The smile patrol

[reeses]

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[smoothie]

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I say at the end of August we will have hit $12-$15/bitcoin.

I'll sell a bunch to you today for $11.  All that profit will be yours!

Where did I say I wanted to buy at $11?

How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you.

Deal?

Chicken?

Troll?

Chicken Troll?

 

[adamstgBit]

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I say at the end of August we will have hit $12-$15/bitcoin.

I'll sell a bunch to you today for $11.  All that profit will be yours!

Where did I say I wanted to buy at $11?

How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you.

Deal?

Chicken?

Troll?

Chicken Troll?

 

I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like.

and that's how bitcoin futures were born  

[smoothie]

I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like.

Deal. I will buy them on Halloween from you and yes we will use an escrow.

[smoothie]

Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured...

$137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not.

Talk to litecoin and bitcoin.me ...they will tell you I will honor the deal 100%.

[smoothie]

Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured...

$137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not.

One more thing. At the moment I don't have cash. So you will have to wait until October 31st just like I have to wait until then. And NO they are not free. They will be $11 each per our deal.

Or you can back out and be labeled as a bird the people eat.

 

[Raoul Duke]

Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured...

$137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not.

Talk to litecoin and bitcoin.me ...they will tell you I will honor the deal 100%.

Now if only there was some type of non-reversible way for you to pay me at least 25% of $550 for the 50 coins you just secured...

$137.50 is what it costs to secure this deal. They aren't free. I am 100% willing to escrow 50 coins until October for $137.50, right now. Why not.

One more thing. At the moment I don't have cash. So you will have to wait until October 31st just like I have to wait until then. And NO they are not free. They will be $11 each per our deal.

That's not how it works... You pay up 25% now and if you don't buy it for $11-25%/BTC on the given date, bye bye 25%.
There is no honor in this deal, just numbers.

[smoothie]

Until October then, I suppose.  

Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.

[myrkul]

I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like.

Deal. I will buy them on Halloween from you and yes we will use an escrow.

Until October then, I suppose. 

Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.

Quoted to ensure posterity. Consider this to be contract witnessed.

[smoothie]

I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like.

Deal. I will buy them on Halloween from you and yes we will use an escrow.

Until October then, I suppose. 

Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.

Quoted to ensure posterity. Consider this to be contract witnessed.

+1

[smoothie]

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I say at the end of August we will have hit $12-$15/bitcoin.

I'll sell a bunch to you today for $11.  All that profit will be yours!

Where did I say I wanted to buy at $11?

How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you.

Deal?

Chicken?

Troll?

Chicken Troll?

 

I see that the noble jcpham took you up on your offer.

Room enough for your original friend?  Why be chickenshit over only 50btc, though?  Raise the stakes.  How about 100?  1000?  10,000?  Name your number, and I'll take you to the boards.

Aww you want in on the deal too?

Okay here I'll buy 0.01 btc from you at $11/btc. Sound good?

LOL

Edit: On Oct 31st, 2012

[smoothie]

I'll accept that $11 /per offer for October 31st. The coins will be waiting on you. You can pay now if you'd like (in full or a partial payment of 25%) and I'll hold on to them for you until that date. I can even find someone to escrow the coins until then if you would like.

Deal. I will buy them on Halloween from you and yes we will use an escrow.

Until October then, I suppose.  

Yes Oct 31st 2012 we will finish the deal. 50btc for $11 each.

Quoted to ensure posterity. Consider this to be contract witnessed.

+1

I mean, AFAIK someone owes me 550 bucks it seems. I think my point on futures didn't go un-noticed. But anyways, you guys have fun. I'd would've enjoyed the cash now to have to play with, I'm sure there is a wikipedia link or something that explains why I wanted the money now.

All in the future man...be patient it will come.  


EDIT: If I gave you the money now it would be no fun because I could easily buy bitcoins for less than $9 each right now.

[smoothie]

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I say at the end of August we will have hit $12-$15/bitcoin.

I'll sell a bunch to you today for $11.  All that profit will be yours!

Where did I say I wanted to buy at $11?

How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you.

Deal?

Chicken?

Troll?

Chicken Troll?

 

I see that the noble jcpham took you up on your offer.

Room enough for your original friend?  Why be chickenshit over only 50btc, though?  Raise the stakes.  How about 100?  1000?  10,000?  Name your number, and I'll take you to the boards.

Aww you want in on the deal too?

Okay here I'll buy 0.01 btc from you at $11/btc. Sound good?

LOL

Edit: On Oct 31st, 2012

I figured you were all talk, troll, both about your prediction and your "pile of coins".  No commitment to what comes out of your...keyboard.  So shameful.

I did stick to my deal. But then again you were too slow. Someone took me up on the offer. First come first serve, come after...get trolled.  

[smoothie]

Pirate's announcement of interest rates cut for August 1st and beyond tells me that his profit margin is either getting diminished or he wants to up his profit margin to have more "pull" in the market.

Either way these next 6 weeks should be interesting in bitcoin price terms.

I say at the end of August we will have hit $12-$15/bitcoin.

I'll sell a bunch to you today for $11.  All that profit will be yours!

Where did I say I wanted to buy at $11?

How about this I'll accept your offer in October okay? Let's say Halloween (October 31st). I'll buy 50 BTC at $11 each on that day from you.

Deal?

Chicken?

Troll?

Chicken Troll?

 

I see that the noble jcpham took you up on your offer.

Room enough for your original friend?  Why be chickenshit over only 50btc, though?  Raise the stakes.  How about 100?  1000?  10,000?  Name your number, and I'll take you to the boards.

Aww you want in on the deal too?

Okay here I'll buy 0.01 btc from you at $11/btc. Sound good?

LOL

Edit: On Oct 31st, 2012

I figured you were all talk, troll, both about your prediction and your "pile of coins".  No commitment to what comes out of your...keyboard.  So shameful.

I did stick to my deal. But then again you were too slow. Someone took me up on the offer. First come first serve, come after...get trolled.  

I assumed you meant me when you did your "from you" (emphasis yours) in reply to me.  But if you can't afford 1,000 btc of what you think is a sure bet, I understand.  We can't all be good at math.

Not all of us "gamble" to make millions. Some of us do it for the mere fun of it, hence the smaller amount. Problem?

[smoothie]

Not all of us "gamble" to make millions. Some of us do it for the mere fun of it, hence the smaller amount. Problem?

No problem.  Just making it clear you make claims and pronouncements even you don't believe.  And you're a coward.  I didn't say 100,000 coins because I thought it was a bit excessive to fleece you that thoroughly.  Plus, you don't have it. 

Oh that would explain why I'm taking up someone on a 50btc futures exchange on 10/31/2012?

Aww you have to resort to name calling? "coward"? Good job you just showed me your immaturity right there. That's cool. I don't cry when I don't get my way like you.

Duh I don't have 100k btc...you could talk to pirate though 

[smoothie]

I hate that the thread turned sour as well. I'd echo reeses comments and say that math is in my favor, any time I can sell a couple coins for 2x, 3x, maybe 11x what it cost me, I win. If I got some money upfront for it, that's a bonus as I now have your money in my possession to do with as I please. We won't even go into mined coins, just set that notion aside and look at the financials of the deal.

I understand. I'm doing this more for lulz than anything else.

Perhaps some profit too. Who knows where the price will be at that point.

  either way i'm happy!

[BTCurious]

I hate that the thread turned sour as well. I'd echo reeses comments and say that math is in my favor, any time I can sell a couple coins for 2x, 3x, maybe 11x what it cost me, I win. If I got some money upfront for it, that's a bonus as I now have your money in my possession to do with as I please. We won't even go into mined coins, just set that notion aside and look at the financials of the deal.

Actually, there's a bit more detail to it than that. It's called the time value of money, and it basically means having money now is worth more than having money in the future, because right now you can make more money with that money.

So yes, while you, right now, can buy coins for $9, it also means your coins are locked until the end of October, and can't be used to make more money. It's very possible that you could have made more than this $2 per coin with it if you didn't go into this trade, perhaps even by simply waiting for the price to rise.

So what smoothie does actually makes sense, assuming he's certain enough about the price being over $11 then.

[BTCurious]

While I agree that I'm probably loosing out in potential profit, an $11 /per sale is profitable to me. Always will be, from this point forward, nothing can change it. He's laughing, I'm not; he says it is a joke. I say it isn't a joke. I'm EXTRA willing to take the loss now for his money, NOW.

He's laughing because he doesn't know how to put his stance in words properly. His position is easily defensible. It might be that this is a good deal for both of you, it depends a lot on your personal time value of money.

[thezerg]

While I agree that I'm probably loosing out in potential profit, an $11 /per sale is profitable to me. Always will be, from this point forward, nothing can change it. He's laughing, I'm not; he says it is a joke. I say it isn't a joke. I'm EXTRA willing to take the loss now for his money, NOW.

He's laughing because he doesn't know how to put his stance in words properly. His position is easily defensible. It might be that this is a good deal for both of you, it depends a lot on your personal time value of money.

If his position was not defensible there would be no stock options or futures market.  Thinking you got the best of the deal due to its structure alone is myopic.

You essentially just sold a covered call.  Since you are making a profit at the call price its a very good strategy especially when the market is flat or down, and I think you got a GREAT price for the sale of this option.  

But if a BTC is worth 100 bucks in October you will be less happy with your call at 11.

[imsaguy]

I'd also like to point out that without some type collateral/principle/earnest now, it's pretty difficult to consider it any type of futures deal. My unique situation allows me to "put my money where my mouth is" and profit, regardless. Now that I've opened my mouth, I'll pay 50BTC just to make it go away, frankly. I'd like to keep up my good reputation because it actually means something to me and I'm not here to talk shit and fuck about.

I made the deal, provided counter terms, they were accepted, a renege was made on the 25%. I'm still willing to send 50btc to someone if they want to escrow, you can work out the cash with smoothie. 25% is what it takes for what is most likely one hell of a good deal, today. The rocket appears to be taking off so to speak, yet I'm only still looking for $137.50 in escrow, which would, in fact secure coins in October, at 11$ /per. The price was 1$ less when I said it yesterday.

Whatever. Troll or participate, it doesn't matter to me.

I'll throw it in an Armory wallet if it really makes you feel better.