Bitcoin Forum

I'm looking for someone trusted on here (or someone willing to use escrow) to offer me the option to buy 10 5 BTC in 6 months time.

I would like to lock in a price now. There would be a fee payable by me for this service. All can be negotiated.

If there is no interest, any suggestions on how to achieve this through other means would be appreciated.

What strike price are you looking for your call?
Would it be a european or an american style option?

Let's say strike of $450.

I don't mind if I can exercise at any time or only at expiration.

I'll sell you an option to buy 10BTC in six months time.

Option cost is @ $2455 per BTC

So BTC would have to be worth $2855+ for this to be a good move for me...

Yes... That's the idea....

But if they hit 5K each you'd be laughing and I'm probably gonna be crying..lol.

But its fun so why not....

Thanks for the offer, but way above what I was hoping for.

Cool cool, I'll let the offer stand for 72 hours just in case you sleep on it and decide it may be worth it.

LOL.

Good luck on this search though. It's going to be fun to see what happens on this thread...

I can't see why anyone would do this.. far too risky and not many people will want to tie up their btc for that long without payment. One party will end up losing out or trying to back out of the deal.

It's an option to buy, so once I have paid the fee/premium I will have met my commitments.

Reasons why someone might want to do this:

-They are bearish on BTC for the next 6 months.
-They have as much BTC as they want, but are happy to buy some more with fiat to collect the fee here.

How much premium will be good according to you. I am interested but want to see. How much premium you want to pay.

If you're asking to pay near market rate but pay in 6 months, then what you're doing is almost the equivalent to asking for a loan. You're locking in price now and 10btc is pretty much yours, but payment won't be made until 6 months later.

I am at a loss as to what is a fair premium to ask for - therefore I will just ask for offers and we could negotiate from there.

You could compare it to a loan, however the BTC is never at risk and the fee is paid in advance.

I've been thinking about this more and I agree that a strike price of $450 is too close to the current market rate to get interest.

Let's say $600 strike, 6 months term. Open to offers on the premium I would have to pay.

It's not a loan but an option to buy at a predetermined period of time.

Say, the strike is $450 and the option expires in 6 months. It means that you will have an option to buy these bitcoins for $450/BTC regardless of the price at the time after 6 months.  

Of course you have to pay fees for such privilege.

I am not making an offer, but I would estimate that such an option would fetch a premium of somewhere between .18 and .25 per BTC you wanted to buy (between 1.8 and 2.5 for 10 BTC), this is based on a strike price of 600 and you paying any fees associated with sending the funds to the seller upon exercising of the option.

Using escrow would substantially complicate things because you would need to find someone that will be reputable in six months today and it would be very difficult to know who will continue to be reputable (escrow member 'x' could run away with someone's money in 3 months). If you only agreed to find an escrow when the option is exercised then one of you could potentially "not want to use" any of the escrow members that are available.

Thanks for your input.

In a perfect world, an old school member from 2011 would offer this and I wouldn't worry about escrow  ;D

I would feel comfortable using someone like Yankee or Danny Hamilton however - Yankee in particular I would have no worries with due to his position in the community.

Let's reduce this to 5 BTC, 6 months, European or American style call and see if there's any interest. 

I would be open to doing this option seeing as someone trustworthy holds my 5 BTC. I would need a clause though that if the BTC falls below a certain price say $300, the option is void and I am able to sell the BTC if I choose. Fee refunded or something along those terms. As for fee, it would have to be high or decent of a premium because as we've all seen BTC has gone from $100 to $1100 in only a 2 months time before. -Kingofsports

I would offer a 0.5 BTC fee for a 5 BTC contract with a $600 strike and a term of 6 months.

I am happy for a contract void clause if BTC falls below $300 - if this happens the 0.5 BTC fee would be returned to me from the escrowed amount.

Yankee would be my preferred escrow if he is up for this. 

*bump*

Bitcoin is diving... does this look any more attractive to anyone?

How about creating an account on OKcoin or Bitfinex and using leverage? That's the only way this is going to get done. It's kind of a lose-lose for the person selling them, because if bitcoin goes up to say $2,000 they lose, while if bitcoin goes down to say $50 they potentially lose, because they're not guaranteed payment.