Bitcoin Forum

Free Entry Trial Mode Tournament

Register at:  https://beta.kraken.com (https://beta.kraken.com)
Begin:  Monday, June 17th 12:00am Pacific (-7:00 GMT)
End:  Sunday, June 23rd 11:59pm Pacific

On the night of Sunday, June 17th we'll:

• wipe the beta ledger, order book, balances
• credit all accounts with identical balances
• disable the trade API

Rules & Regs:

• We ask that you refrain from employing the DDoS strategy.
• You're allowed to create and trade on as many accounts as you want.  New accounts created during the tournament will be credited with the same starter funds.
• You must close out all open positions by the end of the tournament.  Those with remaining open positions will be disqualified.
  
• Winners determined according to the highest combined USD converted balances.

Prizes:

• 1st Place - 5 BTC
• 2nd Place - 3 BTC
• 3rd Place - 2 BTC

Note:  Bug Bounty still ongoing here:  https://bitcointalk.org/index.php?topic=166828.0 (https://bitcointalk.org/index.php?topic=166828.0)

If you're not already participating in the beta, feel free to use the weekend to get accustomed to the site.  The beta is still in trial mode and new accounts are automatically funded with play money for you to test with.

Please post questions here.  Good luck!

Awesome!  I'm assuming this is for people who have been beta testing from the beginning as well?

Just signed up, very impressed with the site, well done. So we've got virtual virtual currency to play with!

What's the starter funds?

Surely this is just a contest to see who can make the most sock pupppets (multiple accounts).

Trading +100% in a week is orders of magnitude more difficult making a new account.

Tip: Bitcoin was designed to make sock puppets ineffective

what does the error "Rate limit exceeded" imply when trying to execute an order?


https://i.imgur.com/GdRctof.png

EDIT: Same error with only 10BTC and no leverage
EDIT2: Same error with a simple buy/sell
https://i.imgur.com/hblbh8C.png

So we can't use automated methods to trade during the week?

It means that you're doing too much too fast and you'll have to wait a bit and move slower.  I'll check on what the limits are set at now and make sure they're not too low for the tournament.


Starter funds will be announced at the time the tournament starts.

Only the top 3 accounts will receive prizes so it's better to have 1 account with a $1000 profit than 1000 accounts with a $1 profit.  I'll clarify that in the announcement.  Obviously, there are still some strategies that'd allow you to benefit from multiple accounts but you'll have work them manually with the trade api disabled.


Sure, if you can find a way to automate your trading without the trade api.

will test it out. cool contest

Is tournament started?

The recent trades for BTC/USD is not updating at the moment.

Yes, tournament is underway!

Edit: high 140.5, low 30.  :D

Looking into this.

disabling mtgox data was extremely stupid

Because?

Also I was jut getting used to all the trading by using another account and I tried selling all my xrp for a bitcoin and I did but there was a fee of 1 bitcoin on that transfer? http://imgur.com/a/om8gg

Is that intended?

do i really need to explain this ?

because the low of price went to 30 that means your contest is pointless if one make dozens of account push the price down and go long at 30 then maker a push up to 150

Yea this guy has a point. With a little work someone could manipulate this market so easily because it's so few people in it and in the process take all three prizes.

could ? is already done

https://i.imgur.com/P0SGtbM.jpg

I can't reach the site, also, has the contest already started?  Thanks!  :)

Yup.  That's part of the game.

Ok but are the signups now disabled for good? I would highly suggest you make the market data from gox because this isnt a competition of who can trade the best but who can manipulate this puny market the best.

No, signups are not disabled.  You can create as many accounts as you want.  Not sure how being a good trader and market manipulator are mutually exclusive.  Even within a mature market, you'd want to do both to the extent possible.

http://imgur.com/JbM4QSr Signups are down

With this immature market I can create a new account and buy out all of the sell orders until I get to mine and basically fund my first account with a couple of accounts to take out the sell walls since their isn't that many users. If this was actual trading people wouldn't waste new money to garuntee one of their accounts a portion of that money. It would be a net loss on all accounts except for the one.

Also you never answered my questions about a 1 btc fee I had earlier in the thread...can you look at that?

Whoo! Market Manipulation!
Just sold some BTC at $1 a piece!  Who's gonna get it?
 :)
Just curious, how does Mt. Gox prevent this?
Or is it just that we are more careless with our play money?

Sorry for the double post but I just wanted to say I agree with the above statement...  ;)

What do you mean??

If you want to sell btc at a dollar a piece go right ahead. Mt Gox doesn't get cases like this because people are dealing with real assets while we have monopoly money. Here you can get the equivalent of about 15k by pressing a few buttons. The real market isn't like that.

It's play money. Let's have fun while we can!  :)

It's play money but that does not detract from the fact that this is a competition with 10btc at stake.

It doesn't matter about the 10 BTC or not, this exchange looks good and probably succeed with my playing!

basically because your fake money dont affect the market so even if you make  9000 accounts sell 200 fake BTC with each account the mtgox ticker will be still 101 so you cant use 8999 accounts to transfer the fake moneys to 1 account and win the contest

its online now:
https://beta.kraken.com/signup

hmmm....for me it is still down....can someone on the kraken side check to see if I got blacklisted or something??? I don't want to be at a disadvantage for this competition. added a timestamp http://imgur.com/bUSMSy8

Now I am getting a rate limit exceeded error

Curious, how will the winner be determined?
USD or BTC?

It's the usd of the converted currencies at the time

It would be nice if my issue could be resolved because I am not able to sign up for other accounts  :-[
Also an update at the end of every day to say what the max amount someone is up to would be nice.
Thanks for this fun competition by the way...the site is actually really easy to use.

The order book isn't updating right now.  I'm putting orders out between the bid ask but the top of book never adjusts.  Orders do route to the better prices though. 

Yes, here:

https://bitcointalk.org/index.php?topic=166828.0

Yeah, I've pointed this out to the devs

Sent you a PM

My signup issues are resolved.

Is it possible to have an update of sorts and say the top amount so far so we can know where we stand?

Yeah! How much money do y'all have?

You first I insist  ;)

It's not working for me, my orders don't show up on the order book.

Order book and everything else data display wise has been broken since midnight last night...Everything still works and trades are still executed but the data does not display.

I have 240 BTC in play money right now but I'll stop.
The order book was a central part of my strategy!

Order book and charts seem to be working again...thanks devs!  :D

Ooh, going back to trading now!
How much do you have SL?

I'll pm you but I don't want to give it out to everyone ya know...is a competition after all.

I have spent wayyy too much of my time on this contest lol. Probably been on the site for a good 15 hours total combined now.

Is it possible to have an update on the top position? Maybe just say the amount?

On the topic of the rules what did you mean by :
You must close out all open positions by the end of the tournament.  Those with remaining open positions will be disqualified.
Do you mean orders? What are positions?

A "position" means any trade using margin. The profit on margin trades is unrealized until the position closes. So the point is that we won't count unrealized profits in the contest - all positions must be closed in order to count. I'll see about revealing the top player so far, but no guarantees on this.

Ah gotcha...Thanks for the help.

Pretty interesting how our little mini economy is stabilizing and the buy and sell walls are building up...Seems like it's going to be stable at 78 for the next day or so.

Hello,

The order book is not updated. Made some trades at market prices but the OB did never show any updates...  ???

rgds

There is an issue with the order book (devs are working on it), but market orders won't ever show up in the OB displayed under "maket data" since they only last for a few moments. The OB just shows current limit orders.

Holy fuck....just saw someone put in an order for 250k bitcoin for 10 (buying)

Pretty sure this means someone is up to 2.5mil at least.

I honestly do not think that this is possible. From what I have seen there has been a max of like 20k 24hr volume during days one and 2, maybe 10k day 3, and probably total of 10k day 4. So we would come up with about 60k maximum coins being traded. All coins have to come from accounts being made so 60,000/100=600 accounts. So we have about 600 accounts that are funded with 5000 usd each. So that gives us 3million usd total in the system. I have been watching the graphs and order book for the past 4 days. From what I have seen I believe that someone with maybe admin powers placed this order because I think it is impossible for one person to accumulate so much while being under the radar.

Here is a screenshot of the order(keep in mind you have to have enough funds to actually place an order) https://i.imgur.com/DI9EMeE.png also if the buy and sell walls look odd it is because I have been working all night to knock them down and make some profit.

I am requesting that a developer investigate this order that was placed around 1:15 est. because it is most likely fraudulent.

Thank you in advance,
SoggyLettuce

I also submitted a ticket onto your site about this. If this is real I am sorry for the misinformation but I am fairly confident.

^^^ Thanks for pointing this out. We are looking into the $2.5 mil order.

I tried to recover my password, but I don't get any maisl from kraken.com. Could you check if the recovery process runs?

Any new info??

It worked for me.

These This is our order to prevent extreme gaming. There's another one on the high end and high/low orders for BTC/XRP too. These orders have been there from the beginning but have been getting filtered out of the order book. I think we plan to eliminate filtering for the order book.

So, don't worry, there's no contestant with $2.5 mil.  :)

Phew...thought I was going to have to work a lot harder lol. Thanks for the info and great contest.

I put a limit order in at a price of 1000 just to put it through the order book but it got filled at 1000.  I’m a hundred percent sure that there were sell orders in the 90s on the book because I had an outstanding sell order larger than this in the 90s.  Why did I get Filled at such a high price?

Ah, that was you! Your order actually prompted a ticket this morning. When you put the limit buy in at $1000, the lowest ask on the book was actually another order of yours. So your buy order tried to match against the lowest sell order, but the lowest sell order was yours. This basically caused the matching for your $1000 order to go haywire and you ended up getting matched against the oldest sell order on the book, which is our limit sell order at >=250 (put there to limit extreme gaming of the system). Since that order will take any offer >= 250, it was happy to take your order at $1000.

The good news in this is that you discovered a bug, so I should be able to get you a bug bounty for this. Please post/PM your address for the bounty.

Damn.  Makes way more sense now. Sent you a pm with the address.

Really like the site BTW.  Hope that order didn't bump me from winning the contest  ;)

Yea I'm pretty much done too...what are you sitting at?

really nice website and you guys make really good work with security

Thanks :)

12 hours left to go on the tournament!

Man this sure went by fast. I know I had fun figuring things out. Good luck to everyone else on the prizes, I can't wait to see what everyone else has ended up at.

Also I can't wait for this exchange to go out of beta! It is so nice.

Things that I have noticed that could be changed/improved:
Maybe have an option to edit orders or cancel and reorder more conveniently?
The market data was pretty flaky throughout the whole thing...I would make sure that is 100%
Maybe add an option to adjust the graph's timelines in market data. I would have loved to see the whole weeks spread instead of just 24h.
I also found myself switching from the order section to market data and back a lot...Maybe have the order book displayed under the order tab as well?

Overall it was a good experience using this site for a week.

Others have mentioned this too. I'm sure this kind of feature will be added eventually, but not sure about the time frame.
Yeah, I think we've got at least some of the issues sorted already.
Is there any particular utility you could get out of that, or is it just that it'd be cool to see?
It's easy to miss, but actually there is a tab with the order book under each of the order screens.
Thanks - really appreciate all your feedback.

who won?

Ends at midnight....is it going to be announced right at midnight or tomorrow?

Results are in!

using the 24 hr weighted avg of 56.72198 BTCUSD and 13216.69 BTCXRP, the top 10 are:

      Total           USD         BTC         XRP     T  P
  363502.92     363502.92        0.00        0.00   312  0
  280941.27      68307.79     3195.09  7319709.53   203  0
  151163.58      25281.51     2219.28        0.00   492  0
   91291.85      33281.10      898.22  1646202.35    44  0
   40107.07        608.50      402.64  3883399.10    42  0
   39080.50       3380.95      558.90   931807.34    36  0
   26657.94      17804.17      118.27   500000.00    22  0
   21248.54        489.40      365.98        0.00    22  0
   20478.93      18333.93        0.00   500000.00    16  0
   19563.69      19353.37        3.71        0.00    14  0

T = # of trades.  P = # of positions currently open

I'll be emailing the top 3 in a sec for prize payout addresses.  Thanks to everyone who participated, helped us test the system and gave us input.  We might have time for one more (probably with different rules) before we launch real trading so stay tuned!

 :D I actually won!!!!

Thank you kraken for this great contest and great site.

SoggyLettuce - congrats!

OH, shit i missed this contest. :(

Anyways Congrats winners..


PS: I think we need a special "contest" section.

Well done!

Wow, I thought there were more traders in this! I traded one day and got 9th 8)