I would like an option to buy 2100 Bitcoins for $100 each on December, 2013.

[Cara Navarre]

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?

[smoothie]

How would anyone ensure that you won't flake out on the purchase?

[Cara Navarre]

How would anyone ensure that you won't flake out on the purchase?

I have the right to purchase, the option to purchase. This is an options contract.

The seller only has an obligation to sell if I choose to buy. That's why I am willing to pay money for this contract to be made.

I have to ensure the seller of the Bitcoins will sell when and if I purchase.

[Bitcoin Oz]

I think you would need a 25% deposit with an escrow.

[Cara Navarre]

I think you would need a 25% deposit with an escrow.

No, no, I don't. Not with this options contract.

The seller of the Bitcoins may need to do so to ensure I can execute my right to purchase.

With this options contract, I have no obligation to purchase. The seller has an obligation  to sell if its called for.

What I have to do is pay a fee upfront for this contract to be made.

[fcmatt]

No problem. Wire me 30k and i will make it happen. Contract plus a bar of chocolate.

[Cara Navarre]

No problem. Wire me 30k and i will make it happen. Contract plus a bar of chocolate.

30k in Bitcoins or US Dollars?

[OgNasty]

I'll do it for $27,500.

[teek]

$24,900

[Cara Navarre]

Unless there are more offers, I will report these bids to my client.

Thank you!

[joshbb]

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.

[Cara Navarre]

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.

[Vladimir]

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?

[Littleshop]

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 i.e. 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).

I was gonna offer to do it for $5000 but if you are willing to do it for $4000 I would not compete with that.

[Cara Navarre]

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 i.e. 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).

If my client is ready, we'll be in touch.  Thank you.

[Vladimir]

I've corrected a mistake in my post. Exercise price should be not 100£ but 100$ (USD) as in your subject line.

[Le Happy Merchant]

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.

[Cara Navarre]

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.

If you don't think I am going to buy and want an easy $4000, this contract is for you.

[Tomatocage]

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.

^ I like this guy.

[Vladimir]

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)