Option to buy 10,000 LTC - page 2. | Bitcointalksearch.org

420

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Quote from: Scott J on January 28, 2013, 03:15:33 PM

Quote from: 420 on January 26, 2013, 04:29:23 PM

I'm thinking though that a simple escrow at the END of the contract would solve at least some of the trust problem. Most likely LTC won't be to the moon in just 6 months anyway

I would do $0.08 sell price if you promise to buy in 6 months; no upfront fee.

If this offer is still available, I would like to take you up on it.

Let me know, then we can work out the details.

I am still interested in an option contract, but that will probably have to wait about month - I'll see if you are still interested in that nearer the time.

i'm thinking 5 months for 5,000LTC if you promise to buy; or else risk your reputation

price $0.08 paid in gox usd. which means 1.5% less btc-e usd...

for the OPTION to buy I'll do the same price deal with an upfront fee of 10% additional.
0.08 * 0.10 = 0.008 * 5,000 = $40

I realize how poor a deal I got with smoothie; but anyway that will keep me hedged and gain me reputation

But this deal here won't last long either; or if I offer to everyone or get another offer it could be gone

I will however do different deal terms coming up or if you agree now I may be able to work something different for instance increasing the contract from 5k to 10k LTC

Scott J

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Quote from: 420 on January 26, 2013, 04:29:23 PM

I'm thinking though that a simple escrow at the END of the contract would solve at least some of the trust problem. Most likely LTC won't be to the moon in just 6 months anyway

I would do $0.08 sell price if you promise to buy in 6 months; no upfront fee.

If this offer is still available, I would like to take you up on it.

Let me know, then we can work out the details.

I am still interested in an option contract, but that will probably have to wait about month - I'll see if you are still interested in that nearer the time.

Scott J

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Just wanted to say that I'll come back to this in a day or two, I'm definitely still interested.

cptmooseinc

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+1 Thaddeus

This thread initially asked for an option contract. 420 said he'd be more interested in forward contract. I'm just putting my two cents in to try and help the process along. I am all for the option contract, and against a delivery contract. ^_^

It's simply a better deal for both parties involved as long as a premium is paid on the contract.

ThaddeusB

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Note to all, an option never obligates the purchaser to buy (or sell). Please do not call obligatory contracts options; it just confuses matters.

420

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we can always compromise; maybe half escrow; i'm starting to get an interest in an upfront fee though overall i'd lose ltc savings due to escrowing until the end of the contract

most ways though' you're looking at a higher price you'll probably have to pay me if you wait a month.

cptmooseinc

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420,

You technically made him a better off than he made you. His offer, based on a price of $.065/LTC (which you could buy 5K of right now on BTC-e for that and a little less), works out to, with his upfront fee, $.0165/LTC profit for you in the end if he exercises his option to buy. You offered to basically take $.015/LTC, but you get to keep the coin you have to continue trading. I guess it's to decide whether or not $.0015/LTC is worth it to keep the coin or not to day trade. The forced purchase is a little much. I'd take the upfront fee, do no escrow (420 seems to have quite the basket of LTC, as he's paid me for a couple of jobs and has other dealings with me in them), and agree upon a $.075 option to buy. Then 420 can continue day-trading to grind his cost basis down to next to nothing, and Scott J isn't forced to by if the coin hovers too low to be attractive to execute (but still could if he so wished for that set price).

-Moose

Scott J

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Thanks for the quick reply.

Do have a think about my proposal - I don't want to agree a deal until the start of next month anyway.

As for your offer - I will definitely consider it and may take you up on it, though primarily I am interested in having the option to purchase.

420

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Quote from: Scott J on January 26, 2013, 04:23:46 PM

Thanks for your informative post, cptmooseinc.

Quote from: 420 on January 24, 2013, 09:10:13 PM

I wouldn't do my Litecoin in escrow because The ability to trade them generates me revenue

If you were to get a same 1 year contract as smoothie

I could do 5,000 for $0.08; not necessarily with upfront fee; would you escrow a down payment?

I can see why putting the coins into escrow may not work for you if you use them to trade.

The problem I have is that the greater profit I make, the greater incentive there would be for the other party to keep the coins. I wouldn't want to have to worry about this.

How do you feel about this deal, in principle:

5000 LTC are kept in escrow for 6 months
I pay a 10% fee direct to you as soon as the coins are escrowed (to offset loss of trading earnings)
I have the option of buying the coins and receiving them immediately, by paying you $0.075 per coin
If I haven't exercised the option after 6 months, you receive the coins back from escrow.

I may want both the contract duration and amount of LTC to be increased on the above, if you were open to that.

I will think about that.

I am a man of my word; you would get the coins at the agreed price; and I would not take a contract I wasn't comfortable with. 5,000 in 6 months I am comfortable with.

I'm thinking though that a simple escrow at the END of the contract would solve at least some of the trust problem. Most likely LTC won't be to the moon in just 6 months anyway

I would do $0.08 sell price if you promise to buy in 6 months; no upfront fee.

The biggest thing I've done is sold my rig I had $1,000 in escrow until the buyer received the rig. I had to trust them and the escrow agent and of course I delivered and I received my funds

https://bitcointalksearch.org/topic/m.1282243

Scott J

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Thanks for your informative post, cptmooseinc.

Quote from: 420 on January 24, 2013, 09:10:13 PM

I wouldn't do my Litecoin in escrow because The ability to trade them generates me revenue

If you were to get a same 1 year contract as smoothie

I could do 5,000 for $0.08; not necessarily with upfront fee; would you escrow a down payment?

I can see why putting the coins into escrow may not work for you if you use them to trade.

The problem I have is that the greater profit I make, the greater incentive there would be for the other party to keep the coins. I wouldn't want to have to worry about this.

How do you feel about this deal, in principle:

5000 LTC are kept in escrow for 6 months
I pay a 10% fee direct to you as soon as the coins are escrowed (to offset loss of trading earnings)
I have the option of buying the coins and receiving them immediately, by paying you $0.075 per coin
If I haven't exercised the option after 6 months, you receive the coins back from escrow.

I may want both the contract duration and amount of LTC to be increased on the above, if you were open to that.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: 420 on January 24, 2013, 09:10:13 PM

I wouldn't do my Litecoin in escrow because The ability to trade them generates me revenue

If you were to get a same 1 year contract as smoothie

I could do 5,000 for $0.08; not necessarily with upfront fee; would you escrow a down payment?

Good point. Having the ability to use the funds is also a key option to consider.

My $700 is not tied down until Jan 1st 2014. So I could potentially use that money to make the money for that purchase. If I am that good at trading LTC/BTC etc.

420

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I wouldn't do my Litecoin in escrow because The ability to trade them generates me revenue

If you were to get a same 1 year contract as smoothie

I could do 5,000 for $0.08; not necessarily with upfront fee; would you escrow a down payment?

cptmooseinc

sr. member

Activity: 396

Merit: 250

Scott J,

I just posted a detailed reply to how a transaction like yours should work in smoothie's thread. I suggest you go read it and go from there. Also, if more people become interested in doing this, I suggest whoever offers such trades to make each "contract" worth 1000LTC and create a pool of LTC to offer out to people. 10k LTC doesn't come easy or cheap if you try and get it all at once. Such interest and buying power will quickly drive the price up if purchasing isn't done over weeks. If 420 were to be interested in your request, I suggest he offer to sell you them at $.08/LTC for $.0125/LTC fee up front.

Scott J

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I may be willing to increase the purchase price if that would help, however I would obviously expect the fee to be lower.

burnside

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Lead Blockchain Developer

Answering the rest of your question is much harder. The market seems to be taking some pretty wide swings these days and I'm not sure anyone with 10k LTC is going to see an upside to selling them at 0.062 without a pretty steep fee.

Cheers.

Scott J

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Thanks, I meant $0.062. I have edited the OP.

burnside

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Quote from: Scott J on January 24, 2013, 01:26:50 PM

Reading about smoothie's LTC futures contract has interested me.

Say I wanted the option to purchase 10,000 LTC at the time of my choosing within 6 months @ USD 0.62 each.

What fee would people require for this contract?

I would want the LTC to be held in escrow until either I purchase them or the six months are up.

$0.62? or $0.062?

Scott J

legendary

Activity: 1792

Merit: 1000

Reading about smoothie's LTC futures contract has interested me.

Say I wanted the option to purchase 10,000 LTC at the time of my choosing within 6 months @ USD 0.062 each.

What fee would people require for this contract?

I would want the LTC to be held in escrow until either I purchase them or the six months are up.

I have agreed a deal with 420 here:
https://bitcointalksearch.org/topic/m.1491233

Topic: Option to buy 10,000 LTC - page 2. (Read 2713 times)