The bounty is gone man. It was clearly stated it was inside Appolo.
Bounty or now bounty, I have posted even before the dry run how the order matching system can be exploited. I cannot prove it, in a dry run or out of it, because you have to be a broker (fill an order for somebody else) or in some other way know about upcoming order. Other than that I do not think there is much to exploit in the order matching. Said system is just a terribly annoying way to do the things and you will hear a lot about it when people start using it for real….
I don't completely understand the matching system tbh. I understand the market pegged asset's and I follow the use of collateral but I don't really have a back round in trading so I will leave my .02cents out of what I barely understand. As long as the team is receptive to change when it is warranted the the platform is properly vetted BEFORE trading of assets I think/hope we will be all right.
What I am trying to understand is how the system can be exploited just by someone acting as a broker. If you have a more in depth explanation I would love to give it a read weather it's here or pm or perhaps a thread you could point me too.
It so not so big of a deal as it sounds, really. BTSX is supposed to prevent front running :
http://en.wikipedia.org/wiki/Front_running by using an order matching system called ‘get what you asked for (i.e. not more)’. Well it actually is not preventing it –
which is not a big deal because no system as of now successfully prevents it, afaik.
Here is a thread where I try to explain why it will not be good experience for customers:
https://bitsharestalk.org/index.php?topic=5170.msg67914#msg67914Let see this with an example. I will use bter as most everybody here is probably familiar with it and their order placing is pretty well done:
Sell orders
Price (BTC/BTSX) Amount(BTSX)
0.0000155 1000
0.0000158 3000
0.0000163 1000
If you click on the third price in bter – your buy order box will be pre- populated with the total amount 5000=(1000+3000+1000) and the max price of 0.0000163. If you do submit this order (as it is pre-populated) you will pay:
(1000*155+3000*158+1000*163)/10^7=0.0792 BTC
In the BTSX “get what you asked for” system submitting the same order you will pay:
5000*163/10^7 = 0.0815 BTC or ~3% more.
If you want to avoid this you have to submit 3 orders – for 1000@ 0.0000155; 3000@ 0.0000158 and 1000@ 0.0000163 …
Imagine if you want to buy more and the order book starts with 7 miniscule orders. The result is annoying experience for the customers.