Bitcoin Forum

HI everyone, we are btc38.
Here is our address http://en.btc38.com

We are open to receive good idea about how to operating an exchange.
If there is a good essay, we will translate it into chinese and publish it on our main page www.btc38.com

What's your opinion about following question:
1, If you were leader of exchange, what will you do facing so many coin?
2, It is wise to do voting?
3, what trait do you think a good coin should have？
4, what would you like to say to chinese?
5, what should we do will attract you do transaction on our website.
etc.

Please vote for us at https://bitcointalk.org/index.php?topic=717419.0


Please don't reserve your view. :) you can write down your precious advice, viewpoint or any question you want to know following this thread or send to support@mail.btc38.com
Let us get things better and better.
Thanks all for supporting us.

I think that voting is a bad system, it's open to gaming or Sybil attacks. Rather make the decision to add coins yourself, and be fussy about it.

For instance: if you stick to coins that have been around for at least 3-6 months you will already full out a lot of pump-and-dumps.

I think you should take a look at BTC-E ;D

Imagine that only your Family and Friends would trade at your exchange and then think about everything else.

We are open to receive good idea about how to operating an exchange.
If there is a good essay, we will translate it into chinese and publish it on our main page www.btc38.com

What's your opinion about following question:
1, If you were leader of exchange, what will you do facing so many coin?
2, It is wise to do voting?
3, what trait do you think a good coin should have？
4, what would you like to say to chinese?
5, what should we do will attract you do transaction on our website.
etc.

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Firstly just want to say BTC38 (and others like it ) are important trading points for the developing shift of crypto from the "Banker" "inside market" to the global expansion that it has had and will inventively have.

So as you may know its always been my opinion that  cryptocurrency will be the domain of the "BRICs" due to the fact that a lot these nations are :

1. Not receiving policy from Banks - i.e the the nations are not run directly by banking institutions, it is usually at best a power share operation or the like.

2. Tax code is much simplified in "BRICs" nations usually relying on  sale an VAT or flat taxes this shifts the burden of regulation motive, and this is why Crypto will always be hampered in the "West" see these recent regulations in the US etc.

3. Currency and exchange rates - "Reserve currency" "BRICs" nations have been on the "development side" of the world for the best part of 60 years, this means that if their currency free floats it is often at a rate lower than the Bank run nations of the "West" and if it is fixed then it is often Pegged below such as the RMB -

what this means is the "Brics" nations have "less to lose" if they issue a Crypto parallel to their own or let a Crypto integrate into society, the "West" stakes everything on its unit of exchange, because we have moved so far away from "economics" the the idea of "production" we think has become irrelevant.

all this adds up to the fact that BTC38 and exchanges like it will in the future expand as others contract.

now to your Questions

---------------------------------------------------
Answers for

Question 1.

- Facing so many coins look at the obvious spam I understand this is a business but quality is going to play a part also.

- understand that at a point "more currency" is going to depredate your reputation unless there is significant way in which you can  allow users to "Hide" or "turn off" from view the ones they don't want to see.

- Business is Business but reputation means a lot in this industry -



Question 2

voting is relevant because this adds a real "cost" to the crypto - for example if i was the NXTG scammers or other IPO scams i have done everything at zero cost -

so for example if you have voting and make it in CNY - anyone can transfer Crypto to a crypto listed there and then buy CNY to vote on a currency.

What just happened?

A - Well you know that the people that voted on the currency have an account because
B-  they had to log in and transferred a crypto to CNY  on your platform.
C- this means then that there was a cost and it doesn't discriminate The cost was in both Time and a small amount of CNY
D - so you make a vote work XXX CNY - a fairly low cost

but look what had to be done to achieve the vote THIS is the important part about voting.


Question 3


If its Pos there had to be a long PoW - period .

IPO's are dead in the water.

should have an EQ reward ( but not essential)

- Premines and etc are obvious fraud

but a lot of it can be eliminated with the vote design i outlined.


Question 4

I've mostly said it except to say - I'm Australian i know what's happening. : D

also if i go to  : http://www.btc38.com/  - so follow me here...

if i'm just a Western user  i'm going to:

1. go to the browser
2. punch in http://www.btc38.com/
3. and arrive on the page

on here there is nothing that give an English speaking person any indication that there is an English version of the site -

you need just a button that says  "Click here if you are English" (or like) and then everything changes to English.

this simple improve might boost your English speaking users a lot.


Question 5

Some of the simple things i outlined - including a few design changes - but the big one have a "ENGLISH" button right on the front page there.

do voting make it in CNY - make people have to log on make an account and transfer CNY to their CNY   account then buy votes with that, this incurs a cost in both time and money

it may give preference to account holders that already hold CNY - but that's after all the point as you are a ha ha Chinese exchange if people want to vote sign up !

You are right, most of the votes was rigging and those people want to sell out their owning immediately.
What aim we launched the voting system was trying to attract others who are not our customer.
But it seems not work. Mintpal voting system is warning to us.
We will reconsider it.

This is a good suggestion, reserved. :)

I didn't know you have an english version of the site. lol

So, the english one doesn't require to login with QQ, but with Facebook? Is there another way, I just don't like the idea of using facebook to login and possible giving my personal info from it.

You should use coins that are in the top 50 and/or have a voting system that has a vote and have people explain why they voted for the coin.

so, btc38 is the leader of exchange  ;)  unfortunately, I had not use it since I have onlt few altcoins  :-[

1) Tough question !
If i was leader i would just try and stick with coins that have higher quality over popularity.
It should be obvious for *most coins that come out which are good and which are bad.
Adding too many is not good it make everyone look bad and dilutes the Altcoin scene too much.. watered down volume(s) :(

2) I think voting *might be ok if it was done differently than it is now..
I don't think anyone has done my idea yet. And my idea is,
have voting for new coins but only allow each user account 1 vote each for each coin ..no more !
and never charge any fee for the votes either.

3) Communication !

4) What do i want to say to Chinese ?
I don't know.. maybe lets try and work together more ?
We are all one people on earth.. no borders.. this is a great thing about Crypto coins (the international aspects to them)

5) Tough question lol
Do a good job and communicate fast to clients if problems happen (Communication)
Also if that guy said we have to use Facebook ? The you should get a normal login method.. Facebook sucks !
Oh and add JackpotCoin to your exchange LOL

i was wondering how come you do not add Karmacoin. https://bitcointalk.org/index.php?topic=579973

in approximately two days it will hard fork into X11 algo thanks to dev HiroS!


so in two days this coin will have the algo that is favored in Chinese miner world.

Not to mention the self sell name ; Karma    

Buddhism is the way of life for most Asian countries Karma Coin mission is to follow the path of rewarding those that do good!

First off, no to voting, this is a dangerous thing for exchanges to add because it is subject to false votes or terrible coins just paying for listing their coin. Another point is that for an exchange to be successful they cannot just add proven coins because by then it is too late for the exchange to really get in on that coin's volume most likely. So, coins are forced to add new and unproven coins if they ever want to stay relevant. What we would do is vet devs, and force them to complete some kind of form which reveals a ton of information of them and their coin. Also, coinssource is starting a dev trust index where coin devs are assessed a trust score; utilizing sources like that can be pretty handy. In the end, exchanges will list some unsuccessful coins, and probably even some scam coins, but this industry is just beginning and will have some bumps. The real work required should be of traders to do research. We are launching our coin soon, and we would expect anyone looking into investing to read our whitepaper which will be available at launch when we post our ann. This is how investors will clearly know our goals and our coin's features. Without knowing those points, and monitoring a dev's level of commitent to his coin and the community, someone should not invest.

Btc38, please contact us if you would like to discuss specific ideas for which coins to add and how to vet coins.

please add Credits CRD https://bitcointalk.org/index.php?topic=634403.0

You know, I've always considered you to be a dumbass, pushing "jackpotcoin" in one breath and then demanding that people justify the reason for creating their coin in the other, but this is fucking embarrassing for you. I think you should close your account and leave Bitcointalk if you're going to suggest such stupid fucking ideas.

Any voting system that requires you to "just create an account" for a vote is easy to break. Just create multiple accounts! Email verification is trivial to do, and you can buy email accounts by the tens of thousands on BHW and elsewhere. For an exchange to combat this they'd have to make it progressively harder to vote (must have traded above a certain amount, must have submitted KYC / AML documentation) which also makes the exchange progressively more undesirable to users.

This isn't advanced cryptography. This is basic fucking logic. Bragging about your "idea" just proves how utterly beyond saving you are. Morons like you should stick to philosophical discussions on Tumblr than spew your particular brand of retardation on us.

I think if you added Plankton (FOOD) (https://bitcointalk.org/index.php?topic=673734.0) to BTC38, it would help people trade for longer  ;D

Bittrex recently listed USBcoin, but it was a scam with extra coins hidden by clever coding tricks. If Bittrex had looked at the coin's source code before listing it they would have seen it was a scam. It might be a good idea to review source code before listing a coin, if you don't already do it.

We will develop another way to login ASAP.
Our voting system is try to attract more people get invo involved, it is not good to set limit like top 50.

thanks for your precious views.
For 2,
If we allow user only have one vote, they can register more account to vote.
If we forbid new account, other would not visit our website.
It is a mind-bending problems

We will pay more attention on communication.
Thanks.

Here is my "philosophical" interpretation of your lippy bitch verbal diarrhea ;)

lets get it into shall we ;)

First off in response to your first point..
You are who ?
Maybe i would think your a dumbass also but well uhhh.. your a nobody lol
so STFU your opinion means squat.

and i never demanded anyone justify their coins existence.. it seems the exchange are.. it's their job !
so what does that have to do with me ?
and there is nothing wrong with Jackpot coin either i don't get how your implying something negative about it.
i would not support a bad coin ;)

kinda funny how in the last year random nobodies have come out of nowhere to troll on me..
wouldn't have anything to do with corrupt scammers i have exposed would it ? hmmmmmmmm LOL
I guarantee 100% your cowards, chicken shits who i know as other another user name like iGotSpots or other lying scammers
or even Crypty back room boys and their scammy cunt mod staff or other misc scamming faggots in this scene i have hand their ass too :)
You guys are little TROLLING pussies.

And you wanna hear the definition of dumbass ?
in response to you claiming "MY" voting idea was dumb i say,
Your retort on that is the logical equivalent of saying "hey why bother trying to contain the ebola virus ?"
after all it only kills *some people and only *some people get infected.

THAT is tired ass stupid crypto-broken-logic repeated in this Altcoin scene endlessly.
you guys REALLY love tacking that one onto just about everything around here.. LOL @ U
the whole you can't stop everyone, so lets not even try logic.. ya your sooooooo brilliant  ;D

And i was not bragging you were reading in between the lines..

i said what i said to make it clear for starters because i did not know if the OP has a masterful level of English.
and secondly i said that for a reason.. in case it had been done before i wanted to say i had not seen or heard of it being done
and so if it had and it had failed then please someone speak up and let me know.. was the point.
And somehow all you got out of that is i was bragging.. sorry but you truly are the dumb one here LOL

You don't have a good grasp of reading comprehension clearly.. the "add JackpotCoin" comment was clearly a joke ..at least to smart people.

I don't know even know what Tumbler is really LOL
I don't use faggy Social media shit of any kind..
I leave that gay shit for blow-hard's on Bitcointalk and women and children.

Bottom line ?
I am the smart one here so deal with it.
And try better next time because you troll-fail kid.. i just made you look like a fool and laid out my 1,034th troll  8)
No Troll on the internet has ever gotten one over on me.. i take all comers and lay them all out !
me = 1,034 KO's and all of you = don't make me even break a sweat.. i am bullet proof !

you want to talk about being embarrassed ?
YOU should be, because i pointed out how you had no idea what i said earlier and how you made yourself look like a fool.
Work on Reading comprehension.. it will allow you to up your troll game ;)

*diarrhoea
*you're
*you're
*exchanges
*you're
*Kind of
*you're
*Cryptsy
*handed (?)
*been done before,

Now that we've cleared up your utter inability to use the English language, let's deal with your utter inability to understand basic logic.

Somewhere in the word-vomit you imagine made me "look like a fool" you had this bizarre analogy with containing a virus. I have no idea how this is relevant, so I'm not even going to try. Your AMAZING and UNIQUE and SPECIAL system that you think has any value whatsoever has a major flaw that I pointed out. Is this a new flaw that nobody has ever thought of? Nope...this is a well known issue. I'll quote a Wikipedia article that has the most basic of information (http://en.wikipedia.org/wiki/Sockpuppet_(Internet)#Ballot_stuffing) - "Sockpuppets may be created during an online poll to submit multiple votes in favor of the puppeteer." Seriously. It's the most basic use of sockpuppets online. This is not magical fucking mathematics, this is basic logic.

My Jackpotcoin comment had nothing to do with your comment up-thread. It had to do with you whinging about how all the other altcoins on the planet are bad, and yet still supporting a piece of fucking shit Novacoin fork that offers nothing revolutionary and no reason to even exist in the cesspool or shitcoins. You're an embarrassing hypocrite to any altcoin or service  you support.

Incidentally, I think Cryptsy is a piece of shit, and I refuse to use it. You're barking up the wrong tree, fella. I just think you're a retarded fuckface and felt compelled to say so.

Wow ya got me i misspelled some words ..there is your smoking gun i am a horrible monster.

congrats on having a foul attitude and derailing this thread with clear Trolling.
I am sure the OP appreciates your behavior here.

@OP
I am sorry for what has gone on here on your topic and i will try and get this to die down so you can get on with your topic.

i guess if a guy doesn't like me then i deserve to be trolled and attacked and insulted ?
All i did was try and answer the OP's question(s)
no idea why this wacko came out of the wood work to have a go at me..

The smoking gun is your utterly moronic idea of "1 vote per account". Your inability to spell was just icing on the already sizeable cake.

You're quick to throw the word "troll" out when you miss that I'm not trolling you, I'm calling you out for being of average intelligence. This alone destroys any shred of credibility you thought you had, and cements what everyone else knew about you already. And incidentally, I don't dislike you, I just think you're a jackass that has no room to speak.

Now don't get me wrong: there is nothing wrong with being average. However, it does matter when you're all up in everyone's face telling them that their coin is shit - even when I agree with you in perhaps 90% of the cases. If you want to call a coin out you'd better make sure you're unimpeachable...and you, Spoetnik, are far from that.

I therefore reject your previously expressed notion as being both moronic and ironic: "I am the smart one here so deal with it." Right.

suggestions and updates added on my reserved reply !

lol i am curious ;)

i seen you reserved your spot hahaha

I don't think this is a workable solution. Not only will this put downward pressure on their cryptocurrencies against CNY, but it is not impervious to Sybil / sockpuppet attacks as mentioned further up in this thread. It's also no more progressive than MintPal, who require you have actively traded a minimum amount before you can vote (albeit with a removal of the paid voting), and as you may or may not know, the MintPal voting system is already successfully Sybil attacked on an ongoing basis (https://bitcointalk.org/index.php?topic=639308.0).

btc38 already agreed that this is unworkable:


Elsewhere in this thread someone mentioned something to the effect of "making it harder to vote makes it harder to use", which is also true. If, for example, you use GPG as a way of reducing identity, you make it substantially harder for non-technical traders to vote, but you don't stop someone clever from creating thousands of GPG keys. Right now there is no solution to this - Intel tried to solve this by baking an RSA key into their TPM module that all business laptops have, but that is years away from streamlined integration into a browser, and even then it's problematic because some ethernet cards come with a TPM module.

btc38..imo you should add more coins .

I think you are missing the point and not thinking outside the box :

1. only list crypto that meet a set of specific regulations

2. then open voting.

you are confused re CNY it would provide zero pressure on any crypto.

- user logs in

- user trans crypto to CNY (any they chose in the current crosses)

- user puts in a bid on a crypto

regarding multiple accounts who cares its irrelevant, if they really want to see it list so bad and its passed the (scam test ) more power to them .

[quote author=digitalindustry link=topic=716301.msg8134671#msg8134671 date=1406894I think you are missing the point and not thinking outside the box :

1. only list crypto that meet a set of specific regulations

2. then open voting.

you are confused re CNY it would provide zero pressure on any crypto.

- user logs in

- user trans crypto to CNY (any they chose in the current crosses)

- user puts in a bid on a crypto

regarding multiple accounts who cares its irrelevant, if they really want to see it list so bad and its passed the (scam test ) more power to them .
[/quote]

Selling any cryptocurrency for CNY for the purpose of voting puts downwards pressure on those cryptocurrencies. It may not be measurable or relevant at first, but when someone dumps a crapload of coins so that they can vote for the next coin they've mined at low difficulty the market will feel it.

btc38 has already pointed out earlier that they won't look at voting systems that can be Sybil attacked, so it is relevant.

Selling any cryptocurrency for CNY for the purpose of voting puts downwards pressure on those cryptocurrencies. It may not be measurable or relevant at first, but when someone dumps a crapload of coins so that they can vote for the next coin they've mined at low difficulty the market will feel it.

btc38 has already pointed out earlier that they won't look at voting systems that can be Sybil attacked, so it is relevant.
[/quote]

i totally don't know who you are but you are missing the point ..

yeah so if someone sells a currency to "vote" on another so what? that's called "the free market"

and then someone else might come and buy it, thats also called the "free market"

and its all volume for BTC38.

Sybil argument is irrelevant.

you sound like someone that might be scared that vote spamming will be more difficult?, in the end i don't care, there is a lot of spam out there already, but add a "cost" to vote and you weed a lot of it out.

Develop a set of criteria that a coin must meet in order to be listed, and publish that list of criteria. Also publish conditions under which a coin will be removed from listing (including fraudulent activity on the part of the developer(s)). Include risk assessments in the criteria (the coin code must be open source or subjected to 3rd party review, premine below some %, and so on). Learn from your mistakes and update the criteria as needed. In short: Hold devs accountable and protect your customers.

Not accepting every copycat coin that comes along may cost you some revenue in the short run, but if you work to protect your customers you will pick up more business over the long run as they leave other exchanges where they keep getting burned.

How about BTC38 vets the coins themselves? Voting clearly does not work. Maybe you guys should hire someone to investigate new coins and existing coins to see if they are worthy of being exchanged. After all, you guys are the ones making all the money. Re-invest into your exchange. Protect your clients and I guarantee you'll be the #1 exchange for a long time.

I suggest that - plus a token vote

the point of the vote was make it in CNY so the user has to sign up and trade for CNY then vote.

vote wouldn't even need to be binding - but would be a guide.

Thanks @digitalindustry @Miso69 @ebliever @fluffypony for precious idea.

We have a criteria to add a coin to our voting system, but it is not very clear.
If we set a clearly criteria, we are worried that many coin will try everything to reach criteria.
While the true worthy coin will not care about the criteria.

biggest reform you can do right now is to fix the front page -

so if i'm an English speaker i go to "google" and search "BTC38"

https://www.google.com.au/search?client=ubuntu&channel=fs&q=btc38&ie=utf-8&oe=utf-8&gfe_rd=cr&ei=sXbfU_HtH8vC8gfK_4CIAQ

click the top link :

http://www.btc38.com/

^^^^^^

Here on this front page there is NO indication that any of this site is English

You need a big Button< that says    "English here" ( with an English flag)

and then where its clicked (POW!) the site is in English - this will boost your English speaking customers  !

because they speak English, and wear Hawaiian shirts in winter.  


https://i.imgur.com/2Y05pk1.png

Ok so that's just an example......