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Offline alt


you can exchange any of these asset: BTS,USD,CNY,EUR,GOLD,SILVER,BTC,BOTSCNY
just transfer to account exchange.btsbots, with memo to claim what's you want to exchange
for a example, exchange CNY with USD,
Code: [Select]
wallet_transfer 0.88 USD baozi exchange.btsbots CNY
please test with a small amount, I have set a limit to 100 CNY, when you are over this limit,  will give you a change
thanks for testing
现开放BTS内盘资产兑换服务,支持的资产包括:BTS,USD,CNY,EUR,GOLD,SILVER,BTC,BITYUAN

使用方法:
发送以上任意资产到 exchange.btsbots, memo 注明想兑换的资产,比如想用美元买人民币
Code: [Select]
wallet_transfer 0.88 USD baozi exchange.btsbots CNY

注意:
测试期间请小额测试,最大额度我设置为100CNY,超过部分会自动找零

欢迎大家使用,并提供建议  :)

You can also do it on the GUI . send the asset to exchange.btsbots with the memo of the asset you want .
 
« Last Edit: February 05, 2015, 12:05:03 AM by alt »

Offline btswildpig

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Re: BTS asset exchange launched
« Reply #1 on: February 03, 2015, 01:54:42 PM »
To sum up , this is essentially kind of like the BTS version of "shapeshift" inside of BTS wallet  market .   :P
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Offline BunkerChain Labs

Re: BTS asset exchange launched
« Reply #2 on: February 03, 2015, 01:56:29 PM »
To sum up , this is essentially kind of like the BTS version of "shapeshift" inside of BTS wallet  market .   :P

 +5% Thanks for simplifying  :D
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Offline Gentso1

Re: BTS asset exchange launched
« Reply #3 on: February 03, 2015, 02:03:33 PM »
To sum up , this is essentially kind of like the BTS version of "shapeshift" inside of BTS wallet  market .   :P

 +5% Thanks for simplifying  :D

very cool, lets try to keep as many of these transactions on the internal network as possible.

Offline xeroc

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #4 on: February 03, 2015, 02:17:54 PM »
ha? why would I use a service for exchange when I can do the exchange in the market myself?
What's the use-case here?
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Offline tinker

Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #5 on: February 03, 2015, 02:18:19 PM »
 +5% +5% +5%

Offline cn-members

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #6 on: February 03, 2015, 02:20:43 PM »
ha? why would I use a service for exchange when I can do the exchange in the market myself?
What's the use-case here?

because you don't need to go to each of the exchange pair and think about the price .
It's done lazy guy style .
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Offline heyD

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #7 on: February 03, 2015, 02:38:02 PM »
ha? why would I use a service for exchange when I can do the exchange in the market myself?
What's the use-case here?

The awful wallet. The bitusd<--> bitcny market is not lived.

Buy bitbtc when you think btc will climb up and vice versa.

Offline Rune

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #8 on: February 03, 2015, 02:41:57 PM »
ha? why would I use a service for exchange when I can do the exchange in the market myself?
What's the use-case here?

This is factually really big. I had been hoping someone would make something like this, as it's a vital piece of infrastructure.

The light wallet cannot trade on the DEX. With a bridge like this then all light wallets have access to easy trading with market orders. Once the system has proven reliable I think the best of these services should be incorporated directly in the GUI of the light wallets. Over time a rating system and alert system can be put in to reduce risk, but at first our focus should be the immediate UX benefit this service has over using the DEX directly for casual traders.

Offline arhag

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #9 on: February 03, 2015, 02:46:58 PM »
How about allowing the following syntax for the memo:
[<to-account>] [<target-asset-amount>] <target-asset-type>

The optional argument to-account is the BTS account name that you want the target asset to be sent to. If you omit this argument, exchange.btsbots will send the target asset back to the sender after conversion.

The argument target-asset-type is the BitAsset (or BTS) to convert to: BTS, USD, CNY, EUR, GOLD, SILVER, etc.

The optional argument target-asset-amount is a number which is the amount of the target-asset-type to convert the source-asset-type into. It also acts as a price limit. If it is not possible to convert the source amount into target-asset-amount quantity of target-asset-type given the current state of the market, then exchange.btsbots will simply return the source amount back to the sender (minus small transaction fee). If the amount sent is in excess (again after any fees) of the amount necessary to convert to target-asset-amount quantity of target-asset-type, then the remainder will be returned back to the sender.

This can essentially simulate Ripple's path finding algorithm (until it can eventually be built into the blockchain) if you are willing to accept the counterparty risk. It also (as Rune mentioned) allows light wallets to do limited forms of trades with BitAssets before the exchange code is made available for light wallets (again if they are willing to accept the counterparty risk).
« Last Edit: February 03, 2015, 02:56:34 PM by arhag »

Offline alt

Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #10 on: February 03, 2015, 02:55:29 PM »
How about allowing the following syntax for the memo:
[<to-account | self>] [<target-asset-amount>] <target-asset-type>

The optional argument to-account is the BTS account name that you want the target asset to be sent to. You can also write "self" or not include anything at all, and it will send the target asset back to the sender after conversion.

The argument target-asset-type is the BitAsset (or BTS) to convert to: BTS, USD, CNY, EUR, GOLD, SILVER, etc.

The optional argument target-asset-amount is a number which is the amount of the target-asset-type to convert the source-asset-type into. It also acts as a price limit. If it is not possible to convert the source amount into target-asset-amount quantity of target-asset-type given the current state of the market, then exchange.btsbots will simply return the source amount back to the sender (minus small transaction fee). If the amount sent is in excess (again after any fees) of the amount necessary to convert to target-asset-amount quantity of target-asset-type, then the remainder will be returned back to the sender.

This can essentially simulate Ripple's path finding algorithm (until it can eventually be built into the blockchain) if you are willing to accept the counterparty risk. It also (as Rune mentioned) allows light wallets to limited forms of trades with BitAssets before the exchange code is made available for light wallets (again if they are willing to accept the counterparty risk).
it's a good idea
but I am afraid the memo is no so much

Offline Rune

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #11 on: February 03, 2015, 02:59:23 PM »
Also I think the most immediate awesome feature this could bring everyone directly in their wallet is if it can take BTC addresses in the memo and send BTC to them.

So if I want to send 100 bitUSD worth of BTC to the BTC address 1abcdefg...

Then I send 100 bitUSD to exchange.btsbots with 1abcdfeg in the memo. This won't even require you specify BTC because that is given from the address.

Bam, easiest way to pay for anything with bitcoin directly from your BTS wallet.

New memo can take 51 characters so it should be enough
« Last Edit: February 03, 2015, 03:38:05 PM by Rune »

Offline arhag

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #12 on: February 03, 2015, 03:03:38 PM »
it's a good idea
but I am afraid the memo is no so much

According to this, we will have 51 bytes. If we assume sending to self, that gives 3 characters to uniquely identify most BitAssets (BitGold -> GLD, BitSilver -> SLV), 1 character for the space, and 47 characters for the quantity (which is more than enough). If we assume that we won't typically need more than 8 characters for the quantity (say 4 characters for the digits before the dot and 3 characters for the digits after the dot), then that plus an extra space means that we have a whole 38 characters left over for the recipient BTS account name.

Offline xeroc

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Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #13 on: February 03, 2015, 03:24:22 PM »
So then .. I should certainly add this service (also shapeshift) to the sidebar in reddit :)
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Offline roadscape

Re: BTS asset exchange launched(Alt's version of "shapeshift" for BTS assets )
« Reply #14 on: February 03, 2015, 03:26:43 PM »
 +5% this will be very useful!
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