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Author Topic: [CLOSED] [MPEx] Looking for a marketmaker for a difficulty-based option.  (Read 1779 times)
MPOE-PR
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April 22, 2012, 01:00:35 PM
 #1

An option is a contract transferring the right (but not the obligation) of either buying or selling a specified underlying for a set period of time.

We've tried for about a month now to come up with a satisfactory statistical model that would allow automatic pricing of such an option (something similar to the BTC/USD options available) with limited to no success. Since there is a lot of demand from traders for something of this nature, and since we don't actually have the wherewithal to satisfy that demand, we're opening the books for one competent miner to fill in this role.

This position requires you quote prices for no less than 1k BTC worth of contracts at any given time. The prices are entirely up to you, but there must be bids and asks up for at least that amount. It's not yet decided if the option will be straight difficulty (something like O.DIFF.2MN for instance) or hash-based (something like O.HASH.1GH) for instance. The former would act like a straight forex option, taking the difficulty as the currency rate, the later would act like a commodities option, dealing in the present value of the specified number of hashes (not per second, mind). Alternatively there could be something share based, trading the present value of a "share" if that concept can be sufficiently standardised. All these are up for discussion with the eventual person selected.

In exchange you will receive significant credit support from MPEx, and for that reason only well known and well respected miners will be seriously considered. A strong OTC rating helps.

You can discuss this matter here or via pm, you can also email or make contact on IRC. Thanks for reading.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
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April 22, 2012, 01:15:40 PM
 #2

An option is a contract transferring the right (but not the obligation) of either buying or selling a specified underlying for a set period of time.

We've tried for about a month now to come up with a satisfactory statistical model that would allow automatic pricing of such an option (something similar to the BTC/USD options available) with limited to no success. Since there is a lot of demand from traders for something of this nature, and since we don't actually have the wherewithal to satisfy that demand, we're opening the books for one competent miner to fill in this role.

This position requires you quote prices for no less than 1k BTC worth of contracts at any given time. The prices are entirely up to you, but there must be bids and asks up for at least that amount. It's not yet decided if the option will be straight difficulty (something like O.DIFF.2MN for instance) or hash-based (something like O.HASH.1GH) for instance. The former would act like a straight forex option, taking the difficulty as the currency rate, the later would act like a commodities option, dealing in the present value of the specified number of hashes (not per second, mind). Alternatively there could be something share based, trading the present value of a "share" if that concept can be sufficiently standardised. All these are up for discussion with the eventual person selected.

In exchange you will receive significant credit support from MPEx, and for that reason only well known and well respected miners will be seriously considered. A strong OTC rating helps.

You can discuss this matter here or via pm, you can also email or make contact on IRC. Thanks for reading.


Hi,

I wanted to direct your attention to MPEx's call for a miner to MM a difficulty-based option. You can check out the details here: https://bitcointalk.org/index.php?topic=77675.0
Not only am I not interested in the slightest, I do not appreciate the unsolicited spam from you either.


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April 22, 2012, 01:34:37 PM
 #3

It's too early for this market. BTC need to show some measurable growth in tx volume and its too volatile atm. Undecided

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April 22, 2012, 01:45:32 PM
 #4

Quote
It's too early for this market.

Yea, that may well be the case.

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April 22, 2012, 03:23:19 PM
 #5

+1 to the unwanted spam comment...  I did not appreciate it either. OP's spamming is out of control.

Hi,

I wanted to direct your attention to MPEx's call for a miner to MM a difficulty-based option. You can check out the details here: https://bitcointalk.org/index.php?topic=77675.0


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MPOE-PR
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April 22, 2012, 03:33:32 PM
 #6

@rjk, ognasty: Added you to the ignore list. Anyone else that has difficulty with the notion of PMs or otherwise is confused as to what spam is feel free to point it out and you'll be gladly added.

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You are WRONG!


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April 22, 2012, 03:36:42 PM
 #7

@rjk, ognasty: Added you to the ignore list. Anyone else that has difficulty with the notion of PMs or otherwise is confused as to what spam is feel free to point it out and you'll be gladly added.
its not good for PR, to threaten potential new clients...

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April 22, 2012, 04:14:58 PM
 #8

An option is a contract transferring the right (but not the obligation) of either buying or selling a specified underlying for a set period of time.

We've tried for about a month now to come up with a satisfactory statistical model that would allow automatic pricing of such an option (something similar to the BTC/USD options available) with limited to no success. Since there is a lot of demand from traders for something of this nature, and since we don't actually have the wherewithal to satisfy that demand, we're opening the books for one competent miner to fill in this role.

This position requires you quote prices for no less than 1k BTC worth of contracts at any given time. The prices are entirely up to you, but there must be bids and asks up for at least that amount. It's not yet decided if the option will be straight difficulty (something like O.DIFF.2MN for instance) or hash-based (something like O.HASH.1GH) for instance. The former would act like a straight forex option, taking the difficulty as the currency rate, the later would act like a commodities option, dealing in the present value of the specified number of hashes (not per second, mind). Alternatively there could be something share based, trading the present value of a "share" if that concept can be sufficiently standardised. All these are up for discussion with the eventual person selected.

In exchange you will receive significant credit support from MPEx, and for that reason only well known and well respected miners will be seriously considered. A strong OTC rating helps.

You can discuss this matter here or via pm, you can also email or make contact on IRC. Thanks for reading.


You should work on your website first, it'd increase your demand even further.

Coming Soon!™ © imsaguy 2011-2013, All rights reserved.

EIEIO:
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Shades Minoco Collection Thread: https://bitcointalk.org/index.php?topic=65989
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MPOE-PR
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April 22, 2012, 09:23:44 PM
 #9

This position has now been filled. A thank you goes to all those who have responded.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
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