|
Possum577 (OP)
|
 |
November 13, 2015, 03:23:11 AM |
|
If you read some of the service discussion threads you'll find some complaints that Coinut is a bit late paying it's signature and avatar campaign payments.
Anyone who uses Coinut for options trading having trouble getting paid?
Maybe Coinut find itself on the wrong side of the bets during the last big BTC run up and pull back...could it be?
|
|
|
|
|
|
|
|
|
|
|
|
|
In order to achieve higher forum ranks, you need both activity points and merit points.
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
achow101
Staff
Legendary
 Offline
Activity: 3388
Merit: 6578
Just writing some code
|
|
November 13, 2015, 03:32:49 AM |
|
No, I don't think so. It isn't how their game works. Coinut doesn't pay anything, it is actually between users, not between coinut and the users. So they don't have any money at stake. They just make money off of fees.
|
|
|
|
|
Possum577 (OP)
|
|
November 13, 2015, 03:49:28 AM |
|
No, I don't think so. It isn't how their game works. Coinut doesn't pay anything, it is actually between users, not between coinut and the users. So they don't have any money at stake. They just make money off of fees.
They make more than money off fees. They have to back the option transaction. They're not matching a buyer of BTC $350 calls AND a buyer of BTC $350 puts...there's not nearly enough business for them to do that. They have to be taking the other side of the transaction and adjusting the spread/fees to help them manage their risk. Fees will limit how many people take one position vs. another. E.g., I buy a call for BTC to rise above $350. A week later, BTC is at $500. I win! Coinut has to pay me my winnings (which would be the difference of what I paid and what the in-the-money option is worth at the time I decide to collect or the option expires.) Let me know if Coinut runs things different, but they're definitely at risk on these transactions. That's how options work. |
|
|
|
DaddyMonsi
Legendary
Offline
Activity: 1344
Merit: 1006
|
|
November 13, 2015, 03:54:07 AM |
|
wangxinxi has been on and off the forum (Last Active: November 12, 2015, 11:28:04 AM) but I'm sure he knows whats the complaints of the site users and those he hired for to promote the site however, no word from him on what's the status.
EDIT: Is this suppose to be in the reputation section?
|
|
|
|
|
|
teddy5145
|
|
November 13, 2015, 03:58:22 AM |
|
Most likely he lose a big coins in this price run  Just FYI i haven't receive my last payment and i been waiting for almost a week now Let's hope waxinxi doesn't run from his resposibility |
|
|
|
|
|
Possum577 (OP)
|
|
November 13, 2015, 04:40:45 AM |
|
wangxinxi has been on and off the forum (Last Active: November 12, 2015, 11:28:04 AM) but I'm sure he knows whats the complaints of the site users and those he hired for to promote the site however, no word from him on what's the status.
EDIT: Is this suppose to be in the reputation section?
I've never heard of a reputation section, but this was not intended to be about reputation. I hope it's only that Wangxinxi has been busy and away. I like their service a lot. It's very cool to have bitcoin options...I hope they aren't going anywhere! |
|
|
|
|
FrostStick
|
|
November 13, 2015, 04:47:01 AM |
|
Is this associated with coinut's recent signature campaign payout drop as well? And I heard they refused to pay their members in the old rates although the members are more than halfway through the week wearing their signature.
|
|
|
|
|
|
Possum577 (OP)
|
|
November 13, 2015, 04:52:05 AM |
|
Is this associated with coinut's recent signature campaign payout drop as well? And I heard they refused to pay their members in the old rates although the members are more than halfway through the week wearing their signature.
Yes, some of the complaints I've read are related to that. I just see a few different opportunities for them to minimize their costs by either lowering payments or not making payments at all...and it's all conveniently at the same time that they could have taken a huge hit on a bad bet with the rise and fall of the BTC price. In options, what Coinut offers, they win when the price doesn't move. They lose, potentially alot, when the price does move. I was hoping someone who uses Coinut may be able to share some thoughts... |
|
|
|
favdesu
Legendary
Offline
Activity: 1764
Merit: 1000
|
|
November 13, 2015, 09:32:42 AM |
|
I doubt the signature campaign has anything to do with them operating the site. They're always paying kind of delayed, at least since I'm in.
|
|
|
|
|
Mickeyb
|
|
November 13, 2015, 01:40:49 PM |
|
Is this associated with coinut's recent signature campaign payout drop as well? And I heard they refused to pay their members in the old rates although the members are more than halfway through the week wearing their signature.
Yes, some of the complaints I've read are related to that. I just see a few different opportunities for them to minimize their costs by either lowering payments or not making payments at all...and it's all conveniently at the same time that they could have taken a huge hit on a bad bet with the rise and fall of the BTC price. In options, what Coinut offers, they win when the price doesn't move. They lose, potentially alot, when the price does move. I was hoping someone who uses Coinut may be able to share some thoughts... Yes, but how much money will they really save by doing this to their signature campaign participants? I mean even if you cut their rates and you refuse to pay old rates in the middle of the week, what can you save? 1 btc at maximum maybe or not eve that much! If they are looking to save 1 bitcoin then they and their company are absolutely doomed. I hardly believe this is the case. And people in their campaign say that they are always late with the signature campaign payments! |
|
|
|
|
izanagi narukami
Legendary
Offline
Activity: 2030
Merit: 1028
|
|
November 13, 2015, 05:15:52 PM |
|
I doubt the signature campaign has anything to do with them operating the site. They're always paying kind of delayed, at least since I'm in.
They always late to pay, but this time is longest than before. wangxinxi dan izanagi haven't active since few days ago, this make me worry. But, i'm sure they will pay us. They even attend Boost VC’s Tribe 6 too. No way they want damage their reputation just because signature campaign problem. I have contacted Wanxinxi about payment but I'm lack of response from him so I can't do nothing about payment |
|
|
|
|
Possum577 (OP)
|
|
November 13, 2015, 10:26:34 PM |
|
I doubt the signature campaign has anything to do with them operating the site. They're always paying kind of delayed, at least since I'm in.
They always late to pay, but this time is longest than before. wangxinxi dan izanagi haven't active since few days ago, this make me worry. But, i'm sure they will pay us. They even attend Boost VC’s Tribe 6 too. No way they want damage their reputation just because signature campaign problem. I have contacted Wanxinxi about payment but I'm lack of response from him so I can't do nothing about payment Izanagi, thanks for commenting here! Can you share what your usual process is with him? Is anything out of the ordinary at this point or is this the typical process for communications and response that you have with him? Thanks. |
|
|
|
botany
Legendary
Offline
Activity: 1582
Merit: 1064
|
|
November 14, 2015, 01:39:29 AM |
|
They seemed to have paid for the latest week of the signature campaign. So we can infer that their situation is not that bad.  |
|
|
|
|
|
Possum577 (OP)
|
|
November 14, 2015, 04:27:00 AM |
|
They seemed to have paid for the latest week of the signature campaign. So we can infer that their situation is not that bad. Ah, cool. Thanks for the update! This company is great...what the offer is great...I'd hate for them to disappear or fade away. |
|
|
|
|
teddy5145
|
|
November 14, 2015, 04:28:39 AM |
|
Good thing the situation is resolved now  But still i haven't receive any of my payments because izanagi has to fix the payment rates  Let's hope izanagi will fix it soon so everyone including me who quit the campaign get his payment asap Thank you izanagi for your hard work |
|
|
|
|
|
Possum577 (OP)
|
|
November 14, 2015, 04:31:43 AM |
|
Good thing the situation is resolved now But still i haven't receive any of my payments because izanagi has to fix the payment rates Let's hope izanagi will fix it soon so everyone including me who quit the campaign get his payment asap Thank you izanagi for your hard work Actually - the situation is not resolved. I just checked their campaign thread and they haven't paid Avatar posters for the previous month's payment...stay tuned for an update. |
|
|
|
MinerHQ
Legendary
Offline
Activity: 1456
Merit: 1023
|
|
November 15, 2015, 01:34:21 AM |
|
No, I don't think so. It isn't how their game works. Coinut doesn't pay anything, it is actually between users, not between coinut and the users. So they don't have any money at stake. They just make money off of fees.
What you said is correct for people who play the games but for signature campaign they need to pay from their pocket if they don't make so much profits from the site. I read some where on their thread that owner gave an answer for late payment or delayed payment that he is busy but that is not correct if and one is so much busy every week then he should offload his work to maintain a on time payments. |
|
|
|
|
DaddyMonsi
Legendary
Offline
Activity: 1344
Merit: 1006
|
|
November 15, 2015, 02:22:39 AM |
|
So this campaign did hire a campaign manager and Izanagi is playing that role and all he do is count and scrutinize posts and I believe Izanagi is doing a great job on that department, but whit that recent delay of payments, I think there should be a fund being held by an escrow to make sure participants are going to be paid on time in cases like campaign owner is very busy.
|
|
|
|
|
|
Harry Hood
|
|
November 15, 2015, 05:40:41 AM |
|
No, I don't think so. It isn't how their game works. Coinut doesn't pay anything, it is actually between users, not between coinut and the users. So they don't have any money at stake. They just make money off of fees.
What you said is correct for people who play the games but for signature campaign they need to pay from their pocket if they don't make so much profits from the site. I read some where on their thread that owner gave an answer for late payment or delayed payment that he is busy but that is not correct if and one is so much busy every week then he should offload his work to maintain a on time payments. Nah man, options don't work that way. Coinut definitely has to take a side. One who buys options from them is making a bet, if that person wins the bet Coinut has to pay out. As for their campaign, I'm still waiting for my Avatar payment for the last month. These guys are so tough to work with. |
|
|
|
|
