Satoshi Option - Instant Binary Options | On-Site Wallet | Open Source BTC Feed - page 5.

stshiOption

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Trade binary options with Bitcoin!

Quote from: EnergyVampire on March 27, 2013, 05:58:18 PM

Your website is pretty nice. Cool

I hope you continue expanding your offerings. I would be interested in CBOE style options.

Wouldn't BitStamp be a better choice over TradeHill? Grin

Glad it's easy on the eyes. Always a bonus.

We are looking to expand our offerings on whatever the demand stipulates. CBOE style options are more like traditional options. Compared to European options, they can be exercised at any time, and not JUST at the point of expiry? Obviously for pricing the European style options (like Binary Options) the Black–Scholes model is a good starting point. On the other hand there is no general way to price CBOE style options , assuming they can be exercised at any point. We'll have to look into pricing these according and/or get a price feed from somewhere.

We actually just started work on Bitstamp today. Consider it work in progress!

EnergyVampire

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Your website is pretty nice. Cool

I hope you continue expanding your offerings. I would be interested in CBOE style options.

Quote from: starsoccer9 on March 27, 2013, 09:08:34 AM

Quote from: stshiOption on March 25, 2013, 03:36:47 PM

Now, for that spec of our BTC/USD pricing:

We currently use a weighted average of mid ((bid+ask)/2) prices from four exchanges: MtGox, Tradehill, Coinbase, and Bitfloor. While a price is considered 'good', it has a weight in the average of 1.

A price is considered good for a 5 second window since it was last updated. When we lose connectivity to an exchange, its price will stop updating and will age. After 5 seconds, the weighting of the price starts to exponentially decay (based on time), until eventually, its effect diminishes completely.

We poll for new prices from the exchanges every second, and use a streaming connection to MtGox.

Preety sure tradehill is dead so im not really sure how your using there price

Wouldn't BitStamp be a better choice over TradeHill? Grin

stshiOption

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Quote from: starsoccer9 on March 27, 2013, 09:08:34 AM

Preety sure tradehill is dead so im not really sure how your using there price

Nope, Tradehill is back. Alive and well

https://www.tradehill.com/

stshiOption

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Quote from: ?? on ??

You are running a gambling racket (under the guise of a financial instrument) with an EV of -0.65. Get over it.

Definition: Racket, A service that is fraudulently offered to solve a problem.

I'm sorry, are we on the financial instruments section of this forum? I didn't think so.

Given that we posted in the GAMBLING section, and our website states "form of gambling on the stock market", I think it's pretty clear that we acknowledge binary options could be considered gambling. In our opinion all forms of trading are a gamble.

Not to mention, your calculation of EV makes no sense given that there are different payouts for different assets, AND soon to be different payouts for different option durations (including options on the end of day price).

Accordingly, we're not convinced your opinion is a useful addition to this thread so we're going to ignore you from hence forth. You just seem full of hatred and have clearly spent too much time with the trolls.

starsoccer9

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Quote from: stshiOption on March 25, 2013, 03:36:47 PM

Now, for that spec of our BTC/USD pricing:

We currently use a weighted average of mid ((bid+ask)/2) prices from four exchanges: MtGox, Tradehill, Coinbase, and Bitfloor. While a price is considered 'good', it has a weight in the average of 1.

A price is considered good for a 5 second window since it was last updated. When we lose connectivity to an exchange, its price will stop updating and will age. After 5 seconds, the weighting of the price starts to exponentially decay (based on time), until eventually, its effect diminishes completely.

We poll for new prices from the exchanges every second, and use a streaming connection to MtGox.

Preety sure tradehill is dead so im not really sure how your using there price

fishface

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Quote from: stshiOption on March 27, 2013, 08:35:51 AM

Bit harsh/hostile...

Nonetheless, point taken. We think it's to do with the Kendo UI and knockout bindings that refresh that part of the page for the live price. When you begin to try and copy the address, it effectively refreshes that part of the page and deselects it.

We'll get that fixed today.

I have enjoyed using the service so far, and have 2 wins and 0 losses

I agree about the copypasta issue, but it is beatable- I have just been right clicking and viewing source, then copy pasting the address from the source code.

stshiOption

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Bit harsh/hostile...

Nonetheless, point taken. We think it's to do with the Kendo UI and knockout bindings that refresh that part of the page for the live price. When you begin to try and copy the address, it effectively refreshes that part of the page and deselects it.

We'll get that fixed today.

gmiwenht

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stshiOption

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Second update of this week
- Now offering basic charting functionality (to be improved)
- Trialing the offering of multiple assets, EUR/USD and BTC/USD (subject to change)

Forthcoming updates
- Multiple time periods for the existing live assets

As a reminder, a maximum of 0.1BTC per trade/bet is currently in place.

stshiOption

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We have just made a major design release to the Satoshi Option website, that provides significant insight into the features that you will be able to use moving forward. Let us know what you think about it and also, tell us if you like the features that you can clearly see are en route. For example, the design allows us to offer multiple assets over multiple time periods. Based of early user feedback on this forum and elsewhere, options longer than 60 seconds are desirable. Accordingly, we have some in the pipeline.

http://www.satoshiOption.com

Looking forward to your comments/requests/questions.

stshiOption

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Now, for that spec of our BTC/USD pricing:

We currently use a weighted average of mid ((bid+ask)/2) prices from four exchanges: MtGox, Tradehill, Coinbase, and Bitfloor. While a price is considered 'good', it has a weight in the average of 1.

A price is considered good for a 5 second window since it was last updated. When we lose connectivity to an exchange, its price will stop updating and will age. After 5 seconds, the weighting of the price starts to exponentially decay (based on time), until eventually, its effect diminishes completely.

We poll for new prices from the exchanges every second, and use a streaming connection to MtGox.

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Quote from: stshiOption on March 24, 2013, 05:39:16 AM

Yeah, it would be nice if connectivity was better for us regarding mtgox. Similar to our EUR/USD pricing, we will look to pull the price from multiple high quality sources to get a price that is as accurate/recent as possible. This is particularly relevant for BTC/XXX, where trades are less frequent.

Our intention is to be 100% transparent with all appropriate technical specs, especially on details such as these, so we will publish the smoothing spec and the exchanges we use so people can calculate the precise same price should they wish. We're busy on working up a new design, more durations and other instruments at the moment so we'll get onto providing this detail tomorrow at the latest since we recognize it's important.

To provide a brief description, it's basically a weighted average of mids where the weight reflects the recency of the price. Like I said, full disclosure later.

* stshiOption gets back to Sublime Editor

That's great! As long as you have a spec that others can reproduce the price, it makes it 'provably fair' and others know that you're not influencing the price displayed (except for trading on the actual market).

stshiOption

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Yeah, it would be nice if connectivity was better for us regarding mtgox. Similar to our EUR/USD pricing, we will look to pull the price from multiple high quality sources to get a price that is as accurate/recent as possible. This is particularly relevant for BTC/XXX, where trades are less frequent.

Our intention is to be 100% transparent with all appropriate technical specs, especially on details such as these, so we will publish the smoothing spec and the exchanges we use so people can calculate the precise same price should they wish. We're busy on working up a new design, more durations and other instruments at the moment so we'll get onto providing this detail tomorrow at the latest since we recognize it's important.

To provide a brief description, it's basically a weighted average of mids where the weight reflects the recency of the price. Like I said, full disclosure later.

* stshiOption gets back to Sublime Editor

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Quote from: stshiOption on March 23, 2013, 08:02:56 PM

Quote from: playtin on March 23, 2013, 06:32:12 PM

Would you reveal which exchange you use for the rate?

We're using a combination of exchanges, with smoothing. We'd ideally like to stick to one, but found that there either isn't enough volume or the API isn't reliable enough (Mtgox). If BTC/USD isn't popular, we'll probably switch back to EUR/USD on Monday, given that we have more established data there.

Using multiple exchanges is cool, but smoothing? Details? Roll Eyes

Anyone needs to be able to derive the same numbers as you, or it's likely that you're cheating / fudging with the numbers to make people lose more often like other binary options sites.

stshiOption

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Quote from: playtin on March 23, 2013, 06:32:12 PM

Would you reveal which exchange you use for the rate?

We're using a combination of exchanges, with smoothing. We'd ideally like to stick to one, but found that there either isn't enough volume or the API isn't reliable enough (Mtgox). If BTC/USD isn't popular, we'll probably switch back to EUR/USD on Monday, given that we have more established data there.

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Quote from: stshiOption on March 23, 2013, 05:44:26 PM

Thanks for the support SRoulette, and for the feedback, it's much appreciated!

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

Seriously? Don't give another bullshit as "custom source".

Please explain how the price can update when I don't even see a trade on any of the major exchanges.

Use data from one large exchange.

playtin

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Quote from: stshiOption on March 23, 2013, 05:44:26 PM

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

Would you reveal which exchange you use for the rate?

stshiOption

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Trade binary options with Bitcoin!

Thanks for the support SRoulette, and for the feedback, it's much appreciated!

Update: We've now added a BTC/USD option (as traditional forex only trades on weekdays). Give it a go, and let us know what you think.

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Bitcoins won: ∞

MPOE-PR

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Quote from: SRoulette on March 22, 2013, 07:46:48 PM

For this type of service (and most others) #bitcoin-otc is old and completely irrelevant.

There are three types of idiots in this world. One says "this is old and therefore good". The other says "this is new and therefore better".

And then there's people like you, going "this thing isn't impressed with me so therefore I am better than it". No baby, you're not. The WoT is still the standard, you're still a wanna-be dice op thing. This situation will continue indefinitely, inasmuch as the only way it can change is by you submitting to it.

Topic: Satoshi Option - Instant Binary Options | On-Site Wallet | Open Source BTC Feed - page 5. (Read 16783 times)