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Author Topic: Introducing CoinHedger: An Exchange Site for Bitcoin Option Contracts  (Read 1492 times)
CoinHedger (OP)
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May 21, 2013, 08:19:11 AM
 #1

Fellow Bitcoiners,

This was initially posted in Newbie section but probably deserves to be posted here as well. We at CoinHedger Inc are pleased to announce to the Bitcoin community that we will be launching a new Bitcoin exchange platform that seeks to provide a more innovative way to hedge against exchange rate fluctuations utilizing options contracts. We don’t want to reveal too much too soon but we will say our aim is to provide a simple, user-friendly interface and a robust trading engine combined with superb customer service. CoinHedger will go live in July 2013. More information will follow in the coming weeks. Any questions should be directed to Public Relations at PR@coinhedger.com. Follow us on Twitter @CoinHedger for the latest updates on the development and site launch. We look forward to serving the Bitcoin community by providing a new way to hedge your coins. Stay tuned.

Sincerely,

Public Relations
CoinHedger Inc
PR@coinhedger.com
http://www.coinhedger.com
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May 21, 2013, 08:22:07 AM
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Probably a good idea to not use Google Sites, and read this: https://bitcointalk.org/index.php?topic=124441.0

For starters, 1 - identify yourself (where is your company registered? if it is registered, where are your licenses?), 2 - spend six months learning, and announce the details:

Quote
We don’t want to reveal too much too soon but we will say our aim is to provide a simple, user-friendly interface and a robust trading engine combined with superb customer service.

Quote
If you think your business plan has to be kept secret because otherwise others will steal it you are probably too stupid to be in business (not just BTC, but in general).

Let me explain to you how business "stealing" works: at the time MPEx was created (Feb 2012) there existed GLBSE already, which sucked at that time. Nobody flailing around in a cloud of stupidity almost mould-like in consistency seemed to be aware of it, but GLBSE sucked. And so Mr. P decided to make a securities exchange that worked right and was run correctly.

So, pro tip #1: there's so much to do and so few people capable of doing it in Bitcoin that if your plan makes sense and you seem even remotely competent everyone else who is competent will breathe a sigh of relief. They aren't going to "steal" your idea of doing the absolutely fucking obviously banal, cause so much is needed I couldn't begin to tell you
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May 21, 2013, 08:25:20 AM
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It looks like you are using shared hosting. Seriously?
CoinHedger (OP)
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May 21, 2013, 09:03:27 AM
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Hello,

You raise some good points which I will address. My name Christopher Rieck, founder of CoinHedger Inc based out of Minneapolis-St. Paul, Minnesota. Currently, I am less than a week away from graduating from the University of St. Thomas where I studied finance and economics. I have been invested in and following bitcoin and its development for the last two years. I have sold all my bitcoins recently to finance this venture. Over the next several weeks, my partners and I will be developing an exchange where users will be able to create, buy and sell options contracts related to bitcoin. Yes, I am using GoogleSites until I can get a proper "Under Construction" page up (its finals week) plus we are still deciding on a hosting service. There will be more information and details about the concept in the coming weeks. I'm not trying to be secretive but I'm also not going to begin to go into specifics on an announcement post. I simply want to inform the community that there is an exchange platform in the works and we expect to launch it in July 2013. I will be checking back on this thread frequently and if any members have questions, I will try to answer them as best and as quickly as possible.

Thanks,

Christopher Rieck
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May 21, 2013, 09:15:50 AM
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I simply want to inform the community that there is an exchange platform in the works and we expect to launch it in July 2013. Over the next several weeks, my partners and I will be developing an exchange where users will be able to create, buy and sell options contracts related to bitcoin.

There is such a platform already, Mr Excited Noob Guy. It's called MPEx, it's been around since 2011, it's run by very skilled people with loads of money and so forth.

More lurking is in order. You can start here.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
CoinHedger (OP)
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May 21, 2013, 09:38:28 AM
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There is such a platform already, Mr Excited Noob Guy. It's called MPEx, it's been around since 2011, it's run by very skilled people with loads of money and so forth.

More lurking is in order. You can start here.

We are well aware of MPEx, ICBIT and similar services. While CoinHedger will share some similarities to enterprises such as these, it will be significantly different.
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May 21, 2013, 06:19:23 PM
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We are well aware of MPEx, ICBIT and similar services. While CoinHedger will share some similarities to enterprises such as these, it will be significantly different.

I'll save my uncharitable remark for a week after you fail, rather than three weeks before.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
CoinHedger (OP)
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May 21, 2013, 09:17:46 PM
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I'll save my uncharitable remark for a week after you fail, rather than three weeks before.

Thank you! We appreciate your encouragement. The awesome thing about free markets is that they provide natural mechanisms to incentivize creativity and innovation. They reward unique, new ideas and new businesses that fulfill market needs. Will CoinHedger be a useful hedging site/tool for traders in the bitcoin market? I certainly think it has the potential, otherwise I would not be wasting my time or my bitcoin to launch it. We look forward to having the market decide if our operation adds value to the community.

Only time will tell.  Wink
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