cuddlefish (OP)
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June 10, 2011, 06:45:58 PM Last edit: June 10, 2011, 07:53:38 PM by cuddlefish |
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Up to 5 BTC per user. 1% premium. American-style.EDIT: European-style, price broke $20.
(Will also do Monday June 13th for a 1.5% premium)
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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demonofelru
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June 10, 2011, 06:51:43 PM |
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How would the premium be paid and if exercised how could we get the funds to you?
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Names do not matter; however, if you insist...id...
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cc5alive
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June 10, 2011, 06:53:42 PM |
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Are you selling them for $20, or at a $20 strike? If so, how much? What documentation are you providing?
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cuddlefish (OP)
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June 10, 2011, 07:00:05 PM |
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How would the premium be paid and if exercised how could we get the funds to you?
All payments would be done through MtGox's Send Funds. Are you selling them for $20, or at a $20 strike? If so, how much? What documentation are you providing?
At a $20 strike. Up to 5 BTC per user. Premium is 1% of the amount.
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warmtrophy
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June 10, 2011, 07:26:11 PM |
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Can you clarify?
So each contract is worth 5 BTC, 5 x $23.6 = $118 x .01% = $1.18 each contract?
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cuddlefish (OP)
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June 10, 2011, 07:35:17 PM |
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Can you clarify?
So each contract is worth 5 BTC, 5 x $23.6 = $118 x .01% = $1.18 each contract?
Yes, at current exchange rates that'd be $1.18 for a 5 BTC (maximum) contract.
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JellyfishRancher
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June 10, 2011, 07:37:59 PM |
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How would we pay, and how are we assured the coins?
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warmtrophy
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June 10, 2011, 07:39:05 PM |
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Ok, I'll take 5 contracts, let me know payment details.
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cuddlefish (OP)
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June 10, 2011, 07:40:22 PM |
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Ok, I'll take 5 contracts, let me know payment details.
1 contract per user, value can be up to 5 BTC. Sorry if I didn't make that clear.
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cuddlefish (OP)
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June 10, 2011, 07:41:50 PM |
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How would we pay, and how are we assured the coins?
You would pay through MtGox if you exercise it (paying the 5 BTC) and the premium can also go through Gox, or through the Bitcoin network proper. You'd get paid in MtGox USD.
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warmtrophy
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June 10, 2011, 07:46:16 PM |
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Understood, pm or let me know the total & address to send $
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cuddlefish (OP)
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June 10, 2011, 07:50:04 PM Last edit: June 10, 2011, 08:05:33 PM by cuddlefish |
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Understood, pm or let me know the total & address to send $
Pay the premium through MtGox BTC, send to email natetheis Spaghetti gmail.com. (Replace Spaghetti with @. I don't like spam ) Just to set this in stone: At any point on or before June 13th, Pacific time, the user warmtrophy may send cuddlefish 5 BTC through MtGox, and recieve 100 MtGox USD through the email he sends payment from. --EDIT EDIT EDIT-- All new options are now European-style as the price has broken $20.
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warmtrophy
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June 10, 2011, 08:02:45 PM |
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The price did not break $20 on Mtgox, the exchange we are using for premium payment and settlement, so the money I sent earlier for the contract, should still be American style.
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cuddlefish (OP)
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June 10, 2011, 08:04:53 PM |
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The price did not break $20 on Mtgox, the exchange we are using for premium payment and settlement, so the money I sent earlier for the contract, should still be American style.
Yes, your option was paid prior to the change. It is still American-style. Oh, I also need your MtGox email address, turns out that's not displayed to me.
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bitoption
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June 10, 2011, 08:13:18 PM |
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Cuddlefish, Why not just list these on bitoption.org? We escrow all accounts, and take care of the hassle. https://bitoption.org
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cuddlefish (OP)
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June 10, 2011, 08:18:28 PM |
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Cuddlefish, Why not just list these on bitoption.org? We escrow all accounts, and take care of the hassle. https://bitoption.orgThat only creates more hassle. If there is interest on buying through bitoption, I will do it there too.
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lemonginger
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June 10, 2011, 08:31:50 PM |
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actually never broke 20 on mtgox,but got close. is back up to 23 now. I am confused though, what is purpose of a put without leverage? ie if someone is sending you 5 btc now and you are sending them $100 now, why wouldn't they just sell their btc on open market?
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cuddlefish (OP)
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June 10, 2011, 08:37:23 PM |
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actually never broke 20 on mtgox,but got close. is back up to 23 now. I am confused though, what is purpose of a put without leverage? ie if someone is sending you 5 btc now and you are sending them $100 now, why wouldn't they just sell their btc on open market?
They didn't have to send now, just the premium.
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jibjabz
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June 10, 2011, 08:56:00 PM |
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Lots of resistance at $20 (as I'm sure you knew when you posted this). Still I could definitely see it being broken.
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cuddlefish (OP)
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June 10, 2011, 08:57:52 PM |
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Lots of resistance at $20 (as I'm sure you knew when you posted this). Still I could definitely see it being broken.
Frankly, I'm calling the "BITCOIN CRASHING" people's bluffs.
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