
The world's first Bitcoin-settled index futures - andrew_m
https://mushino.com/
======
scottlocklin
Lol, who are these people and why should anyone trust them?

even their github for their API is the cringe inducing: "This organization has
no public members. You must be a member to see who’s a part of this
organization."

~~~
mike_trex3
Hey, Mike from Mushino here.

You don't really need to trust us in the beginning, since you can get started
with just 1 USDT.

That's enough to open a position of $10 (using 10x leverage) or $100 (using
100x leverage).

We also have a no-deposit welcome bonus ($12) that you can claim and use to
open new positions - completely risk free.

As for the lack of transparency - you are completely right.

We literally just launched 2 days ago and haven't got around to listing our
team yet. We are working on that right now and will be publishing an "about
us" page within the next week or two. Expect to see changes soon.

Please let me know if you have any other questions. You can also ping me in
the chat @mike, or in our Telegram channel and I'll be happy to answer.

~~~
joosters
Apparently you also have to trust all the other anonymous users of the
exchange. From their risk disclosure:

 _Trading the Futures exposes you to credit risk. This is the risk that one or
more of your counterparties have deposited insufficient Collateral into their
Account(s) such that you may not receive some or all the Digital Asset they
owe you_

So this exchange lets you place a trade, but even if you win, the counterparty
might not pay you! This, coupled with their ludicrous 100x leverage, is a
recipe for disaster.

------
cwkoss
Very meager market depth. Can clear out the order book by selling a whole
bitcoin.

Also: "For legal reasons, we are not allowed to do business with customers
from the United States of America, Crimea and Sevastopol, Cuba, Iran,
Pakistan, Sudan, North Korea and Syria.."

~~~
mike_trex3
Hey, Mike from Mushino here.

You're completely right about the liquidity. We just launched two days ago and
haven't brought in any major market makers yet. We're currently in talks with
some, so expect to see more liquidity very soon.

And yes, for legal reasons we are not allowed to accept customers located in
the US. Neither are most other crypto derivatives exchanges (Bitmex, Deribit,
FTX). It really is an unfortunate state of affairs.

~~~
paultopia
I've never been more grateful for the protections of U.S. law. 100x leverage
to gamble in cryptocurrencies? There's a recipe for the bankruptcy courts.

------
marriedWpt
"It's possible to deposit, trade and withdraw without ever completing any
KYC."

How is this legal?

~~~
three_seagrass
I was thinking the same. It's inviting a world of hurt when your assets get
frozen across the platform because someone else used it as part of their fraud
scheme.

------
bdibs
I don't think leveraging (let alone at 100x) and crypto is a great mix for
obvious reasons. Also:

"As one of very few exchanges, we got an A+ score in the Mozilla Observatory
Security Test. We have lost $0 to hacks since our launch."

I'm unsure how the first part is really relevant, and you've lost $0 to hacks
since your launch, 2 days ago?

------
robtaylor
Send us £1500 and we will give you $62 sign up deposit bonus.

Random new internet site promises to let you have your £1.5k back too!

Not for me, Clive.

~~~
mike_trex3
I completely understand your point of view here - as a trader, I would also be
careful depositing into new exchanges.

If you're not comfortable with doing so initially, you can also claim a $12
sign-up/social bonus. Requires no deposit, and can get you a position with
size up to $1200 or equivalent.

------
derision
Can't wait to see how this goes wrong. 100x leverage? Here we go..

~~~
allenrb
Gets you where you’re already going, faster!

------
croddin
I think something like this would be better as an etherium smart contract
using oracles to get the crypto prices. Then you wouldn't have to trust a 3rd
party (as long as the oracles work right)

~~~
redis_mlc
Should this have a /s, or not? I can't tell! :)

------
jkol-
Also in what way is this a world first?

~~~
harriston3
I think they are referring to their BTC-settled index futures.

Only FTX has them right now - but theirs are settled in USDT, not in BTC:
[https://contractmarketcap.com/](https://contractmarketcap.com/)

------
nneonneo
Where the literal hell did you get your certificate from? This thing is like a
who's who of shady domains:

Common Name: app.groupchat.co

DNS Name: admin.lotto-dd.com

DNS Name: ads.noedgesoftware.com

DNS Name: api.picniic.com

DNS Name: api.plancto.com

DNS Name: app.decisao.net

DNS Name: app.groupchat.co

DNS Name: app.taifho.com

DNS Name: archaapps.com

DNS Name: aseanport.com

DNS Name: asielroofcompany.com

DNS Name: aurenice.tk

DNS Name: beta.g17.eco

DNS Name: beta.medicswitch.com

DNS Name: cfi.internal.develop.foodpairing.com

DNS Name: chat.hopkins.optelgroup.com

DNS Name: crm.mafdrive.ru

DNS Name: dice-of-god.com

DNS Name: dinorabazar.com

DNS Name: eatthethings.com

DNS Name: ecelladgitm.in

DNS Name: events.modus.vc

DNS Name: gamerwordjar.com

DNS Name: greenpiglet.com

DNS Name: imported.buja101.com

DNS Name: insidestack.com

DNS Name: insult.arnigu.info

DNS Name: jbsalenger.com

DNS Name: jooyoung.tk

DNS Name: jscimoveis.com

DNS Name: kyuuventure.com

DNS Name: lifeaceleradora.com.br

DNS Name: lisatb.com

DNS Name: loccitane-omy-experience.com

DNS Name: login-int.setkeeper.com

DNS Name: luyendethuongnhattraidat.tk

DNS Name: m-int.setkeeper.com

DNS Name: magicdocs.co

DNS Name: moletrappernearme.com

DNS Name: mushino.com

DNS Name: mypabox.com

DNS Name: nu12.dk

DNS Name: oaktown-greens.com

DNS Name: omkar.co

DNS Name: pathshala.samkitgroup.com

DNS Name: pattayaclub.it

DNS Name: pay.mealhero.me

DNS Name: pesquisa.corfio.com.br

DNS Name: petrafilme.com

DNS Name: piservertesting.com

DNS Name: postal.gift

DNS Name: ptmt.co

DNS Name: pwa.movementtracker.app

DNS Name: pwa.orderfly.in

DNS Name: review2019.bioproaplus.org

DNS Name: saraketabi.com

DNS Name: sitebuild.io

DNS Name: staging.playmetric.io

DNS Name: sub4.fdltest.net

DNS Name: sub5.fdltest.net

DNS Name: sub6.fdltest.net

DNS Name: sub7.fdltest.net

DNS Name: sub8.fdltest.net

DNS Name: webcomponents-qa.truckstop.com

DNS Name: www.archaapps.com

DNS Name: www.archeapps.com

DNS Name: www.asielroofcompany.com

DNS Name: www.bebyjay.com

DNS Name: www.birensuthar.com

DNS Name: www.bugrakara.com.tr

DNS Name: www.corfumap.tk

DNS Name: www.dice-of-god.com

DNS Name: www.dinorabazar.com

DNS Name: www.downmood.com

DNS Name: www.eatthethings.com

DNS Name: www.ecelladgitm.in

DNS Name: www.gamerwordjar.com

DNS Name: www.glowdeck.com

DNS Name: www.irix.pw

DNS Name: www.jscimoveis.com

DNS Name: www.kulxtreme.ga

DNS Name: www.kyuuventure.com

DNS Name: www.lost-monsters.com

DNS Name: www.nu12.dk

DNS Name: www.odhg.org

DNS Name: www.omkar.co

DNS Name: www.pattayaclub.it

DNS Name: www.perfi.eu

DNS Name: www.petrafilme.com

DNS Name: www.petrashortfilm.com

DNS Name: www.piservertesting.com

DNS Name: www.play-hangman.app

DNS Name: www.postal.gift

DNS Name: www.ptmt.co

DNS Name: www.rentingway.com

DNS Name: www.saraketabi.com

DNS Name: www.sitebuildergenie.com

DNS Name: www.tnsj.pt

DNS Name: www.unfabricate.com

DNS Name: www.wapini.eu

DNS Name: www.zzinc.com

~~~
mike_trex3
DNS-01 challenge from Lets Encrypt as part of our deployment process.

We didn't specify a common name so I guess Lets Encrypt just picked something
random, haha.

Thanks for making us aware!

------
naveen99
LOL shit coin index... shitcoins are shitcoins. No big market by definition.

However, Its only a matter of time till somebody tries to enable virtual sp500
btc settled futures. Although the cftc might take a more aggressive approach
in shutting them down.

