Topic: Futures Contract (Read 345 times)

As I have mentioned before I am looking for a seller I can buy from whenever I need to, during the week. I am in need of BTC weekly.

Thus I have thought of a method, as many sellers don't want to sell when price goes down and when price goes up people don't want to buy as much.

I am offering this:

5 BTC purchase per week contract or $2500 per week contract, can be legally binding contract and have car as collateral should I fail to make the weekly payment in a timely manner. If you are not trusted I will require some form of collateral held by a trusted escrow here. Should I default on a payment, I have 30 days to make the rest of the payment(s).

I sell BTC for profit so there is no way I default on this. Current cash in hand is near around $3700. If I do, car would be sold or a loan taken out on the car to pay you back.

I am also fine with depositing a certain amount of cash to one's bank account BEFORE the week begins if you are trustworthy.

The futures contract price would be carried out on a specified time, preferably Monday or Friday.

Should one create a contract for BTC I would put in a contingency that there would be a min and max I would pay per BTC. For example:

Contract is canceled should BTC fall below $150 or go above $700. The amount BTC would go higher would be higher than the cancel cost for going too low, this benefits you.

If you are interested in this let me know. I am offering Bitstamp +1% at the time of the contract price being initiated each week.

Contracts would be weekly and the full contract would be a period of 1 month, renewable if both parties wish at the end of the term.