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Author Topic: [ANN] Coinut.com - The only Bitcoin Options Exchange [beta]  (Read 33649 times)
wangxinxi
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January 27, 2016, 04:26:35 PM
 #441

Is the site dead then or had their coins hacked/stolen?

Consider the site dead. OP is inactive for over a month. All went downhill from when they couldn't get funds to pay for signature campaign (I suspect the OP "borrowed" some from customers' deposits), then there were problems with withdrawals etc.


We've never used customer's fund to advertise.

As I said, it was only my suspicion.

In such case, care to explain all the withdrawals issues people were reporting on as well as delays/missing payments for sig campaign, resulting in your negative trust score?

There were some delays but no missing payments or withdrawals. I was traveling in China raising money for the company, and the network condition was pretty bad. That's why there were the delays.
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January 27, 2016, 04:46:35 PM
 #442

There were some delays but no missing payments or withdrawals.
Tell that to the people complaining in your sig thread and the person(who IDK why) is on DT 2 and has given you a negative trust
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January 27, 2016, 06:13:43 PM
 #443

Is the site dead then or had their coins hacked/stolen?

Consider the site dead. OP is inactive for over a month. All went downhill from when they couldn't get funds to pay for signature campaign (I suspect the OP "borrowed" some from customers' deposits), then there were problems with withdrawals etc.


We've never used customer's fund to advertise.

As I said, it was only my suspicion.

In such case, care to explain all the withdrawals issues people were reporting on as well as delays/missing payments for sig campaign, resulting in your negative trust score?

There were some delays but no missing payments or withdrawals. I was traveling in China raising money for the company, and the network condition was pretty bad. That's why there were the delays.

I'm still missing the final payout. you never paid those people...

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January 27, 2016, 09:44:57 PM
 #444

Pretty interested but seems all went down.

Do you know guys alternative exchange with derivates (options, NOT binary options)
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January 27, 2016, 11:20:53 PM
 #445

I got my withdrawal processed earlier today, but having good customer support is very important when you are holding on to peoples funds. Any kind of delay will make people think the worst especially in this industry. If you need help with customer support and processing withdrawals you should find someone you trust to handle it while you are away on business. The damage to your reputation can be bad.

It can take years to build your reputation, but only takes a minute to lose it.
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April 05, 2016, 09:47:31 PM
 #446

seems like site is dead.  almost no volume, and no response to inquiries on the site
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April 05, 2016, 10:24:29 PM
 #447

seems like site is dead.  almost no volume, and no response to inquiries on the site

Forget about this site. Try to withdraw your funds, if you have any, and move on. OP is inactive for months.

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April 29, 2016, 12:25:11 AM
 #448

theres even no withdrawal button anymore

yolo
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April 29, 2016, 04:25:33 PM
 #449

theres even no withdrawal button anymore

yeah this site is gone. kind of expected, hope no one used it seriously

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June 03, 2016, 07:40:33 PM
 #450

Too bad. Is there any alternative to this site? especially for naked puts and calls.

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June 04, 2016, 03:06:37 AM
 #451

These guys have a good service, and well designed website, and have always been honest with everyone. Problem is they haven't been able to find anyone able & willing to stand as market maker across many strikes, and/or attract volume. I think it is tough given that there are so many ways to lever one's position in BTC that for most of us options are not essential. They are nice to have, but not absolutely essential.

Anyway, I made some money on this site, and Mr. Wang was always honest me and everyone I knew who traded here, so thought I should speak up.

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June 04, 2016, 08:33:15 AM
 #452

Finding market makers wasn't necessary. All they need some funds to make markets highly liquid by themselves. After this first step, traders would resonate with the market and market makers. Otherwise waiting market makers to establish liquid markets would be a low probability dream. Always the founder of the exchange should give the first liquidity to the markets.

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June 05, 2016, 01:40:52 AM
 #453

Finding market makers wasn't necessary. All they need some funds to make markets highly liquid by themselves. After this first step, traders would resonate with the market and market makers. Otherwise waiting market makers to establish liquid markets would be a low probability dream. Always the founder of the exchange should give the first liquidity to the markets.

Well, making markets in btc options isn't as easy as you suggest. Coinut doesn't have the expertise in house: my impression is they are newly graduated IT geeks with minimal trading experience. So they would need to source one or more third party market makers. Apparently they have one, but this MM is of limited commitment/capability.

At the end of the day, owners have been honest, the site is still functioning, and I'm sure they are still casting around looking for some liquidity providers. I know Mr. Wang is native to China so I'm sure he has even been looking for mainland-based market makers. And of course Singapore is a financial center for SE Asia so there are large institutional MMs based there. We may find that BTC runs to above US$1k again, markets get more active, and then an MM or two takes another look at trying to provide better liquidity on Coinut. I haven't given up hope, and still revisit here from time to time ...

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June 14, 2016, 10:18:01 PM
 #454

Wang, you might have a look at reconfiguring your service as an app on Moneypot. Lots of people here hold balances either on Moneypot or one of its gambling apps. I think Coinut would be an interesting add to their mix given they don't currently have any options offerings. You can find the official Moneypot thread in the Gambling section of Bitcointalk.

If you were a Moneypot app, and simplified your offering to only a dozen, or a few dozen binary strikes, I think you will find many current MP customers stopping in and 'placing a bet' from time to time. Moreover since MP caters to gamblers/gamers they will likely be most interested in the very short-term strikes, i.e. place lots of repeat orders.

Perhaps worth looking into ...

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June 15, 2016, 08:02:01 PM
 #455

Finding market makers wasn't necessary. All they need some funds to make markets highly liquid by themselves. After this first step, traders would resonate with the market and market makers. Otherwise waiting market makers to establish liquid markets would be a low probability dream. Always the founder of the exchange should give the first liquidity to the markets.

Well, making markets in btc options isn't as easy as you suggest. Coinut doesn't have the expertise in house: my impression is they are newly graduated IT geeks with minimal trading experience. So they would need to source one or more third party market makers. Apparently they have one, but this MM is of limited commitment/capability.

At the end of the day, owners have been honest, the site is still functioning, and I'm sure they are still casting around looking for some liquidity providers. I know Mr. Wang is native to China so I'm sure he has even been looking for mainland-based market makers. And of course Singapore is a financial center for SE Asia so there are large institutional MMs based there. We may find that BTC runs to above US$1k again, markets get more active, and then an MM or two takes another look at trying to provide better liquidity on Coinut. I haven't given up hope, and still revisit here from time to time ...

Recently, I found a new options site called EtherOpt. Currently they offer only ETH options. But their markets are highly liquid and very tight spreads.

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June 15, 2016, 08:10:02 PM
 #456

Finding market makers wasn't necessary. All they need some funds to make markets highly liquid by themselves. After this first step, traders would resonate with the market and market makers. Otherwise waiting market makers to establish liquid markets would be a low probability dream. Always the founder of the exchange should give the first liquidity to the markets.

Well, making markets in btc options isn't as easy as you suggest. Coinut doesn't have the expertise in house: my impression is they are newly graduated IT geeks with minimal trading experience. So they would need to source one or more third party market makers. Apparently they have one, but this MM is of limited commitment/capability.

At the end of the day, owners have been honest, the site is still functioning, and I'm sure they are still casting around looking for some liquidity providers. I know Mr. Wang is native to China so I'm sure he has even been looking for mainland-based market makers. And of course Singapore is a financial center for SE Asia so there are large institutional MMs based there. We may find that BTC runs to above US$1k again, markets get more active, and then an MM or two takes another look at trying to provide better liquidity on Coinut. I haven't given up hope, and still revisit here from time to time ...

Recently, I found a new options site called EtherOpt. Currently they offer only ETH options. But their markets are highly liquid and very tight spreads.
I think you must show the link
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June 15, 2016, 09:06:22 PM
 #457


Recently, I found a new options site called EtherOpt. Currently they offer only ETH options. But their markets are highly liquid and very tight spreads.

It looks interesting, except that you need a Github account. And some Ether. Coinut won't be interesting because there are no fees to collect. :-O

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June 15, 2016, 09:10:54 PM
 #458


Recently, I found a new options site called EtherOpt. Currently they offer only ETH options. But their markets are highly liquid and very tight spreads.

It looks interesting, except that you need a Github account. And some Ether. Coinut won't be interesting because there are no fees to collect. :-O

You only need a GitHub account to chat. But yes, you do need Ether. July contract are highly active right now.

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June 15, 2016, 09:11:23 PM
 #459

Finding market makers wasn't necessary. All they need some funds to make markets highly liquid by themselves. After this first step, traders would resonate with the market and market makers. Otherwise waiting market makers to establish liquid markets would be a low probability dream. Always the founder of the exchange should give the first liquidity to the markets.

Well, making markets in btc options isn't as easy as you suggest. Coinut doesn't have the expertise in house: my impression is they are newly graduated IT geeks with minimal trading experience. So they would need to source one or more third party market makers. Apparently they have one, but this MM is of limited commitment/capability.

At the end of the day, owners have been honest, the site is still functioning, and I'm sure they are still casting around looking for some liquidity providers. I know Mr. Wang is native to China so I'm sure he has even been looking for mainland-based market makers. And of course Singapore is a financial center for SE Asia so there are large institutional MMs based there. We may find that BTC runs to above US$1k again, markets get more active, and then an MM or two takes another look at trying to provide better liquidity on Coinut. I haven't given up hope, and still revisit here from time to time ...

Recently, I found a new options site called EtherOpt. Currently they offer only ETH options. But their markets are highly liquid and very tight spreads.
I think you must show the link
You can easily google it.

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June 16, 2016, 07:31:28 AM
 #460

https://etheropt.github.io/
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