, there's a bit more detail to it than that. It's called the time value of money, and it basically means having money now is worth more than having money in the future, because right now you can make more money with that money.So yes, while you, right now, can buy coins for $9, it also means your coins are locked until the end of October, and can't be used to make more money. It's very possible that you could have made more than this $2 per coin with it if you didn't go into this trade, perhaps even by simply waiting for the price to rise. So what smoothie does actually makes sense, assuming he's certain enough about the price being over $11 then. While I agree that I'm probably loosing out in potential profit, an $11 /per sale is profitable to me. Always will be, from this point forward, nothing can change it. He's laughing, I'm not; he says it is a joke. I say it isn't a joke. I'm EXTRA willing to take the loss now for his money, NOW. I do agree that $11 lock in this moment is great. However, if it were set for next month or early September would be better. Because, looking at Bitcoin, it was on a steady incline up until the other day when it shot to $9. Even after that fiasco, it went back to $9 from 8 and seems to be returning to what it was doing. We could see $10 by the end of week, if not the next. Obviously, anything can happen that can derail this incline but $11 in October is risky business. If you've got the 50 coin, why not I suppose though :p Title: Re: #bitcoin IRC log: A pirate leads a flock of sheep over a cliff. Post by: thezerg on July 18, 2012, 08:35:25 PM That's why 50btc is a boringly small amount to put on the line. jcpham will be ecstatic if a BTC is at USD100 in October because 50BTC won't be material. So he has to sell 50 at a discount. It's not as if he won't be skipping at the Sum(holdings) - 50 being worth USD100 each. Yes, so as I posted previously wondering if he or some other early adopter with more coins then cash really does create an instrument with some significant volume, a reasonable option cost, etc it may be well received. It's not as big a potential "missed opportunity" as you may think. Myopia is definitely not the problem. Assuming a reasonable IRR, the NPV of $550 - cost basis in three months is still worth a couple posts on a thread. Maybe not the pain of reading smoothie's trolling, but that's another issue. By myopic I just meant that he is looking only at his side of the deal. But like any option, smoothie's side may also be good. Personally I don't like it at 25%... And if it's at USD100 on or near Halloween, I'll be selling enough to make it not worth nearly that much. ::) :-) If its at USD100 that quickly it will be there because major financial players entered the market, so they may gobble your volume like it did not exist. But of course anything above 11 is a win for both parties. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: FlipPro on July 18, 2012, 09:01:11 PM STOP WITH THE IRC LOGS. YOU DWEEBS ARE SATURATING THE SPECULATOR SECTION. :D
Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 18, 2012, 09:24:48 PM I concur. Pasting real-time chat logs on hypertext-semi-permanent-type threads feels sneaky to me, tbh I do not like it. That's a personal opinion not based in anything factual. I think the context of these things is completely lost when you transgress media like this. Especially if we dweebs have some multi-month long troll joke going on that has nothing to do with current events. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 19, 2012, 05:17:21 AM STOP WITH THE IRC LOGS. YOU DWEEBS ARE SATURATING THE SPECULATOR SECTION. :D I concur. Pasting real-time chat logs on hypertext-semi-permanent-type threads feels sneaky to me, tbh I do not like it. That's a personal opinion not based in anything factual. I think the context of these things is completely lost when you transgress media like this. Especially if we dweebs have some multi-month long troll joke going on that has nothing to do with current events. Ponzi. Witnessed. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 05:18:11 AM STOP WITH THE IRC LOGS. YOU DWEEBS ARE SATURATING THE SPECULATOR SECTION. :D I concur. Pasting real-time chat logs on hypertext-semi-permanent-type threads feels sneaky to me, tbh I do not like it. That's a personal opinion not based in anything factual. I think the context of these things is completely lost when you transgress media like this. Especially if we dweebs have some multi-month long troll joke going on that has nothing to do with current events. Ponzi. Witnessed. LOL? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: dooglus on July 19, 2012, 07:26:18 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract?
Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 07:35:48 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 07:59:44 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. And likewise, jcpham has to sell them. Either party breaks it, I'm going to see if Maged thinks that's grounds for a scammer tag. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 08:02:57 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. And likewise, jcpham has to sell them. Either party breaks it, I'm going to see if Maged thinks that's grounds for a scammer tag. No I think permabanned works better if that scenario ever happens. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 19, 2012, 08:04:20 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. And likewise, jcpham has to sell them. Either party breaks it, I'm going to see if Maged thinks that's grounds for a scammer tag. No I think permabanned works better if that scenario ever happens. Yeah, because bans from this forum seem to really stick. ::) Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 08:06:53 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. And likewise, jcpham has to sell them. Either party breaks it, I'm going to see if Maged thinks that's grounds for a scammer tag. No I think permabanned works better if that scenario ever happens. Yeah, because bans from this forum seem to really stick. ::) You have a point. I've already made my intentions clear. This entire deal for me is for entertainment value...whether I win or lose...i dont really care. But I do expect the other party to hold up their end in both cases. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: dooglus on July 19, 2012, 10:03:42 AM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. So why would you do that? Why not just buy them for $9 each right now and save yourself $100? I think the point of buying futures is that you're buying an option to trade at a certain price in the future, but are not obliged to do so. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: arij on July 19, 2012, 04:04:54 PM I agree to do the escrow. 50 BTC
1K2iCxLRTZStVTHK8cwoibXnRC5FJw1Sx To be sent to smoothie on October 31st, 2012 once $550 payment is received. and $550 forwarded to Jcpham. Smoothie please contact me so we can arrange the payment of $550. Have a nice day. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 04:30:23 PM 53c24851a5e576f701fe32dfe7179dd8f49ba31025ee62c54d923142b8248fb3 Wouldn't be my first ban. ??? The BTC are in the address. What would you be banned for? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 04:39:31 PM I'm not clear - does smoothie have the option to buy at $11 at the end of October, or the obligation to do so? i.e. can he elect to just pay the 25% and not take the coins without breaking terms of the contract? Nope. I gotta buy 50 btc at $11 each. And likewise, jcpham has to sell them. Either party breaks it, I'm going to see if Maged thinks that's grounds for a scammer tag. In order to allow enough evidence for a possible scammer tag, be sure to either publicly post the bitcoin addresses involved and other proofs of payment, or message this info to a trusted scam investigator. Normally, the escrow agent you chose would also qualify, however, I don't know anything about arij... Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 04:51:24 PM In order to allow enough evidence for a possible scammer tag, be sure to either publicly post the bitcoin addresses involved and other proofs of payment, or message this info to a trusted scam investigator. Normally, the escrow agent you chose would also qualify, however, I don't know anything about arij... Neither do I, but as I said, the BTC are in the address that arij posted, with the transaction that jcpham posted, so the chance of jpcham being labeled a scammer approaches 0. All that remains to be seen is if Smoothie ponies up the cash, and arij pulls off the escrow. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 05:01:04 PM arij is an independent third party I found just for this as an added bonus. He has -otc ratings, you can look them up. I don't like being threatened with bans when I'm the only one who is being serious, that's all. I was banned once here for being dumb already, I learned a lesson. Ban me again, shame on me. If smoothie had any power to get someone banned, and if scammers got banned, it might have been a credible threat. As it is, it's silly to get your panties in a twist over it. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 05:24:51 PM arij is an independent third party I found just for this as an added bonus. He has -otc ratings, you can look them up. I don't like being threatened with bans when I'm the only one who is being serious, that's all. I was banned once here for being dumb already, I learned a lesson. Ban me again, shame on me. If smoothie had any power to get someone banned, and if scammers got banned, it might have been a credible threat. As it is, it's silly to get your panties in a twist over it. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 05:46:02 PM I'm looking for any reputable forum volunteers to do an escrow for this "futures" contract.
Please post here to this thread. Thank you! Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 05:54:23 PM I'm looking for any reputable forum volunteers to do an escrow for this "futures" contract. Please post here to this thread. Thank you! Escrow has already been initiated. The BTC50 is already in the address below. All you have to do is set up the USD transfer. Clearly, you'll want to wait until October to actually send the money, though. ;) I'll periodically check that address, and of course, everyone else is welcome to as well. I agree to do the escrow. 50 BTC 1K2iCxLRTZStVTHK8cwoibXnRC5FJw1Sx To be sent to smoothie on October 31st, 2012 once $550 payment is received. and $550 forwarded to Jcpham. Smoothie please contact me so we can arrange the payment of $550. Have a nice day. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 06:01:56 PM Escrow has already been initiated. The BTC50 is already in the address below. All you have to do is set up the USD transfer. Clearly, you'll want to wait until October to actually send the money, though. ;) I'll periodically check that address, and of course, everyone else is welcome to as well. I'm so confused... Why is it that you'll periodically check that address, again?Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 06:02:18 PM I'm looking for any reputable forum volunteers to do an escrow for this "futures" contract. Please post here to this thread. Thank you! Escrow has already been initiated. The BTC50 is already in the address below. All you have to do is set up the USD transfer. Clearly, you'll want to wait until October to actually send the money, though. ;) I'll periodically check that address, and of course, everyone else is welcome to as well. I agree to do the escrow. 50 BTC 1K2iCxLRTZStVTHK8cwoibXnRC5FJw1Sx To be sent to smoothie on October 31st, 2012 once $550 payment is received. and $550 forwarded to Jcpham. Smoothie please contact me so we can arrange the payment of $550. Have a nice day. Yeah I got a PM from that username. Not sure if I'm comfortable sending USD to a non-established escrow member. This person's account was created last august and has barely posted to this forum. Hence why I posted for volunteers. How do I know that person isn't the same person as the person i'm dealing with and has a second account to "escrow" with? Any volunteers who are active members of this forum? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 06:08:28 PM Escrow has already been initiated. The BTC50 is already in the address below. All you have to do is set up the USD transfer. Clearly, you'll want to wait until October to actually send the money, though. ;) I'll periodically check that address, and of course, everyone else is welcome to as well. I'm so confused... Why is it that you'll periodically check that address, again?Got nothing better to do, so I figure I might as well volunteer my services? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 06:09:09 PM Yeah I got a PM from that username. Not sure if I'm comfortable sending USD to a non-established escrow member. This person's account was created last august and has barely posted to this forum. Totally agree. I'm surprised that anything was sent before the escrow agent was agreed upon.Hence why I posted for volunteers. I'm always happy to help. Otherwise, most of the major lenders also do escrow.How do I know that person isn't the same person as the person i'm dealing with and has a second account to "escrow" with? Any volunteers who are active members of this forum? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 06:10:30 PM Yeah I got a PM from that username. Not sure if I'm comfortable sending USD to a non-established escrow member. This person's account was created last august and has barely posted to this forum. Totally agree. I'm surprised that anything was sent before the escrow agent was agreed upon.Hence why I posted for volunteers. I'm always happy to help. Otherwise, most of the major lenders also do escrow.How do I know that person isn't the same person as the person i'm dealing with and has a second account to "escrow" with? Any volunteers who are active members of this forum? I pick maged for the escrow. That will be fine. The member who has the 50btc might want to send it back to the owner. Thanks Maged! Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 06:21:33 PM Yeah I got a PM from that username. Not sure if I'm comfortable sending USD to a non-established escrow member. This person's account was created last august and has barely posted to this forum. Totally agree. I'm surprised that anything was sent before the escrow agent was agreed upon.That does raise eyebrows. I'd chalk it up to jcpham just wanting to be done with this. I pick maged for the escrow. That will be fine. The member who has the 50btc might want to send it back to the owner. Thanks Maged! ^Who I would go with as well^ Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 06:23:27 PM Sorry for the delay, but I had to quickly securely generate an address.
-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Address for the escrow of jcpham and smoothie's futures contract, due 10/31/2012: 12zybdWYZxPmnXWHuTJWxgHGahDnQA9yJs -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (MingW32) iQIcBAEBAgAGBQJQCFCLAAoJEFmmB2syczYgCuIQAIAspRjKY1tV45s+UoPu+YgE hovlTFIaNK2K8BoaVnJWHfpz0m0C6HUtG7XG6N2uFiSCNDZLDvKktc1QofwGh9bl SvUZ8VpN4gMjCBBqgfAIHqI8p6fCoSy9GtoImU2+7rRoT3vmvIZ3m7vf6dVAY8Mq Xc06ccpdUgeaiGIQOLuA9gNJ6ix2XuA1HVqcpcbwUI3r9MqAUrz2xuJzcVpYyCDl O1yCfyFs5fBiMsLFvXtujXCjLb0HosdJfoKs+8dyetprbRpDLyFFUrLofGoe9wEw JkIIM+FrBgYsqJ8/S+RHnhWs0YZAQd32GZK5Bl4bgnOs6RSdFgNnus+23s6zHLtH ExZxqYZq+c+/1JZqYyQMbpsgKcQ2hBRsapXFr960JgEtAXbdrmVC3Gpt5xQDZc9C bXtDS+GO85OUC83LSiHcuxKy1I2pNGoD0Mdh2UicxTDy/qMYCN8WFhoIX5WTznjj 4POvIVU5ZEAtJBu/JOO74pS7NVPaA/4LJrJmboZzgApfONVM6cYR63F5NVKQRsxD R6KSuOmF5GjWas6atVTKH7qKgfWTXWOP/u/qAYdhLfEtOhTL0C26pWhW0uxaV8X1 jatn6hXSoDiKK8R0PBy6sfJBywVgnQrwkZGnUo4QIcTWJkN6fJ25B5YQOaPM/KH2 cyMeFLFOmT+3gXi/BHHd =d83x -----END PGP SIGNATURE----- Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 06:29:22 PM Sorry for the delay, but I had to quickly securely generate an address. -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Address for the escrow of jcpham and smoothie's futures contract, due 10/31/2012: 12zybdWYZxPmnXWHuTJWxgHGahDnQA9yJs -----BEGIN PGP SIGNATURE----- Version: GnuPG v1.4.11 (MingW32) iQIcBAEBAgAGBQJQCFCLAAoJEFmmB2syczYgCuIQAIAspRjKY1tV45s+UoPu+YgE hovlTFIaNK2K8BoaVnJWHfpz0m0C6HUtG7XG6N2uFiSCNDZLDvKktc1QofwGh9bl SvUZ8VpN4gMjCBBqgfAIHqI8p6fCoSy9GtoImU2+7rRoT3vmvIZ3m7vf6dVAY8Mq Xc06ccpdUgeaiGIQOLuA9gNJ6ix2XuA1HVqcpcbwUI3r9MqAUrz2xuJzcVpYyCDl O1yCfyFs5fBiMsLFvXtujXCjLb0HosdJfoKs+8dyetprbRpDLyFFUrLofGoe9wEw JkIIM+FrBgYsqJ8/S+RHnhWs0YZAQd32GZK5Bl4bgnOs6RSdFgNnus+23s6zHLtH ExZxqYZq+c+/1JZqYyQMbpsgKcQ2hBRsapXFr960JgEtAXbdrmVC3Gpt5xQDZc9C bXtDS+GO85OUC83LSiHcuxKy1I2pNGoD0Mdh2UicxTDy/qMYCN8WFhoIX5WTznjj 4POvIVU5ZEAtJBu/JOO74pS7NVPaA/4LJrJmboZzgApfONVM6cYR63F5NVKQRsxD R6KSuOmF5GjWas6atVTKH7qKgfWTXWOP/u/qAYdhLfEtOhTL0C26pWhW0uxaV8X1 jatn6hXSoDiKK8R0PBy6sfJBywVgnQrwkZGnUo4QIcTWJkN6fJ25B5YQOaPM/KH2 cyMeFLFOmT+3gXi/BHHd =d83x -----END PGP SIGNATURE----- +1 thanks Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 06:32:15 PM I'm not surprised at all. I'm getting tired of jumping through your hoops, though. Maged I trust because he is a mod. arij I trust because he has OTC cred. I don't give a shit who you trust and do not trust on this forum. I don't trust anyone from here, not one single person who I've met from this forum, not one. So anyways, since arij was just chilling in #bitcoin and I made an annoucement that I was looking for an escrow, he chimed in and we made the deal. Arij, if you want out of this nightmare, send the coins back to 12JREfAmTmFingQZazUyrdEciydF2YcQW9 or send them to Maged, who the fuck ever, I don't care. I still owe you one btc for agreeing to do the escrow, please send that info to me on IRC or post it publicly, I'm washing my hands of this. What hoops are you jumping through? The deal is for this upcoming Halloween. No one said you had to put the 50btc into escrow until then. You are jumping through your own hoops my friend. ;D ;D ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 19, 2012, 06:51:49 PM What's with the stream of idiots getting suckered into "bets" and then claiming afterward it's "for the lulz"? We all know it's bullshit, so stop doing it. It's like playing hard catch and acting as if a palm smack didn't hurt. Of course it hurt. The kid who claims it doesn't, with teary eyes, is just going to get more crap. We pick on the weak. Stop being weak. Your mama is so fat that when she sits around the house, she sits AROUND the house. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: arij on July 19, 2012, 07:09:31 PM I've sent the coins to 12JREfAmTmFingQZazUyrdEciydF2YcQW9.
b19a4900d062446a4584495a532fa2fd3150ac97d17c96ff444618a45e9f75cf Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 07:10:58 PM What's with the stream of idiots getting suckered into "bets" and then claiming afterward it's "for the lulz"? We all know it's bullshit, so stop doing it. It's like playing hard catch and acting as if a palm smack didn't hurt. Of course it hurt. The kid who claims it doesn't, with teary eyes, is just going to get more crap. We pick on the weak. Stop being weak. Your mama is so fat that when she sits around the house, she sits AROUND the house. Reeses you got some issues bro. It is for the lulz. I won't cry nor complain about it when the deal is done. You're just butt hurt that someone beat you to the punch in making this deal. Get over it! ;D ;D ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 07:34:06 PM This forum moves at a snail's pace and it pains me. 3 days to come to an agreement over 50btc. What the shit. Seriously, is this normal? Do you make decisions this slow in the real world? Why does this move at such a snail's pace? The dweebs usually make decisions faster than this in more real-time places. I imagine for every post someone has here on this forum, it means they missed out on a real good trading opportunity elsewhere. I'm waiting on confirmations, Maged. I had no idea you guys would pounce on an unknown third party like that, I thought I was doing good by not escrowing with anyone I have any affiliation with at all, but no, that's just not quite good enough for you, you need someone with "forum reputation". Last time I checked it took 1 username, and one password to exploit an identity here. I pick a random guy from IRC with several months of good trades to steward what amounts to a single bitcoin block reward for us and you say it seems sketchy. I say troll thread is obvious, here's my bitcoins anyways, suckers. FWIW the authentication on IRC is most certainly 2-factor ( nickserv and GPG/bitcoin authentication ). We dweebs like knowing who we are dealing with. You guys are all socks AFAIK with nothing to lose, there's no way to establish actual trust here on this forum, regardless of what you might think. The only way I can imagine actual trust being established is to gpg-sign every freaking post. This forum does not prove your identity and has no way of doing so. Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: myrkul on July 19, 2012, 07:35:06 PM I think someone got up on the wrong side of the stable this morning...
Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 07:35:46 PM I think someone got up on the wrong side of the stable this morning... +1 I concur Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Maged on July 19, 2012, 07:44:28 PM 50 BTC received.
I had no idea you guys would pounce on an unknown third party like that, I thought I was doing good by not escrowing with anyone I have any affiliation with at all, but no, that's just not quite good enough for you, you need someone with "forum reputation". Last time I checked it took 1 username, and one password to exploit an identity here. I pick a random guy from IRC with several months of good trades to steward what amounts to a single bitcoin block reward for us and you say it seems sketchy. I say troll thread is obvious, here's my bitcoins anyways, suckers. Umm... I GPG signed the bitcoin address with my OTC identity. If anything, this is more secure.FWIW the authentication on IRC is most certainly 2-factor ( nickserv and GPG/bitcoin authentication ). We dweebs like knowing who we are dealing with. You guys are all socks AFAIK with nothing to lose, there's no way to establish actual trust here on this forum, regardless of what you might think. The only way I can imagine actual trust being established is to gpg-sign every freaking post. This forum does not prove your identity and has no way of doing so. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: jcpham on July 19, 2012, 07:44:50 PM wall o' text
RE: Maged, yes I know. You are just as impartial as anyone else and I appreciate the gpg-signage. Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 19, 2012, 07:54:30 PM Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Uh.. no, it isn't and no, you're not. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 08:04:12 PM Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Uh.. no, it isn't and no, you're not. Link? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: imsaguy on July 19, 2012, 08:32:38 PM Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Uh.. no, it isn't and no, you're not. Link? I'm not trolling my irc logs to prove you wrong. Its happened repeatedly in #bitcoin-otc. Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 08:33:50 PM Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Uh.. no, it isn't and no, you're not. Link? I'm not trolling my irc logs to prove you wrong. Its happened repeatedly in #bitcoin-otc. Have any of those exchanges occured 3.5 months out into the future? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 09:41:07 PM Well it is the FIRST known public bitcoin contract. Just chill man...we're making history! ;D Uh.. no, it isn't and no, you're not. He didn't even know what he was getting into. Someone else had to tell him the equivalent financial product, and it's not even really that, either. You could have told him it was a Back-priced bantu bond and he'd get just as excited. Still trolling? Still butthurt? Aww....poor thing... ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 11:25:31 PM This forum moves at a snail's pace and it pains me. 3 days to come to an agreement over 50btc. What the shit. Seriously, is this normal? Do you make decisions this slow in the real world? Why does this move at such a snail's pace? The dweebs usually make decisions faster than this in more real-time places. I imagine for every post someone has here on this forum, it means they missed out on a real good trading opportunity elsewhere. I'm waiting on confirmations, Maged. I had no idea you guys would pounce on an unknown third party like that, I thought I was doing good by not escrowing with anyone I have any affiliation with at all, but no, that's just not quite good enough for you, you need someone with "forum reputation". Last time I checked it took 1 username, and one password to exploit an identity here. I pick a random guy from IRC with several months of good trades to steward what amounts to a single bitcoin block reward for us and you say it seems sketchy. I say troll thread is obvious, here's my bitcoins anyways, suckers. FWIW the authentication on IRC is most certainly 2-factor ( nickserv and GPG/bitcoin authentication ). We dweebs like knowing who we are dealing with. You guys are all socks AFAIK with nothing to lose, there's no way to establish actual trust here on this forum, regardless of what you might think. The only way I can imagine actual trust being established is to gpg-sign every freaking post. This forum does not prove your identity and has no way of doing so. I'm rather astonished as well. And glad you beat me to the $550. ;> Questioning the need for an escrow now and then questioning the escrow himself is just retarded. You know he's going to disappear in October anyway. Wanna wager that I will honor my bet? LOL...chicken?...sorry i mean chicken troll? Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 19, 2012, 11:30:38 PM Looks like we've got two trolls on this thread.
You guys wanna cry and whine have at it...this is funny. I will honor the agreement...just chill. ;D ;D ;D Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: adamstgBit on July 20, 2012, 12:01:06 AM all that and no punchline
>:( Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: Bitcoin Oz on July 20, 2012, 12:23:15 AM I can confirm smoothie followed through on our last deal if thats worth anything.
Title: Re: reeses, jcpham, and smoothie's futures contract (split from #bitcoin IRC log) Post by: smoothie on July 20, 2012, 12:25:31 AM I can confirm smoothie followed through on our last deal if thats worth anything. +1 Yeah so don't worry...keep smiling!! ;D ;D ;D Title: Re: The smile patrol Post by: smoothie on July 20, 2012, 01:37:55 AM Down. Down. Down. LOL oh no...! hahahaha....we've got three months buddy take a chill pill...or keep whining and crying...that works too. ALL GEE TO MEEH! ;D ;D ;D Title: Re: The smile patrol Post by: smoothie on August 04, 2012, 07:47:05 AM @jcpham
Looks like we're already at $11 and its barely the end of August. You will get your $550 for the 50 btc on Halloween as we agreed. Something tells me the price will be much higher than $11 by that time. You profit and I profit...win-win to me....just I win bigger is all :D Title: Re: The smile patrol Post by: jcpham on August 04, 2012, 08:44:06 PM neat
Title: Re: The smile patrol Post by: smoothie on August 15, 2012, 01:06:08 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D
Title: Re: The smile patrol Post by: myrkul on August 15, 2012, 01:13:49 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D Wonder what they'll be up to by then. Title: Re: The smile patrol Post by: smoothie on August 15, 2012, 01:15:47 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D Wonder what they'll be up to by then. Title: Re: The smile patrol Post by: adamstgBit on August 15, 2012, 01:19:16 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D Wonder what they'll be up to by then. I wonder if who ever is selling these bitcoins is going to make good on his pormiss if he was smart he would of bought them at the time this "contact" was drawn up. I think smoothie should sell 50 bitcoin now, to be safe if the exchange rate goes down to by October 31st Title: Re: The smile patrol Post by: jcpham on August 15, 2012, 01:21:12 AM Maged has the coins, I kept my end. I could've bought them at $3 or $15 or $31.50 (hint: I haven't bought since $8.4), any number of pools might have paid them to me. Maybe they were from dividends on "investments" or interest paid on loans... who knows. ;D
Title: Re: The smile patrol Post by: smoothie on August 15, 2012, 01:23:37 AM Maged has the coins, I kept my end. I am aware of that. Good man. I will keep to my end on Oct 31st as stated in the deal. Title: Re: The smile patrol Post by: myrkul on August 15, 2012, 01:29:40 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D Wonder what they'll be up to by then. I wonder if who ever is selling these bitcoins is going to make good on his pormiss if he was smart he would of bought them at the time this "contact" was drawn up. I think smoothie should sell 50 bitcoin now, to be safe if the exchange rate goes down to by October 31st The BTC are already sitting in escrow: https://blockexplorer.com/a/qD9UNbK4C Title: Re: The smile patrol Post by: smoothie on August 15, 2012, 01:36:35 AM Woo my 50 bitcoins for purchase on October 31st are already in the green...since I'll be buying them at $11. :D Wonder what they'll be up to by then. I wonder if who ever is selling these bitcoins is going to make good on his pormiss if he was smart he would of bought them at the time this "contact" was drawn up. I think smoothie should sell 50 bitcoin now, to be safe if the exchange rate goes down to by October 31st I could...but would that be fun?.....nahhhh. I'll wait. :D Title: Re: The smile patrol Post by: nimda on September 02, 2012, 01:33:18 AM Hmmm... was this the Bitcoin economy's first public forward contract? :o
I wouldn't call it a future, but it was a forward, at least. It's margined but not marked to the market, and it's otc; does that make it half-future half-forward? Title: Re: The smile patrol Post by: myrkul on September 02, 2012, 02:07:30 AM I donno, but it's actually a gamble, now... It's been up to 15 and back down since this thing was "signed". Price could be anything by the end of October.
Title: Re: The smile patrol Post by: jcpham on October 25, 2012, 08:33:30 PM We're getting so close now! Anticipation!
Title: Re: The smile patrol Post by: Maged on October 26, 2012, 09:38:56 PM Interesting turn of events coming into these last few days!
Title: Re: The smile patrol Post by: myrkul on October 26, 2012, 09:50:55 PM Interesting turn of events coming into these last few days! No lie. I wonder if that's just a weekend dip (I thought those were mostly over?), or a full-fledged downturn. I guess we'll see! Title: Re: The smile patrol Post by: smoothie on October 27, 2012, 05:15:13 AM Agreed. Interesting times.
$11 baby! here we come! :D Title: Re: The smile patrol Post by: smoothie on October 31, 2012, 02:21:10 AM Wow I was pretty dead on with the price. Right now it is $10.97 on mtgox.
I will be sending Maged the $550 in MTGOXUSD within 24 hours. Perhaps I might even make a profit lol. Stay tuned.... :D Title: Re: The smile patrol Post by: smoothie on October 31, 2012, 02:25:39 AM x LOL nice...OP edited his original post. hahahaha :D Title: Re: The smile patrol Post by: jcpham on October 31, 2012, 03:43:24 PM Almost...as if it were planned...
Title: Re: The smile patrol Post by: smoothie on October 31, 2012, 05:41:42 PM Almost...as if it were planned... MUAHAHAHAHAHAHAHAHAHAHAHAHA YES LITTLE ONE I PLANNED IT ALL ALONG. $11.10 currently.. Damn I'm good. :D Title: Re: The smile patrol Post by: smoothie on October 31, 2012, 07:56:33 PM Almost...as if it were planned... To make things simple I propose I just send Maged 52 BTC and he can cash the btc out on Gox and transfer the money to you jcpham ($550). Given there is little price difference where I am buying at and the actual price today given the previous engagement, if Maged agrees and you agree I'll do this. Maged indicated that if I submit to him a MTGOXUSD code it could be compromised and I would rather be safe given that the difference in the prices is so small it's not a big deal for me to take a few dollar loss just to honor my agreement. jcpham and Maged, your thoughts? Smoothie :D Edit: I will be in and out of the forum today. Sorry it is a busy day for me. PM me for fastest response. Thanks. Title: Re: The smile patrol Post by: jcpham on October 31, 2012, 08:21:31 PM I too, am busy today. If you are sending me a MTGOX code, I'd prefer that communication to come from Maged via internet relay chat (if possible, and yes I can wait for a time that is convenient for him).
I will also accept a BTC payment directly if you guys want to just keep this denominated entirely in bitcoin - I just want the bitcoins really and we can estimate the market value. I say, bravo! we guessed $11 correctly. 1Gb2Aew6F8cusSRWazrATfZ67HRHjo1Q5r is a new payment address just for this situation if you guys just want to return the coins. I'm open to whatever and really in no rush but we can conclude this at a time that is convenient for everyone. I'll be more available tomorrow between 9AM-6PM CST on irc and here. Title: Re: The smile patrol Post by: Maged on October 31, 2012, 09:21:23 PM I too, am busy today. If you are sending me a MTGOX code, I'd prefer that communication to come from Maged via internet relay chat (if possible, and yes I can wait for a time that is convenient for him). Well, since I'm the one coordinating the payments, I suppose that this is my call. I have no problem keeping this in bitcoin. So, here's what we'll do to keep to the original terms (which you guys can still change, if you'd like to and you both agree):I will also accept a BTC payment directly if you guys want to just keep this denominated entirely in bitcoin - I just want the bitcoins really and we can estimate the market value. I say, bravo! we guessed $11 correctly. 1Gb2Aew6F8cusSRWazrATfZ67HRHjo1Q5r is a new payment address just for this situation if you guys just want to return the coins. I'm open to whatever and really in no rush but we can conclude this at a time that is convenient for everyone. I'll be more available tomorrow between 9AM-6PM CST on irc and here. 1) I'll receive bitcoins from smoothie at the address 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP (smoothie has a signed message from me that says this) 2) If the amount is greater than $550 USD worth of BTC, I will "convert" them to "USD" at MtGox last. This "conversion" will happen no later than 6 confirmations after the funds are sent and will be backdated to such time if I'm not around to see the transaction during that window. So, in the worst case, this is like sending money to an exchange. Smothie has gracefully decided to give me the difference between $550 and what he sends as a tip. Thanks! I will be liable for changes in the price from this point on until I send the funds to jcpham. 3) The 50 BTC escrow will be released to smoothie. 4) I will "convert" $550 "USD" to BTC and send it within a few minutes of the "conversion". Because jcpham is accepting the value in bitcoins, this would be like me making the conversion for him at an exchange and sending it to him. Thus, the transaction is considered over (as well as my obligation to the bitcoin price) once my bitcoin transaction to jcpham hits the network, except that I get a small window to make the "conversion" (realistically, this will just be 1-2 minutes as I do a little math). Convoluted? Sure. But that's what happens when both sides of an agreement decide to accept their funds in the opposite currency. :P However, you'll find that each half of this transaction is being handled according to common practices for when you are transacting in other currencies over the bitcoin network. But don't get confused: since I'm not charging a fee for the "conversions", this is still cheaper than actually doing a conversion. Title: Re: The smile patrol Post by: smoothie on October 31, 2012, 09:50:12 PM I sent 52 btc to Maged which he will convert to USD on gox. I sent it to 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP
Please send the 50 btc to 1GeCcAyw2sgsQMzDt5a6g5rbbbNRfrCehp Smoothie Title: Re: The smile patrol Post by: Maged on October 31, 2012, 09:54:01 PM Ack $577.63 USD (52 BTC @ 11.10841 USD/BTC).
Title: Re: The smile patrol Post by: Maged on October 31, 2012, 10:03:24 PM $550 sent to jcpham in BTC. (49.73 @ 11.06 USD/BTC)
Title: Re: The smile patrol Post by: myrkul on October 31, 2012, 10:08:44 PM Well done, guys. That was probably the most complex trade I've ever seen. :D
Title: Re: The smile patrol Post by: Maged on October 31, 2012, 10:08:54 PM I sent 52 btc to Maged which he will convert to USD on gox. I sent it to 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP Ack, and escrow released. Sorry for the delay, but I kinda forgot in my whole list of steps that I had securely stored away the private key for this, so I had to grab it and decrypt it.Please send the 50 btc to 1GeCcAyw2sgsQMzDt5a6g5rbbbNRfrCehp Smoothie Title: Re: The smile patrol Post by: smoothie on November 01, 2012, 01:18:56 AM I sent 52 btc to Maged which he will convert to USD on gox. I sent it to 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP Ack, and escrow released. Sorry for the delay, but I kinda forgot in my whole list of steps that I had securely stored away the private key for this, so I had to grab it and decrypt it.Please send the 50 btc to 1GeCcAyw2sgsQMzDt5a6g5rbbbNRfrCehp Smoothie Received. Thanks Maged for helping with this exchange, even though the difference is pretty much negligible. The difference is your tip ($550 subtracted from the total 52btc). ;D ;D ;D Smoothie Title: Re: The smile patrol Post by: Maged on November 01, 2012, 01:21:02 AM I sent 52 btc to Maged which he will convert to USD on gox. I sent it to 1AcCFPtehTbBbdsDrZVbHZhmggusW5XfmP Ack, and escrow released. Sorry for the delay, but I kinda forgot in my whole list of steps that I had securely stored away the private key for this, so I had to grab it and decrypt it.Please send the 50 btc to 1GeCcAyw2sgsQMzDt5a6g5rbbbNRfrCehp Smoothie Received. Thanks Maged for helping with this exchange, even though the difference is pretty much negligible. The difference is your tip ($550 subtracted from the total 52btc). ;D ;D ;D Smoothie Title: Re: The smile patrol Post by: jcpham on November 01, 2012, 02:29:17 AM Thanks guys and success all around for an entirely complex wager/prediction/troll thread that turned out to be nice, clean, possibly epic thread of nothing ;-)
The terms are fine and I thank everyone again. Maged deserves a tip for being such a good escrow/moderator/and all-around good guy. Reeses is still a troll though. Back to your regularly scheduled halloweenery. Title: Re: The smile patrol Post by: smoothie on November 01, 2012, 03:19:08 AM Thanks guys and success all around for an entirely complex wager/prediction/troll thread that turned out to be nice, clean, possibly epic thread of nothing ;-) The terms are fine and I thank everyone again. Maged deserves a tip for being such a good escrow/moderator/and all-around good guy. Reeses is still a troll though. Back to your regularly scheduled halloweenery. +$11 :D Title: Re: The smile patrol Post by: smoothie on November 02, 2012, 06:43:19 PM Still annoyed I didn't get dibs on the bet. ;> First of all genius, it wasn't a bet, but a contract to purchase bitcoins at $11. Given your involvement with PPT/pirate I doubt you would be able to have paid up. Then again since I was so accurate in my call on $11 on October 31st, the difference in the trade was negligible. Smoothie |
