Bitcoin Forum

In the next few hours we will be removing the requirement for BTC reserves.

This means that you can make as many buy orders as you like as long as you have enough BTC to cover your highest priced buy.

Once the order is fulfilled, your new balance is calculated, and your other buy orders for more than your new balance will be cancelled.


Below is a list of major features and their ETA

New charts and API server(will be open source) - 1 week to live launch
Options on all GLBSE assets and an options market - 2 weeks to live launch
Lending assets (including BTC) with interest - 3 weeks to live launch
Margin and shorting - 4 weeks to live launch
Private markets for private stock - 3 weeks to live launch
Scheduling dividend payments and buybacks - 1 week to live launch

There is also a long list of smaller features and improvements that are going to be rolled into GLBSE over the next few weeks that aren't listed here.

I'll keep this thread updated as progress is made.

Nefario

All of these coming releases are met with much anticipation.

Thanks for continuing to improve GLBSE.

Wow, this all looks really great. As long as server performance can keep up, I'm excited!

A big part of the work has been going on the backend stuff, to enable GLBSE to be run on multiple machines, scale, and still be secure. That had to be done before we could progress with the OP's features.

Love the work Nefario.

Great work Nefario.


This is going to  be great for shorting stocks  :)

TY!!!    :D

This is the whole point, and it won't be shorting with "vitual" assets that don't exist as with most margin or shorting, it will be existing ones, and the lenders will be able to decide the rate in which they charge.

So will the site be faster soon?

If so, bonus!

Yes, combined with the moving of our database to a dedicated DB server it will be a significant improvement.

Nice.

What will be Open Source exactly? Looking forward to take a look.

charts and the public API.

James,

I've seen a thread about someone asking the legality of the GLBSE and myself, I'm just getting into stocks, IPOs and such so I'm not 100% sure yet, but is there any reason to believe that putting up an IPO on the GLBSE would be illegal? And even if not for every country, how about for the USA? Would you be held responsible legally if an IPO there like Pirate ran out with everyone's money? Don't need a legal letter or anything, just asking your opinion.

Cheers

This is out of topic, and should either be in a PM or in the other GLBSE threads (of which there are several) on this topic.

Read GLBSE's TOS.

Also hard to believe you're just getting into stocks etc with your involvement with Hermes and Kronos, you seem to be playing stupid.

Thanks! Doing now.

Those are great features! Thanks for creating and enhancing GLBSE.

Ideally I'd like to see the following feature added to the list:

"Globally-distributed bulletproof backups, so that the data and software can be recovered in the event of the operator's disappearance or demise, or seizure of the GLBSE data."

We already have this, although it's not distributed to everyone it has been given to several people.

This is all in another GLBSE related thread. If I die GLBSE will continue onwards, at the very least to ensure that all accounts have been settled, but most likely with someone else to take over.

That's great to hear ... but ... Long Live Nefario!

All very interesting.

Regarding: Margin and shorting - 4 weeks to live launch

How will this work, exactly? Will GLBSE be purchasing stocks in companies? Or is this a bucket shop thing? Or not related to stocks, just BTC?

Good question.

We will allow users to lend their BTC and assets to other users for the sole purpose of trading on margin and shorting. This will mean that they (the borrowers) will not be able to withdraw any of those related funds until the they have paid back what they have borrowed.

The lenders will be able to set the interest rate that they charge for lending out, with the understanding that if the market becomes illiquid, they may lose their funds. They will also be able to specify what assets they are willing to allow their lent funds to purchase.

It will be available for all assets on GLBSE.

Thanks a lot, Nefario. Great to hear that it is implemented!

Do you consider for some future update that the buy orders would be only disabled (taken out of bid list) until the balance gets above the order cost?
Or do you prefer to sort this out with margin trading only?
What condition do you plan on margin trading (if it isn't to early to ask)?

Pajka

+1 I would like to see this too, where the bid goes inactive but comes reactivated once the balance returns, this way you save a lot of time placing all those bids again.

Works fine ...
except for the fact that I get "page not found" always when I click to cancel an order ... though the order gets canceled
Pajka

Fixed, thanks for the tip.

Is it implemented? I still see