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Author Topic: Bitoption Status Thread  (Read 7602 times)
bitoption
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June 06, 2011, 03:41:00 AM
Last edit: June 18, 2011, 09:08:26 PM by bitoption
 #1

Hi all, I'll be keeping track of bitoption up and down notices here.

Back up from our DDOS attack. Hopefully that's it for now.

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bitoption
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June 06, 2011, 07:26:17 AM
 #2

Update: We're up, and (I think, looking good).

Are you short bitcoin? You can come take 2 BTC off me by buying me July 28 Calls. They'll expire out of the money if BTC are under $20 US per.

https://bitoption.org
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June 09, 2011, 10:30:00 PM
 #3

I'll be taking the market down for 20 minutes or so shortly to switch over the default system to price USD-BTC, not reverse.
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June 09, 2011, 10:52:47 PM
 #4

Update, all this comes from wanting to denominate prices in BTC.

Flipping calls / puts is fine, but consider, how will they be denominated? If in BTC, then 1 unit = 1 BTC, what people are imagining. But, you can't then PAY in BTC for the puts/calls because you have weirdly non-linear payout streams.

The right thing to do is charge in USD for these options. It's going to take a little more time than 20 minutes, though. Sorry. We have a few outstanding options; you'll be contacted to see what you'd like to do with them.


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June 10, 2011, 12:11:40 AM
 #5

Market is up. It now works like everyone thought it should the whole time. Enjoy!
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June 10, 2011, 09:24:41 AM
Last edit: June 10, 2011, 10:05:23 AM by FreeMoney
 #6

Getting this for balance: {"obligations": {"msg": "Obligations includes all written unexercised contracts", "usd": "0", "btc": "0"}, "balances": [["BTC", "0.000000"], ["USD", "0.000000"]]}

after 8 confirms.

edit: showed up, is it really that many confirms required?

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Enky1974
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June 10, 2011, 11:46:40 AM
 #7

my call disappeared but in my balancethe money is missing,
i've [["BTC", "0.717200 
i bought 1 call for 0.28 (strike 20 for 28 july) that now doesnt show up under my contracts
what happened?

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bitoption
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June 10, 2011, 02:42:08 PM
 #8

Enky,

It should still be in the system; I didn't wipe any purchases contracts. PM me with your login info or mail met at admin@bitoption.com; I can't match your name here to any logins on the exchange.

Also, we can review your entire balance together since every transaction is logged, and make sure you've got everything.
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June 11, 2011, 02:28:13 AM
 #9

How to cancel an offer?

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bitoption
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June 11, 2011, 04:34:17 AM
 #10

Right now, API, or PM me. In the next 12 hours, there should be a web interface.
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June 11, 2011, 09:22:44 AM
 #11

Right now, API, or PM me. In the next 12 hours, there should be a web interface.

Oh, okay. It's not a big deal. I don't mind the offer I made, just wanted to make a different one and solved that problem by depositing more.

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bitoption
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June 12, 2011, 05:46:18 AM
 #12

Canceling and Exercising is up and running; login and click "My Contracts."

(Did I really sell $45 july 28 calls a couple days ago? Wow!)


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June 12, 2011, 05:42:23 PM
 #13

Canceling and Exercising is up and running; login and click "My Contracts."

(Did I really sell $45 july 28 calls a couple days ago? Wow!)




Exchanging to USD seems to fail without giving any message.

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June 13, 2011, 12:21:25 AM
 #14

Works now, I figured out that MtGox was down, that's all. Still it should mention the failure. I didn't know if it was no go or slow go or what.

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bitoption
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June 13, 2011, 01:58:25 AM
 #15

Thanks for the update. Yes, we rely on Gox, and should have better error messages there. Sorry if it was an untimely difficulty. Kind of a crazy trading day today!
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June 13, 2011, 05:07:05 AM
Last edit: June 13, 2011, 05:20:17 AM by DamienBlack
 #16

Hello, I sent in 2 btc, and they haven't shown up yet even though there are 8 conformation. I'm not really that worried, but I wanted to report a bug. When I click "balance" I just get a box that says

{"obligations": {"msg": "Obligations includes all written unexercised contracts", "usd": "0", "btc": "0"}, "balances": [["BTC", "0.000000"], ["USD", "0.000000"]]}

I was also wondering, when I exercise a call, do I have to have the USD to buy in my balance or do I get a chance to immediately liquidate the BTC and pay out of that?

EDIT: The bitcoins showed up, thanks. But I could still use an answer about liquidation.
bitoption
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June 13, 2011, 05:37:24 AM
 #17

Hi Damien,

Welcome!

You need the right currency to exercise, but you could rinse/repeat/cycle if you only have enough to do one at a time; so, exercise one, sell BTC, exercise one (or two), repeat.

We may eventually allow netting, but I need to make sure that the exchange doesn't take on exchange risk doing that.

Enjoy, and happy trading!
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June 13, 2011, 05:47:51 AM
 #18

Ok thanks. I'll keep that in mind as I trade.
bitoption
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June 14, 2011, 01:56:36 PM
 #19

Our Site is down while Gox gets back on its feet post-DDOS.

Normally we can function in 'reduced functionality' mode, but the error checking isn't quite good enough to catch the current circumstance.

Updates here as it comes.
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June 14, 2011, 02:19:50 PM
 #20

Back up.
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