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General Discussion / Re: Buy BTS !== Sell USD
« on: October 16, 2015, 04:28:47 pm »This is a complex issue. If you say you want to buy exactly $100 of BTS then the PRICE is contingent upon the order book which is constantly changing.
We assume you want to get as much BTS as possible for your $100, if that is the case then place a buy order with a price near infinity and you will get $100 worth at the best possible price.
When I trade on exchanges, I'm thinking like this: "I'll buy 10000 BTS with the best price" or "I'll sell 10000 BTS with the best price". You see that I want the BTS amount fixed and price/USD changing. I can only do "selling 10000 BTS with the best price" on BTS2 but not "buying 10000 BTS with the best price" because I'm not assured how much BTS I will get. It's not a big issue because I will get more BTS than I asked but from a trader point of view I really hope BTS2 acts the same like a normal exchange.
btw, I also hope we can add maker/taker fee to improve the liquidity. Maker%+Taker% should be >= 0. The initial fee can start from something like [-0.1%, 0.1%] or [-0.1%, 0.2%] and can be adjusted by committees.