No Bitassets on shapeshift

[Shentist]

metaexchange.info and cryptohedge now launched bitUSD on metaexchange.

the goal of everyparty is to get in the future the tightest spread possible.

you can also buy and sell BTS

[dannotestein]

Hey, cool - I didn't realise you guys had launched already

Ready for some friendly competition? :p

This is more a testing phase than a commercial launch. We just want some people to send in small amounts and test out the system for any problems we didn't anticipate, so we've tried to keep the initial announcements fairly low key. Mostly this thread started as a reply to a question, rather than a formal announcement about the site.

Serious question: why don't you allow selling of bitAssets for BTC?

Because we don't yet hook up to an exchange where we can replenish our supply of BTC. We'll offer it in a while.

[monsterer]

Hey, cool - I didn't realise you guys had launched already

Ready for some friendly competition? :p

Serious question: why don't you allow selling of bitAssets for BTC?

[santaclause102]

Have you thought about implementing a multisig solution for protecting the reserves of the gateway in an easy to use daemon that can be deployed by some trusted third parties (e.g. a subset of the delegates)?

No, we hadn't considered this option, but we'll give it some thought.

Isnt multisig the lesson learned from all the breaches?

[dannotestein]

Yes, finally a gateway! Why the duplication of effort for the bridge part (BTC to BitAssets/BTS) with metaexchange.info?

We added bridge support because it wasn't a difficult addition to the base code and it makes the site more useful. We plan to operate the site as a commercial business, so we need to be competitive with sites like shapeshifter (Dan suggested we add similar capabilities, so we updated our interface to support that usage style).

Have you thought about implementing a multisig solution for protecting the reserves of the gateway in an easy to use daemon that can be deployed by some trusted third parties (e.g. a subset of the delegates)?

No, we hadn't considered this option, but we'll give it some thought.

[dannotestein]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Are you going to add DRK, DOGE, and even Ripple?

We'll probably add most any coin that seems likely to generate some volume. Bitcoin-compatible and Bitshares-compatible ones are the easiest to add right now, since we already have client proxies to talk to those wallets, but it's not very difficult to add others.

Why are the spreads so outrageously high for your btc IOU? you should set them really low to attract liquidity, especially in the beginning.

Right now we only want small amounts to be used, because the site is too new, so we set the rate high to discourage large value inputs. We'll drop the rates in day or two, after we've had sufficient outside testing.

[xeroc]

I am all in favor for having alternative implementations/services

[Shentist]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Yes, finally a gateway! Why the duplication of effort for the bridge part (BTC to BitAssets/BTS) with metaexchange.info? I feel like there is already too much duplication of coding effort going on (the bridge part of blocktrades.us with metaexchange.info, the mobile wallets of ElMato's bitwallet, Bitsapphire's Moonstone, Nathan's light wallet, and one can even argue James Calfee's web wallet). I know there are various differences between the clients, but still when we have so little developer resources for the BitShares ecosystem as a whole, I get very concerned with inefficiencies coming from duplication of effort.

Have you thought about implementing a multisig solution for protecting the reserves of the gateway in an easy to use daemon that can be deployed by some trusted third parties (e.g. a subset of the delegates)?

Why are the spreads so outrageously high for your btc IOU? you should set them really low to attract liquidity, especially in the beginning.

At the very least the spreads between TRADE.BTC and BTC and the spreads between TRADE.LTC and LTC should be very small since you are not exposed to any volatility risk at all (you only need to pay the BitShares and Bitcoin transaction fees and of course run the server daemons). You could even implement a minimum fixed fee in case the exchange quantity is so small that the percentage spread doesn't even cover the transaction fees.

in some mumble session bytemaster said, he like to have duplicated efforts. It makes sense, because we don't know which solution will be accepted from the market, so to have working people on the same or similar stuff makes sense. Later, we should consider to get rid of the not working projects. At least from the delegate payment list.

[arhag]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Yes, finally a gateway! Why the duplication of effort for the bridge part (BTC to BitAssets/BTS) with metaexchange.info? I feel like there is already too much duplication of coding effort going on (the bridge part of blocktrades.us with metaexchange.info, the mobile wallets of ElMato's bitwallet, Bitsapphire's Moonstone, Nathan's light wallet, and one can even argue James Calfee's web wallet). I know there are various differences between the clients, but still when we have so little developer resources for the BitShares ecosystem as a whole, I get very concerned with inefficiencies coming from duplication of effort.

Have you thought about implementing a multisig solution for protecting the reserves of the gateway in an easy to use daemon that can be deployed by some trusted third parties (e.g. a subset of the delegates)?

Why are the spreads so outrageously high for your btc IOU? you should set them really low to attract liquidity, especially in the beginning.

At the very least the spreads between TRADE.BTC and BTC and the spreads between TRADE.LTC and LTC should be very small since you are not exposed to any volatility risk at all (you only need to pay the BitShares and Bitcoin transaction fees and of course run the server daemons). You could even implement a minimum fixed fee in case the exchange quantity is so small that the percentage spread doesn't even cover the transaction fees.

[ssjpts]

see this from "alt".
http://btsbots.com/
https://bitsharestalk.org/index.php?topic=14224.0

[Rune]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Are you going to add DRK, DOGE, and even Ripple?

We'll probably add most any coin that seems likely to generate some volume. Bitcoin-compatible and Bitshares-compatible ones are the easiest to add right now, since we already have client proxies to talk to those wallets, but it's not very difficult to add others.

Why are the spreads so outrageously high for your btc IOU? you should set them really low to attract liquidity, especially in the beginning.

[dannotestein]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Are you going to add DRK, DOGE, and even Ripple?

We'll probably add most any coin that seems likely to generate some volume. Bitcoin-compatible and Bitshares-compatible ones are the easiest to add right now, since we already have client proxies to talk to those wallets, but it's not very difficult to add others.

[clayop]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

Are you going to add DRK, DOGE, and even Ripple?

[dannotestein]

We have up a beta version of our gateway/bridge where you can convert from bitcoin and bitassets now. Please test with only small quantities for now. It's here: http://blocktrades.us

[Rune]

Shapeshift works by running a bot that buys or sells on the market whenever someone buys or sells from them. When a given asset has no active markets that they have a bot for, they are not able to offer their service. Bter was the only place they could source their bitUSD before, now that it's gone they have no way to offer it until they make a yunbi bot, however that will probably still take a while.