we are now on open beta

[796]

we are now on open beta.
and we provide free stock for every 1BTC deposit.
anyone has any questions, just click our online service.

[1715460721]

1715460721

[1715460721]

1715460721

[tom1]

It would be a good idea to post the website URL.

[suryc]

It would be a good idea to post the website URL.

Apparently its a new btc exchange, 796.com (its in his sig), but yes, it should probably be in his post and in the title

How do we know this is legit?

[suryc]

796, I was looking at the futures trading of the site and it leaves something to be desired and I'm a little confused.

What is the date of expiration of the futures contracts and is there only one kind?
Usually (in the non btc futures markets), we have very specific terms and conditions for futures contracts, I could not find those published anywhere.

If I'm understanding what I'm looking at correctly, this isn't really "futures" in the traditional sense. You are actually just providing a platform for leveraged buying and short selling of btc, correct?

So, as an example,  if I put up 1 btc, I can buy 2btc @ mkt, (let's say $110) and if the price goes up to $120 I make $10 x $2 = $20, but if the price goes down to $100, I lose $20.

And the same for short selling, except with more leverage, so if I put up 1btc, I can sell 4 btc @mkt (let's say $110) and if the price goes down to $100 I make $10 x 4 = $40, but if the price goes up to $120, I lose $40.

Are these examples correct? And, is there no limit to how long you can hold the position as long as "P/L ratio does not fall below minus 98%".

[796]

It would be a good idea to post the website URL.

thanks for your advice.
you may visit: https://796.com

[796]

It would be a good idea to post the website URL.

Apparently its a new btc exchange, 796.com (its in his sig), but yes, it should probably be in his post and in the title

How do we know this is legit?

thanks for your reply and sorry for my late response.
you could check us out from here: https://796.com/other/about.html  for our registry information, and at government site:  http://www.icris.cr.gov.hk/csci/
if you have any inquiry,you could call us at: 00852-31884158, business time: (GMT+8)9am to 6pm

thanks again.
have a great day.

[naphto]

I don't really understand. Is it a forex broker based on mtgox prices? Are you selling real btc?

[escrow.ms]

It would be a good idea to post the website URL.

thanks for your advice.
you may visit: https://796.com

Your site says "We have used ev ssl security certificate of versign for safety, obtained norton’s safety signature, as well as added Google authenticator and our exclusive security code protection set to prevent users’ fund from illegal robbery to the greatest extent. "

But you are not using ev ssl right now and frankly your site looks copy of mtgox.

[🏰 TradeFortress 🏰]

Yeah, you are not using a EV cert.


Are you using the MtGox trademark with permission?

[796]

I don't really understand. Is it a forex broker based on mtgox prices? Are you selling real btc?

thanks for your reply.
796 Xchange Limited is an independent bitcoin futures exchange.
we just  provide a platform for leveraged buying and short selling of btc for members.
It ceases trading from 23:45pm to 24pm on the last business day of each month, during which suspend trading will be executed at the average price showed on Mt. Gox website at 23:50. And all the orders will be settled at that price and all pending orders will not be affected.

[796]

Yeah, you are not using a EV cert.


Are you using the MtGox trademark with permission?

thanks for your reply.
We are a new company founded in May 23rd, our EV cert is still waiting symantec validation.
Have a nice day.

[escrow.ms]

Well i just checked CR number, it's correct and company is registered on 23rd MAY.

Your Search: CR No.: = 1911752
CR No.:    1911752
Company Name:    796 Xchange Limited
796網絡交易有限公司
Company Type:    Local Company
Date of Incorporation:    23-MAY-2013
Company Status:    Private
Active Status:    Live
Remarks:    -
Winding Up Mode:    -
Date of Dissolution:    -
Register of Charges:    Unavailable
Important Note:

[796]

Yeah, you are not using a EV cert.


Are you using the MtGox trademark with permission?

thanks for your reply to us.
We use the logo of Mt. Gox just to indicate that the price information behind the logo is quoted from Mt. Gox. It’s just like many other Bitcoin related sites quote the market data from Mt. Gox.
Besides, on the last business day of each month, we cease trading from 23:45pm to 24pm, during which suspend trading will be executed at the average price showed on Mt. Gox website at 23:50. And all the orders will be settled at that price and all pending orders will not be affected.

[NoBit]

Yeah, you are not using a EV cert.


Are you using the MtGox trademark with permission?

thanks for your reply to us.
We use the logo of Mt. Gox just to indicate that the price information behind the logo is quoted from Mt. Gox. It’s just like many other Bitcoin related sites quote the market data from Mt. Gox.
Besides, on the last business day of each month, we cease trading from 23:45pm to 24pm, during which suspend trading will be executed at the average price showed on Mt. Gox website at 23:50. And all the orders will be settled at that price and all pending orders will not be affected.

I don't think you are allowed to used the logo. Besides it looks like a scam with that mt.gox logo on top.

[796]

It would be a good idea to post the website URL.

thanks for your advice.
you may visit: https://796.com

Your site says "We have used ev ssl security certificate of versign for safety, obtained norton’s safety signature, as well as added Google authenticator and our exclusive security code protection set to prevent users’ fund from illegal robbery to the greatest extent. "

But you are not using ev ssl right now and frankly your site looks copy of mtgox.

thanks for your reply.
We are a new company founded in May 23rd, our EV cert is still waiting symantec validation.
As to the Mt. Gox logo,we use it just to indicate that the price information behind the logo is quoted from Mt. Gox. It’s just like many other Bitcoin related sites quote the market data from Mt. Gox.
Besides, on the last business day of each month, we cease trading from 23:45pm to 24pm, during which suspend trading will be executed at the average price showed on Mt. Gox website at 23:50. And all the orders will be settled at that price and all pending orders will not be affected.
thanks again for your attention.
if you have any more question, you could also access to our online service.
and our working time:(GMT+8)9am to 6pm
have a great day.

[796]

Well i just checked CR number, it's correct and company is registered on 23rd MAY.

Your Search: CR No.: = 1911752
CR No.:    1911752
Company Name:    796 Xchange Limited
796網絡交易有限公司
Company Type:    Local Company
Date of Incorporation:    23-MAY-2013
Company Status:    Private
Active Status:    Live
Remarks:    -
Winding Up Mode:    -
Date of Dissolution:    -
Register of Charges:    Unavailable
Important Note:

thanks for your time.
have a great day.

[796]

Yeah, you are not using a EV cert.


Are you using the MtGox trademark with permission?

thanks for your reply to us.
We use the logo of Mt. Gox just to indicate that the price information behind the logo is quoted from Mt. Gox. It’s just like many other Bitcoin related sites quote the market data from Mt. Gox.
Besides, on the last business day of each month, we cease trading from 23:45pm to 24pm, during which suspend trading will be executed at the average price showed on Mt. Gox website at 23:50. And all the orders will be settled at that price and all pending orders will not be affected.

I don't think you are allowed to used the logo. Besides it looks like a scam with that mt.gox logo on top.

thanks for your advice.
We put the logo of Mt. Gox on the top the page in the aim of offering our members as a reference. Since we deal with futures while Mt. Gox deals with spot goods. The price of futures cannot do without spot good’s.
But we really appreciate your advice and we will do some change as soon as possible.
have a great day.

[796]

796, I was looking at the futures trading of the site and it leaves something to be desired and I'm a little confused.

What is the date of expiration of the futures contracts and is there only one kind?
Usually (in the non btc futures markets), we have very specific terms and conditions for futures contracts, I could not find those published anywhere.

If I'm understanding what I'm looking at correctly, this isn't really "futures" in the traditional sense. You are actually just providing a platform for leveraged buying and short selling of btc, correct?

So, as an example,  if I put up 1 btc, I can buy 2btc @ mkt, (let's say $110) and if the price goes up to $120 I make $10 x $2 = $20, but if the price goes down to $100, I lose $20.

And the same for short selling, except with more leverage, so if I put up 1btc, I can sell 4 btc @mkt (let's say $110) and if the price goes down to $100 I make $10 x 4 = $40, but if the price goes up to $120, I lose $40.

Are these examples correct? And, is there no limit to how long you can hold the position as long as "P/L ratio does not fall below minus 98%".

Thanks so much for your attention to us.
You are kinda of right on it.
Let's say like this:
If you buy 2 BTC at the price of $110, you will need 1 BTC as margin, which means you hold a 2 BTC long position. If the price goes up to $120, you will make（120 - 110）/ 100  = 0.1BTC. the “100” is a set factor.
If the price goes down to $100, you will lose （100 - 110）/ 100 = -0.1BTC.
Conversely for the sell short case.
All the positions will be settled at the end of the month, except this there will be no limit
If you have any more questions, please do not hesitate to contact us.
You may also access to our online service between (GMT+8)9am to 6pm.
wish you every success.