New Bitshares/ Bitcoin Gateway - testers needed - and Bitcoin Giveaway!

[xeroc]

why would I need to update my active key? I can use an existing account key.. dump the priv key and add the bts key to bitcoin clients .. not the other way round :)

[bitmarley]

Hi I started with BTC then received GATEBTC but I am a newbie and can't figure out how to sell it for BTS. I am getting an error saying I don't have enough funds to list my SELL offer on the GATEBTC/BTS market.

Do I need BTS to sell GATEBTC for BTS? 

[ozvic]

Cheers!

[julian1]

Have you got any(enough to cover transaction fees) BTS in your 'account 1' and 'account 2'?

Check out
>>> blockchain_market_order_book GATEBTC BTS
I've placed some orders their.

cheers.

Yeah have enough BTS in both accounts, but the GUI wasn't allowing me to send the GATEBTC hence the CLI.

If there were more people shorting or selling BitBTC and also willing to swap 1:1 for GATEBTC, IMO that would be a good way in/out of BTS. Especially considering there is no 'feed' for GATEBTC/BTS. Recently paid $10+ in fees to Bter doing a withdrawal.

May be moot when Monsterer gets his direct to BitAssets working smoothly anyway.

Hi Ozvic,

I updated the Gateway to support 'wallet_transfer_from' and reprocessed the order.

The Btc were sent to 1AVd14GFD6rX7meyPJdJcWgwjKfR6QMEBM, in this tx,
https://blockchain.info/tx/19644d0161e57eadb237ea89cd8f6c458d5ccce8dc6a39d47cd319e68fc3cbfa

[ozvic]

Have you got any(enough to cover transaction fees) BTS in your 'account 1' and 'account 2'?

Check out
>>> blockchain_market_order_book GATEBTC BTS
I've placed some orders their.

cheers.

Yeah have enough BTS in both accounts, but the GUI wasn't allowing me to send the GATEBTC hence the CLI.

If there were more people shorting or selling BitBTC and also willing to swap 1:1 for GATEBTC, IMO that would be a good way in/out of BTS. Especially considering there is no 'feed' for GATEBTC/BTS. Recently paid $10+ in fees to Bter doing a withdrawal.

May be moot when Monsterer gets his direct to BitAssets working smoothly anyway.

[ozvic]

Yeah was thinking that may be the issue. Used wallet_transfer_from rather than wallet_transfer. Not sure why .. think it was the first one I saw. :)

[fundomatic]

Hi,

5. Transferred 0.019998 GATEBTC to gatewaybtc (using cli as gui was saying insufficient funds and displaying 0.1 GATEBTC as the fee, wanted to use BTS as the fee).

Nothing coming through. I may have used the wrong transfer command? It is saying "ozvic as ozvic" rather than just ozvic as the sender? (wallet_transfer_from)

I use
>>> wallet_transfer
with no problem so far.

Have you got any(enough to cover transaction fees) BTS in your 'account 1' and 'account 2'?

Check out
>>> blockchain_market_order_book GATEBTC BTS
I've placed some orders their.

cheers.

[julian1]

Hi Ozvic,

I saw this transaction that was withheld in the Gateway logs,

INFO: 2014-12-31 20:25:12 +1100: BtsOrderProcessor, from unregistered account BTS6XdHRfF2ZYBDVKSHMXtAnn3ygEf6n8tn5xgry3oUi14iJ8mHQb

This is your old active-key. For some reason, bitshares has recorded the transaction and used the sender address (and the old one) rather than the registered account name.


Let me investigate further, and I'll process this again manually.

[ozvic]

Hey

Was just playing around/testing:

1. Sent 0.02 BTC to "account 1". 0.02 GATEBTC received successfully
2. Created Market order on GATEBTC/BITBTC from "account 2" selling 0.02 BitBTC. Bought/matched it with "account 1" successfully (assets swapped).
3. Did the reverse again. GATEBTC back in original account (minus small fee).
4. Made sure imported address was the active key for "account 1"
5. Transferred 0.019998 GATEBTC to gatewaybtc (using cli as gui was saying insufficient funds and displaying 0.1 GATEBTC as the fee, wanted to use BTS as the fee).

Nothing coming through. I may have used the wrong transfer command? It is saying "ozvic as ozvic" rather than just ozvic as the sender? (wallet_transfer_from)

7e9c38dc

Cheers.

[julian1]

Going USD->BTS without a centralized exchange would look something like this?

GATEBTC is proposed as a Bitcoin <-> BitAssets solution since GATEBTC can be exchanged for BTS, BitUSD or BitBTC etc using the trading features inside Bitshares decentralized exchange. This replaces the requirement to always rely on non-decentralized solutions like bter or btc38 to move value about.

Note though that there isn't currently a Bitshares market for GATEBTC and Bitshares assets, although it just needs someone to put in an order to sell! I do feel it's necessary to get the BTC/GATEBTC side of things established and build some experience with using it.

Shouldn't this be higher if the gateway is operational?

There's around 1.2 Bitcoin in the system at the moment - most transfers involve test-amounts of 0.01. Bitshares blocks isn't formatting the decimal places nicely, but it's possible to confirm balances,

> blockchain_get_asset GATEBTC  | grep current_share_supply
  "current_share_supply": 127750000,
  = 1.2775

While the Gateway's bitcoin address, https://blockchain.info/address/1saPpnK1QydmWA7Qq9wPGMooKtmvD3gnR shows a balance of 1.2759 BTC.

The difference of 0.0011 BTC is due to Bitcoin miner's fees when making transfers.

The Gateway could be changed to pass this cost to the end-user, but that would break the one-to-one ability to redeem which I feel is a really nice thing. At the moment I'm periodically burning a small amount of my own GATEBTC to keep them synchronized.

[fuzzy]

I'm aware of your great work and I promise I haven't looked, let alone used any of the code.

Well, the point of open source is that people look and indeed use the code which gets posted. It might have been nice just to save duplication of effort, is my point :)

Perhaps you could join forces and have GATEWAYBTC become the first "official" gateway of metaexchange? Over time we might want to have several BTC gateways but in the beginning we really only need one big gateway and then should try to get all BTC liquidity to go through it.

This is exactly my thoughts

[julian1]

Blockchain get transaction: blockchain_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be

Code Select Expand

    "chain_location": {
      "block_num": 1316155,
      "trx_num": 0
    }

Weird, I just downgraded from HEAD 5208a9b to tag: v0.4.27.1 for an unrelated reason, and downloaded the chain again. I get your matching blocknum now.

Code Select Expand

wallet_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be | grep block
  "block_num": 1316155,

blockchain_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be | grep block
      "block_num": 1316155,[code]


Not sure if this explains why he cannot see the funds though? Is there a wallet re-scan action that could be tried?

[sumantso]

Good work!

Speaking as a non-technical person, is it possible to have a similar service for BitBTC/BTC directly, and integrate it in a wallet where users can go from BTC to BitBTC and back seamlessly?

The project I'm working on will allow you to issue any bitAsset upon receiving bitcoins, so you could issue bitBTC, or an IOU, or even bitUSD (providing you had something to track the exchange rate).

Cool :)

Now lets see whether we can get that wallet too.

[monsterer]

Good work!

Speaking as a non-technical person, is it possible to have a similar service for BitBTC/BTC directly, and integrate it in a wallet where users can go from BTC to BitBTC and back seamlessly?

The project I'm working on will allow you to issue any bitAsset upon receiving bitcoins, so you could issue bitBTC, or an IOU, or even bitUSD (providing you had something to track the exchange rate).

[Riverhead]

Great work Julian. I am very much looking forward to taking this for a spin. Going USD->BTS without a centralized exchange would look something like this?

1) Traditional Bank -> Coinbase (ACH)
2) Coinbase -> BTC Wallet (PoW)
3) BTC Wallet -> BTC Wallet (PoW)
4) GATEBTC -> gatebtc.riverhead (DPoS)
5) gatebtc.riverhead -> riverhead (DPoS)

On bitsharesblocks.com asset GATEBTC is only showing a supply of 1. Shouldn't this be higher if the gateway is operational?