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Author Topic: Investing in Mircea Popescu's Options Emporium  (Read 23497 times)
MPOE-PR
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March 02, 2012, 07:27:47 PM
 #41

Maybe I should also point out that we've been hacked a total of zero times since August 5, 2011.

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copumpkin
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March 02, 2012, 08:55:01 PM
 #42

Maybe I should also point out that we've been hacked a total of zero times since August 5, 2011.

In other news, I've been hit by a car zero times, since 1984 Smiley

But I don't doubt that MPOE security is good, since it involves manual confirmation of transactions and no wallets hosted on hosted boxes.
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March 03, 2012, 12:52:10 AM
 #43

Hehehe, so you have splendid car security with a proven track record. Geddit? *track* record.

Anyway, add *no accounts* to that list  Smiley

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March 03, 2012, 01:44:07 AM
 #44

An improved UI might attract more buyers (which in turn could attract more sellers).

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MPOE-PR
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March 03, 2012, 01:51:52 PM
 #45

Quote
An improved UI might attract more buyers (which in turn could attract more sellers).

It's not an exchange bitcoinBull. You get 100% liquidity at the quoted rates.

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March 03, 2012, 09:44:54 PM
 #46

OK, I see now that you're the sole writer of the options.  And I also see that you're the only who sets the prices.

The spreads are way too large.  I'd prefer to make my own bid to a market, not buy from you at whatever price you set.

It's not an exchange bitcoinBull. You get 100% liquidity at the quoted rates.

You call it an exchange on your site.  And its not 100% liquidity if you refuse orders that are "too large".

Quote
The system is designed to allow anonymous use of the exchange.
...
I reserve the right to refuse any transactions for any reason (including excess risk load on the book, order too large to effectively hedge etc)

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March 04, 2012, 02:39:09 AM
 #47

Good news: MPOE now allows short selling of options (calls or puts). Covered only.

bitcoinBull, I think it's called an Emporium there, but anyway. The ability of users to offer their own quotes on contracts is being worked upon and will probably be here by Monday. Maybe you give it a spin then.

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March 04, 2012, 02:34:48 PM
 #48

Short of liquidity...


MPOE-PR
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March 04, 2012, 03:43:24 PM
 #49

What do you mean finway?

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March 05, 2012, 12:55:17 AM
 #50

Good news: MPOE now allows short selling of options (calls or puts). Covered only.

bitcoinBull, I think it's called an Emporium there, but anyway. The ability of users to offer their own quotes on contracts is being worked upon and will probably be here by Monday. Maybe you give it a spin then.

^ like! But could you explain more? Do you mean writing options? For example, I have 100 bticoins and I write 100 call options at $5.5 and collect the premium, but potentially have to sell my 100 bitcoins if the price increases. How does this work with holding the bitcoins in escrow?

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March 05, 2012, 07:15:51 AM
 #51

Good news: MPOE now allows short selling of options (calls or puts). Covered only.

bitcoinBull, I think it's called an Emporium there, but anyway. The ability of users to offer their own quotes on contracts is being worked upon and will probably be here by Monday. Maybe you give it a spin then.

^ like! But could you explain more? Do you mean writing options? For example, I have 100 bticoins and I write 100 call options at $5.5 and collect the premium, but potentially have to sell my 100 bitcoins if the price increases. How does this work with holding the bitcoins in escrow?

As far as I can tell, no. This means that you can sell options that you've bought from MPOE at prices other than the ones he's willing to buy them back for, and other people can buy yours at your price instead of his. Since he seems to give an infinite supply of options at his price, though, you don't have much flexibility in pricing Smiley
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March 05, 2012, 09:20:50 AM
 #52

Good news: MPOE now allows short selling of options (calls or puts). Covered only.

bitcoinBull, I think it's called an Emporium there, but anyway. The ability of users to offer their own quotes on contracts is being worked upon and will probably be here by Monday. Maybe you give it a spin then.

^ like! But could you explain more? Do you mean writing options? For example, I have 100 bticoins and I write 100 call options at $5.5 and collect the premium, but potentially have to sell my 100 bitcoins if the price increases. How does this work with holding the bitcoins in escrow?

As far as I can tell, no. This means that you can sell options that you've bought from MPOE at prices other than the ones he's willing to buy them back for, and other people can buy yours at your price instead of his. Since he seems to give an infinite supply of options at his price, though, you don't have much flexibility in pricing Smiley

Well, that's not really short selling then, if you're only covering a long position.

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March 05, 2012, 12:12:09 PM
 #53

Quote
Do you mean writing options? For example, I have 100 bticoins and I write 100 call options at $5.5 and collect the premium, but potentially have to sell my 100 bitcoins if the price increases.

That's exactly how it works, actually. Give this guide a look, 1b explains exactly what you're looking for. MPOE itself is the escrow if you're trading them with other participants.

Quote
This means that you can sell options that you've bought from MPOE at prices other than the ones he's willing to buy them back for

That too, but what he says too.

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March 07, 2012, 06:44:15 PM
 #54

I may look into this for funding some future software development at least partially.

If you feel Universe has trolled you exclusively, please donate to Emergency Butthurt Support Fund:
1Jv4wa1w4Le4Ku9MZRxcobnDFzAUF9aotH
Proceeds go to Emergency Butthurt Escape Pod none of you will be allowed to use. If you have read this far, you must pay Emergency Butthurt Internet Tax.
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March 18, 2012, 11:01:36 PM
 #55

I announced this a little while ago, I've made a fund on GLBSE for those who wish to invest in MPOE. https://bitcointalk.org/index.php?topic=67535.0

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March 31, 2012, 01:12:41 AM
 #56

March 2012 Results :

*******************
Operational results
*******************

Overall 3`587 contracts, of which +1`893 -100 CALL ; +394 -1`200 PUT.

Received : 2`504.45113888 BTC.

Expended : 1`891.81938897 BTC, of which :
     *owed to customers, 1`770.97441517 BTC
     *capital expenses : 50.84497380 BTC (1`893 BTC + 662.02380952 BTC) × 1.99%
     *advertising expenses : 70 BTC

Third parties covering shorts : +501.84210500 BTC (total 501.84210500 BTC).

Profit : 110.78964491 BTC

*******************
Shareholders table
*******************

Total shares : 1`000`000`000, of which :
     1. 12fmA1LuYpXqGzguWmDV7efRAHwrUcxxy8, 1`100
     2. 1LH8pRGWtgVWAw13Tqc8H3iys4mmKYygB3, 330`214
     3. 142Y7SccDv471NirBJoWpsDo9yLQgd92r5, 22`014
     4. 1CMeG8KzxzYRjRQS7BzfsMbW2b2FPf4RHw, 55`035
     5. 1MqrNNoRrtyJiv5HnBNEG2hb3itae7Pdt8, 165`107
     6. 1BvaoNBkNFkaHLUavJFAXRRrnxjqfdJYW6, 88`057
     7. 1GUpLZyMMBR7hig5zxnzfLabMXGay7JmXp, 55`035
     8. 17W4tjwJwPSJBDAA2uav2xuoj8cAocitxV, 110`071
     9. 1JdSigiyLRXiBingciXegfGWAjdzLW1AAH, 173`362
     10. Mircea Popescu, 999`000`005

Total dividends : 110.78964491 BTC (per 1 mn share block : 0.11078964 BTC).

******************
Bondholders table
******************

Total retained capital : 2`555.02380952 BTC, of which
     1. 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 100.00000888 BTC @ 1.99%
     2. 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 100.00000888 BTC @ 1.99%
     3. 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 100.00000888 BTC @ 1.99%
     4. 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, 1000.00000888 BTC @ 1.99%
     5. 17KZZq1Q8dD3no2×9Ww2XqVVq6aw1JB69Q, 50.00000888 BTC @ 1.99%
     6. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, 1205.02376512 BTC @ 1.99%

To cover : 0 BTC
Loss per BTC : 0.0

Final bondholder list :

     1. 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 100.00000888 BTC
     2. 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 100.00000888 BTC
     3. 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 100.00000888 BTC
     4. 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, 1000.00000888 BTC
     5. 17KZZq1Q8dD3no2×9Ww2XqVVq6aw1JB69Q, 50.00000888 BTC
     6. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, 2000.00000888 BTC @ 1.99%
     7. Mircea Popescu (creditor of last resort), 2%

**************
Miscellaneous
**************

 4`000`000 shares offered through public subscription through the 6th of April (more info).

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MPOE-PR
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April 05, 2012, 12:27:15 AM
 #57

As you know, March IPO (1mn shares offered) closed 90.850079910 BTC total investment.

April IPO (4mn shares offered) runs until April the 6th (~48 hours left). Currently 97.35175995 BTC subscribed, thus trading at ~73.3% discount so far.

Read all about MPOE and the IPOs and get yours!

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MPOE-PR
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April 28, 2012, 01:32:51 AM
 #58

Ok, this is pretty huge.

The April results were published (English version here).

The highlights:
* 1500 BTC gross, 1100 BTC net profit this month.
* New limit for bonds, at 5% now. Possibly the best returns for the level of risk.
* MPEx - MPOE merger, delivering a windfall to current shareholders.

Various and sundry other points.

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May 26, 2012, 12:18:05 PM
 #59

May 2012 Results :

*******************
Operational results, MPOE
*******************

Overall trade 5`976 contracts, of which +3`056 -0 CALL ; +120 - 2`800 PUT.

Revenue : 317.66278560 BTC, of which :
     *contract sales : 317.66278560 BTC

Expenditure : 473.16436150 BTC, of which :
     *contracts bought : 104.66612200 BTC
     *exercise : 227.05882352 BTC
     *capital expenses : 141.43941598 BTC (2`843.00333640i × 4.975%)

Profit : -155.50157590 BTC

Third parties covering shorts : + 0 BTC - 0 BTC (total 0 BTC).

*******************
Operational results, MPEx
*******************

Overall trade : 28`303.64909712 BTC
Revenue from sales fee : 56.60729819 BTC
Revenue from new accounts : 20 BTC

Profit : 76.60729819 BTC

*******************
Shareholders table
*******************

Total shares : 1`000`000`000, of which :
     1. Mircea Popescu : 983`714`137 shares,
     2. Third parties : 16`285`863 shares.

Total dividend : 76.60729819 BTC.

******************
Bondholders table
******************

Total capital : 2`843.00333640 BTC, of which :
     1. 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 100.00000888 BTC @ 4.975%
     2. 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 100.00000888 BTC @ 4.975%
     3. 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 100.00000888 BTC @ 4.975%
     4. 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, 1000.00000888 BTC @ 4.975%
     5. 17KZZq1Q8dD3no2×9Ww2XqVVq6aw1JB69Q, 50.00000888 BTC @ 4.975%
     6. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, 1`493.00329200 BTC @ 4.975%

To cover : 155.50157590 BTC
Loss per BTC : 0.05469623

MPBOR valid 25 May - 29 June : 4.975%.

Final bondholder list :

     1. 1HLWcPokYJixh6BsJH9JWa8MzDaGSLGDds, 94.53038499 BTC
     2. 1NcrEUkRzqQaAEGabZKPTZhArzhJvYNGWh, 94.53038499 BTC
     3. 1CkEwsGgZ9saNRmr5FnbtYJjnLBdgGpS7J, 94.53038499 BTC
     4. 1J9AN7LiDNDUfzAwk8D3uBLT5diWHFFCh5, 945.30377439 BTC
     5. 17KZZq1Q8dD3no2×9Ww2XqVVq6aw1JB69Q, 47.26519669 BTC (below minimum, returned to investor)
     6. 1swAzHw1zTWqoi5184VinvUxLWnBskPVW, 1918.33834257 BTC @ 4.975%
     7. Mircea Popescu (last recourse), 5%

******************
Miscellaneous
******************

-----BEGIN PGP SIGNED MESSAGE-----
 Hash: SHA1

Your dividend payment for S.MPOE in total sum of 7660729819 to a notional float of 500000000 has been issued on May 26, 2012, 12:30 am. Feel free to publish this receipt to your shareholders.
 -----BEGIN PGP SIGNATURE-----
 Version: GnuPG v1.4.5 (GNU/Linux)

iD8DBQFPwCQ4khT8a/G2mSERArwsAJ9/2622JRiWPAUodJ40nXBAAU5tDwCfRySt
 AAUE5UOoIfSdkXqy1sFtuZ4=
 =6OKD
 -----END PGP SIGNATURE-----

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brendio
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May 26, 2012, 03:13:35 PM
 #60

Just wondering why the dividend was paid on a notional float of 500000000, rather than the 1 billion issued shares?

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