Author Topic: TRADE.BTC and TRADE.LTC are up and running  (Read 12203 times)

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Offline dannotestein

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Any plans to add PLS (Bitshares play)?

i know people want to trade them but wont since its on an exchange that requires ID to trade.
Yes, MUSE and PLS are definitely in the plans for near term support.
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jaran

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Any plans to add PLS (Bitshares play)?

i know people want to trade them but wont since its on an exchange that requires ID to trade.

Offline dannotestein

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There should be no asset like TRADE.BTC. This was said so many times. Expectations of users is to have a gateway like: real BTC <-> bitBTC. The gateway should provide a liquidity. I should not be forced to trade TRADE.BTC with bitBTC on yet another exchange.

So... in other words... stupidity of current gateway mechanism.

You cant have market pegged assets until you have price discovery of the real BTC/BTS price first. In the mean time do we just wait for the centralized exchanges to determine the price and let them have all the fees and profit? No. We allow trading IOUs for Bitcoin as well as market pegged assets. Besides, its easier to get liquidity for the real thing first.

What we need is one IOU for Bitcoin on the blockchain, instead of Blocktrades and CCEDK competing with each other and dividing liquidity.
I tend to agree, and it's not been our plan at BlockTrades to compete in this market long term. We're more interested in operating as an instant exchange/market maker (and other opportunities we're exploring for the long term). Mainly TRADE assets are being used now because we were closest to Cryptonomex and we had all the pieces ready when BitShares 2.0 turned on. We're hoping in the near term to be able to phase-out any TRADE assets that compete with those of OPEN. There are some advantages to having a second gateway asset (for example, if one server goes down), of course. So we could keep it going mainly as a "fall-back" and simply encourage traders to purchase OPEN instead (OPEN was moved to first position on wallet to encourage this).

TL;DR in the long run, we would like BlockTrades integration with the wallet to be primarily for "instant-buying", with TRADE asset purchases mainly used if OPEN server is down for some reason. We can probably "encourage" this by placing fees for TRADE asset slighly higher than OPEN assets.

Finally, if anyone wants to help to really help bitshares as an exchange right now, I highly recommend you place orders on there instead of centralized exchanges. Sure, it's a chicken-and-egg problem, you just have to decide to go beyond it and place orders. I know the interface still could use a lot of work, but it does seem to function reliably for the orders I've placed. In particular, we could use orders between OPENBTC/BTS, since this market is part of our "real" gateway.
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Offline speedy

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There should be no asset like TRADE.BTC. This was said so many times. Expectations of users is to have a gateway like: real BTC <-> bitBTC. The gateway should provide a liquidity. I should not be forced to trade TRADE.BTC with bitBTC on yet another exchange.

So... in other words... stupidity of current gateway mechanism.

You cant have market pegged assets until you have price discovery of the real BTC/BTS price first. In the mean time do we just wait for the centralized exchanges to determine the price and let them have all the fees and profit? No. We allow trading IOUs for Bitcoin as well as market pegged assets. Besides, its easier to get liquidity for the real thing first.

What we need is one IOU for Bitcoin on the blockchain, instead of Blocktrades and CCEDK competing with eachother and dividing liquidity.

Offline noisy

There should be no asset like TRADE.BTC. This was said so many times. Expectations of users is to have a gateway like: real BTC <-> bitBTC. The gateway should provide a liquidity. I should not be forced to trade TRADE.BTC with bitBTC on yet another exchange.

So... in other words... stupidity of current gateway mechanism.
Take a look on: https://bitsharestalk.org/index.php/topic,19625.msg251894.html - I have a crazy idea - lets convince cryptonomex developers to use livecoding.tv

Offline speedy

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Everyone here with BTC on Poloniex, whats stopping you from withdrawing into TRADE.BTC ?

Offline oakmaster

k so I did a test run from btc to trade.btc u guys are faster than any exchange

Offline oakmaster

can i send btc ltc and doge directly to the address in my wallet cause just for a test i sent 10 doge yesterday and never received it in my wallet and the same for trade.btc and trade.ltc or do i have to send my deposit to blocktrades to be converted
Hi Oakmaster,

You should be able to buy the trade.btc/trade.ltc directly from the wallet. I checked our system and I don't see any failed transactions for trade.btc or trade.ltc. Can you PM me with more information about your transactions?

One potential issue (which doesn't appear to be the case for the trade asset purchases as it would show up differently in our system) is that you have to send enough input funds to cover transaction cost of sending you the trade asset. For example, I did check the value of the 10 DOGE you sent to openledger, and it's less than the cost of a transaction, so I'd guess that's why you haven't received any OPENDOGE from them. You probably need to send around 1000 DOGE to get any output.

best regards,

Dan Notestein
BlockTrades Intl Ltd
with the doge is ok it was only 10 doge just as a test but i just wanted to make sure if i send BTC or LTC from my BTC or LTC wallet to the address in my Bitshares wallet Openledger and Blocktrade BTC and LTC address is that ok or for TRADE.BTC and TRADE.LTC do i have to send it to blocktrades than to my wallet to have it converted to TRADE.BTC I just dont want to send 100 in btc to my wallet address and have it not show up cause I was supposed to convert it
Thank You
You don't have to visit the Blocktrades.us website, you can send directly to the BTC/LTC addresses in the wallet and they will be converted to either an OPEN asset (if you use CCEDK) or a TRADE asset (if you use BlockTrades). If it's your first time making a deposit, I do recommend sending a smaller amount, say .01 BTC before you send 100 BTC, however.

After you make the deposit, the TRADE.BTC or TRADE.LTC should show up in your wallet after 1 or 2 confirmations. You can then place orders on the distributed exchange with your TRADE asset. For example, you could visit the TRADE.BTC_BTS market to place an order for BTS.

On the other hand, if you just want to purchase BTS directly with BTC, and don't want to do it via an exchange-type transaction (placing a bid or ask), you can visit blocktrades.us and buy the BTS directly from BlockTrades.

So there's really two paths to purchasing, just depends on if you want to be an active trader or just make a quick asset buy.
Thanks thats what I was wondering

Offline dannotestein

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can i send btc ltc and doge directly to the address in my wallet cause just for a test i sent 10 doge yesterday and never received it in my wallet and the same for trade.btc and trade.ltc or do i have to send my deposit to blocktrades to be converted
Hi Oakmaster,

You should be able to buy the trade.btc/trade.ltc directly from the wallet. I checked our system and I don't see any failed transactions for trade.btc or trade.ltc. Can you PM me with more information about your transactions?

One potential issue (which doesn't appear to be the case for the trade asset purchases as it would show up differently in our system) is that you have to send enough input funds to cover transaction cost of sending you the trade asset. For example, I did check the value of the 10 DOGE you sent to openledger, and it's less than the cost of a transaction, so I'd guess that's why you haven't received any OPENDOGE from them. You probably need to send around 1000 DOGE to get any output.

best regards,

Dan Notestein
BlockTrades Intl Ltd
with the doge is ok it was only 10 doge just as a test but i just wanted to make sure if i send BTC or LTC from my BTC or LTC wallet to the address in my Bitshares wallet Openledger and Blocktrade BTC and LTC address is that ok or for TRADE.BTC and TRADE.LTC do i have to send it to blocktrades than to my wallet to have it converted to TRADE.BTC I just dont want to send 100 in btc to my wallet address and have it not show up cause I was supposed to convert it
Thank You
You don't have to visit the Blocktrades.us website, you can send directly to the BTC/LTC addresses in the wallet and they will be converted to either an OPEN asset (if you use CCEDK) or a TRADE asset (if you use BlockTrades). If it's your first time making a deposit, I do recommend sending a smaller amount, say .01 BTC before you send 100 BTC, however.

After you make the deposit, the TRADE.BTC or TRADE.LTC should show up in your wallet after 1 or 2 confirmations. You can then place orders on the distributed exchange with your TRADE asset. For example, you could visit the TRADE.BTC_BTS market to place an order for BTS.

On the other hand, if you just want to purchase BTS directly with BTC, and don't want to do it via an exchange-type transaction (placing a bid or ask), you can visit blocktrades.us and buy the BTS directly from BlockTrades.

So there's really two paths to purchasing, just depends on if you want to be an active trader or just make a quick asset buy.
« Last Edit: November 02, 2015, 06:34:57 pm by dannotestein »
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Offline oakmaster

can i send btc ltc and doge directly to the address in my wallet cause just for a test i sent 10 doge yesterday and never received it in my wallet and the same for trade.btc and trade.ltc or do i have to send my deposit to blocktrades to be converted
Hi Oakmaster,

You should be able to buy the trade.btc/trade.ltc directly from the wallet. I checked our system and I don't see any failed transactions for trade.btc or trade.ltc. Can you PM me with more information about your transactions?

One potential issue (which doesn't appear to be the case for the trade asset purchases as it would show up differently in our system) is that you have to send enough input funds to cover transaction cost of sending you the trade asset. For example, I did check the value of the 10 DOGE you sent to openledger, and it's less than the cost of a transaction, so I'd guess that's why you haven't received any OPENDOGE from them. You probably need to send around 1000 DOGE to get any output.

best regards,

Dan Notestein
BlockTrades Intl Ltd
with the doge is ok it was only 10 doge just as a test but i just wanted to make sure if i send BTC or LTC from my BTC or LTC wallet to the address in my Bitshares wallet Openledger and Blocktrade BTC and LTC address is that ok or for TRADE.BTC and TRADE.LTC do i have to send it to blocktrades than to my wallet to have it converted to TRADE.BTC I just dont want to send 100 in btc to my wallet address and have it not show up cause I was supposed to convert it
Thank You

Offline dannotestein

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can i send btc ltc and doge directly to the address in my wallet cause just for a test i sent 10 doge yesterday and never received it in my wallet and the same for trade.btc and trade.ltc or do i have to send my deposit to blocktrades to be converted
Hi Oakmaster,

You should be able to buy the trade.btc/trade.ltc directly from the wallet. I checked our system and I don't see any failed transactions for trade.btc or trade.ltc. Can you PM me with more information about your transactions?

One potential issue (which doesn't appear to be the case for the trade asset purchases as it would show up differently in our system) is that you have to send enough input funds to cover transaction cost of sending you the trade asset. For example, I did check the value of the 10 DOGE you sent to openledger, and it's less than the cost of a transaction, so I'd guess that's why you haven't received any OPENDOGE from them. You probably need to send around 1000 DOGE to get any output.

best regards,

Dan Notestein
BlockTrades Intl Ltd
http://blocktrades.us Fast/Safe/High-Liquidity Crypto Coin Converter

Offline oakmaster

can i send btc ltc and doge directly to the address in my wallet cause just for a test i sent 10 doge yesterday and never received it in my wallet and the same for trade.btc and trade.ltc or do i have to send my deposit to blocktrades to be converted

Offline dannotestein

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We re-enabled BTC->TRADE.BTC purchases yesterday after the fixes to the web wallet were deployed by the main hosters and we've processed all the pending transactions.

The webwallet is still relatively new, however, so we still strongly recommend that you first do a small test deposit and verify receipt of your TRADE.BTC before you make larger purchases. Please note that while BlockTrades will naturally refund any amounts lost due to errors in our code (improper operation of the BlockTrades API), we can't be responsible for errors made by 3rd party apps that make incorrect requests to our API.

On an unrelated note, we've increased liquidity for BTC->BTS purchases now that we're comfortable with the transition to BitShares 2.0. At the current moment, we have an inventory of ~1.5M BTS available for purchase. We plan to resume offerings for BitUSD and other BitAssets that rely on BitShares DEX pricing next week.
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Offline bytemaster

Tried this today...sent BTC to the deposit address.  19 BTC confirmations.  Received nothing so far....very frustrated.

Deposit/withdraw is temporary unavailable. See the posts above.

So, will the funds flow at some point or have I lost my deposit?

You should get the funds.   
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Offline GaltReport

Tried this today...sent BTC to the deposit address.  19 BTC confirmations.  Received nothing so far....very frustrated.

Deposit/withdraw is temporary unavailable. See the posts above.

So, will the funds flow at some point or have I lost my deposit?