Bitcoin Forum

TickSpread.com (http://TickSpread.com) is now live for trading!

We want to be the best exchange for short-term traders. No need to worry about taker or maker fees, and fees are never higher than 10% of your profits. You can literally be profitable buying and selling seconds later.

Connect your Metamask wallet and you'll instantly get a 1 USD bonus, so that you can immediately start trading with up to 100x leverage. Currently we have a single market, an ETH perpetual futures.

If you feel like depositing, we now accept stablecoins in Binance Smart Chain, Polygon and Gnosis Chain. Minimum withdraw is amount 5 USD. Be aware that withdrawals can take up to 24h.

We have a totally new matching engine that generates dozens of auctions per second. This lets arbitrage bots compete against each other to generate price improvement for maker orders during sudden price shocks. That way we can have very small spreads without having to pay rebates to market makers. If you are interested in learning more, please wait for our whitepaper!

First 50 users to test the system for us will receive a transfer from us as a thank you note.

Each user will get between 5 - 100 USDC, depending on how much useful feedback you give us. To qualify you need to register + make several trades, and send us a contact information (email, telegram) so that we can reach you our for further feedback! We will not send you spam. Even after first 50 users we'll keep rewarding helpful feedback.

Enjoy!

Kelvin

---

NEW FEATURES

[1] Market orders! They now show price at which they are expected to execute.

[2] New pages:

• Contract & Fees (https://tickspread.com/contract_fees)
• Funding Payments (https://tickspread.com/funding_payment)
• Leverage & Position (https://tickspread.com/leverage_position)
• Market Mechanism (https://tickspread.com/market_mechanism)

[3] Notifications in the "Open Orders" and "My Trades" tabs.

[4] New "Pnl & Position" panel shows your PnL in real time! It also has a button for you to close your position. Calculator button lets you see your profits (including fees).

[5] Balance (total and frozen) is now displayed at the top bar. Total balance will flash green or red when you close a position to indicate a profit or loss.

[6] Flashes for changes in the orderbook and for new trades.

[7] Close Position button. Never fails due to lack of available balance!

[8] Connect with Metamask (instead of email/password).

[9] Real-money deposits and withdrawals.

[10] Deposits in different L2 chains: Gnosis Chain, Binance Smart Chain, Polygon POS

[11] Single USD balance, with automatic conversion during deposits and withdrawals of other stablecoins. 100% of USD balances are backed by USDC on Ethereum Mainnet.

---

BUG REPORTS / FEEDBACK

[1] Show popup information on why the balance is frozen (particularly for open positions). TODO

[2] Make open positions visible next to open orders, and have a button to close an open position. DONE

[3] Something went wrong popup when creating an order. FIXED

[4] Wrong (placeholder) information in the account page. FIXED. Page now displays work in progress, will display correct account information soon.

[5] Website unresponsive when using Tor. We have not investigated yet.

[6] Order book tick size (grouping) button does not match with website theme. TODO

[7] Submit a Feedback section has overlapping text. FIXED

[8] Calculator has arrow facing wrong side. FIXED

[9] Should close calculator window when clicking outside. FIXED

[10] Alignment on the position section. DONE, we have a new panel now

[11] Withdraw not being processed correctly (no balance frozen). FIXED. However, the old withdraw was processed with amount = 0.

[12] Withdraw request confirmation link points to login page. CLOSED, no longer applicable.

[13] Withdraw gives API 500 instead of warning amount is less than minimum. FIXED
.
[14] Server error, could not connect to TickSpread. FIXED, we are up and running again

[15] Add option to generate new addresses to deposit. NEW FEATURE planned for the future.

[16] Automatic disconnect and logging off. FIXED.

[17] Set manual liquidation price for order, see Profit and Loss. ON PROGRESS - we are working on a new trading interface to make it much easier.

[18] 2FA for accounts. CLOSED, less relevant now that you connect with your wallet! We might require signature for some future actions (internal transfer, withdraw to different address, etc).

[19] Add withdraw address in the confirmation email - CLOSED, we no longer require your email.

[20] Trading rules link redirects to login - FIXED we removed this page for now, check the different pages on the services dropdown menu ("Contract & Fees", "Funding Payments", etc.)

[21] Bug that intermingles dark and light themes - Probably solved

[22] Login error - FIXED, was giving wrong error details, gateway was down.

[23] Withdraw appears as confirmed, in a green box, when it is not complete yet - DONE colors should be more intuitive now.

[24] Withdraws failing to complete - FIXED

[25] Automatic withdraws - TODO (we process them manually now)

[26] Tutorial - NEW FEATURE planned for the future

[27] Real-time PNL Done! Check it out!

[28] More intuitive place order panel - NEW FEATURE

[29] Withdraw as pending does not freeze balance - DONE

[30] Better Limit button in place order - FIXED

[31] Proof of funds (will implement using hashes and Merkle trees) - NEW FEATURE

[32] Downtime (28/Jun, 11am-1pm) - FIXED

[33] Active/filled order doesn't automatically listed on the My Position - FIXED.

[34] Market order may often not execute and appear as a limit order - FIXED should not happen very often again, as we are increasing the limit price for them. We'll never have truly unlimited market orders to avoid trading mistakes, rather, we now set a high-limit for them. DONE cancel order when it does not execute immediately (Immediate-or-Cancel type). TODO give warning to user when market order is cancelled and does not execute.

[35] Withdraw date messes up with table - TODO, we still have an issue with the withdraw date column in the withdraw history tab.

[36] Price is empty when you click Limit order - TODO we'll put a default value close to current price.

[37] Price in Limit does not change when clicking on orderbook - FIXED

[38] When creating account, should let you know if we are waiting for email confirmation when you try to log in - CLOSED, we no longer have email accounts.

[39] You need balance to send any order, including orders to close your position. This means that if you create a position with all your margin, you may get a stuck position that you can't close.  This is a really bad bug. We are sorry for that. The only way to avoid that for now is leaving some available balance. We are working right now on a solution to this problem, but will take a while. We'll not launch with real money until this is fixed. FIXED, we now have a close position button that does not require extra balance.

[40] Disable "Close Position" button when position is zero - DONE

[41] Some components may drop connection silently, and balance shows "0 mBTC" while loading - FIXED, and we now have a loading icon.

---

Bitcoin sent for helpful feedback:

0.3 mBTC (https://www.blockchain.com/btc/tx/2d15ec661ebae90881f528c567d2da261feec53518ae4670d0c372434a9fca13) to dkbit98
0.6 mBTC (https://www.blockchain.com/btc/tx/e7134e05efe43cb58142883bf5b5666833bfaf1e7fa12eb3dc8dcf7498c1b030) to LoyceV
0.3 mBTC (https://www.blockchain.com/btc/tx/f11d1a398065ad866df57dd9aa0170eaa24be43a190449f543c53536b43da195) to vv181
0.3 mBTC (https://www.blockchain.com/btc/tx/143a128ebf02bf90ef3ba916bc5f53051d680438160a9ed8f3bd57362b20edee) for BASE16
0.3 mBTC (https://www.blockchain.com/btc/tx/175857f2fec7b69b9f0fca0f6b6975491b503efa397b789fa292223fe206e893) to atomicarthur
0.5 mBTC (https://www.blockchain.com/btc/tx/bfc4aef29deeda130798dd6072e824032d6cde3245f61810e19086f9b16fac1e) to Clairvoyance, sorry for the long delay!

Thank you very much for all others that are testing, your feedback is really important to us!!!

I created account and registered on your website and done some testing but one and five second trading is crazy unpredictable, and I don't understand why you would need to have any token for this.

After making few trades I have some of my testnet coins frozen and they stay frozen even after canceling my position, so is there any way unfreeze this coins and how?

This "five second trading" was just meant as an example of what you can do at our exchange that you definitively can't do elsewhere. Please feel free to do more traditional day trading.

Regarding your balance, it looks like you still have a long position of +0.2 mBTC. If you close this position (by sending a sell order) your balance should be unfrozen (+/- your profits). You say you tried to cancel your position, what did you try to do? Maybe you can help us make it more intuitive.

Future tokens were just meant as a (small) thank you gift! If we do well these may be worth 100x-1000x in the future, but you don't need them for trading (in the future they'll give trading fee discounts and other benefits). Thanks for trying out, hope to see you coming back to close your position and trade more :D

what is the point of testnet coins here? testnet is moslty to test the new dev of the main network just like bitcoin main network with zero economic value.
You can give the user any amount as it is an update of the database and after he succeeds in successfully trying the platform, that balance can be replaced with your free tokens.

Personally, I do not encourage the use of leverage and risky trading like that, as even repetition and practice will not make you a professional.

I can't sell something I don't have because I went to cancel open order and I think you should improve interface and make it more intuitive.
Maybe adding some tutorial page with instructions would help with this.
One more issue I have today is that I can't place any order and I an getting error that something went wrong and that I should contact support:

https://i.imgur.com/wwlhFA2.jpg

I would prefer to get a real Bitcoin as a gift, instead of some new speculative token that may never get listed on any exchanges.

You can withdraw those coins to your own testnet BTC wallet, you can also deposit, and it's obviously done for testing, nobody is crazy enough to test something like this with real Bitcoin.

Thank you for the feedback. What do you see in your balance + position panel?

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

Here you can see that my position is -8.5 mBTC. In your case, it should be something like +0.2 mBTC? If so, you can send a sell order to close the position. If it says your position is zero, and you have no open orders, and your balance is still frozen, then this is a bug and we need to investigate! Can you share a screenshot of what you see in this panel?

And yes, we absolutely need to improve the interface to make it more intuitive. It totally sucks right now! But we'll be improving it little by little thanks to feedback like yours. Very much appreciated!

Regarding making it more intuitive, what did you expect for the position? For instance, Binance has this:

https://user-images.githubusercontent.com/4450261/76230014-1acd0580-6249-11ea-80f9-89b5b4344fab.png

Would something like this make more sense to you?


I think you are right! No one cares about our potential tokens right now. But I must say that our tokens have actually nearly a 100% chance of being listed, because we are going to list it ourselves even if no one else will!

Nevertheless, changed it already, we'll pay 0.1 mBTC to 3.0 mBTC for helpful feedback! You deserve some already, sent 0.3 mBTC. Not much, but please keep testing it for us!

https://www.blockchain.com/btc/tx/2d15ec661ebae90881f528c567d2da261feec53518ae4670d0c372434a9fca13
 (https://www.blockchain.com/btc/tx/2d15ec661ebae90881f528c567d2da261feec53518ae4670d0c372434a9fca13)


Yeah, we are only going to accept real bitcoin once things are running for quite a while with no problems. Also, we'll be using testnet bitcoins to test our safety protocols. Current we have an HD wallet in which only the master public key is in the servers to generate addresses to deposit, but we are working on making the HD wallet a hot wallet so that it can move funds in real time to our multisig cold storage. We'll also be developing and following safety protocols before signing the offline transactions, even while we are still using testnet bitcoins, so that we have enough practice with them.

We'll probably use a 2-out-of-2 multisig, with one of the keys with me here in Brazil and the other with our employee in North America, and both keys with encrypted copies somewhere else in case one of us dies


Regarding leverage, yes it can be used irresponsably, especially if the user is putting a substantial part of its money at risk. But if you only risk a small amount of money in each trade, you can do short-term trades responsably, whether you are trading based on price signals, news, or just for entertainment. We encourage that by segregating margin per order and position. So you never lose more than what you define explicitly.

Also, leverage has several other legitimate uses:

• By making the same trades with less margin, you need to leave less of money in centralized exchanges, and so less custody risk. So users can own the keys for most of their money.
• You can do some trades without having to wait for a deposit to be credited, which might make you lose opportunities.
• Market makers use leverage to provide more liquidity, and this benefits all traders, whether they use leverage or not.

Regarding your technical issue, I believe we were just updating the system the moment you tried. Can you try again and tell us if the problem persists?

Things I noticed:
When I click Account, I see this:
Does that mean I'm seeing someone else's email address (and even IP address) (censored to post it here)?

I tried to deposit tBTC, but get "transaction failed" in Coinomi. It used to work just fine, but that problem is on my end. I used a 2 faucets instead, deposits arrived as expected.

Related to the image links you posted: Did you know a Copper Membership (https://bitcointalk.org/index.php?action=credit;promote) (around $20) allows you to post embedded images as a Newbie (otherwise you'd have to be at least Jr. Member (https://bitcointalk.org/index.php?topic=2766177.0)).
Also: please check the forum rules (https://bitcointalk.org/index.php?topic=703657.0): you should edit your last post if you're the last one who posted in a topic instead of making 2 posts in a row.

This sounds risky: who gets access to the encrypted copies, and doesn't that negate the use of multisig?
Have you considered 2-out-of-3 multisig instead? One in Brazil, one in North America, and the last key wherever you're currently keeping the 2 encrypted copies?

I've tested 2 margin/forex trading sites before. I'm playing around on yours now. As before, I feel like I have no idea what I'm doing ;)

What's annoying, is that I was logged out after a while, without warning. I wasn't even unactive, I had just closed some trades.

I can confim the Frozen funds:
https://loyce.club/other/tickspread.png
It doesn't look right to have funds Frozen/Margin without open orders (but again: I feel like a total n00b in this). Or maybe it just takes a while to update the value?

Could it be the bots weren't on a bit earlier? Now the entire site gets quite unresponsive because of the quick movements everywhere. It might be because I'm using Tor (and my laptop is quite old), but it takes several seconds for a new order to be added.

Saw that too. Pretty sure it's just a placeholder.
I did notice the site slower when I opened it over Tor, when I don't the site is quite fast.

---

Gonna give a few inputs about the UI/UX.
I think it's better to match the order book tick size to the whole site theme. Displaying the default select box might look not too good. I also notice on the feedback page, the "Submit a Feedback" section, there is some text that overlaying the image on the smaller screen size.

Upon clicking the calculator(?) icon on the "Place Order" section, Did you intended to put the arrow left-facing? if the icon is intended to close the window, personally, it's better to make the arrow facing right, or maybe just change it to the exit icon. Also, it would be good if it is able to close the window when clicking outside the "Profit Calculator" window.

I also notice the dollar sign icon on the Position section alignment looks off compared to the others icon. The last thing is, I agree if you make a tutorial instruction on the Trade page.

This is just placeholder account information for a page that is not yet ready. Sorry for that, we updated to remove this page while we get it working.


Thanks for the suggestion! Purchased it already, just waiting for the confirmation. Sorry for the two posts in a row, won't do that again.


That is an interesting discussion, I might open a new topic eventually to get more feedback on the relative merits of the two solutions. Yes, 2-out-of-3 is the standard solution, but we don't have three trusted people in three geographically different regions. For instance, I do have a co-founder who lives nearby, but we can't hold one key each because we see each other nearly every day, or else someone might track us down and kidnap both of us at once. Other trusted people living further away are close friends and would not commit to keeping the funds safe in case me or my family is in danger. So this is quite a complicated problem if you think about it. We know it will probably take quite some time before we are entrusted with significant assets, but we take the responsibility of holding other people's money very seriously.

In the 2-out-of-2 multisig proposal that we are considering, the backup keys can be cross-encrypted. So we have:

P1 holding key A + encryption keys for backup of key B
P2 holding key B + encryption keys for backup of key A

So the person holding the backup key A can't team up with the person holding backup key B to steal the funds. If P1 dies, the person trusted by P1 holding the backup for key A will approach P2 and ask for the encryption key, and vice versa. Moreover, kidnapping P1's loved ones is useless because, although P1 and P2 trust each other, neither P2 nor P2's backup holder have personal ties to P1. We can verify that the backup holders have not lost their keys by giving them several other files encrypted with several other keys and asking them regularly to provide proof that they can open them.

But yes, we agree this is a nonstandard solution, and we are going to ask the community for feedback on this approach before we make a decision.


Thanks for the feedback, this has happened to me as well, we are trying to investigate what is causing this issue. We'll let you know once it is fixed.


You are the second person to report being confused about the frozen funds, so that is something we definitively need to improve. What is happening here is that, while you do not have open orders, you do have open positions, and these freeze your balance as well! The amount frozen is the most you can lose if the price goes against you and you get liquidated. You can see that the amount frozen is exacly what is in the "Total Margin" field of the position. Still, given that everybody is getting confused about that, we need to find a way to make it more intuitive!

One idea I am considering is having a small information icon next to the frozen balance, so that when the user hovers the mouse over it, a popup baloon appears explaining the breakdown of what is causing the balance to be frozen (how much due to open orders, how much due to open position, how much due to other stuff like pending withdraws).

Another idea is adding a line for an open position next to the open orders, along with a button for the user to close it, just like Binance and other exchanges have. This may help making it more clear that you do have a position open. Any other ideas?


Our servers are running in AWS at the Tokyo region, so there may be some network ping for the orders to get there and ping back. Latency will get worse when using Tor, but the website should not get unresponsible because of that. May we reach up to you later to investigate this issue?

Thanks for the very helpful feedback. You also made the first tBTC deposit and several trades. You even made a big high-leverage position and got liquidated!

Just sent 0.6 mBTC, thanks!

https://www.blockchain.com/btc/tx/e7134e05efe43cb58142883bf5b5666833bfaf1e7fa12eb3dc8dcf7498c1b030
 (https://www.blockchain.com/btc/tx/e7134e05efe43cb58142883bf5b5666833bfaf1e7fa12eb3dc8dcf7498c1b030)


Thanks for the feedback, we'll be fixing all these issues! I feel we need to learn more about what is causing friction before we can create a good tutorial, though. Also, we saw several withdraw requests, was it you?

Thank you all!

Kelvin

Yep, I tried the withdrawal feature. But doesn't seem it works. I did receive the withdrawal request confirmation, but when I click it, it just shows your login page. When I log on, the withdrawal status doesn't change.

At first, I thought you didn't activate the withdrawing feature on this test mode, checking out the network log, it shows me an API 500 Internal Server Error. Turns out I'm requesting below the minimum required amount(<1mBtc). Maybe you could show a warning to the user if they requested below the minimum amount, I notice if I put 0, the site gives an error the amount not accepted.

I'm still not sure what I'm doing, for people new to this it's not very obvious what "buy" and "sell" does in relation with the margin and current price.

While trying, I got an error (https://tickspread.com/error):
https://loyce.club/other/tickspread2.png
When I click "Contact us", it shortly shows a contact form, then jumps back to the error page. I don't think that's supposed to happen.

Hence my question about the encrypted backups: is that really safer?

So which one do you prefer: losing funds in a $5 wrench attack, or losing your life? Both options aren't desirable.
Bitcointalk uses this 3-of-5 multisig setup (https://bitcointalk.org/index.php?topic=155000.0) to hold (substantial) forum funds.

I've never found the perfect solution for my own keys, there's always the trade-off between the risk of losing access by myself, and someone else gaining access.

Did you mean "decryption keys" instead of "encryption keys"? If so: it looks to me like the opposite is true: P1 and the person holding backup key B together have all the information to decrypt the backup key, which gives them all they need to steal the funds.

Allow me to edit this statement: If P1 doesn't die, the person trusted by P1 can approach P2 and ask for the encryption key. If P2 agrees, they split the money. And you wouldn't even know if it was P1 or his "trusted" person who made the deal with P2, they'd both have plausible deniability! At least with a 2-of-4 multisig where the person trusted by P1 holds a different (encrypted) key, you'd know for sure who signed the transaction stealing funds.

https://i.imgflip.com/5dwss2.jpg

Maybe it's worth looking into how exchanges handle this. They've lost many Bitcoins in the past, but seem to have improved their setups nowadays.

Shouldn't those open positions show up under Open Orders? If not: where can I find back the details to those open positions?

That would help :)

So that explains my confusion: if "positions" are different from "orders", they should show up in the list under "Open Orders".

Sure, you know where to find me.

Confirmed, thanks.

On what exchanges are you planning to list your token?
I guess if this token would have some real utility on your website than it would be ok, but most of the tokens we see in market are totally useless so I am always a bit skeptical about them, but thanks for sending some btc ;)

I just deposited around 13.7 testnet mBTC in my account, and my suggestion is to add optional generating of new addresses each time I am sending new deposit.
It is much better for privacy, instead of reusing same address but I am not sure how complicated implementation of this feature is going to be for you.
Think about adding Lightning Network or other options when fees are high on Bitcoin mainnet.

It's working fine now, but I also had automatic logging-off from website like other members reported earielr.
Before placing BUY or SELL order we should be able to manually enter liquidation price, and order should stay in open orders until it's closed, and I would also add Profit and Loss section in left side.
One more suggestion I have is to add 2FA to improve account security.

When withdrawing, can you add the withdrawal address to the confirmation email? That's always a good check.
After clicking the confirmation link, I'm asked to login again (I don't think that step is necessary). My withdrawal is Pending now, so it seems to work. But the Pending amount isn't added to the Frozen amount (I think it should!).

When I open "Trading rules" on the bottom of the page in a new window, I'm again asked to login.

You are right, we should show a warning whenever your request is below the minimum, just like happens when you put 0. We'll investigate what is going wrong with the withdraw confirmation link, thanks for letting us know!


Oh no our exchange went down from 8:40 to 13:55 UTC. Even worse, our monitor bot that should have waked us up in this scenario didn't.

It is up and running again, and we fixed the monitor, so we hope we won't have such downtimes again. We'll also fix the "Contact us" link.


Margin trading is known to be confusing for many people and I'm sure that many other people would have a similar experience. It is really important for us to figure out a way to make margin trading easier and more intuitive.

What happens is that whenever you open an order, some of your balance is frozen as margin for that order, depending on how much leverage you select. For example, if you use 5x leverage to open an order with size 10 mBTC, we'll freeze 2 mBTC from your balance. That's the most you can lose by opening this order.

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

If you instead use 100x leverage, we'll only freeze 0.1 mBTC for the same order. This is the margin associated with this order.

https://i.imgur.com/wUxeR3O.png

When your order gets executed, the margin associated with the order becomes associated with the position instead:

https://i.imgur.com/Wn5TaaI.png

This is the size of your position, and how much margin is associated with it:

https://i.imgur.com/Wn5TaaI.png

https://i.imgur.com/MIxII3F.png

The same value that appears on the "Total Margin" above remains frozen in your balance, until you close the position. When you close the position, you will get more than what was frozen if you made a profit on your trade, or less than what was frozen otherwise. Again, you'll never lose more money than what was frozen: the worst that can happen is you get liquidated and the amount frozen is lost.

The "Entry Price" tells you what is the reference price. So if you have a long position, you need to sell higher than this price to make a profit, and if you have a short position, you need to buy back lower than this price to make a profit. If price moves against and reaches the "Liquidation Price" you may get liquidated and lose the amount frozen.

https://i.imgur.com/9JXms1m.png

Do you this explanation helps? Please let me know whether there is anything else that is still confusing to you, as anything confusing you is likely to confuse to many other people too!


Paradoxically, the less the other key holders care about my own personal well-being, the more secure I am, as long as everybody knows about it (for any high-level criminals reading this old post from the future, be warned that you won't be able to get away with anything unless you can pull off a simultaneous operation in multiple countries!).


Yes, I meant decryption keys. Let us define P3 to be the person trusted by P1 who holds the encrypted copy of key A, and P4 to be the person trusted by P2 who holds the encrypted copy of key B.

You are absolutely right about the plausible deniability problem. If P3 teams up with P2, that is indistinguishable from P1 teaming up with P2.
Being P1, I don't worry much about this scenario. At least in my perspective, I have people that I can trust very much, and the problem is finding someone I can trust that won't be giving the funds as ransom to save me from danger. But if this arrangement makes people feel unconfortable to deposit their funds, we can find another solution.

One possibility might be to have a 4-out-of-6 multisig with P1 and P2 holding 2 keys each, and P3 and P4 holding 1 key each. What do you think of this idea? No four keys are in a single continent, and we can know for sure who signed a transaction.


That would be great to know, but I can't find enough information about it.


You can find all information about the position here:

https://i.imgur.com/oLsq4ig.png


Yes, agreed, we'll work on that!


We'll be giving a lot more information about our future TICK tokens whenever we start preparations for our ICO. But we can tall you now that we'll be using some percentage of the net revenue to buy back tokens, traders will be incentivized to hold tokens in proportion to the volume they make to get fee discounts, and holding tokens will also be needed to get maximum referral bonuses.

Hopefully we'll be able to give investors confidence in our project and in the team to make it attractive as an investment. We plan on competing heads-on against major exchanges like FTX and Binance, so raising money will help us grow in future.

I must say however that growth and fundraising is not top priority right now. Rather, the most important thing is getting our product to work well, making it easy and intuitive for users, achieving product-market fit, validating market hypothesis, etc. We'll move to full-speed growth mode once we are sure that users really like our product and once we can establish that the expected value of new users is consistently higher than the acquisition costs.


Nice! Multiple addresses is in our to-do list, as is LN and other channels. In the future we'll also try to establish channels with other exchanges so that margin can be transfered immediately in between exchanges. This would help arbitrators quite a lot, because they hedge positions in different exchanges, and today they are often overcollateralized. They fear getting liquidated in one exchange even while making profits at another. But it remains to be seen how open big exchanges are to this idea.

In the long-term we also want to move to a hybrid model in which we allow decentralized custody in smart contracts while maintaining centralized orderbook and matching. We think this may provide most of the benefits of decentralized exchanges while allowing much more liquidity.

This may also allow US citizens to trade with us without legal problems on our side, as according to US legal interpretation we only have to be regulated as futures exchange if we are holding the users' margin as guarantee for trading.

I'm afraid we may let you down with our privacy commitments, though. While ideologically we are totally in favor of private transactions, for several reasons we don't want people to use our exchange to mix bitcoins. We may actually do the very opposite and publish all transaction data allowing anyone to link withdraw and deposit transactions, so that in some sense your account is just like a set of public addresses in the blockchain. By doing so we can counter the argument used by governments that exchanges either have to require KYC identification from all users or else they are complicit in money laundering.

Of course, users will be able to mix their incoming and outgoing transactions if they want! I see some exchanges (like Binance) harassing their users for depositing from or withdrawing to a mixer. That is totally unacceptable in my opinion.


Fixing that is top priority right now. It may take a few days but I'll let you all know once it is done.


You can see Profit and Loss in the "My Trades" tab. Users selecting their liquidation price (and therefore leverage being chose automatically) seems like a very good idea. We are designing a new interface to let users define more easily how much money they want to risk, at what price they want to close their positions and take profits, and so on. This may take quite a while, though. We have a very small team right now.


Also on the to-do list! We'll get that one done before we launch with real bitcoin.


Great idea, we'll be sending withdraw address in the confirmation email. Logging in again is indeed not necessary.

Your balance should be frozen for the withdraw. I'll see what the problem is!

Edit 1:
We found the withdraw problem, and we are working on it.

Edit 2:
Our market making bot is currently having an issue. You may not see the prices updating as you would expect. I'm trying to get it fixed.

I also noticed that when I log in after some time my dark them is all messed up and it is half light and half dark.
Like I said before, many people don't have a clue what they are doing with futures trading so making good tutorial and instructions is must have feature for your website.

I understand that and I don't expect total privacy and private transactions on public blockchain like Bitcoin, but I don't think that publishing all withdraw and deposit transactions will help you with US regulators.
They want strict regulations connected with identity of the person and their documentation, so even some dex exchanges have issues with them.

There aren't many people I'd truely trust with a large amount of money. I mean, how well can you really know someone? Finding someone who wouldn't save you is the easy part ;)

That makes it less likely for P3 or P4 to strike a deal, but makes it more risky to recover the funds when needed. Say P1 dies. Now P2 needs both P3 and P4, while P3 only trusts P1.

That would be very, very bad! I've never seen any website that publishes all transaction data, and within EU it could even be a GDPR violation.
I assume any exchange keeps trade and transaction data forever, and if they ever need to provide it, they can dig it up.
TL;DR: don't do it. You'll scare away your customers.

I don't think any government would accept your "counter argument". If you fall under a certain government's jurisdiction, they can already demand you hand over transaction data. And any government that doesn't have jurisdiction shouldn't necessarily trust any data you provide.

It will be a centrally controlled database, meaning you can put anything you want in there, so anyone accused of anything could just deny it and government won't have conclusive evidence. Or you could be bribed to change something.

---

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I wanted to test it, but I now get this:
Login Error: We cannot find a valid account with this credentials

I think we indeed have a bug related to half light and half dark themes, we'll investigate. Thanks!

And yes, we are working right now on making it simpler. We'll do a tutorial eventually, but for now we just want to make it easier and more intuitive.


I think we can use the scripting language to achieve the same effect without having one person holding multiple keys. So funds might be moved with the following combinations:

P1 + P2
P1 + P3 + P4
P2 + P3 + P4

Also P3 and P4 can have encrypted key backups so that funds are not lost in case P1+P3 or P2+P4 die at the same time. It seems really unlikely that P1 and P2 will die simultaneously, and it also seems really unlikely that the backups for both P3 and P4 are compromised simultaneously, and even so one of P1 and P2 would need to sign such a transaction.


Thanks for the candid feedback. Just to make things clear, we would never publish personal information (emails, etc). What we would do is use email + some random salt to generate a hash for each user and then, for each incoming deposit or withdraw, we would publish this hash. So no personal data involved! (and no GDPR violation for sure)

That would be somewhat equivalent to you geting your withdraws from the same address you used to deposit. Maybe you are right and this is really a bad idea, but I don't really understand why someone would be scared by that.

One reason I thought this was OK is because in the long-term I want to make our exchange work with decentralized custody. Fully decentralized exchanges have a lot of problems with latency, front-running and large fees (or spreads) that are really hard to solve. So I think we can get the best out of both worlds with centralized order matching + decentralized custody and setlement.

In this model, traders would make deposits and receive withdraws from smart contracts, and everybody would be able to easily link deposits and withdraws, so that I why I thought this lack of privacy would not be a big issue for most users.

After this explanation, do you still feel that this is a bad idea? If so, can you elaborate on what exactly do you think is bad or will scare users away?


We would publish that daily (and maybe even save the hash in the blockchain) so we would have no power to change history.

Also, we if wanted to publish daily balances we could have a full proof of funds! Everyone would be able to check that we have as much funds as the sum of all balances because everyone would be to see the their own balance associated with their own user hash in a public ledger, and they would be able to see that our cold storage address contains at least the sum of all balances listed there.

But again, there are privacy considerations here, so this may turn out to be a very bad idea. We'll not do that if the overall feedback from the community is negative, and of course we would be very transparent regarding what privacy we can offer.


Are you sure you didn't forgot your password? We only store a hash of your password, so we have a limited ability to debug that. We are being able to access our own accounts just fine.

Can you try the "Forgot password? Reset" link and see if it works? This should send you a link in your email to set a new password.

https://i.imgur.com/f4hll8h.png

I can confirm that @LoyceV problem also occurred to me. But a couple of hours later, at the time, I was able to normally log on.

---

I'm retesting the site now and seems a couple of things already being worked on, that seem promising.

Anyway, I noticed there is a reset layout button on the settings icon at the navbar. I wonder what does its functionality? Does it mean you plan to add more trade layout views?

It's still bad: if I trade something with someone, they'll know some of my Bitcoin addresses. If I then use that address to deposit to your site, they'll easily know I use your site (but they could probably figure that out through WalletExplorer.com (https://www.walletexplorer.com/) too). What's worse, is if they can trace all my other transactions to and from your site too, after which they can know many more of my addresses. Not only that, they'll also know exactly how much I've deposited and withdrawn for as long as I've used the site. Exchanges don't do that either. Let's compare it with a bank: it's okay for the bank to see who I pay, but it's not okay to sell/publish/use this data (https://www.rtlnieuws.nl/tech/artikel/4735661/ing-gaat-reclames-tonen-op-basis-van-betaalgedrag-klanten).

Bitcoin addresses could be considered personal data too (although I'm not sure if this would hold up in court).

If it's an on-chain necessity, that's different from volunteering to publish the data.

Yes, it's still bad. It's not necessary, and it reduces privacy. Privacy is great, but the moment you lose it, you'll never get it back.

For proof of funds, I'd stick to the cold storage with a signed message. Hot wallets shouldn't hold a large portion of total funds, and there's no need to proof every last satoshi.

I didn't forget the password. It works again now (same as vv181), without resetting it.

---

---

My (test) withdrawal is still pending (after 5 days). Not sure if that's just not implemented yet.
What's weird though: it shows Amount: 0.00000.

I can confirm this also, after I clicked to withdraw my tBTC I received an email to confirm that action and status on my account is now confirmed , however I didn't receive anything in my wallet and balance on my account is still the same.
Maybe withdrawals are not working yet, but it would be weird that only deposits work and not withdrawals.

I couldn't log in for a while but I'm back on now.

I was able to place multiple orders without closing previous trades with the 0.1 tmbtc test provided.

And so I’m guessing it's safe to assume that the extra funds are provided as margin? If that's the case, shouldn’t there be some kind of warning for users that, they are trading assets with borrowed funds? This could lead to serious problems and debt if not checked.

I can’t find any data in my open orders tray.

The P&L never updates

I still don’t understand the concept behind frozen funds and how it would benefit users.
You’ve done a good job explaining it here, but not many users will check on here. You should have a tutorial made, and even at that expect to be bombarded with many questions.

My account logs out automatically, even when I’m still active.

My general feeling is confusion, but then I am not a pro trader. I have only dabbled in it a few times, but someone well versed  in trading may feel otherwise.

This was indeed a bug. The error message had a wrong description. Problem fixed now!


Nice to hear! I'm editing the original post to list all the suggestions / bug reports and their current state, and also new features that we are adding.


You can resize and move the components around in the trading panel, and this button lets you reset components to their default sizes and positions. By the way, please share your BTC address!


The withdraw had a bug on it and the amount was set to zero. We'll abort this one, and you'll have to make a new one. I'm sorry for that.


Maybe publishing all transactions is a bad idea indeed. We'll try to find a better solution. Either way, we'll always be very transparent regarding what our privacy policy is.


Problem with that is that you don't know how much deposits the exchnage has. I can sign a message with cold storage address containing 100 BTC, but what if the users actually have 200 BTC in their accounts? If we can publish account hashes and balances, one can see that the balances sum up to the amount at our cold storage address.

However, I just had an idea here! We can publish just the root of a merkle tree containing hashes of balances, and just let the user know the derivation path. This way we can have proof of funds without jeopardizing user privacy. :)


We are having a problem in the withdraws, we'll have it solved ASAP.


I'm sorry to hear that you feel confused. Margin trading is really complicated. Our top priority is getting it as intuitive as possible, so that we don't have to explain as much. But yes, we'll have a tutorial eventually as well.

Problem with account logging out should be fixed now!

EDIT:

All withdraws processed! Bugs fixed.

What's still unclear to me (and not intuitive) is what's going to happen when I start a trade. I understand the amount, the leverage, and the liquidation, but I have no idea when a trade will take profit.
Earlier it didn't say "Market" and "Limit", that has been added now. That helps, but I'm still unsure: with Market, I assume the price I enter will be to close the order, is that correct? So if I'm buying now, I should enter a price higher than the current price, and if it reaches that before liquidating, I turn a profit. If that's the case, it may be more intuitive to split the Order field into 2 parts: one to buy, and one to sell. The one to buy shows the Price is to sell, and the order field in which you click sell shows the Price is to buy. (am I making any sense?)

Currently I can't enter a Price for the order, so I can't test anything. Clearing cookies didn't help.
The field looks "unavailable":
https://loyce.club/other/tickspread3.png

It looks okay now :)

My new test-withdrawal shows up as Pending, and the amount doesn't get Frozen.

Made an account and reading through the documentation to understand what this is about. I am not really into trading so this is going to be a learning experience from me.

Reading about the profit calculation, is this website going to be about returning the profits in terms of BTC and not stablecoins per se? If it is so, I think its a great idea. It'd be great if you can include small tutorials about how to use the website. This would be good to onboard newbies like me because the idea of "batch auctions" isn't something we hear about everyday.

If you can provide a bit of hand-holding, people like us will be open to exploring more.

We added the option to create market orders. What this means is that you do not have to set the price. You just select the amount and you click either the buy or sell buttons. This will generate a price at whathever the current market price is.

If you want to select the price of your order, you need to switch to Limit:

https://i.imgur.com/I68yoo5.png


You can see the trades you made at the My Trades, right next to the Open Orders.

https://i.imgur.com/LczEC2g.png

If you buy first and then sell at a higher price, you made a profit and your total balance will increase. Also if you sell first and then buy at a lower price.

Clearly this is not as intuitive as we wanted, but that's what the feedbacks are for!

One thing we learned already is that open positions need to be much more salient. Once you click the buy button (with Market order), you will make a trade, and your position will change as a result. We want everyone to see that immediately.

Probably we'll make it bigger, maybe we can make it flash once it changes. Also, when you close your position, we can make your balance flash green or red depending on whether you realized a profit or a loss.

Maybe we could show your real time profits or losses on open positions! Yeah, we are going to do that :)

Also we may add some "notifications" to the My Trades panel so that you know you can click there to see the last trades you made (including exactly the price you executed at), and same thing on the Open Orders when you place a limit order and it appears on the book.

I don't really understand your suggestion regarding splitting the order fields. Are you talking about "Take Profit" prices? Like, if you are going to buy right now (say at 33,000) do you want to define the price (say at 33,050) at which you will close your position at a profit? If so, we are planning such an interface for the future.

Right now, however, the price you set is the limit price for your order (how much you are willing to buy for right now). If you put this price higher than current price, you will just buy immediately at the market price (not the higher price you set!). Again, you can only set prices on your orders if you are in the "Limit" mode. We'd like to encourage you to try out the "Market" mode: just click the buy button whenever you think the price will go up and once you want to take profit or stop losses you can click the sell button.

You need to keep a watch on your current position. If it is positive you need to sell to close your position, and if it is negative you need to buy to close it. We are also working on an "Open Position" line with a "Close Position" button. You can see your position on the amount field here:

https://i.imgur.com/pzfi6Cz.png


If your withdraw shows up as Pending, you need to confirm it on your email. After you confirm it will freeze balance (if balance is available) and will appear as Approved. You then need to wait for us to process it manully (in the future we'll have a hot wallet and you won't have to wait in most withdraws).


Thanks for trying out! Yes, all your profits will be in bitcoin. So yes, it is kind of a funny trade because you can 'buy' and 'sell' bitcoins and you get more bitcoins as profit. For now, of course, and until we are confident enough to launch with real money, your profits will be in testnet bitcoins.

We'll have a tutorial eventually, but first we need to understand much better what the challenges for new users are, otherwise we won't be able to create a helpful tutorial.

Nice to see you are reading through the documentation! Please let me know if there is anything that is unclear or confusing. Our exchange has several unique features, from the logarithmic contract to the fee structure to the auction mechanism. This is quite a lot to explain, and we want to make the explanation acessible.

Our batch auction mechanism should not be something a new trader has to worry about. Rather, the experience should be very much like that of other futures exchanges.

Certainly there is quite a lot that is very confusing right now. Believe me: if you feel confused, that's our fault, not yours! If you can give us feedback regarding what your impressions are as a novice trader, that would be awesome. If it is your first time at a futures exchange, that is great as well: futures exchanges are known to be confusing for new users, and we'd like to change that.

New market orders are working fine for me and I received my pending withdrawal that was probably manually done, so the question is would withdrawals in future with real Bitcoin also be manual or automatic?
And what happens in situation if you don't have enough Bitcoin for withdrawal? Maybe there should be some proof of funds with reserve addresses or something similar.

Now that you explain it, it makes sense.
I Market Order, and when I try to close the Position I get:
A few minutes later I got a Server Error.

In retrospect, it doesn't make much sense.

This would be nice indeed.

I did :)

This didn't happen. I'll try again when the site works again.

I'm able to reproduce the market order server error. Also, it might be contains more bugs.

On my side, sometimes, my active/filled order doesn't automatically listed on the My Position, it only gets added after I'm refreshing the page.

Another thing is when I just successfully make an order, then immediately close my position, It doesn't close my position instead whenever I clicking the button it just makes a new order.

Furthermore, I notice on the withdrawal page if I hover the date on the withdrawal history, it shows the timedate of the withdrawal right? The problem is if I hover it, the whole text table position is adjusted, it might be good if you just adjust the withdrawal time text instead of the whole table.

Also, when I switch to the Limit order, the price input is empty. I tried to click the price on the order book, but the price doesn't automatically inputted. The price I click only showing if I switch to market layout then reswitching to the limit order again.

I just barely know that, did I missed that or you just implemented it.

That seems nice little detail, +1 ;)

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BTW, here is my address: bc1qelru52aa66fthgk4cmu7z366rxv0xazaykq6m4  :)

If you don't have enough bitcoin the withdraw will fail after you confirm in your email. In the future withdraws will be mostly automatic (except for very large ones or if our small hot wallet runs out of money).


You triggered an UI bug that crashed our system! :P Of course we should never crash no matter what messages the user sends us. Both the UI bug and the system crashing because of it are now fixed. We had downtime of about two hours unfortunately and any open ordens you might had were cancelled.


Fixed some of the bugs: you can now click in the orderbook to set limit price. Also closing the position with the button should be working fine now.

Other bugs are in the todo list that I'm updating in the original post, thanks for the feedback!

Sent you 0.3 mBTC :)

Lol, I did what? O0
I just tried to Place an Order, and once again got:
I hope it didn't crash again. My withdrawal amount is now Frozen. It could be I didn't click the final "Are you sure" after clicking the confirmation link in my email, I didn't expect that button and I had to scroll down to find it.

Hie Kelvin this seems to be an interesting platform. It's much easier to navigate but am not sure if am the only one experiencing this on mobile.
- when I create an order limit it's saying order successfully created but when I go to my orders the is nothing created or any pending trades.
- Also when signing up for an account I think after completing all the details it should pop up a notification 🔔 to check my email for confirmation.
I actually thought my account hadn't gone through until I had to check my mail ✉ box.

Anyone noticed that something is now changed in TickSpread website interface or this is just happening to me?
I see that everything is modular and my window for open orders, my trades and my positions is now on the left side, and windows with balance, deposits and withdrawals moved to the right side of screen.
Maybe there are more changes but good thing is that I can change that, resize windows and make any window order I like.

I have a question, what if there's a whim of chance that someone hit the 100x in your leverage with the mBtc that you have provided, do you have enough bitcoin to cover the cost? Because as you have said in your thread, you are just a start up website.

Yes, it did crash again! We have a very conservative mindset regarding errors, and we'll crash preemptively whenever anything appears to be wrong. In this case, a validation check in the liquidation engine pointed to a bug when it was liquidating your position. You had a short position that was paying funding because of negative funding payments, and these payments should have gradually decreased your liquidation price, but these was a bug on this update, and your position was liquidated later than it should have been.

We tested our liquidation system extensively, but infortunately the funding payments have clearly not been tested enough. It took several hours, but we finally got it working again. I'm sorry for the inconvenience! Please try again, we also have new features now!


Hi Arthur! Thanks for the feedback! We'll work on that. It should let you know that we are waiting for the email confirmation :)

It is also great that you are experimenting on mobile. The mobile version has not been tested as much, so your feedback will be very important!


Nice to see you noticed our changes, we are trying to make improve the user experience! If there is anything that you don't like, please let us know. Also, if you think you made a better panel by resizing and changing the order of the components, please share an image here with us!

Please check our new features: we now have notifications icons on the Orders, Trades and Positions tabs. So for instance, whenever you make a new trade you will see a notification for the trade and the update in your position.


Great question. Yes, we will always have enough bitcoins to pay any profits! However, like most other futures exchanges, we do have an auto-deleverage system. This means that, if you open a 100x long position and price rises too much too fast, causing short positions to be liquidated, and if there is not enough liquidity on the book to close short positions, long positions with highest leverage may be forced to close their positions.

During auto-deleverage, our positions are always closed at a price between the bid/ask. Some other exchanges have badly designed auto-deleverage mechanisms that close positions are a price unrelated to the current orderbook -- this is sometimes called a 'clawback'. We don't do anything like that.

So positions will be usually closed at fair prices (or even better than usual prices if the liquidating positions caused some slippage). If prices move suddenly, though, or if prices move during an exchange outage, highly-leveraged positions may see smaller profits than what one might expect.

For example if you buy bitcoin with high-leverage at $35,000, current price is $36,000 and price start going up really fast and there is no liquidity to liquidate short position, at some point (maybe if it hits $40,000) you may see your position closed automatically at a profit. It price keeps rising after that, you may be disappointed later that your position was closed. But if the prices falls back after that, so you may even be glad we closed your position for you!

Even so, we'll have an insurance fund in the future to prevent auto-deleverage events from happening.

I really thought that my question was a stupid one. Another question I have is regarding this auto-deleveraging system, isn't that kind of interfering with the users decisions? Don't get me wrong, I see the point of doing that but I think the users who do do high-leverage knows what they are doing I guess.

Is it also possible to have an option to instantly close the order than first having the pop up box and then confirming.

I've never seen a service that preemptively crashes when something goes wrong. I could imagine shutting it down, but crashing doesn't seem right as a solution.

When I close a Position, the popup shows: "order created successfully!.". And nothing changes.
I placed 3 orders, each with different Leverage. Still a n00b here, but I would have expected them all to show up onder Positions. It seems they're added together, is that as intended?

Update: I closed the browser tab and opened it again. Now the site is back to the previous layout (with my Assets on the left), and without the overview of open Positions. Are you updating things right now, or did something go wrong?

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My (test) withdrawal is Approved, but not processed.

I can imagine scenario when you could profit a lot with your trade but ''conveniently'' website crashes and you don't earn anything.
This is not so hard to imagine because I think that both Bitmex and Binance had this ''glitches'' before.

I just returned interface to it's original state but I think it's better to remove deposit and withdrawal box and move it to top menu.
Balance could also be seen on top or tab instead of using the box, but you could make this change optional and users can choose what they like more.

Yeah I noticed notifications and other updates and it works fine so far.

No, your question is a great one!

Auto-deleverage is bad, no questions about it, but it is also inevitable in leveraged trading. The best that we can do is make it very unlikely.

Let me give you an example. Suppose we have two users, one buys 1BTC with 100x leverage (with 0.01 BTC as margin), and another sells 1BTC with 100 leverage (also with 0.01 BTC as margin). If there are no other users and BTC price rises 1%, the user with the short position will be liquidated, and we'll have to close the long position at this price. So the buyer will get 0.02 BTC, doubling his money, but won't get anything more than that, simply because there is no money available in the system!

Of course, the exchange itself can pay up for the difference, and that is what an insurance fund is for, but even so the insurance fund may run out and an auto-deleverage may happen. So an insurance fund can at most make auto-deleverages less common.


Good idea! Added to the TODO list.


You are right, we should shutdown gracefully if we have a bug (instead of crashing). We'll add that to our TODO list.


We'll investigate this bug. Also, we have in our TODO list already to improve these popup messages. Currently this only means that we received your request, but your order may not have actually been created successfully. What happens if you try to close the position again?


Yes, this is intended. We only have one open position per market per user, so if you trade with different leverage the position adds up all the margin. Maybe we can do better than that. Would you prefer your positions to be handled (and potentially liquidated) separately? (This would not be easy to change, so I don't promise it will happen anytime soon).


That is weird. Can you send us a picture?


We'll process your withdraw today :)

@dkbit98, I'll write a detailed answer to your post and edit here later!

After i register i spent some time to see funcionality and tabs for trading, assets etc. From my point of view platform runs good. Visual is fine, functions runs without problems. Need more time to put detailed opinion, write what should mention you could change, make better, user friendly and so on. Not bad for first day usage.

One problem with both exchanges mentioned is that, at least as far as I am aware of, your position can be auto-deleveraged at a price that is totally unrelated to the current orderbook. So the exchanges can have "glitches" and all the profit from a position are simply gone, and you may even lose money!

I find that totally unacceptable, and this is not what happens in our exchange. If you have a long position, and the last price before the crash is $34,000, you may get your position auto-deleveraged, but we'll always close your position at a price higher than $34,000. While it may well be that prices rise to $40,000 and higher later on and you don't get the full profits you might expect, at the moment we crashed we could not have possibly known that, and so we cannot "conveniently" crash to deny profits to our users.

In many other exchanges, if someone with a highly-leveraged position is lucky to close its position before the auto-deleverage triggers (maybe by having set a limit order previously), they can get away with their profits while the othere who are not so lucky get their profits stolen from them or even see their trades become negative. So I don't quite think the these two exchanges are hurting their users on purpose, I just think their system are not very well designed. And honestly I can totally understand them, as solving this problem requires having the liquidation/auto-deleverage process running synchronously with the matching engine, which is quite hard to do! It took months of effort for us to get it working, and we have carefully considered this problem from the beginning!


I think you may be right. We'll be experimenting with having the balance on the top. This leaves more space in the position panel, and this may let us show the PnL of the position in real time!


Thanks for the positive feedback! Please come back and trade more :)

If I try to close it again, I get the same popup.
I can use the "SELL MARKET" button though to reduce my margin and reclaim my funds. Amazingly, I'm in profit :)

Doesn't that mean the Leverage gets changed (or averaged out)?
Yes. That way it's more clear what I opened, and it allows me to close them one by one too. Besides, it is what I expected. Then again, I'm a n00b so if my expectations are not the standard, you shouldn't change it for me.

It's back to normal again, so no screenshots.

Okay :)

https://i.ibb.co/k8rPp4t/withraw.png (https://imgbb.com/)

Did your withRAW succeed ?  :D

IP addresses, phone numbers and even device identification are all recognised as personal data with GDPR. Heck, even "appearance" is personal data so a description of my hair, eyes, body etc. are all accepted in court -- from the definition (https://gdpr-info.eu/issues/personal-data/):


In fact, GDPR enforces identifiers to be "as broad as possible" so I could very easily see how Bitcoin addresses would as well -- once they understand the concept of sole custody. I know some exchanges already allow signing of addresses to validate proof of funds, so we're definitely getting there.

I made a deposit and it went through well. I have since made a withdrawal request and it hasn't come through yet.

My withdrawal arrived 2 days ago. Since it's just for testing, that's okay. But on a live site with real Bitcoin, withdrawals should be automated and much faster (otherwise customers get real nervous).

Platform is lagging, can't see ongoing P&L, order pool tabs are confusing, no visual trigger entry/exit markers on the chart, does not store and reload settings, gives me the looks and feel of hitBTC the global scam experience.
Not my key's not my funds this is a disaster in the making.
Especially the inability to close a position that is in profit is one of the worst experiences a trader can have.
Total shit platform.

We'll absolutely implement automatic withdrawals before we launch! It will take some time as we have a lot of improvements on the to-do list, but we'll get there.


Typo is fixed, thanks for letting us know.


Ongoing P&L is one of the next items in our to-do list. I think it might be done next week.

How can the tabs be more intuitive? I see you had a bad time testing our exchange and you don't like it, but negative feedback is sometimes as useful as positive ones.

Visual triggers in the chart are a great idea! We'll add to the to-do list.

What do you mean by store and reload settings? Have you tried reordering components and they went back to default positions?

I understand we don't have the best UX in the world right now but please understand that we are in testing mode. We are absolutely not ready for production, and we know that!


We are actually working right now on a hybrid non-custodial model in which order matching is centralized but funds remain secure in a smart contract. It will in a way be very similar to a channel. Check out this post that I've made on the Ethereum Research forum: High-frequency trading and the MEV auction debate (https://ethresear.ch/t/high-frequency-trading-and-the-mev-auction-debate/10004).


What happened when you tried to close your profitable position? If you found a bug when trying to close your position please let us know!

Regardless of the fact that you really didn't like our platform, your feedback has been helpful, so please share your BTC address here and we'll sending you a tip.

https://i.ibb.co/HpJ6f1n/shit-platform.png (https://ibb.co/x84WtPJ)

I tried to close the position by simply clicking the close button this didn't work.
It piled up more orders in stead of just closing the damn position.
It also was not possible to close those, and now everything is gone.
You successfully snatched all of my funds.
This wan't a bug this is done on purpose i have seen it many times over the years.
Now we will just have to wait until the first 'Tickspread scammed me' topics pop up all over the net.
And then when the heat get's too big, you will just think up some new name, and build a new platform and repeat the same o'l trick.

 

Thank you for the screenshot. It really helps us find out what the problem is. We have three bugs right now that we are trying to solve:

• The website is giving you a "Order Successful" popup whenever we receive your order (at the gateway level) even if we reject it later at the risk engine
• Whenever the rejection happens the user is getting no popup message. In your case, your orders were rejected because of lack of balance.
• Now finally the most important problem, you shouldn't need balance to close a position!

The way to make it possible to close positions without margin is to send orders with a "Reduce Only" flag. All major exchanges have it. These should be the ones used internally when you click on the button to close a position. However, we unfortunately are still working on this order flag, as there are some technical challeneges with implementing it. But be sure we'll increase the priority for that based on your feedback, but this might still take several weeks :(.


You ended up with a position that you couldn't close, and I guess you end up liquidated later. That is our bad, and it is really bad indeed. We'll never be launching with real bitcoin with problems like that, I can promise you.

We'll be refunding your account with some more testnet bitcoin, please come and test more in the future, and you'll see improvements.

Also sent you 0.3 mBTC (https://www.blockchain.com/btc/tx/143a128ebf02bf90ef3ba916bc5f53051d680438160a9ed8f3bd57362b20edee) for the testing and feedback.[/list]

I've seen something similar to your screenshot happen too. I blamed it on lag: if clicking the button doesn't instantly work, it's quite normal for a computer user to click a few more times "just to be sure". It turns out all those clicks still get processed later.

That accusation isn't necessary: OP is paying testers, that makes it obvious they're looking to find and fix problems.

You have a good point though: this shouldn't happen when the site goes live, or it will lead to scam accusations.

The new updated site seems to great and much easier to use especially on mobile. I can now easily see and track my positions. Thanks for adding that option of easily placing a order without additional confirmation. Will keep on testing 👍

Hi Arthur! Thanks for testing! We just released a new version that shows the PnL of the position in real-time. Also, we are trying to make it easier to use on mobile. Please give us your feedback on what we can improve. I've just sent you 0.3 mBTC (https://www.blockchain.com/btc/tx/175857f2fec7b69b9f0fca0f6b6975491b503efa397b789fa292223fe206e893) + 1 merit point for your help. Also you've now been promoted to Jr. Member, congratz! :D

Hie thanks for the Merit and I have received the btc. I noticed today when I try to close a position its giving this error I don't know what's happening maybe you can check. The new layout for mobile is quite impressive I can easily see my balance on top. https://i.ibb.co/dQZ4FD4/Screenshot-20210723-091111.jpghttps://i.ibb.co/crJ5tKp/Screenshot-20210723-091059.jpg

What are you talking about?? The Bitcoin Testnet is literally used by developers to test what it would be like using the real Bitcoin main net, but without the consequences you would have from losing real Bitcoin..

From https://en.bitcoin.it/wiki/Testnet:
"The testnet is an alternative Bitcoin block chain to be used for testing. Testnet coins are separate and distinct from actual bitcoins, and are never supposed to have any value. This allows application developers or bitcoin testers to experiment, without having to use real bitcoins or worrying about breaking the main bitcoin chain."

OP is using the Bitcoin testnet for exactly what it was intended for.

Hi atomicarthur! Sorry for taking this long to answer. We have deployed a fix to disable the "Close Position" button in the position panel whenever the position is zero. That should fix the problem you've mentioned.

We are now working on adding IOC and reduce-only orders, fixing the problem of stuck positions mentioned by BASE64. Thanks all for the feedback.

Can I set a price to automatically close the contract?

Hi just used TickSpread today, noticed a couple of things that made it difficult for me to use.

1. When I tried to put a buy limit order the error message does not pop up long enough for me to see what changes needed to be made it's up for like 3 seconds if you could change this to something like 10 seconds would be so much better, see following image: https://ibb.co/DMBLt0V

I am still learning about trading cryptocurrencies so once i learn more about whats going on I will give more feedback

Email:harishhh_c@outlook.com

• Reordering panels is extremely choppy and 'grabbing' is way too sensitive when using mobile device.
• Users should be in control of how their balance is displayed. Eight decimal places to the right of one whole Bitcoin is my preference. Many find the mBTC display confusing.
• Any platform handling money of any kind should encourage users to employ two-factor authentication on their accounts from the very first time they sign in
• We would like the floating PnL to be reflected near it's respective range in the right-hand index of the candle chart, and updating in real time. There should also be static marker(s) there to note the open position(s)
• Using mobile device, the margin jumps away from intended position at the exact time of call/put.<<<<high priority
• If you could do one or both of the following: reduce confirmation requirements to one, or eliminate by implementation of lightning network, this would greatly improve UEX. ......edit ~20min laterBeyond 2 confirmations is super overkill. one is enough. Still waiting.

I'll return with a conclusion to this trial. I hope this information is finding you well with a demand for it. Salut!BTC

Thanks for the feedback! We will put those in the to-do list:

• Improve reordering of panels in mobile
• Allow users selecting their preferred unit/precision
• Showing PnL and position on the right side of chart

We are working on improving security, and to make it easy to deposit. Agreed that several confirmations take too long.

One thing I did *not* understand is the margin jump from intended position. Could you explain it a little more?


Thanks for the image!! Agreed with increasing the popup time. Regarding this specific error, we can do even better and prevent users from typing invalid prices.


You can with automatically close at a profit with a limit order. We are working on implementing a stop loss.

If I set margin leverage to 25x, for example, the very moment i tap the 'buy' button, it will jump to another higher or lower position on the slider before placing the order. In real-world Bitcoin trading, this has the potential to ruin someone's day, along with their impression of your exchange.

Feel free ;D 1EVFfrargH7HXMipJxiBxD8fo3xL8wrLVR

I've just returned to evaluate your site with newly deposited testnet coin.
You can expect a comprehensive report by 10:00 pm. server time Aloha! ₿

Sent 0.3 mBTC (https://www.blockchain.com/btc/tx/c838c08d26e5f65ff1f9825f82ddc7fe855d993e61dd15e41b204399b1d5d072)! Waiting for more feedback in your report!

Tested TickSpreader, here is my some of my critique.

https://i.imgur.com/bmByJgV.png
The dark mode contrast seems too far dark.

https://i.imgur.com/c25y2Tr.png
Balances appear to be buggy for the first 15-30 minutes upon initial login.

https://i.imgur.com/02GCNsL.png
Request and confirmation is smooth.

https://i.imgur.com/ZjykTMB.png
However in the next update, you should be able to provide TXN ID of the transfer. Since this is still in beta, the email confirmation is good touch. If you could add 2FA that would be even better.

https://i.imgur.com/IxFUEqg.png
For the first couple of minutes upon initial login this error seems to persists. I wasn't able to buy/sell within my testing hours, will try again tomorrow.

https://i.imgur.com/4hdqCES.png
I've sent some tBTC to the deposit QR/Address. However the balance only reflects after 6-8 hours.

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

https://i.imgur.com/BLCnMCq.png
Time stamp should be included together with the Date. Deposit history seems to be working well for tBTC.

https://i.imgur.com/KHToeku.png
It shows false password update. Not even close to account creation. At this point it should be accurate if the sign up button works and email confirmation.

Hi Clairvoyance, thank you for your feedback. Sorry for taking this long to answer, we now "resurrected" this thread. Please send us your address and we'll give you the promised payment for the testing.

We made several changes over the last several months and I think most of your points have been fixed already! Website is totally different now, please check it out. :)

Edit: sent 0.5 mBTC!