[WTB] BTC on Feb 11 2018

[TheButterZone]

Assuming the market price of BTC continues its decline of ~$1000 USD per day, it should hit $1 USD/BTC (in a manner of minutes or hours before it drops to $0) on Feb 11 2018.

I want to sign a purchase contract for Feb 11 2018 for 1000 BTC, at a rate of $1 USD per BTC.

$1,000 is the maximum that's legal in a 24 hour period, AFAIK.

I can pay with just about any payment method if you reimburse the fees.

Local rule: anyone who has posted in this topic before may not do so again

[1714020890]

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[1714020890]

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[Quickseller]

I want to sign a purchase contract for May 6 2015 for 1000 BTC minimum, at a rate of $1 USD per BTC.

LOL. If you find a seller that has more BTC for sale then you can buy then feel free to refer them to me. I would offer the inferior to your offer price of $0.99 per BTC but I could buy several thousand BTC worth

[EcuaMobi]

Assuming the market price of BTC declines $10 USD per day, it should hit $1 USD/BTC on May 6 2015.

I want to sign a purchase contract for May 6 2015 for 1000 BTC minimum, at a rate of $1 USD per BTC.

I can buy quantity larger than 1000 BTC if you want me to throw all my liquid USD and credit lines down. I can pay with just about any payment method if you reimburse the fees.

Just out of curiosity, how would this work? The person who signs the contract with you would have to sell them even if market price is $1,000 and you would have to purchase even if market price is $0.01? Any collateral or other type of guarantee must be provided?

BTW I can buy several thousands BTC at that price right now! Just in case the seller can't wait until the date posted by OP

[Quickseller]

It would be easy to guarantee this kind of trade. TBZ could give an escrow $1,000 worth of bitcoin that the escrow would sell on bitfinex, then the seller would provide the escrow 1,000 BTC. On May 6, 2015, TBZ would be given the 1,000 BTC and the escrow would purchase $1,000 worth of bitcoin on bitfinex and send the seller the corresponding amount of BTC that he can sell or do whatever else he wants with it

[EcuaMobi]

It would be easy to guarantee this kind of trade. TBZ could give an escrow $1,000 worth of bitcoin that the escrow would sell on bitfinex, then the seller would provide the escrow 1,000 BTC. On May 6, 2015, TBZ would be given the 1,000 BTC and the escrow would purchase $1,000 worth of bitcoin on bitfinex and send the seller the corresponding amount of BTC that he can sell or do whatever else he wants with it

Haha if the BTC1,000 would be locked for all that time anyway probably the seller prefers to receive the $1,000 right away instead. Just PM me!

[TheButterZone]

I want to sign a purchase contract for May 6 2015 for 1000 BTC minimum, at a rate of $1 USD per BTC.

LOL. If you find a seller that has more BTC for sale then you can buy then feel free to refer them to me. I would offer the inferior to your offer price of $0.99 per BTC but I could buy several thousand BTC worth

I doubt someone will want to sell more BTC than I can afford, but they are free to contact you directly based on this quote.

Just out of curiosity, how would this work? The person who signs the contract with you would have to sell them even if market price is $1,000 and you would have to purchase even if market price is $0.01? Any collateral or other type of guarantee must be provided?

I don't think either of those price points are likely on May 6 2015, but yes, they could make $0.99 USD/BTC profit off me as I would be bound to $1 USD/BTC.

We will be doing a double-signed PGP/GPG contract (I sign, then the counterparty signs they agree, combined with my signed message). Whoever breaks the contract gets neg trust for the amount of BTC reneged upon, which will be a brutal/suicidal hit to their trust rating.

It would be easy to guarantee this kind of trade. TBZ could give an escrow $1,000 worth of bitcoin that the escrow would sell on bitfinex, then the seller would provide the escrow 1,000 BTC. On May 6, 2015, TBZ would be given the 1,000 BTC and the escrow would purchase $1,000 worth of bitcoin on bitfinex and send the seller the corresponding amount of BTC that he can sell or do whatever else he wants with it

I won't be giving anyone BTC in this transaction.
I am willing to execute this trade earlier than May 6 2015, but I don't see why someone would want to sell their BTC for $1 USD/BTC on May 5 2015 when the market price is still $11 USD/BTC, or May 4 2015 at $21 USD/BTC and so on.

[Quickseller]

It would be easy to guarantee this kind of trade. TBZ could give an escrow $1,000 worth of bitcoin that the escrow would sell on bitfinex, then the seller would provide the escrow 1,000 BTC. On May 6, 2015, TBZ would be given the 1,000 BTC and the escrow would purchase $1,000 worth of bitcoin on bitfinex and send the seller the corresponding amount of BTC that he can sell or do whatever else he wants with it

I won't be giving anyone BTC in this transaction.

Well what the theory is that you would somehow purchase bitcoin with fiat, give it to the escrow then the escrow would sell the bitcoin with fiat (it is a way to give escrow fiat without actually giving them fiat).

While I do believe that you would be willing to uphold your end of the agreement, how I described would virtually eliminate any possibility that either party back out of the transaction.

[TheButterZone]

It would be easy to guarantee this kind of trade. TBZ could give an escrow $1,000 worth of bitcoin that the escrow would sell on bitfinex, then the seller would provide the escrow 1,000 BTC. On May 6, 2015, TBZ would be given the 1,000 BTC and the escrow would purchase $1,000 worth of bitcoin on bitfinex and send the seller the corresponding amount of BTC that he can sell or do whatever else he wants with it

I won't be giving anyone BTC in this transaction.

Well what the theory is that you would somehow purchase bitcoin with fiat, give it to the escrow then the escrow would sell the bitcoin with fiat (it is a way to give escrow fiat without actually giving them fiat).

While I do believe that you would be willing to uphold your end of the agreement, how I described would virtually eliminate any possibility that either party back out of the transaction.

If what you described worked perfectly (market price is $1 USD/BTC on May 6 2015), it would be a negative-sum game for the seller, who would lose 1) the escrow fee (if not a free escrow) 2) the exchange's/exchanges' fees to convert to/from BTC 3) slippage as the market price continued its decline past $1 before they could re-convert the BTC. The escrow would not be able to sell the 1000 BTC (or whatever) sent by the seller.

IMO, better to shitcan someone's trust for breaking the contract than them being guaranteed to feel slighted at the end of not breaking it.

Nice of you to self-moderate though to save us from the bullshit posts.

That's a good description of your posts. Thanks!

 What?  You post this -

I want to sign a purchase contract for May 6 2015 for 1000 BTC minimum, at a rate of $1 USD per BTC.

and we're supposed to take you seriously.

Do you seriously not have the ability to watch the market price of BTC falling ~$10 USD per day? Or are you seriously obsessed with leaving your bovine's feces on my topic? :p

[Michail1]

Just want to be clear.

You want to pay $1000 now to get 1000BTC if the price hits $1 on May 6th?
If so, I will happily sign that contract.

Or, you want to pay $1000 for 1000BTC on May 6th if the price hits $1 for 1BTC.

Or, you want to find a contract (option) to purchase 1000BTC at $1 each on May 6th.
- In this case, I would also be willing to sign such a contract; however, my price would be $225k.  Let me know if you need my bank information.

[TheButterZone]

Just want to be clear.

You want to pay $1000 now to get 1000BTC if the price hits $1 on May 6th?
If so, I will happily sign that contract.

Or, you want to pay $1000 for 1000BTC on May 6th if the price hits $1 for 1BTC.

Or, you want to find a contract (option) to purchase 1000BTC at $1 each on May 6th.
- In this case, I would also be willing to sign such a contract; however, my price would be $225k.  Let me know if you need my bank information.

This topic was based on the assumption that the rate of decline of BTC market price would continue to be $10 USD per day (it magically stopped hemorrhaging around the time I posted this topic) until May 6 2015, at which point the market price would reach $1 USD/BTC.

I wanted to sign a contract that on May 6 2015 I would pay $1 USD per BTC for a minimum of 1000 BTC, without regard to the market price (there was no "if", nor will there ever be an "if"). I still want to do so.

I do not sign contracts that have numbers or words in them which only my counterparty and competent lawyers (who I cannot afford) understand.

[Michail1]

Ok.

I would agree to sell you a contract (option) to purchase 1000BTC on May 6th @ $1 each for the price of $220k

[TheButterZone]

Ok.

I would agree to sell you a contract (option) to purchase 1000BTC on May 6th @ $1 each for the price of $220k

I do not sign contracts that have numbers or words in them which only my counterparty and competent lawyers (who I cannot afford) understand.

Do you wish to delete your posts or shall I?

[Michail1]

Ok.

I would agree to sell you a contract (option) to purchase 1000BTC on May 6th @ $1 each for the price of $220k

I do not sign contracts that have numbers or words in them which only my counterparty and competent lawyers (who I cannot afford) understand.

Didn't realize I said something complicated.

To lay it up....

You pay me $220,000 today.  I then sell you 1000BTC on May 6th for $1000.
PS.  You don't need to sign anything.  But, if you want, I would be happy to pay for the attorney.

[TheButterZone]

Didn't realize I said something complicated.

To lay it up....

You pay me $220,000 today.  I then sell you 1000BTC on May 6th for $1000.
PS.  You don't need to sign anything.  But, if you want, I would be happy to pay for the attorney.

I do not understand paying $221,000 for 1000 BTC at a rate of $221 USD/BTC when that bears zero relation to my OP terms or any conceivable rate of decline in BTC market price between now and May 6 2015. Someone with $221,000 to flush down the toilet could buy that much BTC right now.

Do you wish to delete your posts or shall I?

Correct me if I am wrong, but didn't you post a picture not long ago (maybe a few months) with someone logged into your bitcointalk account and was holding a bunch of $100 bills (it was well over 4 or 5)? Or am I thinking of someone else?

Please describe this in more detail, or link to it.

[Michail1]

Didn't realize I said something complicated.

To lay it up....

You pay me $220,000 today.  I then sell you 1000BTC on May 6th for $1000.
PS.  You don't need to sign anything.  But, if you want, I would be happy to pay for the attorney.

I do not understand paying $221,000 for 1000 BTC at a rate of $221 USD/BTC when that bears zero relation to my OP terms or any conceivable rate of decline in BTC market price between now and May 6 2015. Someone with $221,000 to flush down the toilet could buy that much BTC right now.

Do you wish to delete your posts or shall I?

A contract NOW to buy BTC at $1 in the future is to guarentee you the price.   Yes, you could buy it for $220k now.  But, what happens if price goes to $300 by May 6th.  In this case, you have the option to still buy them for $1 each.   So, it's not flushing $220k down the toilet if BTC actually goes up.

So, you don't want a contract or option.  if the price goes to $1 per bitcoin by that date, you could then buy 1000btc for $1000 at that time just like you could buy 1000btc for $220k now (not really since it would be closer to $230k).

Your post was unclear, so I tried to clarify what you're asking to do.

Sure, you can delete my posts, but that would make your thread more unclear again.

[TheButterZone]

A contract NOW to buy BTC at $1 in the future is to guarentee you the price.   Yes, you could buy it for $220k now.  But, what happens if price goes to $300 by May 6th.  In this case, you have the option to still buy them for $1 each.   So, it's not flushing $220k down the toilet if BTC actually goes up.

Nope, I still do not understand buying 1000 BTC for $220/$221k and calling it buying BTC for "$1 each" when $220,000/1000=$220/BTC no matter what point in time the numbers and functions are entered into a calculator.

So, you don't want a contract or option.  if the price goes to $1 per bitcoin by that date, you could then buy 1000btc for $1000 at that time.

I could because the contract would specify the payment method, date, amount of BTC, price for that amount of BTC, my BTC address, etc. Again:

there was no "if", nor will there ever be an "if"

just like you could buy 1000btc for $220k now (not really since it would be closer to $230k)

I can't buy 1000 BTC for $220k now. Someone else could, who actually has $220k.

Your post was unclear, so I tried to clarify what you're asking to do.

If this is how you try to "clarify", I can only imagine the hellscape you would paint in art school when directed to express the solution to 2+2=.

Sure, you can delete my posts, but that would make your thread more unclear again.

Maybe I'll leave them up as a monument for unclarity, after all.

Just out of curiosity, how would this work? The person who signs the contract with you would have to sell them even if market price is $1,000 and you would have to purchase even if market price is $0.01? Any collateral or other type of guarantee must be provided?

I don't think either of those price points are likely on May 6 2015, but yes, they could make $0.99 USD/BTC profit off me as I would be bound to $1 USD/BTC.

We will be doing a double-signed PGP/GPG contract (I sign, then the counterparty signs they agree, combined with my signed message). Whoever breaks the contract gets neg trust for the amount of BTC reneged upon, which will be a brutal/suicidal hit to their trust rating.

[TheButterZone]

bump

[hedgy73]

bump