4 ms·

No details, almost blank homepage asking for sign-up and a suspicious idea to begin with.

• jboggan 12y ago
  Our previous versions were solicited to friends and family, people who were going to sign up anyway and who knew roughly that we were trying to build a platform for Bitcoin derivatives. I suppose I've been way too focused on getting the double-entry bookkeeping and other accounting layers perfect to think "would I sign up for this landing page". So yes, this is very helpful feedback (even if it does make me feel a bit silly). Previous feedback had been that our tutorials were extremely long and that our interface was too cluttered; I think it's probable we swung too far in the opposite direction and need to find a healthy medium. I don't think it's a suspicious idea if you start to think about the problem that volatility causes with Bitcoin adoption. There are many derivatives platforms out there now beginning to grow but most cater to offshore sophisticated investors and speculators. We are trying to build a market around a derivative product that would be eminently useful to Bitcoin businesses and make serious steps towards other derivative products that would smooth out the bumps in the Bitcoin price. Thanks for the feedback.
  • eglover 12y ago
    Ugh, Bitcoins aren't stock, but I suppose for those caught up in its (so-called) "volatility" and whatever "derivatives" are supposed to be, this could be helpful. Sorry, not for me.
    • jboggan 12y ago
      The SEC agrees that they are not stock or securities! [1] Bitcoin payment processing (or ATMs, or foreign remittances) is going to be a big business but many of the current operators are charging only 1-3% as a transaction fee. It's not uncommon for there to be drops of that magnitude during the time it takes the payment to process and the transaction to verify in the blockchain, let alone be sold off as fiat to balance the payment processor's books. This is one way of hedging against that. It's also effectively a way to short Bitcoin in the short term (not to 0) since it gives you a way to profit from a downswing. [1] - http://www.sec.gov/oiea/investor-alerts-bulletins/investoralertsia_bitcoin.html#.U8cRYY1dWkQ http://www.sec.gov/oiea/investor-alerts-bulletins/investoral...
    • dllthomas 12y ago
      Futures are more important in commodities and currencies than they are in stocks.
  • wyrmlet 12y ago
    Interesting idea, and I like the clean interface, but I could use a bit more info. Where are those really long tutorials? Do I have the option to match someone else's order, or can I only list my own orders and hope someone out in the ether matches it?
    • jboggan 12y ago
      The really long tutorials are for options contracts which we are not offering to general users until there's some more regulatory clarity in the US. I am trying to adapt them to the forwards right now. If you unclick "Zero Cost" and then click the Buy or Sell button it automatically populates the Cost field at the price that will immediately execute against a standing order. Or you can fill your own price in if you'd like to have a different cost (or none upfront at all). I should point out that negative costs are allowed (where the seller pays the buyer for entering the contract, instead of the other way around. Thanks!