Purchased a 10,000 BTC PUT option today, history has been made - page 2.

Mt. Gox

full member

Activity: 350

Merit: 118

Not sure why so many people think OP actually bought 10,000 BTC. He clearly said in his original post that the option cost him $7.50 per BTC. 7.5*10,000 = $75,000.

I don't think it's a stupid move. Looking at the Bitcoin price charts, the trend has been going downwards ever since late 2013. Is it really that unrealistic to think that it won't continue declining for another couple of months?

Quote from: Q7 on May 02, 2015, 03:18:02 AM

I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.

You're probably thinking of shorting, which is a different thing. An option is essentially a bet that Bitcoin will/won't be above/below a certain price on/by a certain date.

chriswen

hero member

Activity: 756

Merit: 500

Quote from: manselr on May 01, 2015, 02:06:59 PM

Im sorry but I just can't believe you just bought 10K BTC like it's nothing without providing any proof. IF you are going to go as far as saying it on a public forum, you could at least provide some sort of evidence.

He didn't buy 10k BTC, he bought a 10k BTC Put option.

Quote from: redwine77 on May 02, 2015, 12:37:31 AM

Are there reliable(or half-reliable) sites to trade btc options?

There's coinut.com but you won't get anything close to that amount of volume.

You'd need to make OTC deals.

Quote from: Q7 on May 02, 2015, 03:18:02 AM

I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.

If it doesn't turn out he loses $75 000. If it does turn out he'll make $75000 for every $7.5 the price goes under 207.5.

chriswen

hero member

Activity: 756

Merit: 500

Quote from: ensurance982 on April 30, 2015, 07:37:22 AM

The things that's so risky with bets like this (it's a bet, basically) and shorts/longs on margin is the mere fact that the volatility can wipe you out completely, even if the general direction is in your favor. By just holding coins, this can't happen to you.

You can't get wiped out when you purchase options.

cozk

hero member

Activity: 812

Merit: 500

bitbollo

legendary

Activity: 3276

Merit: 3537

Nec Recisa Recedit

without the proof there is people that sell also tour effeil for sure.
probably it was only a 1 btc put option Wink

Phat Buzz Tart

member

Activity: 308

Merit: 10

Quote from: WhatsBitcoin on April 30, 2015, 02:19:54 AM

Found MPEX's owner in #bitcoin-assets who offered me a great deal (In my opinion) on a 3 month put option on the price of BTC tied to Bitfinex last ask price.

Strike price of $215 USD

Fee of $7.50 USD in BTC per BTC optioned.

Time for you all to lose your pants, socks, sweaters and all in BTC and for me to make THOUSANDS!

This is going to prove either a very smart or a very dumb move IMO.
One thing is for certain: It's a gamble.

I hope you put down only what you can afford to lose.

scryptasicminer

full member

Activity: 213

Merit: 100

Don't forget counter party risk.

jwcastle

member

Activity: 117

Merit: 10

It's like betting on the horses. It's a long shot, but I suppose you could make as much as 5 to 1 odds on it.
How credible is the person or organization selling you the option? How credible are you to pay up if it goes the other way?
Seems like a scam for everyone involved.

Q7

sr. member

Activity: 448

Merit: 250

I wonder what would happen if the coin price moves in the other direction. I'm sure you have all the plans put in place in case the result did not turn out as what you expected? By the way, just wondering where did you manage to secure that amount of funding? Kind of curious since that is not small amount by any means.

WhatsBitcoin

hero member

Activity: 560

Merit: 502

Cmon bitcoin drop now and make me money...

redwine77

newbie

Activity: 28

Merit: 0

Are there reliable(or half-reliable) sites to trade btc options?

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: S4VV4S on April 30, 2015, 04:06:40 AM

Quote from: EternalWingsofGod on April 30, 2015, 02:31:18 AM

Mircea and her shenanigans
Anyways post the relevant Bitcoin-Assets thread and log for evidence if you did take the bet.
Seems like a fun one if you actually have the money to put up.

Or if the offer is open to all users would like to see who bites on this Grin

I thought Mircea (Popescu) was a guy and was running a gambling site..

Or am I wrong and it was an exchange?

Wasn't it the guy called by the US agency to give info about his business to them?

Your correct partially, Mircea was a guy the person on the forums a long while back was portrayed as a girl
And mpex is technically an investment site and exchange.
That said one of their assets is a betting site (bitbet) so I can see why you got confused.
And yep that was the one also about Eric Vorhees and said FU lol.

manselr

legendary

Activity: 868

Merit: 1006

Im sorry but I just can't believe you just bought 10K BTC like it's nothing without providing any proof. IF you are going to go as far as saying it on a public forum, you could at least provide some sort of evidence.

galbros

legendary

Activity: 1022

Merit: 1000

If you are not trolling, which I figure is 50/50, you did get a good deal on the option. As a bitcoin fan I obviously hope you don't make a lot of money on your investment but for only $7.50 per bitcoin I think that is a great price. After all 3 months ago bitcoin was at what, $300+?

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Poor dude

Most of the options just never execute, the pricing model is like a casino house, your chance of winning against the house is extremely low

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: bitcoin_bagholder on April 30, 2015, 02:30:09 AM

10,000 BTC, yet you're posting to get peanuts from a lame signature campaign.

Hmmmmmm.....

Indeed, it seems strange, but I don't see why not make even more extra peanuts if you are going to be posting anyway? It's always good to make BTC no matter what, and it's an activity you'll be doing regardless you are rich or not (even tho if I was mega rich I would probably be too busy relaxing on a beach, but even then I would still be addicting to posting a bit with my smartphone lol).

selene72

sr. member

Activity: 294

Merit: 250

Obvious troll lol

OR

He managed to get 10k Bitcoins via signature camps. Cheesy

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: WhatsBitcoin on April 30, 2015, 02:19:54 AM

Time for you all to lose your pants, socks, sweaters and all in BTC and for me to make THOUSANDS!

Sum value of your assets is below $4,000 US, and I won't even mention your debt. You are a tiny fish in a small pond, you are lying, and worst of all you are boring.

ChuckBuck

hero member

Activity: 1372

Merit: 783

better everyday ♥

Quote from: darlidada on April 30, 2015, 07:50:08 AM

logs or it didnt happen

Exactly, need a transaction ID of some sorts, or this is just the OP trying to troll the shit out of us.

darlidada

hero member

Activity: 723

Merit: 503

logs or it didnt happen

Topic: Purchased a 10,000 BTC PUT option today, history has been made - page 2. (Read 4344 times)