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Quote from: tonyk on June 20, 2014, 06:27:42 pmAfter double checking here https://bitsharestalk.org/index.php?topic=5178.msg67964#msg67964, that there are no artificial limits on the # of orders one can place (which by itself I consider the only right way how things should work)The so called ‘attacker’ automatically checks the corresponding orders (prices and amounts), adjust his prices and amount and does not suffer any penalty for buying as much as she wants. Conclusion: The implementation does little to prevent the behavior it is supposed to discourage but all market participants suffer a hurdle (and/or penalty) for every order for quantity bigger than the best corresponding bid/ask order on the market…. This attack has been throughly discussed elsewhere... they cannot do what you say because the bids and asks will not be matched as you think. The highest bid is matched against the lowest ask. If you attempt to walk the book in ONE BLOCK then your lowest ask will be matched against the highest bid rather than your asks that perfectly matches it. So to get a 'perfect match' requires you to spread your order over multiple blocks.
After double checking here https://bitsharestalk.org/index.php?topic=5178.msg67964#msg67964, that there are no artificial limits on the # of orders one can place (which by itself I consider the only right way how things should work)The so called ‘attacker’ automatically checks the corresponding orders (prices and amounts), adjust his prices and amount and does not suffer any penalty for buying as much as she wants. Conclusion: The implementation does little to prevent the behavior it is supposed to discourage but all market participants suffer a hurdle (and/or penalty) for every order for quantity bigger than the best corresponding bid/ask order on the market….
Quote from: bytemaster on June 20, 2014, 03:25:21 pmQuote from: tonyk on June 20, 2014, 03:16:46 pmQuote from: bytemaster on June 20, 2014, 02:59:15 pmLazy trader's 'fee' is not really a fee. From a marketing perspective it is best to describe it as "you get exactly what you ask for, no fees".Perhaps there is an opportunity cost, but who calls that a fee?In the non-BTS X world (as you know) only the first one placing the order gets what he asked for, the second party (the bid order in my example) gets the best deal possible. I cannot see what is the big hurdle to make it work it like that, instead of adding yet another revenue stream be it fee or not.It has to do with attack vectors on the market and front-running. Someone is going to front-run you and collect the fees so it might as well be the market itself.We also want to make attacks that 'walk the book' expensive to prevent price manipulation.
Quote from: tonyk on June 20, 2014, 03:16:46 pmQuote from: bytemaster on June 20, 2014, 02:59:15 pmLazy trader's 'fee' is not really a fee. From a marketing perspective it is best to describe it as "you get exactly what you ask for, no fees".Perhaps there is an opportunity cost, but who calls that a fee?In the non-BTS X world (as you know) only the first one placing the order gets what he asked for, the second party (the bid order in my example) gets the best deal possible. I cannot see what is the big hurdle to make it work it like that, instead of adding yet another revenue stream be it fee or not.It has to do with attack vectors on the market and front-running. Someone is going to front-run you and collect the fees so it might as well be the market itself.
Quote from: bytemaster on June 20, 2014, 02:59:15 pmLazy trader's 'fee' is not really a fee. From a marketing perspective it is best to describe it as "you get exactly what you ask for, no fees".Perhaps there is an opportunity cost, but who calls that a fee?In the non-BTS X world (as you know) only the first one placing the order gets what he asked for, the second party (the bid order in my example) gets the best deal possible. I cannot see what is the big hurdle to make it work it like that, instead of adding yet another revenue stream be it fee or not.
Lazy trader's 'fee' is not really a fee. From a marketing perspective it is best to describe it as "you get exactly what you ask for, no fees".Perhaps there is an opportunity cost, but who calls that a fee?
DACs are for those who need freedom. One of the frivolous things the governments and big corporations do is add taxes and fees on everything you can imagine… Here is a list of the fees that you will have to pay to participate in our DACs. We keep them to a minimum as you will see: A. Other parties fees to acquire BTS- (international) wire transfer fee 50$ (paid to the bank we do not control that)-exchange deposit fee (paid to the exchange we do not control that)- transaction fee (to buy BTC paid to the exchange we do not control that);-transfer fee to the other exchange that actually sells BTS(to BTC miners we do not control that)- transaction fee (to buy BTS with your BTC paid to the exchange we do not control that);B. Our feesSo you are a happy owner of BTS, here we come…If you actually want to use your BTS for something expect-transaction fee – when you trade;-inactivity fee – when you do not trade;-lazy trader’s fee *1 – hidden fee when you do not match precisely the bid ask price-liquidation fee – when you trade but you lose too much!-inappropriate currency fee (when you do not have money in the appropriate currency to pay your other fees)-delegate registration fee (if you think you are a smart ass and can get some of the other poples fees)Coming soon:-Lazy voter’s fee (addition to the inactivity fee for those that do not trade, or trade but not vote)C. More other parties fees If you are not lucky enough to end your day with bitUSD (hopefully tradable for USD directly) you will have to experience the fees in A. in reverse order….*1 – if you want to buy 10 bitUSD at 1.00 bitUSD/BTS and there are 2 ask orders - one for 5 bitUSD @ 1.00 bitUSD/BTS and another for 5 bitUSD @ 1.03 bitUSD/BTS – to avoid the lazy trader’s fee you must place 2 separate order for 5 bitUSD each.
Quote from: toast ... need to start gathering info for BTS X info site soon?
... need to start gathering info for BTS X info site soon