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Author Topic: Any miner care to say why they're not using the X.IDIFF futures?  (Read 2663 times)
optimator
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April 30, 2013, 11:47:24 PM
 #21

Back to the X.IDIFF.JUN future.

I'm I correct in my understanding that I would purchase it today, for say 0.158 BTC.

Then:

a) when it settles, if difficulty is 20.8 mn, I would receive .208 BTC?

b) when it settles, if difficulty is 14.8 mn, I would receive .148 BTC?
No, the cover is actually lower and they expire before difficulty reaching 20m, but MP refused to disclose the exact value. Since it is a mix of futures created before March and after March, cover is somewhere between 2.9*2.9*January difficulty and 2.9*March difficulty. I don't have the numbers at hand but iirc it should be between 13 - 18 million satoshi. If anyone tries to sell you MPEx futures, ask him to run STATJSON and look for IMMCover value (and that's only for rough orientation, since it's averaged out over all people who created the futures).

If you're on Bitfunder, CoinBr.iDiff-E is covered up to 35 million, with same conditions/expiration date otherwise.


Can we try it again? I think your are talking about a reserve requirement necessary when selling X.IDIFF.JUN?

I'm asking what happens when you purchase a contract. I thought the contract settled on the third wednesday of the month for which they were listed?

So I still have my two questions.

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May 01, 2013, 05:00:23 AM
 #22

Can we try it again? I think your are talking about a reserve requirement necessary when selling X.IDIFF.JUN?

I'm asking what happens when you purchase a contract. I thought the contract settled on the third wednesday of the month for which they were listed?

So I still have my two questions.
All extant IDIFF shares together will never pay out more than sum of all reserve requirements that were set aside when they got created. Hence the 0.13-0.18 estimated maximal cover/payout. To answer your concrete questions:

> a) when it settles, if difficulty is 20.8 mn, I would receive .208 BTC?
In theory yes, but actually they will get autoexercised much sooner when the rising difficulty meets maximal cover.

> b) when it settles, if difficulty is 14.8 mn, I would receive .148 BTC?
Again yes, but only if the cover per share is more than 0.148 BTC.

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May 01, 2013, 11:43:48 AM
 #23

Got it. Thanks, it was the auto exercise for coverage requirements, I failed to consider.

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