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Bitcoin Will Break $500USD Before January 1, 2016

Bitcoin Will Break $500USD Before January 1, 2016
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Bitcoin
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Description

The conditions of this bet will be satisfied if the price of 1 Bitcoin passes $500 US dollars by December 31st 2015.

Decision Logic

Verification will be based on the average Bitpay rate.
If the Bitpay USD rate passes $500 dollars any time before December 31st 2015 the condition will be met.

https://bitpay.com/bitcoin-exchange-rates

4661
CLOSING IN2015-11-04 06:00:00

2:22AM, Jul 12, 2015 UTC

6:00AM, Nov 4, 2015 UTC

3:01AM, Dec 3, 2015 UTC

Early Outcome

RESOLVED AT 2:04PM, Dec 6, 2015 UTC

Total Volume: 0.3606

This bet has been resolved!

The outcome was "Yes"

0.36061931 was split between 7 bettors.
YES
Volume:0.0836
0.51235628
# of Bets:7
NO
Volume:0.2770
1.917075
# of Bets:3

Discussion

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Avalon 7:55PM, Dec 9, 2015 UTC
To respond to those who reported it as No: The bet can be early resolved early if 'Bitcoin hits $500' before EoY, which it has. Please read the decision logic above carefully.
Avalon 7:54PM, Dec 9, 2015 UTC
Good job Yes bettors. Sorry for the delay in getting this settled.
mabuis 12:38PM, Dec 9, 2015 UTC
So what's going on with this bet?
Jamphone 3:15PM, Dec 6, 2015 UTC
@kibblesnbitz Thanks for chiming in. Don't use Bitpay as a measure again - if you want a weighted index use the winkindex as they publish their data
kibblesnbitz 2:05PM, Dec 6, 2015 UTC
Hey everyone - sorry I was away for a few weeks. After review, it looks like a number of major exchanges had BTC above 500, if only for a few moments. Congrats!
Jamphone 5:43AM, Dec 3, 2015 UTC
I agree. Thank you for reviewing this. BitPay was a badly chosen metric
Avalon 3:47AM, Dec 3, 2015 UTC
Please see here for the data: https://mega.nz/#!LlkEyA6a Key: !CdQqTOTsr__KIXDzFEEgplIE-OFzVud9S1GDvhSd7YU The host has been notified via email. Bet will be closed barring further information after 24 hours.
Avalon 3:44AM, Dec 3, 2015 UTC
@Jamphone - We're calling this one 'asleep at the switch' and will cancel the bet unless someone proves it WASN'T above $500. We have done our own independent research and pulled minute rates from bitcoinaverage that we collect ourselves here at BetMoose. BitcoinAverage uses a similar market-weight algorithm. We have found a high of $496.57 using that method. However, we have also seen trades at the largest exchanges cross $504 during trading. The technically correct thing to do here is cancel.
Jamphone 11:40AM, Nov 27, 2015 UTC
@Avalon This bet should really be over - the price crossed $500 a few weels ago. @kibblesnbitz
Jamphone 11:40AM, Nov 25, 2015 UTC
@Avalon I contacted Bitpay and they will not release historical information - which makes this bet ridiculous, @kibblesnbitz shouldn't have pickd it - but Bitpay mirrors the markets and ALL of the major markets were above $500, if however briefly, this making the outcome "Yes"
Jamphone 2:53AM, Nov 24, 2015 UTC
@Avalon I understand. I'm just saying this bet will never end - the creator chose a price index that posts no historical data. It clearly crossed $500 with the rest of the exchanges - but will be impossible to prove. What is there to wait for?
Avalon 5:41PM, Nov 23, 2015 UTC
@Jamphone - As you know, we don't monitor the outcomes. It's up to the bettors to either claim an outcome with backup evidence, or for the host to resolve without a counter claim by bettors.
Jamphone 7:16PM, Nov 20, 2015 UTC
Jamphone 7:16PM, Nov 20, 2015 UTC
Bitpay doesn't publish historical data apparently, but they use a moving average that is in line with Coinbase, Coinbase was over $500.
Avalon 5:10PM, Nov 20, 2015 UTC
@Jamphone - we need something concrete that it was in fact over $500 if you'd like an early resolve.
BetMoose 10:27PM, Aug 21, 2015 UTC
Updated to 2015 from 2014.
kibblesnbitz 5:55PM, Aug 18, 2015 UTC
Sorry - it was a cut/paste from last year. Can the mods change it?
Nightshader 3:42PM, Aug 14, 2015 UTC
The logic is flawed "before December 31st 2014" ?

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