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Author Topic: satoshifutures.io - decentralised binary options trading  (Read 48 times)
decentralizedfutures
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January 09, 2018, 04:08:38 PM
 #1

We are happy to introduce SatoshiFutures.io

Centralized binary option companies have been known to scam investors,
hold their funds and suspend accounts when payout is due.
That’s why we used the power of the Ethereum blockchain to create a
decentralized alternative: SatoshiFutures.io
You’ll earn 70% per successful trade and get paid immediately by the
smart contract with all results and prices verifiable by public APIS and
the blockchain.

No one has access to the contract’s balance as, SatoshiFutures.io is self-
owned. It is an autonomous entity, executing as code on the Ethereum
(ETH) P2P network and lives in the Ether, in the realm of ideas and
magic. Enjoy it.

How much can I make?

You’ll earn 70% of your investment on a successful trade and it doesn’t
matter if the price you picked changes by 1 cent or $1,000, you’ll still gain
70% as long as you successfully predicted if the price was going to go up
or down; it’s a binary result.

How do I create a trade?
https://www.youtube.com/watch?v=ArfJ6XZWMoY&feature=youtu.be

How do I know if I gain or lose?

If your trade was correct, the funds will be sent directly to your wallet
according to the contract. If you lose, you will receive 1 wei.
You can also hover over the “coin symbol” in the results table and you will
see the public query where your trade results were taken from.

You can also hover over the “coin symbol” in the results table and you will see the public query where your trade results was taken from.

How long does it take for a trade to show as resolved and get the result?

We use cryptowat.ch public APIs and oraclize.it for the pricing.
Trades are shown 5 minutes after your trade period ends, so if your trade
was for 1 minute, your results will be shown in 6 minutes.

How can I verify that prices are legitimate?

We are using cryptowat.ch public bitfinex API, and you can hover over
the “coin symbol” in the results table to see the exact query your trade
results were taken from.

How is the start trade time and price calculated?

Due to blockchain limitations and to keep things decentralized, your
starting time begins the second the transaction was mined.
The pricing is set using a public API call to cryptowat.ch and the initial
time is set down to 00, so if you traded at 12:30:18 pm, your initial time
will be taken from cryptowat.ch as 12:30:00 pm

How can I verify the integrity of Satoshi Futures?

The contract is open sourced and hosted on the Ethereum blockcahin,
and anyone can verify its rules which can’t be altered once part of the
blockchain.

What does satoshifutures.io earns?

The owner of the contract earns 3% of every trade made. Example: If you
invest 1 Ether, the contract owner gets 0.03 Ether. Whether you end up
trading successfully or not, the owner of the contract won’t get more than
3% of the trade.

Where does the payout originate from?

The starting balance is deposited by the contract owner and the rest of
the balance changes as people start trading. (See more below).

How is the maximum trade amount calculated?

By taking the current balance of the contract, subtracting the current
open trades + assuming those trades are going to be successful and the
contract can pay them, then dividing that amount by .70 (70%).

Who has access to the contract balance?

No one can manually alter the balance of the contract. The smart contract
pays immediately for a successful trade without any 3rd party
involvement.
An emergency function was added to take the balance of the contract and
divide it by all the people who created a trade on the platform and then
return the balance back to the investors in equal shares.
The owner of the contract doesn’t receive anything (unless they also
invested, and in that case he would receive an equal share like all other
investors).

Example: If 10 investors deposited a total of 25 ether, and the emergency
function is run by the contract owner, each of the 10 investors will get 2.5
ether, no matter how much they originally invested on the platform.

Why didn’t Satoshi Futures go the route of an ICO?

We don’t believe every product needs to raise money in that fashion. We
are a group of entrepreneurs who want to explore and create a real world
example of a decentralized application. We don’t believe in taking
millions of dollars from people to deliver a product.

Why is the limit 30 minutes of trade?

This is the current time limit. Long term trades (up to 2 months) will
become available in the coming weeks.

Who owns and manages Satoshi Futures?

SatoshiFutures.io owns itself. It is an autonomous entity, executing as code on the Ethereum (ETH) P2P network. It lives in the Ether; in the realm of ideas and magic. Enjoy it.

How can we contact satoshifutures?

satoshifutures@gmail.com
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jargal
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January 20, 2018, 09:29:16 PM
 #2

It s nice but I dont understand something:
if you win you get 1.7 * betsize. If you loose, you loose betsize. So the expected gain (if you assume p(up) = .5 = p(down)) is -.15.
But you say the contract's gain on a traed is .03*betsize. So where is  the remaining .12 going?
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January 20, 2018, 09:30:23 PM
 #3

How can I see the source code?
acuwibi
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January 21, 2018, 04:10:38 PM
 #4

Expert on binary options is one of the few ways to make money where profit does not depend on the tops and the number of working days but on the ability of the traders themselves. With fruit and started working in the Office of the ordinary, you can make money from home, in a comfortable condition. Missing: job name decentralised satoshifutures
cryptocropty
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January 21, 2018, 10:46:38 PM
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Very interesting use case. How much time did you need for implementation?
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