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Option To Buy Dinars Incredibly Stupid?

rulesforrebels

By rulesforrebels,
in Buying and Selling Dinar

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rulesforrebels Newbie

rulesforrebels

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I was just curious what your guys thoughts were on the whole "option to buy" dinar thing.

Personally I hate it because it makes searching for actual dinars on ebay a pain I gotta sort through pages and pages of option to buy listings.

Couple things about them. Are they incredibly stupid and a scam or would any of you actually consider buying? I've been holding my dinar since shortly after it was issued so I guess I wouldn't count on buying and hoping for an RV over a short period of time like a week to 30 days.

I also just had another question I was curious about. I heard it was not allowed to sell dinars as an investment. Isn't the idea of an "option to buy" dinars in the case of an RV the definition of an investment?

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rulesforrebels Newbie

rulesforrebels

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It is risky (buying dinar on reserve), but, If you happen to do it and it RV's within the 30 day time frame......you win. You still have to pay for them but that would just be a formality. I would not do it myself but there are many who find the adrenaline rush exciting.......

I just can't see an upside to it. I can't picture a scenario where your better off buying an option vs buying the actual dinars, like you said your going to have to pay for those dinars even if it RVs and your option gets called so to speak so why not just buy them upfront? Even if all you got it $50 I think your better off buying $50 worth of dinar instead of an option.

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rulesforrebels Newbie

rulesforrebels

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It's for people that are financial drop outs. If you can't afford to buy Dinar outright, don't buy it.

What if it was to RV? Are they going to pay you? Send it in a Brinks Truck? Sounds kind of dicey to me. :P

I was thinking the same thing, I highly doubt these ebay sellers actually have dinar set aside to fulfill these options if it actually were to rv, I have a feeling people would wind up hearing sorry we dont have your dinar but we'll refund you your $50.

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uncirculd Newbie

uncirculd

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I was just curious what your guys thoughts were on the whole "option to buy" dinar thing.

Personally I hate it because it makes searching for actual dinars on ebay a pain I gotta sort through pages and pages of option to buy listings.

Couple things about them. Are they incredibly stupid and a scam or would any of you actually consider buying? I've been holding my dinar since shortly after it was issued so I guess I wouldn't count on buying and hoping for an RV over a short period of time like a week to 30 days.

I also just had another question I was curious about. I heard it was not allowed to sell dinars as an investment. Isn't the idea of an "option to buy" dinars in the case of an RV the definition of an investment?

Never buy on layaway or reserves. You cannot sell dinars as an investment. You must be registered. But you can sell them as a numismatic collector item.

Edited by uncirculd
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  • 5 weeks later...
phyter1 Newbie

phyter1

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I'm amazed that people are still getting suckered into this nonsense. This "option" to buy Dinars has been going on for a long time now. And theres a reason why people are selling the options.....and thats because they will never lose any money on it! Think of all the suckers who have purchased the 30 or 60 day options over the pas year....all of which probably were never exercised. So all the people who purchased the options lost their $$. And if if you decide to exercise the option and buy the dinar, they are WAY over priced. Either way, the buyer is getting screwed.

The revaluation talk has been going on for a long time now and it the dealers continue to make buyers think that it could happen "any day now". Yet the months keep on passing by with no revaluation and the dealers keep on selling options to suckers who get caught up in the hype of becoming an instant millionaire.

The pre-war dinar value is what the dealers use to suck buyers in. Anyone who does just a little research will find out that that exchange ratio was not legit. It was a arbitrary number set by Saddam which had no legitimacy outside of Iraq.

Do yourself a favor, stay away from the options. Its a business and business is booming for the dealers. 2 years from now, that revaluation will still be "right around the corner". The only money to be made here is if you're the one selling the options.

And IF a revaluation does come sometime soon, you still wont get rich. The current dinar will be exchanged for the new Dinar in the following fashion -

Right now

1160 IQD = 1 USD

After the revaluation, 1,000 IQD will be exchanged for 1 (new) IQD.

That 1 (new) IQD will = 1 USD

So anyone with half a brain will realize that there is no profit to be made off the revaluation.

Its very easy to understand. Many people have said it, but I'll say it again. Do you think that the dealers would be selling all their Dinar for a 60%-70% profit if they really believed that a "get rich quick" revaluation was in the future? If they really believed that 1,000 IQD will soon be worth $1,000 USD, would they really be selling 1,000 IQD for $1.50?

Take a second and think about it logically. I know its fun to think that you will be a millionaire just by spending $150.....but face it, its just a fantasy.

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DinarBot Newbie

DinarBot

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Keep Back 50 Feet. Your Option will be a Where's Waldo Episode When Rate Change Appears. Easier to find Hummus in a Camel Patty. The Real thing Hath No Sting. Sell off your Pet Rock collection and move on UP to the East Side. Beans Don't Burn on the Grill.

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phyter1 Newbie

phyter1

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I have some Dinar in my possession. I bought into this nonsense 4 years ago. Its funny to see that the prices on Ebay are way up even though the exchange rate hasnt moved in 5 years. I guess it just goes to show that more and more people are buying into this nonsense. A couple years ago 100,000 Dinar would cost $100. Now I see some people spending $140 for 100000. I dont know if demand is increasing or if the dealers are just slowly raising prices. Either way, the buyers are getting screwed. If your buying into the get rich quick story, then do yourself a favor and just buy the Dinar. Get them in your possession.

Who knows if the people selling the options even have the Dinar. Think about it. The people selling the options are offering you the option to buy the Dinar at 200% the current exchange ratio. So say you pay $50 for the option to buy 500,000 Dinar for $1000 in the next 30 days. The sellers are banking on the fact that nothing will change over the next 30 days and that nobody will exercise their option to buy because they have set the buy price at double what the current market value should be. But if there are a couple dumb people who decide to buy the Dinar within the 30 days for double the market value, the person selling the option just has to buy the Dinar for the normal rate and then send them to you. The seller will still be making a decent profit off the transaction. And if something crazy happens and the revaluation takes place.......do you really think that you're going to get your Dinar? The seller will just vanish in the wind and you will be holding an unofficial piece of paper stating that someone who you dont know, owes you some Dinar.

So my point is....if you're buying into this story, take physical delivery of the Dinar. Buy them and get them in your possession even though they will never make you rich.

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TimS Newbie

TimS

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It is risky (buying dinar on reserve), but, If you happen to do it and it RV's within the 30 day time frame......you win. You still have to pay for them but that would just be a formality. I would not do it myself but there are many who find the adrenaline rush exciting.......

All those should call GA as soon as possible....they have a problem :P But hey, to each his own... however a proffessional gambler knows the house has the mathmatical advantage and this option to buy is about a big a house advantage that I've ever seen B) It's a very bad bet ;)

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rulesforrebels Newbie

rulesforrebels

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Something else youll notice on most of these options are 1500 to exercise the option on top of whatever u paid for the option. People have been calling for an rv for uears and years and years so obviiusly nobody thus far would have been successful in timing the market. Seems the only peoplebimho who would buy this are either new to the dinar and currencies in general and is nieve or someone who doesnt have cash to just buy a million and who probably should be shrlling out koney on risky longshots in the first placen dinar imho is abpongshot even if you are holding for the lo-gterm and have actual physical holdings sso then add to that irbonly buying a 30 day window

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