Depoposit and withdraw BTS from Bitshares 2.0?

[Pheonike]

Think of like Poloniex, Bitfinex, Kraken, etc all shared the same order book. They would not share wallets therefore they each would issue their own BTC because that's the only one they could trust. BitBTC is backed by the blockchain itself so only have to trust the Bitshars code.

[yvv]

Thank you for your answers, but I still think it is very confusing and counterintuitive. A software like this should be easy to use so that even a monkey can use it. I dont think most people my patience to ask questions for two weeks to figure out how to be able to do the most simple trade.

TRADE.BTC has zero liquidity. You better withdraw your BTC and deposit back through CCEDK or Metaexchange.

If the market associeted with TRADE.BTC has zero liquidity why does it still exist? Where do I deposit BTC to do trade with BTC not OPEN.BTC or TRADE.BTC?

You don't have BTC on bitshares blockchain. You have a token which represents BTC. This token can be issued by different parties. TRADE.BTC, OPEN.BTC, METAEX.BTC, bitBTC etc. Just like on different bitcoin exchanges, but all collected into single blockchain. You have to understand this before trading. If you feel yourself like a monkey, don't touch this thing. Go to a zoo, they will put you into comfortable cage and will feed you with banana for free for the rest of your life. Pretty good deal.

[svk]

If you look in the picture that I have posted above there is a BTC:BTS market. BTC looks very much like bitcoin to me. I have zero BTC in this market and want to be able to deposit BTC so I will have more then zero. It should be the most simple thing imaginable to do.

The confusing truth is that the BTC you are referring to is actually BitBTC, not BTC. BitBTC is a "smartcoin" in BitShares nomenclature (https://bitshares.org/technology/price-stable-cryptocurrencies/). It is a derivative whose value tracks that of BTC, but not on a 1-1 basis and it's not directly exchangeable for BTC (unless you can find someone willing to exchange it at that rate). Early on, the powers that be at the time decided to use BTC as the wallet symbol for BitBTC, so it's not an easy thing to change now.

It actually is called bitBTC in the GUI now, even though it's called BTC on the blockchain. All smartcoins owned by the committee-account get the bit prefix.

[dannotestein]

If you look in the picture that I have posted above there is a BTC:BTS market. BTC looks very much like bitcoin to me. I have zero BTC in this market and want to be able to deposit BTC so I will have more then zero. It should be the most simple thing imaginable to do.

The confusing truth is that the BTC you are referring to is actually BitBTC, not BTC. BitBTC is a "smartcoin" in BitShares nomenclature (https://bitshares.org/technology/price-stable-cryptocurrencies/). It is a derivative whose value tracks that of BTC, but not on a 1-1 basis and it's not directly exchangeable for BTC (unless you can find someone willing to exchange it at that rate). Early on, the powers that be at the time decided to use BTC as the wallet symbol for BitBTC, so it's not an easy thing to change now.

[wolfram]

If you look in the picture that I have posted above there is a BTC:BTS market. BTC looks very much like bitcoin to me. I have zero BTC in this market and want to be able to deposit BTC so I will have more then zero. It should be the most simple thing imaginable to do.

[speedy]

There is a chicken & egg problem here, but there is quite a lot of liquidity with OPEN.BTC -> BTS. Everyone is free to create their own assets on the open ledger. When you deposit BTC into Poloniex, you are getting "Polo.BTC" - they arent real BTC in your wallet anymore. The same concept applies to OPEN.BTC.

But there is a asset called BTC and I would like to be able to trade it. So where do I deposit BTC from outside to have the BTC asset in the exchange?

Are you sure you dont mean BitBTC, the market pegged asset? Maybe paste a link to the market/asset your talking about on Openledger.

Easiest way to get BitBTC is to deposit your BTC into BTS (using Blocktrades) and then trade on the BTS/BitBTC market.

[wolfram]

There is a chicken & egg problem here, but there is quite a lot of liquidity with OPEN.BTC -> BTS. Everyone is free to create their own assets on the open ledger. When you deposit BTC into Poloniex, you are getting "Polo.BTC" - they arent real BTC in your wallet anymore. The same concept applies to OPEN.BTC.

But there is a asset called BTC and I would like to be able to trade it. So where do I deposit BTC from outside to have the BTC asset in the exchange?

[speedy]

If the market associeted with TRADE.BTC has zero liquidity why does it still exist? Where do I deposit BTC to do trade with BTC not OPEN.BTC or TRADE.BTC?

There is a chicken & egg problem here, but there is quite a lot of liquidity with OPEN.BTC -> BTS. Everyone is free to create their own assets on the open ledger.
When you deposit BTC into Poloniex, you are getting "Polo.BTC" - they arent real BTC in your wallet anymore. The same concept applies to OPEN.BTC.

[wolfram]

Thank you for your answers, but I still think it is very confusing and counterintuitive. A software like this should be easy to use so that even a monkey can use it. I dont think most people my patience to ask questions for two weeks to figure out how to be able to do the most simple trade.

TRADE.BTC has zero liquidity. You better withdraw your BTC and deposit back through CCEDK or Metaexchange.

If the market associeted with TRADE.BTC has zero liquidity why does it still exist? Where do I deposit BTC to do trade with BTC not OPEN.BTC or TRADE.BTC?

[svk]

I'm tempted to remove the TRADE. assets from the wallet tbh, would be much better to just have OPEN. assets. Especially since it's run by the same company..

What's Dan N's handle here again? Someone tag him for me please..

Sent fra min MotoG3 via Tapatalk

[yvv]

TRADE.BTC has zero liquidity. You better withdraw your BTC and deposit back through CCEDK or Metaexchange.

[xeroc]

You have TRADE.BTC not BTC, nor OPEN.BTC
Search for the TRADE.BTC:BTS market

[wolfram]

If have illustrated my problem with the following image. In Account>Deposit/Withdrawal I have BTC, in "Trade" I have no BTC so I can not trade.

[dannotestein]

I still have the problem that allthough I have sent BTC to the account and it is visible in the deposits/withdrawals I can not trade with it at the BTS:BTC market because balance BTC in the "buy BTS" frame is zero.

You have open.btc, so look for bts_open.btc market, you are looking at bitbtc market

I still have the problem that allthough I have sent BTC to the account and it is visible in the deposits/withdrawals I can not trade with it at the BTS:BTC market because balance BTC in the "buy BTS" frame is zero.

You have open.btc, so look for bts_open.btc market, you are looking at bitbtc market

Sent from my DROID RAZR HD using Tapatalk

[xeroc]

I still have the problem that allthough I have sent BTC to the account and it is visible in the deposits/withdrawals I can not trade with it at the BTS:BTC market because balance BTC in the "buy BTS" frame is zero.

You probably have OPEN.BTC and not bitBTC. You can trade then in the OPNEN.BTC:BTS market

[wolfram]

I still have the problem that allthough I have sent BTC to the account and it is visible in the deposits/withdrawals I can not trade with it at the BTS:BTC market because balance BTC in the "buy BTS" frame is zero.

[jemcrowne]

I see I can deposit BTC and they get converted to BTS. I can withdraw BTC by converting BTC to BTS. Why have I not found any mechanism how to withdraw BTS? Is it even possible to withdraw BTS to somewhere else?

Why would you want to withdraw BTS?  That's crazy talk.  :)

But yes, you can convert BTS to BTC and sell BTC for dollars.  Great idea.

Was just going to post this chart myself

What are you trying to say: Lil_jay890? Bitshares is like the US dollar?

[liondani]

But yes, you can convert BTS to BTC and sell BTC for dollars.  Great idea.

+5%

:P :P :P

[lil_jay890]

I see I can deposit BTC and they get converted to BTS. I can withdraw BTC by converting BTC to BTS. Why have I not found any mechanism how to withdraw BTS? Is it even possible to withdraw BTS to somewhere else?

Why would you want to withdraw BTS?  That's crazy talk.  :)

But yes, you can convert BTS to BTC and sell BTC for dollars.  Great idea.

Was just going to post this chart myself

[liondani]

I see I can deposit BTC and they get converted to BTS. I can withdraw BTC by converting BTC to BTS. Why have I not found any mechanism how to withdraw BTS? Is it even possible to withdraw BTS to somewhere else?

Why would you want to withdraw BTS?  That's crazy talk.  :)

But yes, you can convert BTS to BTC and sell BTC for dollars.  Great idea.

[tbone]

I have managed to do what I wanted to. I like Bitshares 2.0 but there are some possibilities for usability improvement.

Possibility to choose a light/white theme in addition to the current dark/gray theme would be nice for example. I think it could improve readablitiy.

There is a light theme.  You just have to go into settings (click on the gear icon in the upper-right corner) and scroll down to set the theme.  As for Withdraw vs. Send, I can see how that might be confusing for new  users.  Maybe we should take a look at that. 

paging @svk: At the top of the Deposit/Withdraw page there is note about receiving BTS.  Perhaps there should also be a note about sending BTS with a link to the Send page?  Or maybe somehow sending, depositing, and withdrawing should be under the same main menu item (e.g. Deposit/Withdraw/Send) with one tab for sending BTS and another tab for depositing/withdrawing funds?  I'm not sure exactly what the answer is, but I think it can be improved in some way.

[svk]

I have managed to do what I wanted to. I like Bitshares 2.0 but there are some possibilities for usability improvement.

Possibility to choose a light/white theme in addition to the current dark/gray theme would be nice for example. I think it could improve readablitiy.

There's a light theme in the settings. Not the best theme mind you but it is light..

[Stan]

I see I can deposit BTC and they get converted to BTS. I can withdraw BTC by converting BTC to BTS. Why have I not found any mechanism how to withdraw BTS? Is it even possible to withdraw BTS to somewhere else?

Why would you want to withdraw BTS?  That's crazy talk.  :)

But yes, you can convert BTS to BTC and sell BTC for dollars.  Great idea.

[wolfram]

I have managed to do what I wanted to. I like Bitshares 2.0 but there are some possibilities for usability improvement.

Possibility to choose a light/white theme in addition to the current dark/gray theme would be nice for example. I think it could improve readablitiy.

[xeroc]

I dont see a "Transfer" tab however I see a "Send" tab. The field marked "To" looks like I should fill in with a Openledger account name which would make it impossible to send BTS outside of Openledger.

I dont understand Why Bitshare transfer could not be in Account>Deposit/Witdrawal as other currencies

An OpenLedger account IS a BitShares account. :D
All funds you have on OpenLedger can also be access through any other partner .. such as freedomledger or later thedex.org or bitshares.org/wallet ..

[wolfram]

I dont see a "Transfer" tab however I see a "Send" tab. The field marked "To" looks like I should fill in with a Openledger account name which would make it impossible to send BTS outside of Openledger.

I dont understand Why Bitshare transfer could not be in Account>Deposit/Witdrawal as other currencies

[oldmine]

Openledger is a webwallet, so it stores the private keys of your account. If you want to send your BTS to another account, then you can use the Transfer tab to send your BTS to another account.

[wolfram]

I see I can deposit BTC and they get converted to BTS. I can withdraw BTC by converting BTC to BTS. Why have I not found any mechanism how to withdraw BTS? Is it even possible to withdraw BTS to somewhere else?