Bitcoin Forum

After registering on Coinbase I was surprised there is no way to place my order at $600 and wait for the price to drop to meet the order.

/// 4th January:
Released: http://coinbaseorders.com/
Github: https://github.com/tomholub/coinbaseorders

The system checks the price on Coinbase every second and will buy or sell if the price is right based on your orders.

https://dl.dropboxusercontent.com/u/18452903/orders-screen.png

Cool!  This would make Coinbase a lot more useful.

It's now on http://coinbaseorders.com/ . A few folks started using it which is great. I'll happily accept any feedback or help :-)

Also GitHub: https://github.com/tomholub/coinbaseorders

Made some updates over the weekend to make it more scalable, now it can handle possibly thousands of orders.

Next thing to do is to make sure it checks the price on Coinbase every second, that would be cool.

This is a good example how it can be useful, the dip that happened last night.

I got two discounted coins. I also had order @ 820, and this one did not get triggered, I suspect it was at that price for just a couple seconds.

In about a week the app should catch these fast swings too.

http://coinbaseorders.com/img/overnight-dip.png

Geri, thank you for putting the time in to make this. Here are some ideas you might be able to implement in the future. Some might be helpful, others might not.

- I see you added it to the list, but for me mobile/responsive friendly is important (I think there is a simple setting in twitter bootstrap to do this.)
- Would adding the updated price that Coinbaseorders has last retreived displayed in the navigation be helpful?
- Add the option to trigger an order based on percentages in a time frame. Say the market drops 10% in 5 minutes triggers a buy.
- Add settings so we can change contact information/password?

I hope this project takes off!

Thanks for heads up! I made it responsive for mobile and added the password/profile change thing. I also added the price in header.

% dip/time - why not :-)

That's awesome! I checked it out before seeing your post and was like whoa... he works fast! Awesome!

Yeah one can be pretty flexible without a daytime job :-)

I guess the next thing then would be to update the price each couple seconds

To do the percent dip I would need to keep track of some price history. I'll look at that later

Price is currently updated and orders checked about every second.

Is there anyone else who would benefit from orders based on percent per minutes drop?

Or any other thoughts?

Awesome!

Percent dip buys might not be a great addition right now. I am trying to think of some other tools that could help. However, barebones-to-the-point websites are sometimes the best.

I hope this project gets more attention. It can be very useful!

Sent you a tip! Thanks for your work!

Thanks!

Right now we have about 22 users.

Just curious, how many of those users have connected their Coinbase account? Great site, although I personally don't use Coinbase to trade because of their high 1% fee.

Right now 13 of 25. If you don't trade them back and forth, but simply buy and hold, the price is not bad.

Must be some legal/regulatory reason that Coinbase does not offer this....

But they do support the Android Coinbase Trader which does it. It's featured in their app list. Maybe they're just trying to keep things minimal.

I think they are overwhelmed with the huge increase in their business at the moment, too much so to worry about adding additional features. They seem to be less interested in all the automated trading action and trading in general and more interested in helipng merchants cash out and americans buy btc.

Might be. Which leaves space for others to do cool stuff using their API

Great website!  I was just about to roll my own after unsuccessful searching :P

Any chance you could add trailing limit orders? (and the ability to cancel higher limit orders when a trailing limit order is executed)

Sure, if a few folks folks agree it would be useful I'll add it. Alternatively the source is open for anyone to alter and once implemented I'll use that code

Why no SSL?

SSL would be awesome. If you don't mind donating a little to buy the SSL with, i'll get it up there

I really want to use this. How does it execute orders without compromising security on coinbase?

It lets you connect it to Coinbase (the way you would connect online app to Facebook).

When connecting, it asks you for permissions - buy Bitcoin, sell Bitcoin, view transaction history. It stores tokens encrypted in database, and this is all anyone could do with these tokens.

If the app does get compromised by a 3rd party, the only thing the attacker would get are tokens to buy and sell Bitcoins on someone else's account, but no way to get the Bitcoins out of the account.

Other than that, there's basic security measures like XSS or SQL injection protection mechanisms

I understand. So someone would have to hack the account, and then for some reason want to by or Sell Bitcoins on my account at a price that I may have not wanted to sell at.  They don't have acess to my account and can't send or recieve bitcoins. Gotcha. I'm in!

Trailing limit orders would be a great addition.

Also, I am stillwaiting for the market to hit my limit order. So I have no word on if it works correctly, yet. But I am optimistic!

My $787 order just got hit this night, so I happily added 1 BTC while asleep :-)

I added a $600 limit order. Maybe that is just wishful thinking?

It hit my 2 of my limit orders and worked perfectly!

If you have Instant Buy, you can have it hit many purchases adding up to 1 BTC worth without having to wait the regular 5 days.

awesome!

I wish everyone great luck collecting cheap coins :-)

A bunch of people got below $700 coins this evening. Anyone else joining the club?

I love getting emails like this one:

tom@coinbaseorders.com - You just bought Bitcoin using limit order on Coinbase!

Just read your email. I got $600 coins, so I cannot speak for the others unlucky to get sub-$600 coins while sleeping, but everything executed perfectly for me.

Thanks again for your work on this service.

Also, note, that if you have "Instant" verification, you might be lucky enough to get a few coins "Instantly" if the price happens to drop to $500 or lower, then can resell them on the dead cat bounce if this were to happen again ;P

Hey guys, some people just got their coins at around $400. I personally got a pleasant $425.

Some statistics:
142 registered users
745 orders placed
285 orders executed

It's getting more robust over time, I'm continually fixing minor issues to make sure your orders keep getting executed.

You can follow the development here: https://github.com/tomholub/coinbaseorders

It's free and will remain free, donation based. You can help here: http://coinbaseorders.com/homepage/donate

I recently got $539 coins, I thought that was pretty good. I didn't know Coinbase went down to $400? I have a 10 coin order at $120...a man can only hope!!

Thanks again, this is a great utility!

DrBitcoin - yup, could have even gotten some cheaper ones! :-)

----

Recently got some help with development from Matt Faus as seen on GitHub commit that is now live on the site: https://github.com/tomholub/coinbaseorders/commit/40c34756c9d52cf2a47440b7beaabbe2f274b7b0

Any other developers around? I'll help you set up your dev environment and will help overcome any hurdles to make it easy for you to contribute.

is there an alternative that is as safe?

how does this work in terms of intergration with my coinbase account? take to time to explain in detail ie:

1) click on: coinbaseorders.com
2) ...

Sure,

1, open coinbaseorders.com
2, sign up with email/password (different than on Coinbase!)
3, confirm email address by clicking on a link that you receive
4, back on the app, click "connect to coinbase" button and it will take you to Coinbase website. It will ask you for permissions to Buy, Sell, view balance, and view transaction history on your coinbase account. All this is happening on Coinbase website.
5, confirm. it takes you back to coinbase orders. My app receives tokens and will use these tokens to communicate with Coinbase API to put orders on your account.
6, go to "orders" page. Put in a order that you want to buy at, say 2BTC at $550.
7, have a sound sleep
8, when the price drops down, to $550 or less, the app will connect to your Coinbase account with the tokens it has, and buy or sell appropriate amount
(9, when you don't want to use the app anymore, click on "Disconnect from Coinbase" button that will remove your tokens from my database)

- tokens are stored encrypted in database
- have to be used with my own private keys stored out of the database
- have limited privileges

The only "risk" I can think of is that the app would not buy your coins when it should, due to error, which happened to 3 few users already (of 160) and I'm solving it with Coinbase devs right now.

What happens in this scenario? (Here is an example)

-Price of Bitcoin is $700
-I have a 1BTC Buy order at $600
-I have a 2BTC Buy order at $500
-I have a 3BTC Buy order at $400
-Price of Bitcoin drops to $300

Does it execute all buy orders? Or just the first one? Is there a refractory period? Thanks. Just curious.

If price suddenly drops to $300, all the orders will get executed, so you'll get 6 btc in total, at various prices.

Excellent. Thanks.

This website looks pretty cool.  I made a similar thing as an Android app that you guys could check out:
https://play.google.com/store/apps/details?id=com.black7software.coinbaseexchange 
It has support for multiple concurrent buy / sell orders, 8 different order types, order history, notifications, and other cool stuff.

I've submitted it on BitHack competition by Coinbase, thanks guys for suggestions.

Hey Tom. This is awesome and I would like to contribute to development. Let's chat about getting me set up.

Hey, here's most of what you'll need: https://github.com/tomholub/coinbaseorders . I'll help you set up dev environment so you can run it locally. Happy for any help! :-)

I'd be interested in using this "app" but only if you would add the google 2fa. Simply because if the quoted does happen, you can't go crying to coinbase to get the "deal" reversed which depending on coin price you can easily lose money. Not just on say a dip if someone bought at $500 and you notice it at $450 but the money lost in coinbase fees and bank fees for transfers you weren't prepared for thus causing $35 NSF fees.

Just because the attacker can't get the coin doesn't mean they still can't fuck you over.

Excellent app better if added google 2fa.

You need to look at the motivation though. What has an "attacker" to gain from buying coins on your account?

That being said, I will support any effort to add Google 2 Factor, the code is open source after all. Anyone who wants to look into this, I'll be happy to help you out.

The thing an attacker has to gain is just being able to mess with someone by accumulating banking fees etc that they're not responsible for.