Satoshi Option - Instant Binary Options | On-Site Wallet | Open Source BTC Feed

[stshiOption]

www.satoshioption.com

We're announcing release of the first binary options trading platform designed exclusively for bitcoin - Satoshi Option!

Inspired by SatoshiDICE, to trade you simply send bitcoins to a specific address, and your trade is executed with zero confirmations. Unlike SatoshiDICE, there are no random number generators involved - just real market data. If you are not familiar with what a binary option is, you may know it as a fixed return option, or digital option. Quite simply, a binary options is a financial tool that allows you to predict if the market price of an asset will rise or fall within a certain time period.

Once you send your bitcoins to the address that represents your decision, you simply wait 60 seconds and if you predicted the movement of the asset's price correctly, you will recieve your return almost instantly. Just like in SatoshiDICE.

This is an early beta release, and we're very keen to gain lots of feedback from the Bitcoin community. Please test out our site with small trades (a 0.1 BTC limit is in place for now).

Good luck, and have fun!

OPEN SOURCE BTC PRICE FEED

To allow independent verification of our BTC price feed, the source is available as a standalone Node.js module:
http://pastebin.com/u0PSarFs

Note that due to weighting of exchanges in the underlying mid price driving the feed, your own price may take some time to converge with our price when you first run the module. This process is completely transparent and included in the source above for you to verify.

[1714849158]

1714849158

[1714849158]

1714849158

[1714849158]

1714849158

[1714849158]

1714849158

[🏰 TradeFortress 🏰]

Please download the source of the pricing module: http://pastebin.com/u0PSarFs

Run this with node.js (npm install all prerequisites), and reply here with if you get the same price point as SatoshiOption or not.

[MPOE-PR]

See here, as usual.

[stshiOption]

trade gambling

Well you could argue that all stock market activity is gambling - you take a view on a stock and if you're right, you win! The difference is, predicting the market takes skill, you're not just rolling a dice

[stshiOption]

See here, as usual.

Thanks MPOE, we've already read your article, and it's a great read.

We're not looking for investment though - at the moment all users need to trust us with is their <=0.1BTC stake, for 60 seconds. And of course, everyone can check the block chain to see we always pay out as promised!

[chriswen]

Interesting, you should give options for different time horizons.

Also, you process immediately but do you wait for confirmations before returning?

[playtin]

What is the data source for the real time ticker?

[chriswen]

What is the data source for the real time ticker?

Yeah what data are you using?

I thought it was mtgox bitcoin and then i checked again and it was EUR/USD.

Interested in knowing what data you're using.  See, the time horizon is so short + the fact that I don't know what data you're using.

[🏰 TradeFortress 🏰]

If you had a longer time it'd be less gambling.

Also, there's some market for BTC/USD CFDs, 1broker closed because they were running a bucket shop and people just traded pennies on gox. You should use the API and actually back the positions.

[stshiOption]

Thanks for your comments.

We're soon to implement additional durations, and we'd be interested to get your feedback on what might be of interest to you.

We're thinking of adding a few more short term durations, but also some longer ones. For example, 2 minutes, 5 minutes, 15 minutes, 30 minutes, 60 minutes, 3 hours and EOD and EOM.

In the spirit of only building what people want, in the order they want it, we'd be interested to go ahead with whatever is the most popular time period. We'll then be able to factor this in with what we're capable of doing.

Regarding the pricing of the data. We're not using a bid, or ask, or even a last trade price. We're using a custom price that can be validated against any 3rd party source or existing Binary Option website (try 24option.com for example).

Finally, we're soon to offer shares, commodities and indices, if these are of interest to people.

Look forward to hearing your thoughts.

[playtin]

Regarding the pricing of the data. We're not using a bid, or ask, or even a last trade price. We're using a custom price that can be validated against any 3rd party source or existing Binary Option website (try 24option.com for example).

How can you validate a "custom" (made up by you) price against a 3rd party? So please elaborate.

[stshiOption]

Sorry, you're right, the statement was ambiguous. The data does not originate from one source, so that's what I meant by custom. If you would like to verify our data against a 3rd party, try EUR/USD over at www.24option.com and compare them side by side. Furthermore, if you have live data available with your forex broker, you can do the same thing there. We may differ slightly from your forex broker, only by sub pip fractions.

[001sonkit]

Good site for anyone who somehow got a clue from other real time site chart. So far 2 wins. Just would like to suggest that other than the instant "pop-a-coin" spam-chain gambling method.Would it be able to have a deposit based method. So options trader can react more instantly with your site and reduce the cost for micro-traders (As i see you deduct 0.0005BTC for my winnings)

[stshiOption]

Good site for anyone who somehow got a clue from other real time site chart. So far 2 wins. Just would like to suggest that other than the instant "pop-a-coin" spam-chain gambling method.Would it be able to have a deposit based method. So options trader can react more instantly with your site and reduce the cost for micro-traders (As i see you deduct 0.0005BTC for my winnings)

Thanks for the feedback

A deposit-based method is something we might look at in the future. For now, we'd like to keep things simple and avoid all the complexities of login, holding user's money, etc... But of course, if the demand is there, it can be done.

And yes, we always include the 0.0005BTC miners' fee on winnings. This becomes negligible for larger bets though.

Glad you like the site!

[SRoulette]

See here, as usual.

Thanks MPOE, we've already read your article, and it's a great read.

We're not looking for investment though - at the moment all users need to trust us with is their <=0.1BTC stake, for 60 seconds. And of course, everyone can check the block chain to see we always pay out as promised!

For this type of service (and most others) #bitcoin-otc is old and completely irrelevant.
You results are are transparent and verifiable like ours

And yes, we always include the 0.0005BTC miners' fee on winnings. This becomes

Always good to see another well behaved bitcoin business

A small bit of feedback, adblock screws with your page - Id advise users to disable it.
While I like black myself, its not a good colour for a website.
In chrome, there is a large empty space before the betting table.


welcome to the Satoshi*.com family  

edit: We just gave you a plug on our chat box

[MPOE-PR]

For this type of service (and most others) #bitcoin-otc is old and completely irrelevant.

There are three types of idiots in this world. One says "this is old and therefore good". The other says "this is new and therefore better".

And then there's people like you, going "this thing isn't impressed with me so therefore I am better than it". No baby, you're not. The WoT is still the standard, you're still a wanna-be dice op thing. This situation will continue indefinitely, inasmuch as the only way it can change is by you submitting to it.

[🏰 TradeFortress 🏰]

Bitcoins won: ∞

[stshiOption]

Thanks for the support SRoulette, and for the feedback, it's much appreciated!

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

[playtin]

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

Would you reveal which exchange you use for the rate?

[🏰 TradeFortress 🏰]

Thanks for the support SRoulette, and for the feedback, it's much appreciated!

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

Seriously? Don't give another bullshit as "custom source".

Please explain how the price can update when I don't even see a trade on any of the major exchanges.

Use data from one large exchange.