Bitoption.org -- ESCROWED LIVE Bitcoin Options Trading

[billyjoeallen]

Billy Joe is settled; just had to logout and back in.

FreeMoney seems to be settled from my side; just waiting to hear back from him/her.

That's correct. Now, if someone will just purchase my contracts...

[1713958734]

1713958734

[1713958734]

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[1713958734]

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[demonofelru]

Is bitoption down for others too or is it just me?

[FreeMoney]

Not going for me either. Maybe he took a break because he didn't think MtGox was actually coming back, lol.

[demonofelru]

Back up again at least for me.

[nrd525]

Bitoption is very slow currently.  Logging in took around a minute.  Getting my account balance took 2 minutes and 0 seconds.

(By contrast the MTGox update price function is very fast - 110 ms).

[Grant]

Anybody else having problems logging in today ?

I hit login, and the dialog dissapears without logging me on. (thats if i put the proper password, if i put a wrong password i get a dialog that the password is wrong).

[random_cat]

Grant: I was having that trouble as well until I cleared out the bitoption.org cookies.  I am not certain that fixed it because it does appear that sometimes the server fails to respond or responds *very* slowly.

[Kasmal]

I created an account and am having trouble adding funds. All I get is a pop-up box with the message
                    "Requesting Deposit Address..Please wait, this may take a bit.
                                                                 Ok"
It never actually shows me an address to send funds to, whether I leave the box open or closed.

[Stephen Gornick]

I created an account and am having trouble adding funds.

You likely missed their caveat:

Mt. Gox API has changed radically in undocumented ways; their site is also unstable right now.
The following won't work until Gox gets totally up and running: Depositing, Exchanging

 - https://bitoption.org

[Dark Shikari]

I registered, but it won't let me log in; it claims nonexistent username and password.  But if I try to register again using the same email, it fails (I assume because there's already an account there).  What could be wrong?

[Nefario]

Has anyone heard from BitOption?

I've sent him mails and PM's but nothing back, is he alright (or is this an orchastrated attempt by the forum to snub me)?

[kokjo]

Has anyone heard from BitOption?

I've sent him mails and PM's but nothing back, is he alright (or is this an orchastrated attempt by the forum to snub me)?

his profile say he was active 2 days ago.

[brendio]

Has anyone heard from BitOption?

I've sent him mails and PM's but nothing back, is he alright (or is this an orchastrated attempt by the forum to snub me)?

He has not yet responded to my strongly worded post in the status thread. Hard to know whether he's done a runner with our BTC and USD, is travelling or has bin hit by the proverbial bus. The latter does make me worry that there is a risk to my Bitcoin and USD even if BitOption is totally honest. I would love to invest more funds than I have, but for now it's too big a risk.

[Nefario]

I would doubt that he's done a runner, much more btc to be earned in doing business at this stage than in stealing. And it's not hard comparatively to do business now.

The problem is a lot of these projects, even the bigger one are driven by one person, so that if something does happen then the project dies. It's the same with GLBSE, I'm the only one who can do anything with the server, partly for trust and security reasons, but also because I've not found anyone that could replace me.

I get hit by a bus GLBSE is toast(including the bitcoin stored there, although the btc that is vested with our treasurer would be able to cover it).

He's probably had to go somewhere, I don't have anything tied up in bitoption btc or cash wise, I'm just concerned if something has happened.

[nrd525]

He might be working on implementing European options. 

I logged in today and the slow login problem was fixed!

I'd put up some contract offers, but I'm wondering if I should wait for the European options?

[brendio]

The site is a bit hard to use when the deposit function is not working. There is a put option currently selling for below its intrinsic value, but there's no point me buying it because I don't have a spare bitcoin with BitOption to be able to exercise it and can't deposit another one.

To be clear, I also don't think he's done a runner, and more likely is snowed under with work, but my concern still remains with any Bitcoin related financial project that it does require a significant amount of trust and when you have no recourse and know little more about the counterparty beyond a name on a forum, then you are taking a big risk. This should be a concern for operators as well if they want to move beyond being playthings to serious financial tools.

[demonofelru]

He isn't responding to my questions either.  Usually he's very responsive he hasn't been on the forum either though hope he's ok.

[bitoption]

Hi Everyone,

I am Okay, I got many nice requests for a personal update in the last day.

Here's my story -- I pulled out all the stops to launch Bitoption and carved as much family and work time out as I possibly could about a month ago. It was up and running, and then Mt. Gox crash happened, necessitating a similar two week death march, roughly, to fix against the new API, plus fix some open issues you all had discovered.

I got overwhelmed (and needed to see my kids and dayjob again for a bit).

During that period, there were four withdrawal requests that took longer than two days to process; two are still outstanding, and should get out today. I'm sorry about that, I'm aiming for 12 hour response time, plus automating everything that can be so there's zero wait time.

As penance, I've hired someone to work on this full-time -- Ryan, codename Bitoption Support on the forums (he's currently waiting to get out of the newbie jail here in the forums).

What Ryan is doing right now is writing a market-making bot; we will be posting it to github and open sourcing it pretty soon now. It's pumping out put/call prices, but it needs to be tested, and it will need a few new API functions written. I'm hopeful that Friday / Saturday it will go out, but one of us will update here in any event.

What I'm doing right now is encapsulating the Mt. Gox exchange API into a testable framework, one that we'll be able to use for other exchanges. We used to be able to do all our bookkeeping with Mt. Gox API calls, this is no longer the case, and that's part of what's taking the extra time; we have to implement a bunch of little tricks to make sure we don't have nasty race conditions in the exchanging portion.

We also needed to implement our own deposit mechanics, since Mt. Gox no longer provides the same deposit support. That's mostly done.

I promised European only as of 6-30, but I've been hesitant to do so when I'm unable to fully test new changes, a lot is in flux all at once, again a sort of sticking point that I'm working to rehab right now with the codebase.

Essentially, I beg your pardon, and I'm working on improvements as fast as I can, plus I'm putting my money where my mouth is to make sure this gets off the ground. Let me know if you have thoughts or suggestions.

[Grant]

Thanks a lot for the update, very much appreciated

[bitoption]

Fun Update: Ryan's market maker bot is spitting out prices and backtesting nicely. We're working to hook it up tomorrow / Monday /Tuesday .