BitShares Forum
Main => General Discussion => Topic started by: Xypher on November 13, 2015, 09:08:08 pm
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People keep talking about the “killer” app for Bitcoin being developed by teams with millions of dollars in backing, yet we fail to find the one solution that strikes it right with the retail markets. Talk about alt currencies with your average internet consumer and there is no way in hell you would possibly have him acquire a coin, without having to go through the nuances of transferring currency to the bank, acquiring bitcoin, then sending it to an alt-coin exchange, then paying for the currency itself. Throughout this process, there’s the painful aspect of fluctuating prices which would further lead to disappointments in the end consumer’s mind. In addition, for the “price” conscious consumer, this is an added paingpoint as he’ll have to usually set up accounts in multiple exchanges to garner the best rates while battling it out against a barrage of bots set up by individuals with years of experience in these scary markets. In such a scenario, creating something that is easy and intuitive enough for your grandma to use, yet complicated enough to battle it out with the smartest bots in the industry becomes a challenge. Yet , this is a challenge we rise up to every single day in the multitudes of businesses we’ve engaged in. Today, we are glad to formally announce yet another product into the ecosystem, built with the intent of providing a no-nonsense exchange without unwanted fee involvements.
Being individuals that routinely accept payments in alt’s we’ve had to spend hours just ensuring we get the best rates on our coins while ensuring the markets don’t crash due to any swift movements. In addition, maintaining accounts at multiple exchanges adds to the pain points. In order to tackle this, we created an API that converses with multiple exchanges in real time, places optimal buy and sell orders and reverts in a matter of minutes. We then interlinked user provided payout addresses to ensure users can garner the service without having to repeatedly copy paste their wallet id’s. What would this mean for the average user ?
We just created a system that does exchanges for you, without you ever having to visit the exchange or the gate way. Send money to a wallet id, and the system exchanges and sends BTC to you right away.
So what would this truly mean for the end user?
It means we’ve made acquiring alt’s at the fastest rate possible, as easy as checking out from Amazon. Just a matter of copying the wallet id, sending in the bitcoin and well, you’re pretty much done. Since the system reserves your wallet id for future transactions, you will not need to repeatedly copy paste transactions like you’d do at Shapeshi(f)t. In addition, if you are a freelancer looking to take payments either in Bitcoin or Bitshares, you can simply send either of your wallet id’s and the system automatically sends you the other currency without you ever having to either reveal your holding currency nor having to spend time exchanging it, ever.
Take that for mass consumption!
FAQ’s
1. Is this decentralized ?
No, this is not decentralized in the true sense of the word. Users are still to send funds to our system, which is then dispersed across exchanges. What this does mean though, is that our system cannot be taken down, by solely taking down electrons.io. Since funds are sent to exchanges in real time, we don’t hold anyone’s funds for too long and the question of a potential loss during a hack is non existent. Similarly, users will be able to directly send cash to a bts wallet id (currently electron-io) and receive bitcoin without viisiting the site at all.
2. How does a user experience his coin ?
In order to exchange your currency, you are not required to visit the site at all. Simply send the BTS to electron-io with your bitcoin wallet id as a memo
3. What kind of volumes can this exchange?
Since this is purely experimental and the amount of market support for Bitshares is low, we recommend you to experiment with small batches. While we are able to track large payments, we are not able to gaurantee market support. Exchanges over 100,000 can have substantial impact on the prices and due to the same you are expected to exchange in batches
Note : No fancy fundraisers, no share-drops, no equity splits. This is a product released by Freebie LLC in the best interests of the community. We take no fee (for now). For corporate enquiries e-mail xypher@mail.com
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"Page not found"
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Excellent idea.
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"Page not found"
http://electrons.io/Electron/Convert?currency=BTS
So weird, which browser and URL are you following?
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"Page not found"
Works fine for me.
NOTE: The account is electron-io but the site is electrons.io. In the ANN post above both spellings are referred to as the BTS account but only one is valid. I've advised them via a transfer memo :) .
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"Page not found"
Works fine for me.
NOTE: The account is electron-io but the site is electrons.io. In the ANN post above both spellings are referred to as the BTS account but only one is valid. I'd advised them via a transfer memo :).
Fixed it.
Thank you so much
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Just ran a test and I have to say it doesn't get much easier. From send time to BTC hitting my wallet was a little over 2 minutes and the BTC received matched the current Poloniex BTC/BTS price.
Well done! +5%
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Just mentioning, if you're paranoid about tracking your payment (vs just watching the color-coded status) you can view a more detailed text-version by specifying format=text in the url, i.e.:
http://electrons.io/Electron/Transactions?format=text (using format=text also auto-refreshes like the color-coded version does as well).
And before this question gets raised, no there's not a difference before "Transfering" and "Transfered" in the log we changed the wording to "Transfering" because it doesn't appear on the BTC block chain instantly.
And thanks riverhead for noticing the spelling error.
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Not Found
The requested URL /Electron/Transactions was not found on this server.
Apache/2.4.7 (Ubuntu) Server at electrons.io Port 80
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Not Found
The requested URL /Electron/Transactions was not found on this server.
Apache/2.4.7 (Ubuntu) Server at electrons.io Port 80
the server its on is actually IIS so no clue what your getting there?
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DNS error? What's the server's IP address?
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I still get
(http://i.imgur.com/E0DZrUz.png)
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Could still be propagating but the site isn't needed to use the service.
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very strange the dns has been set for like 2 days...
im looking into it now.
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give it a shot now @monsterer @fav
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@kuro112 works!
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For those confused about how to use it to exchange,
1. Send BTS to electron-io with your BTC wallet id as the memo
2. Wait 3-5 minutes, while the system auto exchanges and sends you the btc.
I'd appreciate it if a few members here tested it with 1k-2k bts each and posted their experiences.
I'll work on the FAQ and other aspects soon.
For those wary about exchange rates - try exchanging in small batches, check with poloniex and see what the rates come to be (and let us know).
As of now, we take no fee.
P.s- the grid has been down, where I stay, but I'll be on in a few more hours and respond to all queries / PM's
Regards
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You should get this integrated with the wallet by submitting a pull request
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good work! +5%
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You should get this integrated with the wallet by submitting a pull request
I'll look into this.
Appreciate the input.
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You should get this integrated with the wallet by submitting a pull request
good idea! i wonder if we could do this some how hmmmm
+5%
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Crossed 100k in exchanges. From what I've noticed 10-20,000 Bts exchanges go smooth without crashing prices much.
Regards
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You should get this integrated with the wallet by submitting a pull request
good idea! i wonder if we could do this some how hmmmm
+5%
Maybe some wallet side logic that detected electron-io as the send-to and then parsed the memo field for a valid BTC address? Maybe it then also changes the label from "Memo" to "BTC Address" and the send button is disabled until the BTC address is legal.
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Good to see people helping this project. It is going to be a solid one!
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This is great, imho.
Also I think bitsharestalk's database updated on me.. I do not who's wise or not so comment was it, but I believe someone posting here.
[Changing your mind is fine, in my book. I do it at a rate of about 30 times a minute ... on average]
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This is great, imho.
Also I think bitsharestalk's database updated on me.. I do not who's wise or not so comment was it, but I believe someone posting here.
[Changing your mind is fine, in my book. I do it at a rate of about 30 times a minute ... on average]
Hey Tonyk,
Thanks for the kind words. Really feels good to hear this coming from you.
We stay commited towards improvement and aspire to deliver optimal solutions for the masses.
Regards
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This is great, imho.
Also I think bitsharestalk's database updated on me.. I do not who's wise or not so comment was it, but I believe someone posting here.
[Changing your mind is fine, in my book. I do it at a rate of about 30 times a minute ... on average]
Hey Tonyk,
Thanks for the kind words. Really feels good to hear this coming from you.
We stay commited towards improvement and aspire to deliver optimal solutions for the masses.
Regards
What can I say - at least you know those are not some made up compliments, but something I really think.
And while on the topic of thinking - I really do not think spamming the forum with a response post by the tip bot is necessary. Sending a PM to the tip sender should be good enough.... my 2 *10^18 brownie.pts
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This is great, imho.
Also I think bitsharestalk's database updated on me.. I do not who's wise or not so comment was it, but I believe someone posting here.
[Changing your mind is fine, in my book. I do it at a rate of about 30 times a minute ... on average]
Hey Tonyk,
Thanks for the kind words. Really feels good to hear this coming from you.
We stay commited towards improvement and aspire to deliver optimal solutions for the masses.
Regards
What can I say - at least you know those are not some made up compliments, but something I really think.
And while on the topic of thinking - I really do not think the spamming the forum with a response post by the tip bot is necessary. Sending a PM to the tip sender should be good enough.... my 2 *10^18 brownie.pts
Let me put it from a marketer's perspective.
Currently, it "serves" to (our) best interests that the bot is making those posts. The idea is to get the culture of tipping integrated into the forum.
I'll try and get a stats page so we have metrics to judge in terms of how the number of tips are growing.
Having that said,
Yes, its ugly as fuck to have the bot post all over the place. As the number of tips increase and people increasingly tip (which they luckily are), I believe we should take it down.
It really is about building that culture. Once its in, we can probably have it pruned or integrated via a buttom and (pm) only.
I understand your frustration on the spam, and I see where its comng from.
We'll soon plug it off - preferably as soon as we are off beta.
And yes, those compliments are worth a bit considering how rare they are.
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Hey,
Am incredibly glad you asked.
In the case of shapeshift, you have dynamic addresses, which means you are required to send the $'s to a different wallet each time (and then the exchange is done) and sent back. This is a hassle if you use the system often and are required to paste wallet id's often.
In comparison, our system uses a single address( electrons-io) and exchanges the currency at the best possible rates from multiple sources and sends you btc.
This means, you can actually exchange without ever going to electrons.io. All you truly need to do is just go to your wallet, select amount of bts to be exchanged, send to electrons-io with your bitcoin address as the memo and the system sends it. Basically you can entirely circumvent ever visitng an exchange or electrons.io and get your coins exchanged to Bitcoin right from interacting from your wallet.
Also, this needs to be verified and proved, but from our internal tests so far, we have been able to repeatedly provide the best rates.
P.s - I have massive respect for shapeshift and metaexchange. We are only building on what they laid foundations for and believe we can do better.
Regards
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Haha this funny.
First let me repeat that Metaexchange is the BTS related project that I respect the most. [after the only one better, imho, decided to pursue Bigger and far more unrealistic dreams, that is]. Meta still has competitive advantages - relative orders for now, and I do trust them to come with some sort of bond market even before BTS itself does.
What are these guys [Electrons] actually saying is - Screw you Shapeshif and your business model...financed with millions of USD, mind you. This is so ridiculously simple, we can provide the same [or better] service for free... and code it in our sleep!
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Haha this funny.
First let me repeat that Metaexchange is the BTS related project that I respect the most. [after the only one better, imho, decided to pursue Bigger and far more unrealistic dreams, that is]. Meta still has competitive advantages - relative orders for now, and I do trust them to come with some sort of bond market even before BTS itself does.
What are these guys [Electrons] actually saying is - Screw you Shapeshif and your business model...financed with millions of USD, mind you. This is so ridiculously simple, we can provide the same [or better] service for free... and code it in our sleep!
You are good in reading minds, aren't you?
I truly admire what the guys at Shapeshift are doing and in terms of age, I was still a boy when the man behind Shapeshift made his "name" in crypto, but yes, we genuinely believe its BS that you require that much in funding to do what the system does. I wish them all the best and look forward to competing with them as this slowly grows. For the moment, its a boot-strapped inhouse project made open to the public for free.
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Meta still has competitive advantages - relative orders for now, and I do trust them to come with some sort of bond market even before BTS itself does.
@Shentist pls do
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Haha this funny.
First let me repeat that Metaexchange is the BTS related project that I respect the most. [after the only one better, imho, decided to pursue Bigger and far more unrealistic dreams, that is]. Meta still has competitive advantages - relative orders for now, and I do trust them to come with some sort of bond market even before BTS itself does.
What are these guys [Electrons] actually saying is - Screw you Shapeshif and your business model...financed with millions of USD, mind you. This is so ridiculously simple, we can provide the same [or better] service for free... and code it in our sleep!
exactly, meta has their own niche market, this service is actually not intended to compete with them, but rather work parallel - actually this system uses our barter exchange api, which we will be announcing in the future, but suffice it to say maybe meta would want to use our api to enhance their features in the future, who knows.
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Forgive my ignorance but how is this different/better than shapeshift or metaexchange?
Haha this funny.
First let me repeat that Metaexchange is the BTS related project that I respect the most. [after the only one better, imho, decided to pursue Bigger and far more unrealistic dreams, that is]. Meta still has competitive advantages - relative orders for now, and I do trust them to come with some sort of bond market even before BTS itself does.
What are these guys [Electrons] actually saying is - Screw you Shapeshif and your business model...financed with millions of USD, mind you. This is so ridiculously simple, we can provide the same [or better] service for free... and code it in our sleep!
exactly, meta has their own niche market, this service is actually not intended to compete with them, but rather work parallel - actually this system uses our barter exchange api, which we will be announcing in the future, but suffice it to say maybe meta would want to use our api to enhance their features in the future, who knows.
We are not here to battle other services, but like kuro said, compliment them.
We have an in-house system that should empower exchanges to possess both market liquidity and optimal pricing.
Announcements will be made post completion of the tipbot
Regards
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We will be adding UIA support very soon, maybe just the top 10 or something.
will keep you updated
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posts deleted. we got an extra thread for drama
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hopefully none of that drama dissuaded users from giving this a try, after all its completely free to use...
seriously, run 1k bts through it and compare rates, its pretty awesome to exchange from inside your wallet or openledger.
looking to add uia support by tomorrow or the next day, after we finish up some other stuff for sharebits.
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hopefully none of that drama dissuaded users from giving this a try, after all its completely free to use...
There certainly isn't anyone that doesn't know about this project now :).
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I sent 3000BTS to electron-io over an hour ago with my BTC address in the memo field. Nothing has happened so far, I have not received any BTC.
Problem solved.
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I sent 3000BTS to electron-io over an hour ago with my BTC address in the memo field. Nothing has happened so far, I have not received any BTC.
looking into it right now
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I sent 3000BTS to electron-io over an hour ago with my BTC address in the memo field. Nothing has happened so far, I have not received any BTC.
looking into it right now
I'll PM you the details.
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I sent 3000BTS to electron-io over an hour ago with my BTC address in the memo field. Nothing has happened so far, I have not received any BTC.
Sorry, while i was gone this weekend the service was taken offline temporarily. It's been restored now and I can see that your BTS should be in the processing/liquidation state, you should receive your BTC shortly.
Edit:
Transfering 0.02982984 BTC (2955.00000000 BTS @ 0.00001012 BTC/BTS) - BTC Address: 1EV7AsGNNCaeazSEGCoNooJepdGcwrZiMM
- http://electrons.io/Electron/Transactions?format=text
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I sent 3000BTS to electron-io over an hour ago with my BTC address in the memo field. Nothing has happened so far, I have not received any BTC.
Sorry, while i was gone this weekend the service was taken offline temporarily. It's been restored now and I can see that your BTS should be in the processing/liquidation state, you should receive your BTC shortly.
Edit:
Transfering 0.02982984 BTC (2955.00000000 BTS @ 0.00001012 BTC/BTS) - BTC Address: 1EV7AsGNNCaeazSEGCoNooJepdGcwrZiMM
- http://electrons.io/Electron/Transactions?format=text
Problem solved. Thank you.
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How about you register this name as well as electrons.io
BTS2BTC
Its still available. and would be more easily remembered and descriptive
Please nobody name squat this
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Thanks for the suggestion, while I don't speak for the rest of the team as my own opinion, I think an abstract name like 'electrons' lets us not limit the scope of what this project is capable of, where as BTS2BTC does. Electrons was initially developed as just a useful inhouse tool for us to use, but we thought it would be useful to the community, so it's possible in the future we make adaptations to it.
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could you not have it run parallel with electron-io
or at least buy the name electron instead of electron-io
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Also I sent 0.07 bitbtc to electron-io 35 mis ago with no btc address in the memo as I thought it would remember it from my last transaction but hasn't seemed to.
this is the address I want it sent to please: 1HJDBUEYQMUU7hXYf64KYiLs6GJ2SBGMj2
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Uh, we don't handle BitBTC, I've contacted @kuro112 and asked him to send you back to the BitBTC. We only process BTS->BTC (at this time anyways). And yes, please specify your address every time in the memo.
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thanks
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out of the house at the moment, will send it back within a few hours, sorrry for the inconveniance we do not currently support bitassets however we plan to very soon.
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Also I sent 0.07 bitbtc to electron-io 35 mis ago with no btc address in the memo as I thought it would remember it from my last transaction but hasn't seemed to.
this is the address I want it sent to please: 1HJDBUEYQMUU7hXYf64KYiLs6GJ2SBGMj2
I believe the initial system was meant to keep a tab on the bts wallet and the associated btc address but it was dropped in order to avoid keeping any user info of sorts.
Issues like these make me want to discuss putting it back on.
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ive been trying to refund you the btc, however it requires purchase of some btc to pay the pool,
(http://puu.sh/lvYuM/1f56dfdb1a.png)
this happens when i try... if you want to send electrons the extra for the fee that would allow me to send it back.
(http://puu.sh/lvYDR/0794385295.png)
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can you return the amount minus the fee then please?
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Also I sent 0.07 bitbtc to electron-io 35 mis ago with no btc address in the memo as I thought it would remember it from my last transaction but hasn't seemed to.
this is the address I want it sent to please: 1HJDBUEYQMUU7hXYf64KYiLs6GJ2SBGMj2
I believe the initial system was meant to keep a tab on the bts wallet and the associated btc address but it was dropped in order to avoid keeping any user info of sorts.
Issues like these make me want to discuss putting it back on.
yes i think it would be a great feature please bring it back.
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Also I sent 0.07 bitbtc to electron-io 35 mis ago with no btc address in the memo as I thought it would remember it from my last transaction but hasn't seemed to.
this is the address I want it sent to please: 1HJDBUEYQMUU7hXYf64KYiLs6GJ2SBGMj2
I believe the initial system was meant to keep a tab on the bts wallet and the associated btc address but it was dropped in order to avoid keeping any user info of sorts.
Issues like these make me want to discuss putting it back on.
yes i think it would be a great feature please bring it back.
sorry forgot to update you yesterday morning, it was refunded within an hour of your post, so sorry for the slow support, still working on the system :)