galbros
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Merit: 1000
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May 01, 2015, 07:29:25 AM |
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If you are not trolling, which I figure is 50/50, you did get a good deal on the option. As a bitcoin fan I obviously hope you don't make a lot of money on your investment but for only $7.50 per bitcoin I think that is a great price. After all 3 months ago bitcoin was at what, $300+?
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manselr
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Activity: 868
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May 01, 2015, 07:06:59 PM |
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Im sorry but I just can't believe you just bought 10K BTC like it's nothing without providing any proof. IF you are going to go as far as saying it on a public forum, you could at least provide some sort of evidence.
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EternalWingsofGod
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 02, 2015, 05:14:26 AM |
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Mircea and her shenanigans Anyways post the relevant Bitcoin-Assets thread and log for evidence if you did take the bet. Seems like a fun one if you actually have the money to put up. Or if the offer is open to all users would like to see who bites on this ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) I thought Mircea (Popescu) was a guy and was running a gambling site.. Or am I wrong and it was an exchange? Wasn't it the guy called by the US agency to give info about his business to them? Your correct partially, Mircea was a guy the person on the forums a long while back was portrayed as a girl And mpex is technically an investment site and exchange. That said one of their assets is a betting site (bitbet) so I can see why you got confused. And yep that was the one also about Eric Vorhees and said FU lol.
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redwine77
Newbie
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Activity: 28
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May 02, 2015, 05:37:31 AM |
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Are there reliable(or half-reliable) sites to trade btc options?
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WhatsBitcoin (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 02, 2015, 07:01:15 AM |
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Cmon bitcoin drop now and make me money... ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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Get sick. Get well.
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Q7
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 02, 2015, 08:18:02 AM |
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I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
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jwcastle
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 02, 2015, 08:34:58 AM |
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It's like betting on the horses. It's a long shot, but I suppose you could make as much as 5 to 1 odds on it. How credible is the person or organization selling you the option? How credible are you to pay up if it goes the other way? Seems like a scam for everyone involved.
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Phat Buzz Tart
Member
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Activity: 308
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May 02, 2015, 08:27:24 PM |
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Found MPEX's owner in #bitcoin-assets who offered me a great deal (In my opinion) on a 3 month put option on the price of BTC tied to Bitfinex last ask price.
Strike price of $215 USD
Fee of $7.50 USD in BTC per BTC optioned.
Time for you all to lose your pants, socks, sweaters and all in BTC and for me to make THOUSANDS!
This is going to prove either a very smart or a very dumb move IMO. One thing is for certain: It's a gamble. I hope you put down only what you can afford to lose.
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bitbollo
Legendary
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Activity: 3360
Merit: 3683
Nec Recisa Recedit
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May 02, 2015, 08:37:09 PM |
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without the proof there is people that sell also tour effeil for sure. probably it was only a 1 btc put option ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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| | . .Duelbits. | │ | ..........UNLEASH.......... THE ULTIMATE GAMING EXPERIENCE | │ | DUELBITS FANTASY SPORTS | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ████████████████▀▀▀ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | . ▬▬ VS ▬▬ | ████▄▄▄█████▄▄▄ ░▄████████████████▄ ▐██████████████████▄ ████████████████████ ████████████████████▌ █████████████████████ ███████████████████ ███████████████▌ ███████████████▌ ████████████████ ████████████████ ████████████████ ████▀▀███████▀▀ | /// PLAY FOR FREE /// WIN FOR REAL | │ | ..PLAY NOW.. | |
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cozk
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May 03, 2015, 02:16:28 PM |
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chriswen
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May 04, 2015, 02:33:52 AM |
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The things that's so risky with bets like this (it's a bet, basically) and shorts/longs on margin is the mere fact that the volatility can wipe you out completely, even if the general direction is in your favor. By just holding coins, this can't happen to you.
You can't get wiped out when you purchase options.
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chriswen
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May 04, 2015, 02:42:22 AM |
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Im sorry but I just can't believe you just bought 10K BTC like it's nothing without providing any proof. IF you are going to go as far as saying it on a public forum, you could at least provide some sort of evidence.
He didn't buy 10k BTC, he bought a 10k BTC Put option. Are there reliable(or half-reliable) sites to trade btc options?
There's coinut.com but you won't get anything close to that amount of volume. You'd need to make OTC deals. I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
If it doesn't turn out he loses $75 000. If it does turn out he'll make $75000 for every $7.5 the price goes under 207.5.
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Mt. Gox
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 04, 2015, 04:29:20 PM |
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Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000. I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months? I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date.
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Dear GOD/GODS and/or anyone else who can HELP ME (e.g. MEMBERS OF SUPER-INTELLIGENT ALIEN CIVILIZATIONS): The next time I wake up, please change my physical form to that of FINN MCMILLAN of SOUTH NEW BRIGHTON at 8 YEARS OLD and keep it that way FOREVER. I am so sick of this chubby Asian man body! Thank you! - CHAUL JHIN KIM (a.k.a. A DESPERATE SOUL) P.S. If anyone is reading this then please pray for me! [ www.chauljhin.com ]
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manselr
Legendary
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Activity: 868
Merit: 1006
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May 04, 2015, 05:16:45 PM |
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Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000. I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months? I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date. I don't get how this works. How can he acquire 10000 for 75$? Where is the business for the one offering the BTC for such price? I guess im missing the point here.
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Mt. Gox
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
May 04, 2015, 05:50:15 PM |
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Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000. I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months? I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date. I don't get how this works. How can he acquire 10000 for 75$? Where is the business for the one offering the BTC for such price? I guess im missing the point here. He didn't acquire 10,000 BTC. Here's a short explanation of put options: If you are betting against bitcoins, what you want to do is buy a put option, which is a derivative contract that allows you to sell something at a set price. If the actual price of the thing falls below the set price, or strike price, you make money. It cost $75,000 for OP to buy a put contract to sell 10,000 BTC at a strike price of $215 per bitcoin. The contract expires in three months and will expire worthless if the price of a bitcoin is above $215 at that point. But the value of the contract will go up before then as long as the value of a bitcoin drops. If the price of BTC is $207.50 then OP could sell 10,000 BTC for $215 making 7.50*10,000 = $75,000. Since the contract cost $75,000, he would be neutral overall. If the price of BTC is $200 then OP could sell 10,000 BTC for $215 making 15*10,000 = $150,000. Since the contract cost $75,000, he would have made a $75,000 profit, and so on. The lower the price of Bitcoin is, the more OP benefits.
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Dear GOD/GODS and/or anyone else who can HELP ME (e.g. MEMBERS OF SUPER-INTELLIGENT ALIEN CIVILIZATIONS): The next time I wake up, please change my physical form to that of FINN MCMILLAN of SOUTH NEW BRIGHTON at 8 YEARS OLD and keep it that way FOREVER. I am so sick of this chubby Asian man body! Thank you! - CHAUL JHIN KIM (a.k.a. A DESPERATE SOUL) P.S. If anyone is reading this then please pray for me! [ www.chauljhin.com ]
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Jesse Livermore
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May 06, 2015, 02:36:20 AM |
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I wonder if you really have enough money to buy 10k bitcoin's Since you still join a signature campaign ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Or still want to have more bitcoin Bitcoin is going to 150-175 in the next three months which by my estimate of 170 will net me $375,000. After conversion fees and hiding said money lets say $300,000. Nice. And you bet my ass I will be using Bitmixer to mix my coins too. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Wait....BUY 10,000 BTC...LOL sir...do you know what an option EVEN IS? Wow, perusing BCT I came upon this... Wow, Whatsbitcoin is going to make $300k because bitcoin IS going to bottom out somewhere around $170 within the next 60 days. Sure hope his counterparty in this trade has hedged all risk on this trade because it'd be a shame if Whatsbitcoin gets screwed after making this awesome trade. JL
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I own a DASH Masternode.... And you should too.
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Bit_Happy
Legendary
Offline
Activity: 2114
Merit: 1040
A Great Time to Start Something!
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May 06, 2015, 03:29:24 AM |
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Found MPEX's owner in #bitcoin-assets who offered me a great deal (In my opinion) on a 3 month put option on the price of BTC tied to Bitfinex last ask price.
Strike price of $215 USD
Fee of $7.50 USD in BTC per BTC optioned.
Time for you all to lose your pants, socks, sweaters and all in BTC and for me to make THOUSANDS!
Your chance of making "THOUSANDS" is extremely low, good luck with your purchase, you are going to need lots of luck.
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Shindo1988
Full Member
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Merit: 100
Bitcoin Samurai
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May 06, 2015, 08:18:50 AM |
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Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000. I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months? I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.
You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date. I don't get how this works. How can he acquire 10000 for 75$? Where is the business for the one offering the BTC for such price? I guess im missing the point here. He didn't acquire 10,000 BTC. Here's a short explanation of put options: If you are betting against bitcoins, what you want to do is buy a put option, which is a derivative contract that allows you to sell something at a set price. If the actual price of the thing falls below the set price, or strike price, you make money. It cost $75,000 for OP to buy a put contract to sell 10,000 BTC at a strike price of $215 per bitcoin. The contract expires in three months and will expire worthless if the price of a bitcoin is above $215 at that point. But the value of the contract will go up before then as long as the value of a bitcoin drops. If the price of BTC is $207.50 then OP could sell 10,000 BTC for $215 making 7.50*10,000 = $75,000. Since the contract cost $75,000, he would be neutral overall. If the price of BTC is $200 then OP could sell 10,000 BTC for $215 making 15*10,000 = $150,000. Since the contract cost $75,000, he would have made a $75,000 profit, and so on. The lower the price of Bitcoin is, the more OP benefits. Wait, I am confused. So, this is like a guessing game? He placed a bet, estimating that the price of Bitcoin will be under $215, and if it is he wins, if it's not he loses. Is that right?
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louise123
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May 06, 2015, 08:19:45 AM |
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Yeah, can someone please explain to me how this put options thing works? I have never heard of it before, then again I am not a gambler ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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