[ANN] Coinut.com - The only Bitcoin Options Exchange [beta]

[carlo__]

Pretty interested but seems all went down.

Do you know guys alternative exchange with derivates (options, NOT binary options)

[Cryptlexity]

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.

[newcoinutuser]

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

[pawel7777]

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.

[forzendiablo]

theres even no withdrawal button anymore

[favdesu]

theres even no withdrawal button anymore

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

[AlgoSwan]

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

[Indamuck]

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.

[AlgoSwan]

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.

[Indamuck]

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 ...

[Indamuck]

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 ...

[AlgoSwan]

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.

[TraderETH]

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

[Deuceisgood]

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

[AlgoSwan]

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.

[AlgoSwan]

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.

[klee]

https://etheropt.github.io/

[flowerpots]

Anoyone has experience with https://deribit.com? They also offer vanilla options.. maybe a good possibility to hedge against Coinut.com?

[Make It]

SCAM !!! NOT PAYING FOR MUCH TIME !!!
Also Ignoring user mails

[coinutmaker]

Site has re-launched and the UI is great.  In my experience, it has better prices than BTC-e or bitfinex in uptrending markets, which is great.  I'm also going to be a market maker on this site, and the founder is a lead developer on LTC, so you know its legit.

If you join using this link: https://coinut.com/?r=5mj, you will get .01 LTC free to trade with.  The site currently batches transactions manually to keep network fees down, so you might not see the LTC in your account immediately, but it will arrive in short order.  I have received coins from the site when I try to withdraw, so I can confirm that the site pays.