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Hi guys, sorry for the recent shortage of liquidity for some of the binary options. One of the market makers felt it was too risky due to the big fluctuations a few days ago. But now we have discussed with him and he just turned back, and he promised not to do so in the future and he is also improving the market making program to make it more robust. Anyways, we will try our best to find more and more good market makers for you guys to trade with.
BTW, for vanilla options, we will release straddle or strangle shortly, so you can directly short or long volatility. Stay tuned!
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As you guys requested just lowered down the commission fee for vanilla options to 0.00002 BTC. Enjoy trading.
Open positions have no download function at this moment. If many request, we will definitely add.
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Just fixed the withdrawal form. Now you will get notified if an invalid Bitcoin address is used.
Lol .. ok thanks. (I sent a couple withdrawal requests today with address that was missing a digit ... my guess is he's referring to that.) Here's some insight for your business. Today I withdrew half my balance ... in order to send it to 796 xChange and sell the FTSE China A50 contract they have now. The A50 was down some 8% on the day this afternoon ... but I missed the bulk of it, of course. Ideally Coinut was a derivatives exchange, and not just an options exchange. Then many of your traders could consolidate trading on your site. Futures+Options are a perfect fit, especially with portfolio margining. I would MUCH prefer NOT to be sending my coins all over the place in search of a good trade - ideally they were all under one roof. Sure, futures will definitely be our next derivative. |
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Just fixed the withdrawal form. Now you will get notified if an invalid Bitcoin address is used.
Lol .. ok thanks. (I sent a couple withdrawal requests today with address that was missing a digit ... my guess is he's referring to that.) You we are welcome.  |
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Just updated the spreadsheet for the new members.
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Just fixed the withdrawal form. Now you will get notified if an invalid Bitcoin address is used.
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Suggestion for the binary options:
Instead of a flat .0002 trading fee, make it the lesser of .0002 and 20% of the contract price. Thus a contract that is bought/sold for .0009 would only charge a fee of 20%*.0009=.00018
And a contract that trades for .0002 would only cost a fee of .000040
This change will encourage bigger volumes on your lowest price contracts. Currently I see contracts quoted for prices that are less than the transaction cost, which makes little sense, unless of course your aim is to limit trading.
Why don't you wear our signature campaign? I think you will gain some registrations and thus earn some commissions in additional to the campaign payment. I've thought about it. Two issues for me: First, in the short-to-medium term I think BitBingo pays better. Second, if I campaign with Coinut and a referral link, I will likely post some instructional stuff, which would require more of my time. And right now I DON'T want people imitating me because I could get crowded out. And finally, I'm concerned you guys are vulnerable to competition. Currently your functionality remains quite primitive, and I'm thinking there are a few guys/teams looking to do you one better. It doesn't appear you have a credible, direct competitor at the moment, but rest assured one is on the way. The first reason is quite understandable. Regarding the second one, we know that we still need to add a lot more functionalities. But we have built a very strong foundation. We have very efficient backend and frontend. We have designed our system in a very flexible way so that many functions can be added without much difficulty. We just need you guys to suggest what you want. A few days ago, you guys told us you need the volume and open interest metrics and less strike prices etc. We just implemented them. So our team is always here doing our best to make the platform professional and easy to use. |
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Suggestion for the binary options:
Instead of a flat .0002 trading fee, make it the lesser of .0002 and 20% of the contract price. Thus a contract that is bought/sold for .0009 would only charge a fee of 20%*.0009=.00018
And a contract that trades for .0002 would only cost a fee of .000040
This change will encourage bigger volumes on your lowest price contracts. Currently I see contracts quoted for prices that are less than the transaction cost, which makes little sense, unless of course your aim is to limit trading.
Why don't you wear our signature campaign? I think you will gain some registrations and thus earn some commissions in additional to the campaign payment. |
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Suggestion for the binary options:
Instead of a flat .0002 trading fee, make it the lesser of .0002 and 20% of the contract price. Thus a contract that is bought/sold for .0009 would only charge a fee of 20%*.0009=.00018
And a contract that trades for .0002 would only cost a fee of .000040
This change will encourage bigger volumes on your lowest price contracts. Currently I see contracts quoted for prices that are less than the transaction cost, which makes little sense, unless of course your aim is to limit trading.
Yeah that sounds good. Yeah I think smaller fees would be good. But a 0.0002 fee for 50% contracts is actually completely reasonable on a binary options contract. Smaller fees would allow trading on further out strikes while collecting the same amount of fees on the closer strikes so they're getting extra revenue. Also is there a fee for closing positions? You don't have a fee for exercising so I think no fee on closing would be a good idea. And you already charged them a fee for opening the position. So with your proposal of 0.0002 or 20%. MIN(0.2*contract price, (1-contractprice)*0.2) Equilibrium price is a contract price of 0.001, I think it's perfectly reasonable. It's won't be effecting your fees that much and it's causing more volume. Actually I'd recommend a 15% fee because with both maker and taker 40% is quite a big portion. And equilibrium price is still 0.0013333 so you shouldn't have a problem. Or you could consider some sort of fee that's not equal. So that the person who's risking more, 0.009 btc has a smaller fee and the person who's getting 10x doesn't get as much of a fee reduction. Because for them even though the fee is a big portion of the contract, it's a small amount of the reward they're getting. So it would be based on the reward you get. Yeah, these are nice suggestions. Right now, there is no fee for either closing or exercising a position. We will definitely consider making it proportional to the price in the future. But it will require a little more research. |
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More participants are needed. Please come.
Please confirm. Name: bryant.coleman Posts: 11,333 Activity: 742 Position: Hero Member Coinut username: vest007 Sure, please join. |
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How much spots are left for full member?
We still have 5 spots for full members. |
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This sounds like a Ponzi stuff to me but is there any payment proof? Is there anybody here using the option website?
Indamuck has been using the site for quite a while and he has made quite good profit. You can see from his posts in this thread. We are not interested in making it a ponzi. Being a legitimate exchange will go much further. |
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Hey I'm not see my Addy  again  Sent. Please check. |
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but you can loose 100% too  Surely that's possible. Trading is risky. |
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Binary options are pure gambling.
Have fun!!!
Well, lets have a look at my results to-date: Contracts opened & closed: 1213 Contracts closed at a profit: 1104 Contracts closed at a loss; 109 Total net profit: 1.371 btc Avg profit per closed contract: .00113 Maintenance margin on each contract: .010 btc Avg. return: 11.3% Avg holding period: 9 days (my guess) Total Commissions & fees paid (at .0002/contract): .2426 btc That doesn't look like the results of a 'gambler.' In the end binary options are simply an instrument, like a stock or a bond. It is what you DO with them that make them an instrument of gambling, investing, or whatever ... Nice trades! Also thank you for letting others know. |
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Guys, we are going to hold a big campaign from now on. 10 more full members, 10 more sr. members and 2 more hero members are needed. Post counting will not be as strict as before. Please join now!
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Binary options are pure gambling.
Have fun!!!
Not exactly. Our binary options are exchange traded. And you can choose different strike prices. Please read the red text in the first post for further explanation. |
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One guy recently made 13 BTC starting with only 0.2 BTC by trading the 30 minute binary options. We also have a few updates recently. * We added a referral program. Join and get 10% commission. * We added volume and open interest. * Now you can download your history trades as a CSV file. |
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