Have I won or what?
Yuhuu!
You can pay in my signature address.
At current price would be 0.8 BTC.
But of course you can wait the end of day maybe you'll get a better quote.
Topic: Bears, Put Your Money Where Your Mouth Is - page 4. (Read 7199 times)
So?
'Tis very normal.
sort of slow revival.
See? up already 
what if MtGox is down forever?
MtGox won't be down forever? Its a DDOS attack. People that think its going to randomly be down forever are the people that sell off like idiots. And if it were, we would all be so screwed $100 would be the least of our problems.
It'll probably be back up by the time the bet expires anyway. If it isn't, then we can worry about other stuff.
what if MtGox is down forever?
I would propose an average from the others exchanges.
of course we need a price quotation from somewhere else.
No, we will wait till Gox gives a price just like said in the OP. The price you picked on open was based on the goxxian price, btc-e was already much lower than gox was at the time.
of course we need a price quotation from somewhere else.
I guess I will win this time.
We are in bear mode! Doesn't someone want to short!
I am always willing to short, but not on bad odds.
1. Since when were you shorting, you looked like a permabull.
2. I pretty much offer the best odds on binary options on any instrument anywhere.
exactly!
This is really cool. I've just been playing with http://www.bitescrow.org/
Took a while for me to get my head around it, but damn, this is an awesome idea.
exactly!
So for a large bet we have to trust you AND MtGox.
But I have read this
https://bitcointalksearch.org/topic/two-factor-bitcoin-bip38-as-escrow-169957
http://www.bitescrow.org/
https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft
and this a different aproach.
And a better one!
We do not have to trust the escrow, we need the third party only as a judge if we do not agree. And the judge can not "run-away" with the wage. He needs one of us.
The only problem is that this is an essentially Bitcoin technology (Another good reason to be long term bullish), so considering that I want the bet to be denominated in USD, the bull has to deposit more BTC at the begining, just to cover BTC decline in price.
On the other hand if the the Bull wins he will take only a part from the deposit equivalent to USD (higher price BTCUSD).
So we can pay the "judge" only if we need his opinion; or a basic small fee for keeping the 3rd key and a bigger fee if we need his opinion.
But I have read this
https://bitcointalksearch.org/topic/two-factor-bitcoin-bip38-as-escrow-169957
http://www.bitescrow.org/
https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft
and this a different aproach.
And a better one!
We do not have to trust the escrow, we need the third party only as a judge if we do not agree. And the judge can not "run-away" with the wage. He needs one of us.
The only problem is that this is an essentially Bitcoin technology (Another good reason to be long term bullish), so considering that I want the bet to be denominated in USD, the bull has to deposit more BTC at the begining, just to cover BTC decline in price.
On the other hand if the the Bull wins he will take only a part from the deposit equivalent to USD (higher price BTCUSD).
So we can pay the "judge" only if we need his opinion; or a basic small fee for keeping the 3rd key and a bigger fee if we need his opinion.
I recall seeing this before, and have now read into it further. This looks incredibly cool. I'd love to act as 3rd party just to give it a try.
I guess the only downside is, as you acknowledge, the bull needs to deposit extra bitcoin to account for adverse exchange movement.
I'm guessing that this would be implemented as two separate three-party transactions, given that each transaction has a single payer?
So for a large bet we have to trust you AND MtGox.
But I have read this
https://bitcointalksearch.org/topic/two-factor-bitcoin-bip38-as-escrow-169957
http://www.bitescrow.org/
https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft
and this a different aproach.
And a better one!
We do not have to trust the escrow, we need the third party only as a judge if we do not agree. And the judge can not "run-away" with the wage. He needs one of us.
The only problem is that this is an essentially Bitcoin technology (Another good reason to be long term bullish), so considering that I want the bet to be denominated in USD, the bull has to deposit more BTC at the begining, just to cover BTC decline in price.
On the other hand if the the Bull wins he will take only a part from the deposit equivalent to USD (higher price BTCUSD).
So we can pay the "judge" only if we need his opinion; or a basic small fee for keeping the 3rd key and a bigger fee if we need his opinion.
But I have read this
https://bitcointalksearch.org/topic/two-factor-bitcoin-bip38-as-escrow-169957
http://www.bitescrow.org/
https://en.bitcoin.it/wiki/User:Casascius/Escrow_scheme_draft
and this a different aproach.
And a better one!
We do not have to trust the escrow, we need the third party only as a judge if we do not agree. And the judge can not "run-away" with the wage. He needs one of us.
The only problem is that this is an essentially Bitcoin technology (Another good reason to be long term bullish), so considering that I want the bet to be denominated in USD, the bull has to deposit more BTC at the begining, just to cover BTC decline in price.
On the other hand if the the Bull wins he will take only a part from the deposit equivalent to USD (higher price BTCUSD).
So we can pay the "judge" only if we need his opinion; or a basic small fee for keeping the 3rd key and a bigger fee if we need his opinion.
well, in this case at least, it is quite simple, we agreed from the beginning to have the bet in USD. And use Bitcoin just for value transmitting properties.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
If you're willing to trust me and mtgox, I can offer said service. I am in Australia, so my USD account is empty. There are others on these forums that offer escrow services as well.
what's your price?
This is the first time I've done this, so I'll offer it for the cost of the conversion trades on each side (0.6% each way, per person, so 1.2% each).
The only proviso is that I won't carry any delay risks for conversion of bitcoin to US$. As long as the size of the bets aren't large and you send the coins when I'm awake and at a vaguely pre-determined time, the price you send at should be the price I buy at.
for small bets I do not need escrow. As you can see I already trusted OP with a 100 USD bet (and another 1$ already finished).
well, in this case at least, it is quite simple, we agreed from the beginning to have the bet in USD. And use Bitcoin just for value transmitting properties.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
If you're willing to trust me and mtgox, I can offer said service. I am in Australia, so my USD account is empty. There are others on these forums that offer escrow services as well.
what's your price?
This is the first time I've done this, so I'll offer it for the cost of the conversion trades on each side (0.6% each way, per person, so 1.2% each).
The only proviso is that I won't carry any delay risks for conversion of bitcoin to US$. As long as the size of the bets aren't large and you send the coins when I'm awake and at a vaguely pre-determined time, the price you send at should be the price I buy at.
well, in this case at least, it is quite simple, we agreed from the beginning to have the bet in USD. And use Bitcoin just for value transmitting properties.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
For higher value bets we do need an escrow able to receive BTC and transfer it to USD, than keep the dollars safe until the end.
I think this is not a trivial problem.
If you're willing to trust me and mtgox, I can offer said service. I am in Australia, so my USD account is empty. There are others on these forums that offer escrow services as well.
what's your price?
We are in bear mode! Doesn't someone want to short!
I am always willing to short, but not on bad odds.
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