"I trust Bitcoin because it does not require trust."
This. Yep, I trust Bitcoin because I do not have to trust anyone if I do not want to. |
|
|
|
|
coinft, you did read my posts above, didn't you? Sorry I have nothing to add. There is obviously some communication breakdown. I just
want to ask you one thing, stop putting your words into my mouth.
|
|
|
|
My right to purchase would be active for a week after December 1st, 2013. The seller of the Bitcoins would be obligated to sell them to me if I choose to buy them.
How much would this contract cost?
If it continues like what we see now, you might just buy enough coins for the money you want to pay for the contract  So far out of money ~18 month long contracts in such an illiquid marketplace, yep the premium is not trivial. But it gives desired risk profile, I suppose. |
|
|
|
P.S. Actually I would even deliver to call buyer an encrypted wallet at the time of call sale. The password would be delivered when option is exercised. See how cool bitcoin is?
The receiver of the encrypted wallet has no way to verify its content. And he cannot prevent you from using a copy of it to empty it any time. Sometimes cool tech is dangerous, when you don't fully understand it. This way of doing escrow is at best useless, and in the worst case a scam (but I hope it just wasn't thought through fully). 1. I did not say that it is escrow. 2. I did not say that there is way to verify content. 3. I did not say that there is no 3rd party risk 4. I did say that I will not use escrow. Counterparty would have to trust me to deliver the goods and make good on a written contract. On the another hand I do not trust anyone out there to give em 2100 of my BTC for safekeeping. If you thought that the proposed delivery method is meant as an escrow, you need to think again. Coinft, You must be new around here. It's ok. You just made a mistake of taking that P.S. out of context of the post and being too new to know longer term context relevant to the trust thing. And BTW, as far as trust is concerned and 3rd party risk and without meaning to offend another bidder at all. Trust to some GLBSE outfit or trust me writing a contract in my name, that's a such a nobrainer. But it is just as I see it. YMMV. |
|
|
|
You do realize the price to buy 2100 bitcoin RIGHT NOW on mtgox is $22,787.77 (plus mtgox fee). You would then have the bitcoins guaranteed available to you to buy December 1st, 2013, as you would be the counter-party to your own contract.
If I were you, I probably wouldn't pass on any bids higher than $23,000 to your client, at the risk of looking silly to him/her.
Right. I am just being professional. I am disappointed in these bids because it shows that people are not confident in the long-term market. Either that or it shows that the price is going to be much higher in 2013. Your offer is asinine, "I have the right to buy, but I don't have to" I know this type of shit goes well with stocks, but this is the wild west of finance, put your money where your mouth is, or fuck off. Plus, even if I felt like dealing with you, I could only ever lose money because you would only buy if the price exceeds $100/btc. Nice one, quoted for posterity. Le Happy Merchant, you really need to have a chat with pirate, you might like his wares more. (it's a joke btw) |
|
|
|
I'm counting on it,  Nahh I read a bit that thread and changed my mind, those guys are even more ignorant than most of worst idiots here. They got the ponzi thing right, however. |
|
|
|
|
I've corrected a mistake in my post. Exercise price should be not 100£ but 100$ (USD) as in your subject line.
|
|
|
|
|
This is very simple call option contract. The only problem with such a contract is counter party risk. Ignoring that the contract should not even be too expensive.
Basically OP wants to buy a right (but not obligation) to buy 2100 BTC at any time during week commencing December 1st, 2013 for 100$ per 1 BTC. It is european style call option. I would not mind to sell american style call too, this can be exercised at any time, before or on expiration date.
Without doing any calculations just looking at the chart I would guess that the fair price is somewhere around 4 000$.
I would sell such call. But I would not do any any escrows. Maybe if needed I would prove ownership of the amount and place it in a separate cold wallet under my control. I would be happy to sign a written contract on this in my personal name.
(Selling calls and puts was always my favourite option strategy).
P.S. Actually I would even deliver to call buyer an encrypted wallet at the time of call sale. The password would be delivered when option is exercised. See how cool bitcoin is?
|
|
|
|
|
A simple rule (not universal of course) many option traders (including me in the past) use:
If you make more than 1% profit on a good day, you take too much risk.
Following the above approach is indeed very wise, more than many can appreciate.
|
|
|
|
|
We should start a few new ponzis one denominated in carrots and another one denominated in psychic powers.
|
|
|
|
I think I'll remember this funny days for ever, extremely entertaining.
1 BTC worth 100$ on entrainment value alone. |
|
|
|
|
I had a thought.... what if unthinkable happens, miracle of sorts. That anonymous guy who holds right now reportedly 500k BTC of sucker's money will somehow give to those suckers ~600k BTC indeed. Hypothetically speaking. Would I need to apologize? I thought and thought and pondered this unlikely eventuality... and no I will not apologize.
Well maybe, just maybe, I would apologize to some specific person if I really said something real wrong...
Otherwise, hell no! Whatever will happen to the pirates op, tomorrow another anonymous personage starts another ponzi looking op, I will say the same thing again. I have nothing to apologize for in either case, and it is not my mission to please anyone here.
|
|
|
|
|
The poll chart above is showing you all the finger right now.
|
|
|
|
|
I am just waiting for the culmination and climax. I, personally, hope that I was wrong all along, but know that chances of that are slim to none, unfortunately.
Whatever the pirate said means nothing but that we will know better soon.
|
|
|
|
Why yet another thread with accusations based on assumptions. Don't we have enough already. Can't you just wait a week, or do you have nothing better to do?
It is not an accusation. It is a prognosis. Quite reasonable one BTW. |
|
|
|
http://bitcoinmagazine.net/issues-2-and-3-hot-off-the-presses/Here you go, here is the proof. Whether notme will get BTC denominated refund upon request or any refund at all depends on a number of factors. I do not know what it will be. Contact customer support, they will sort your problem. This is my last offtopic message in this thread, sorry for this.
|
|
|
|
Every time, when I say something on this forum and it is immediately followed up by a personal attack, I know that I said something wise.
Way to avoid the subject. Where's my magazine? , one quick email and your query will be taken care of. I already tried that, they just quoted me the date of my order and 3-4 weeks, which have passed. Maybe you need to replace your customer support representative with someone who will do a better job. Request refund then if you cannot wait. Sorry again for offtopic. |
|
|
|
Every time, when I say something on this forum and it is immediately followed up by a personal attack, I know that I said something wise.
Way to avoid the subject. Where's my magazine? , one quick email and your query will be taken care of. And my apologies for offtopic. |
|
|
|
|
Every time, when I say something on this forum and it is immediately followed up by a personal attack, I know that I said something wise.
|
|
|
|
I can only hope the shame of being a proven twat is enough to shut you all up once pirate pays back.
miracles do happen from time to time.. keep your spirits up. |
|
|
|
|
Show Posts
