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

[starik69]

What do you mean by "smoothing"?

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[jokerdragon]

Hello stshiOption .

I am very satisfied about your site, its clean and elegant, and it works pretty well.

But, (maybe a noob question )

I made a "bet" (I call trade, whatever it is gambling or not), so I made a winner trade:

1JipWtZ2p77KepaYxJaThPWv3NmRXbgDjy   Up   0.1   1365489243   1365489303   190.19064   190.38775   WIN

How do I receive this?  
I see no withdraw button. No place to enter an address. This address is the address I sent the 0.1 btc from? It will sent back? I send it from a MtGox account, it will work? I could wait to see if deposit come along, but maybe some others users have the same question. Thanks and good luck on your business, it looks real good.  


I think a explanation about this process will raise the courage of possible traders (or players, whatever).  

I am still waiting an answer about this. 

[stshiOption]

Hi Jokerdragon, very sorry for the slow reply. We've been working on our product and get held up.

As usual, TradeFortress is absolutely correct. Satoshi Option works in exactly the same way as SatoshiDICE and other popular gambling websites for bitcoin. Specifically, payouts are immediately sent back to the address from which they came as soon as the bet settles. Unfortunately, your winnings have been sent and have left our account. As we all know, bitcoins famously are non-refundable once sent. Mt. Gox are currently enjoying your stake and winnings right now. You would need to contact Mt.Gox directly to see if they can sort you out. Of course, we will do everything we can to help.

We currently don't offer a refund for this type of situation, but perhaps this is something we will look into.

@starik69, sometimes this happens, we don't know why. I guess if you can catch it on a spike you're in luck. As per our update on 30 March, our BTC/USD price updates based on the prices deltas (changes) from the different exchanges that we monitor. We'll look into this further and come back with a more detailed answer as to why this happens.

[starik69]

So this is the game of catching spikes which you produce not knowing how  Good luck with this

[stshiOption]

Not exactly The bitcoin price creates them, and when there is a big delta (perhaps when the market price has a wide spread between difference exchanges), this can happen. So no, we're not creating the spikes per se, we're just admitting we don't know why the market behaves like this. The vast majority of the time you see what you see now on the website: a normal price curve.  

New time horizons on the way, and we have a very exciting product en route written in Node JS for ultra fast execution time. Something Mt. Gox don't know anything about (execution time, that is, not Node JS -- although they probably don't know anything about that either).

[jokerdragon]

Thanks for the info. Some info about this condition to bet (bet from your own wallet) should be usefull on your page.

[bluepoodle]

I won and I am still waiting on payment. My address is:    1Jp1m8v............

[🏰 TradeFortress 🏰]

I won and I am still waiting on payment. My address is:    1Jp1m8v............

Did you send your coins from a shared wallet (eg Mt Gox)?

--

Also, please have some longer time ranges, I'll give it a try if you add that

[stshiOption]

I won and I am still waiting on payment. My address is:    1Jp1m8v............

Sorry for the delay bluepoodle. There was a problem with our server - your payout has now been sent.

Also, please have some longer time ranges, I'll give it a try if you add that

This is something we're working on right now - watch this space!

[natewhatever]

So let's say someone sends more than your minimum bet, what happens to that BTC?

[stshiOption]

So let's say someone sends more than your minimum bet, what happens to that BTC?

Do you mean more than the maximum bet? In that case, it's returned right back to the sender (minus the miner's fee).

[natewhatever]

That's odd, mine never came back! Broke my heart.

[🏰 TradeFortress 🏰]

Can you please provide source code so I can exactly reproduce how you are calculating your price?

It seems like you're fucking with the results or somehow the price went up by a few pips despite the price going down by 20 cents factoring all exchanges you listed (blockchain.info is not an exchange by the way). Might also want to share why you are not counting my offers on Gox at all (price literally stood still), conveniently when I have an active bet that would benefit from that?

[stshiOption]

That's odd, mine never came back! Broke my heart.

OK - can you give us a transaction hash, and we'll look into that for you.

Can you please provide source code so I can exactly reproduce how you are calculating your price?

If connectivity was good, I'd have no qualms about releasing the code. The problem is exchange connectivity is less than robust. If a client has our price feed with good connectivity, and our server has bad connectivity, that means a client is ahead of the game, and can make easy money.

Might also want to share why you are not counting my offers on Gox at all (price literally stood still), conveniently when I have an active bet that would benefit from that?

Things like this remind me of the huge risk we're taking on by providing binary options on a new and relatively low-liquidity market like Bitcoin. There's no way this kind of trick would work on the traditional forex markets!

The best I can do now is assure you that our pricing feed is completely independent of the betting engine - there's no crosstalk or manipulation going on - but when you're playing against the house, you have every right to question us. We're soon releasing a major update to the product which will turn this on its head.

[stshiOption]

We are now offering 5 minute options on BTC/USD.

We have just released the first of our new durations. In addition to 60 second options, there are now 5 minute options on BTC/USD. More to come and on more instruments. Specifically, we hope to have the same for EUR/USD shortly, along with longer time periods, such as 30 mins, and 1 hour. We will likely release these for EUR/USD first. Feedback welcome.

 

[sippsnapp]

I strongly advice to only use this for testing or absolute affordable money.
The odds are very bad and the quoting is "Shady". Concerning BTC trading, there is no transparency.
This is worse than any option broker out there i playd on, more safe and fair to play cfd 500:1 without stop.
This experience has cost me 0.3 btc, the next 0.3 btc i spent on 1337day lol

[stshiOption]

Thanks for your comments sippsnapp. However, they are misleading and unfair.

Firstly, your comments seem to be about binary options in general, rather than Satoshi Option per se. More specifically, you said it is "more safe and fair to play cfd 500:1 without stop." This is nothing to do with Satoshi Option and is only about your opinion regarding binary options. Consider the following: in order to make a profit on the EUR/USD you need to be able to get 6 out of 10 picks correct, or more precisely 58.824% accuracy rate to break even. Your performance merely says that you aren't good enough to achieve 6 out of 10 decisions and manage your bankroll according to account for the times when you are invariably incorrect. For example, if you have 1 BTC to spend, you should not be making 0.1 BTC trades. You should be making ~ 0.03 BTC trades.

Secondly, the odds are +70% return on EUR/USD and the price is provided by a independent third party that can be verified using any number of binary options platforms (e.g. try www.24option.com which is one of the bigger ones). Our payout is inline (perhaps 2% different) with everyone else, which is hardly a premium to pay considering Satoshi Option is the only site that offers binary options where you can pay with bitcoin, from any country.

Finally, regarding your comments about BTC trading being not transparent.....? Every trade you make is publicly viewable in the blockchain. This is easier said than done, so to actually facilitate this we publish every trade in real-time, live, to the site so you can see what the bet amount was, the start price, end price, start time, end time, and so on. There is 100% transparency.

In summary, you were unable to perform at an accuracy level that is profitable and have somehow decided that this is Satoshi Option's fault, rather than your own decision making. Please clarify how Satoshi Option has let you down? For example, have you made trades that were not cashed out when correct? We didn't think so....

In other news, big update coming soon. It will make even sippsnapp very happy!

[🏰 TradeFortress 🏰]

you need to be able to get 6 out of 10 picks correct

You need to get at least 6 out of 10 picks correct using your rigged data source. I've observed and tested Satoshi Option long enough, there is shenanigans going on and I'm putting my name behind this accusation. Most likely SO is weighting exchanges on the fly if the new price points doesn't match what the bet engine wants. Yes, I'm influencing the underlying market, but SO has no ability to tell if the orders/trades were "mine" or someone else's.

The fact that I'm making this post over sub 1 BTC losses (which are really just a rounding error for the volume I trade on) should show you that this is a serious accusation, instead of sour grapes.

RIGGED - source code or GTFO. If you would "lose money" by making it more transparent, then it's your own problem.

(Also, love my first reply space).

[stshiOption]

You're wrong, but we respect your position in the community so we're releasing this IP to improve our integrity: http://pastebin.com/u0PSarFs

Once you have had a chance to go through it, please follow-up as it will help our standing within the community.

[🏰 TradeFortress 🏰]

You're wrong, but we respect your position in the community so we're releasing this IP to improve our integrity: http://pastebin.com/u0PSarFs

Once you have had a chance to go through it, please follow-up as it will help our standing within the community.

Thank you for sharing your source. However, what I get from the module does not match what you had on the price.

1 example: 8 cent jump on my side (while I had an active UP bet) only caused a 2 cent jump on Satoshi Option. The trend has being matching, but this is exactly what I am talking about:

4 cent diff (baseline)
Bet: down
7 cent diff (when price >, higher diff benefiting you)
4 cent diff (when price <, higher diff benefits me)
8 cent diff (when price >, higher diff benefiting you)
LOSE