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Offline dannotestein


We've completed the alpha testing phase of the "unregistered user" interface for blocktrades.us, so we're inviting BitShares community members to try it out now. The site currently only allows you to buy cryptocurrencies with cryptocurrencies; no fiat purchases are allowed at this time, although we are exploring our options for this.

Hopefully the web site's usage is mostly intuitive, but please post any questions you have about the site's operation in this thread.

https://blocktrades.us
http://blocktrades.us Fast/Safe/High-Liquidity Crypto Coin Converter

Offline cube

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How about bitUSD => BTC ?
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Offline dannotestein

How about bitUSD => BTC ?
It's coming relatively soon. It's possible we may have BTC output in another week, depending on what other tasks pop up.
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Offline cass

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Offline chryspano

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In markets with low volume maybe a warning should be displayed.


Offline dannotestein

In markets with low volume maybe a warning should be displayed.


Yes, it's not a bad idea. We show the conversion, but of course it might not be that obvious to someone when they're exchanging between two distinctly different coin types. I'll try to think of a good metric to identify this condition.
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Offline Ander

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The conversion rate in that picture is very, very off. 

This looks awesome provided we can get the conversion rate correct / spread down to a reasonable amount.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline dannotestein

The conversion rate in that picture is very, very off. 

This looks awesome provided we can get the conversion rate correct / spread down to a reasonable amount.
The site quotes conversions as a function of the pricing and volume of the markets involved. The price the site offers is basically a function of whatever price you could get by placing a series of market orders to fulfill the quantity you wish to purchase. So in a low liquidity market, the conversion price can go up rapidly for larger quantity orders as orders close to the market feed price get consumed.  In the case in question above, there's apparently not any offers to sell BitBTC close to the market feed price (I checked with my wallet's exchange display to confirm this was the case).

To avoid this, we just need more people willing to act as market makers. There's a number operating now for some assets, and I suspect we'll see more in the near future (if necessary, we'll setup some of our own). We're already planning to run market makers for the UIA IOUs we sell (e.g. TRADE.BTC which we back with BTC), so if we see any other assets like BitBTC that we offer that no one else is market making, it may make sense for us to step in and fill the gap.
« Last Edit: March 05, 2015, 07:25:10 AM by dannotestein »
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Offline monsterer

The site quotes conversions as a function of the pricing and volume of the markets involved. The price the site offers is basically a function of whatever price you could get by placing a series of market orders to fulfill the quantity you wish to purchase.

Are you doing intelligent routing?

Obviously you could place an order in the bitBTC/bitUSD market, but you could also do this: bitBTC->BTS->bitUSD.
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Online Shentist

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is your code public?

Offline dannotestein

is your code public?
No, it's not open source, we're using our own code repositories.
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Online Shentist

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is your code public?
No, it's not open source, we're using our own code repositories.

you will open source it later? just curious, because you are also funded via delagte position like we are.

Offline dannotestein

is your code public?
No, it's not open source, we're using our own code repositories.

you will open source it later? just curious, because you are also funded via delagte position like we are.
I really don't know if we'll open source it or not, it's a decision for another day.

As to our delegate funds, they don't even cover the cost for our normal core development work, much less the exchange development work. It's more the other way around: the hope of profit from the exchange business helps us to justify operating at a loss on the core development work. We're investing in the future of BitShares, so to speak.
http://blocktrades.us Fast/Safe/High-Liquidity Crypto Coin Converter

clout

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Can you integrate this into the wallet.bitshares.org? We need everything consolidated and made to look and feel like a centralized exchange.

Offline liondani

Open source please  ... Bytemaster asked others to do it before he vote them, not you?

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