Author Topic: New Bitshares/ Bitcoin Gateway - testers needed - and Bitcoin Giveaway!  (Read 7953 times)

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Offline xeroc

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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 :)

Offline bitmarley

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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? 


julian1

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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

Offline ozvic

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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.

Offline ozvic

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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. :)


Offline fundomatic

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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

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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.
 

Offline ozvic

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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

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Quote
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.


Quote
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.
« Last Edit: December 22, 2014, 08:03:23 pm by julian1 »

Offline 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
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julian1

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Blockchain get transaction: blockchain_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be

Code: [Select]
    "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]
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

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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.

Offline 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).
My opinions do not represent those of metaexchange unless explicitly stated.
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Offline 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?
« Last Edit: December 22, 2014, 04:39:05 pm by Riverhead »

Offline bytemaster

Fundomatic,

I have receipts for your 3 Bitcoin transfers,
 327 | {"name":"btc_receive_unconfirmed","txid":"c40c5c7e09c16a17a377e1422c3301e012b8d2455a94944db3b741e0d1596cb6"}
 334 | {"name":"btc_receive_unconfirmed","txid":"b52c9ed271f1a0ede85848390814aee6eaf0cd99229bffa1cd8c23ede4dfa088"}
 341 | {"name":"btc_receive_unconfirmed","txid":"94215cf3a658776d859a07411ca183e987c4f470ff41965092de62412ff0aa89"}

These were confirmed, GATEBTC orders generated, and funds sent (wallet_transfer_to_address) to BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9

 333 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":36,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"b9d65e6c964c896cd00944656df46327a4ad1e7e"}
 340 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":37,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"446de66b89a0ae0454f47304c057a85758d5498a"}
 347 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":38,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be"}

The blockchain shows your account's current active-key is BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U,

>  blockchain_get_account fundomatic {
  "id": 31548,
  "name": "fundomatic",
  "public_data": null,
  "owner_key": "BTS7RBe8PsscS9vbh3dK9tUbS4RX5VWMHPM3gGeR2ooikqnomSpgz",
  "active_key_history": [
    [
      "2014-12-20T13:41:00",
      "BTS7enjF9KDg2Y1Kxo8LJ8ydp67Tou4ppGuMqvoS6i13ocyCvLVDk"
    ],
    [
      "2014-12-21T08:48:00",
      "BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U"
    ]
  ],

Using the Bitshares bts_key_info util on that active key, indicates the native address to which funds were sent ( BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9) is correct.

~/bitshares/programs/utils$./bts_key_info BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U
{
  "public_key": "BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U",
  "native_address": "BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9",

So at this point, I do not know why you aren't seeing the GATEBTC in your wallet!

What puzzles me is that I can confirm successful BTS transactions on my node,

wallet_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be | egrep 'confirmed|block_num'
  "block_num": 1315350,
  "is_confirmed": true,

While, if I go to http://www.bitsharesblocks.com/blocks/block?id=1315350, there are no transactions recorded for the block.

I will raise a support request here and hold-off distributing any more funds until we can clarify the issue precisely. Edit: xref https://bitsharestalk.org/index.php?topic=12548.0


Blockchain get transaction: blockchain_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be

Code: [Select]
    "chain_location": {
      "block_num": 1316155,
      "trx_num": 0
    }
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline theoretical

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?

I was thinking of implementing something like this using an atomic cross-chain trading protocol, but the way I was thinking of implementing it would require extensive implementation and testing, and require delegates to run a BTC node.

Having Ripple-style UIA captures at least 80% of the value for at most 20% of the effort, and has the added benefit of creating a niche for new or existing exchanges to build a business on our platform.
BTS- theoretical / PTS- PZxpdC8RqWsdU3pVJeobZY7JFKVPfNpy5z / BTC- 1NfGejohzoVGffAD1CnCRgo9vApjCU2viY / the delegate formerly known as drltc / Nothing said on these forums is intended to be legally binding / All opinions are my own unless otherwise noted / Take action due to my posts at your own risk

merockstar

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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?

No, not without a built in spread.  This would put exchange risk on the gateway.

I've been wondering about this too but it makes sense from a legal perspective to not want to be an exchange proper.

Nonetheless, why not integrate an actual Bitcoin wallet into BitShares, and just not make it tradeable (or only tradeable for GATEBTC). Then some people will become aware of BitShares just because they were using it as a Bitcoin wallet.

sumantso

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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?

No, not without a built in spread.  This would put exchange risk on the gateway.

Any way around this? Is that kind of wallet even being considered? It would have helped pitch BitBTC to BTCtalk users and then draw them in the ecosystem.

What about a service similar to BitCNY/CNY (where they maintain the peg)? Sorry if these all sound stupid, I don't understand the mechanisms well enough.


Offline bytemaster

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?

No, not without a built in spread.  This would put exchange risk on the gateway. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

sumantso

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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?

Offline fundomatic

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julian1

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Fundomatic,

I have receipts for your 3 Bitcoin transfers,
 327 | {"name":"btc_receive_unconfirmed","txid":"c40c5c7e09c16a17a377e1422c3301e012b8d2455a94944db3b741e0d1596cb6"}
 334 | {"name":"btc_receive_unconfirmed","txid":"b52c9ed271f1a0ede85848390814aee6eaf0cd99229bffa1cd8c23ede4dfa088"}
 341 | {"name":"btc_receive_unconfirmed","txid":"94215cf3a658776d859a07411ca183e987c4f470ff41965092de62412ff0aa89"}

These were confirmed, GATEBTC orders generated, and funds sent (wallet_transfer_to_address) to BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9

 333 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":36,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"b9d65e6c964c896cd00944656df46327a4ad1e7e"}
 340 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":37,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"446de66b89a0ae0454f47304c057a85758d5498a"}
 347 | {"name":"bts_asset_transfer_confirmed","order_details":{"id":38,"value":0.001,"symbol":"GATEBTC","address":"BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9"},"record_id":"c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be"}

The blockchain shows your account's current active-key is BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U,

>  blockchain_get_account fundomatic {
  "id": 31548,
  "name": "fundomatic",
  "public_data": null,
  "owner_key": "BTS7RBe8PsscS9vbh3dK9tUbS4RX5VWMHPM3gGeR2ooikqnomSpgz",
  "active_key_history": [
    [
      "2014-12-20T13:41:00",
      "BTS7enjF9KDg2Y1Kxo8LJ8ydp67Tou4ppGuMqvoS6i13ocyCvLVDk"
    ],
    [
      "2014-12-21T08:48:00",
      "BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U"
    ]
  ],

Using the Bitshares bts_key_info util on that active key, indicates the native address to which funds were sent ( BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9) is correct.

~/bitshares/programs/utils$./bts_key_info BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U
{
  "public_key": "BTS8PWULLnH7eFjwaR89Jtwz8kHUopKNK3AkMZcDiKRbbQUQELa5U",
  "native_address": "BTSHEqvNPEcRmTPLGypCTSdsqdV2w99L2or9",

So at this point, I do not know why you aren't seeing the GATEBTC in your wallet!

What puzzles me is that I can confirm successful BTS transactions on my node,

wallet_get_transaction c1fb52f1ed2da653289aaa8aefbdf0e0dd46e2be | egrep 'confirmed|block_num'
  "block_num": 1315350,
  "is_confirmed": true,

While, if I go to http://www.bitsharesblocks.com/blocks/block?id=1315350, there are no transactions recorded for the block.

I will raise a support request here and hold-off distributing any more funds until we can clarify the issue precisely. Edit: xref https://bitsharestalk.org/index.php?topic=12548.0


« Last Edit: December 22, 2014, 02:23:07 am by julian1 »

Offline abelljefrry

Awesome! Let me try it. Here's my new BTS account: btc.abelljefrry

I'll transfer the fund back and forth.
Need a designer for your project? Hire me! I accept BTS as payment :)

View my BitShares design portfolio here : bit.ly/BitSharesPortfolio

Offline emailtooaj

+5 this is a much needed project!!!
I hope you all can pull this off while also keeping it user friendly!



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Offline Rune

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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.

Offline fundomatic

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Hi, its 'fundomatic',

I don't seem to be able to gateway BTC into my bitshares account GATEBTC,

I tried sending from my blockchain.info account; Once with a custom setting 'from' key.

I did manage to gateway  GATEBTC into the BTC wallet, no problem.

Offline monsterer

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 :)
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

julian1

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Hi monsterer,

I'm aware of your great work and I promise I haven't looked, let alone used any of the code. I was actually investigating the key-change mechanics before some of the details were posted here and in that thread. I would like to open-source the project which is in ruby/postgres btw. Right at the moment though, there's a lot of detail in the bitcoin transaction scanning - checking inputs and ensuring outputs are definitely spendable, as well as coin management that needs further review before being fully disclosed.


Offline monsterer

I can't help thinking you may have duplicated a lot of the work I've been doing on this project. On the off-chance that your forked my github any chance of some pull-requests?

https://github.com/wildbunny/metaexchange

Are you open-sourcing your gateway?
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Rune

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Awesome! This is big news, could massively increase liquidity and also increase bitBTC usage

julian1

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Hi PC. Congratulations on the PTS DPOS chain! I actually had a version compiled and running against your test network for a while, but ended up getting sidetracked before I could try for a delegate.

The legislation where I am is very inadequate, and most guidance comes from tax rulings. It's high on my agenda - if I can get a minimal viable product working technically, then I intend to take further legal advice.

Offline graffenwalder

Hi graffenwalder,

Are you certain that you exported the private key for that bitcoin address into Bitshares and that it was for an uncompressed WIF key?

I believe the bitcoin address for BTS7iENuLaQpFicLqv41MPWn1czM1SbGNGYDhQHDygffuNxJjifTG should be,  13e1RxUvGR9CTnfPXxXn8g9p3rsHtt5nnx

Can you run,

> wallet_account_list_public_keys graffenwalder

And check?

Hi Julian,

Never mind, I'd rather not. This is a bit out of my comfort zone.
I wish you the best of luck, and hope others can help you out

Offline pc

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Hi Julian,

in what jurisdiction are you? Have you checked if your service is legal where you live?
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

julian1

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Hi graffenwalder,

Are you certain that you exported the private key for that bitcoin address into Bitshares and that it was for an uncompressed WIF key?

I believe the bitcoin address for BTS7iENuLaQpFicLqv41MPWn1czM1SbGNGYDhQHDygffuNxJjifTG should be,  13e1RxUvGR9CTnfPXxXn8g9p3rsHtt5nnx

Can you run,

> wallet_account_list_public_keys graffenwalder

And check?

Offline graffenwalder

Yes, sure send me some free BTC and GATEBTC:

BTC: 1KbpgP8H4B93NTKoAeqKvoKtaJgu73zeWz
BTS: graffenwalder

I'm not real technical, but from a trader point of view this post sounds a bit dodgy.
I hope others can prove me wrong.

julian1

  • Guest
The Bitshares/Bitcoin Gateway is inspired by Dan/Bytemaster's comments in this thread https://bitsharestalk.org/index.php?topic=11730.msg154450#msg154450 about how Bitshares is already a full decentralized exchange and how it should be easier to purchase and use BTS and BitAssets.

How does it work? In simplest terms, if you use/import the same private-key starting with a '5' into both Bitshares and Bitcoin wallets, then you can use the BTC Gateway to send Bitcoin in exchange for GATEBTC in your bitshares account, or GATEBTC for Bitcoin in your Bitcoin wallet. GATEBTC's value derives from the fact that it is one-for-one fully redeemable for Bitcoin.

(Note, If you want to experiment, please use Bitshares version 0.4.27 or greater since it fixes an important issue https://github.com/BitShares/bitshares/issues/1143

For example,

On the Bitshares' client, you'll probably want to create a new account. Export the private-key for an address from your Bitcoin client (I'll recommend blockchain.info at the moment for reasons explained later), or create one with https://brainwallet.github.io/ etc. Then create a new Bitshares account from the private-key on the command line with,

>  wallet_import_private_key  5JYR...WiWMt mynewaccount true

Ensure the private-key starts with a '5', (indicating uncompressed btc keys) and of course don't share the private-key! If you start with an existing Bitshares account then you'll need to update that account's active-key like this,

> wallet_account_update_active_key myaccount fundaccount 5JYR...WiWMt

Register the account name, and post it or the BTS address here and I'll send 0.01 GATEBTC (approx $3.20 USD) to test with.

To exchange the GATEBTC for Bitcoin, just send the GATEBTC to the 'gatewaybtc' account.

>  wallet_transfer 0.01 GATEBTC mynewaccount gatewaybtc

If all goes well, you will see an unconfirmed Bitcoin tx appear in your Bitcoin wallet after about 20 seconds.

It is also possible to send Bitcoin to the Gateway and receive GATEBTC in your Bitshares account. To do this, send Bitcoin from the wallet to the Gateway's Bitcoin address which is 1saPpnK1QydmWA7Qq9wPGMooKtmvD3gnR. The Gateway will issue and transfer GATEBTC after one confirmation. An important detail, is that all transaction inputs must refer to the same bitcoin address generated from the private-key otherwise the Gateway will be unable to determine what corresponding Bitshares account to send back to. I've tested using blockchain.info 'Custom' send feature and have scripts for bitcoind - other client's will vary.

About the BTC Gateway,

The Gateway is running Bitcoin and Bitshares full nodes, and is backed by a Postgresql database. GATEBTC is issued/burnt whenever new Bitcoin enters or leaves the system. This makes GATEBTC a provable fund that can be verified by checking the blockchain balances for 1saPpnK1QydmWA7Qq9wPGMooKtmvD3gnR and the GATEBTC shares issue.

Note, For anyone posting to receive free GATEBTC and Bitcoin, I'll be up for another few hours, but will check the thread again in the morning. I've posted a similar thread at /r/bitshares.