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221  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 06, 2011, 12:54:33 PM
So you will report some transactions to third parties without the user's permission?

FM, this will be a very rare occurrence given that we have the ability to proactively block such dollar transactions.  But in a nutshell, yes this a requirement for any legitimate business.
222  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 06, 2011, 12:48:16 PM

We will look into offering two-factor authentication depending on feedback from the userbase.


Well, it seems your user base is speaking pretty loud and clear...

Your dev team will probably find that doing really good 2FA gets pretty complicated, and using third-party key fobs like RSA tokens is quite expensive.

FWIW, I suggested a "poor man's version" of second-channel confirmation in this thread:

  http://forum.bitcoin.org/index.php?topic=25982.0

This is very easy to implement, and would at least add an extra layer of security while you work on a more robust solution.

Other poasters have pointed to a number of alternatives.  For example, for customers with Android smartphones, there are probably a dozen Droid apps that could serve the purpose (and if there isn't, just whisper the idea into the wind, and it'll be in the Market tomorrow).  Even text messages sent to an ordinary cell phone might be workable.

You'll want to get *something* in place pretty quickly though, just to show that you're a serious player, and that you are responsive to your users.  Thanks for listening!




VV,
      Your idea is a good model for an added layer to authentication for sure!

My only concern is that the user has to be 100% secure at setup time for the crypto-card.   Zero-knowledge protocols like Kerberos may be a good way of over coming this limitation.  Open source Kerberos implementations are also available readily.

http://en.wikipedia.org/wiki/Kerberos_%28protocol%29

We are looking at all options including Kerberos, and will keep you posted!

Thank you,
     Keyur
223  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 06, 2011, 12:36:53 PM
The Depth Table was confusing to me.


Buy Interest | Price
 BTC 1      |  $13. 50
 BTC 4      |  $11.60
 BTC 2      |  $10.00


I thought those BTC N were just labels or something at first.   I didn't realize that was quantity.  e.g., 1+ interest at $13.50

It rounds that down, ... why not list the exact quantity available?

Additionally, I see that you have a ticket / help desk system.  Is that also for these type of issues (e.g., enhancement requests)?




Stephen,
       We have updated the quantity display to show the decimals for BTC quantity. 

You are correct - you can also use the ticketing system for enhancement requests.

Thank you for trying us out,
      Keyur

224  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 10:51:23 PM
I too would like to see a two-factor authentication. I would like it to have a hardware componet such as a smartcard or usb dongle. Im sure most would be willing to pay a reasonable price to buy those, but if you get gready and charge an arm-n-leg it would drive people away. It would also be convenient if you could buy this device with btc.

And one last thing. Analytics!! We as traders want as many charts and data points as we can get our eyeballs on. Without this info adoption of CBX will be slow. Ok, really one last thing this time. Getting trade info on bitcoincharts.com is free advertizing for you. CBX should make this a priority.



Hi Sarah,
        Everyone tends to have a very personalized take on how they prefer to view their analytics, so we ended up taking the road of empowering end-user.  You can do an export of all your trading history in a CSV file, and use software like Excel / Excelcius / Mathematica to run analysis on it.

We are already looking into two-factor and Bitcoincharts!  Will keep you posted.

Thank you,
       Keyur



225  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 10:47:54 PM
In other words, CampBX does not want to be a place for illegal activity!
Sure.
But according to this document:

Quote
APPENDIX F: MONEY LAUNDERING AND TERRORIST FINANCING "RED FLAGS"
http://www.ffiec.gov/bsa_aml_infobase/pages_manual/OLM_106.htm

purchasing bitcoins is illegal, because you don't know where purchased funds are going. In what country do they go?...

So, you have to report every transaction to respective auhtorities!?





I've noticed there hasn't been an answer to this yet I don't think.  Are all transactions reported to any state or government office?


QQ,
      No, all transaction do not need to be reported.  This type of legal requirement would be unfeasible and unenforceable. 

Thank you,
     Keyur

226  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 08:44:04 PM
How do you deal with stolen funds? If the account of a user gets broken into due to something that is not obviously user error, is there any insurance for these funds?



I second this question.

SQ and JoePie,
    If funds get stolen due to any issues on server side, we will stand behind our product and cover the losses.  Any user side compromises of the account will of course not be covered.  You can request stricter limits on BTC and USD transfers on your account to prevent hacker from making away with too much cash.

Hope this helps,
    Keyur

And what if it is unclear where the issue was? For example, when my $200 was stolen from my Mt. Gox account it was impossible to undeniably prove that it was an issue on their side (as all data that was recorded was an IP and a destination address) - however, it was extremely unlikely that it was an issue on my side (as I had a 20 character alphanumeric mixed case password that was not reused anywhere, and did hours of manual analysis on my machine to verify that I had no malware issues). What action would be taken on CampBX' side in such a case?

As to two-factor authentication,  a very basic way to prevent thefts from an account would be by offering two-factor auth through a confirmation email when the user tries to withdraw funds anywhere. A slightly better (but although cheap, not free) option would be sending out texts. A slightly more expensive but still fairly cheap option would be offering a digital one-time pad dongle (much like the dongles and calculators provided by other online banks).

In my opinion the optimal solution would be automatic (free) two-factor authentication for all users using e-mail or SMS (this is likely cheap enough to be covered by transaction fees), and an optional 'upgrade' to a hardware dongle for a one-time fee/purchase.

EDIT: Almost forgot to mention this. In my opinion two-factor authentication is absolutely essential for any serious exchange that acts like a bank to some degree - and from a business perspective of view it would give you an immediate headstart in the Bitcoin exchange market, it being a more-or-less "exclusive feature".

Joe,
      Thank you for the insightful post - we are researching available 2-factor options and implementation costs.  I will keep you posted on this.

As for the unclear-hack issue, unfortunately there is no clear solution there.  We tend to take the southern approach in situations like these, and go based on our relationship with the user.

Thank you,
     Keyur

227  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 07:30:53 PM
How do you deal with stolen funds? If the account of a user gets broken into due to something that is not obviously user error, is there any insurance for these funds?



I second this question.

SQ and JoePie,
    If funds get stolen due to any issues on server side, we will stand behind our product and cover the losses.  Any user side compromises of the account will of course not be covered.  You can request stricter limits on BTC and USD transfers on your account to prevent hacker from making away with too much cash.

Hope this helps,
    Keyur
228  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 07:26:52 PM
More rounding issues - it rounds to 1 decimal place when you place an order.

Place an order for 0.78 and it rounds to 0.8 and throws an error because I don't have 0.8BTC in there. Sad

Edit: then the confirmation page says this, which is clearly wrong:

You are selling: 0.7000 Bitcoins (Rounded to nearest 0.05)

That's pretty stupid and embarrassing...  Was any QA done?  Launching too soon?

I looked at one of the subpages yesterday, and my high-end laptop slowed to a crawl -- seems like there's some impressive bloatware on the back end.  Strike two.

CampBX:  Looking forward to your comments on two-factor authentication and other security measures.  You do understand that you're asking people to trust you with their monies, right?  You only get one shot at earning trust -- if you blow it, it's gone for good.

I do hope you guys come through though, and become a model for other exchanges.  Best of luck.




Vectorvictor,

     We have not been able to reproduce this issue despite multiple attempts.  0.78 rounds up to 0.80, and 0.77 rounds down to 0.75 which is the expected behavior.

We will look into offering two-factor authentication depending on feedback from the userbase.

Hope this helps,
     Keyur

229  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 07:17:06 PM
And that's why I am moving ALL my BTC's to you guys.
Hope you guys live up to the hype !

Thank you Vegetta, and welcome!

- Keyur
230  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 07:13:57 PM
Just created my account, not happy to see the complete lack of support for EU customers.
Real let down.

I know its early days but I really hope you guys sort out EU support soon.

MB, Dsky, and rdonohoe,
     Accepting funds from Europe takes a lot more Lawyer-time and paperwork, but it is one of our top priorities.  Will keep you posted with the progress, and feel free to PM me your favorite methods so we can look to integrate those as well.

Thank you,
     Keyur

231  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 07:10:59 PM
Thank you HBMG and Qikaifu,
      Took your suggestion and increased the precision on Depth Table.  Now it goes down to cents, instead of dollars.

- Keyur
232  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 04:19:58 PM


So the gist of all messages is that frequent traders want more precision!  We are on it, and we will update the configs shortly to allow more precision in Depth tables and order entry.

Stay tuned,
     Keyur


233  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 03:02:24 PM
my dwolla deposit was credited within an hour, that was pretty nice

i now have a standing buy order in place

site looks good

Thank you and welcome Sticman!  Please reach out to us if you have questions or issues, and we will do our best to resolve them quickly.

234  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 03:01:37 PM
I only see a limit on the quick buy section, i.e. the noob buy.  I doub't it is there in trading as many fractions get filled if you place an order extending away from market price.  

I just tried to place a sell order for ~0.07 BTC and it told me the minimum is 0.5. Sad

They also do the nasty rounding every other exchange does. At least in the "home" screen, can see see the full balance down to the last decimal place? Potentially 8 decimal places won't screw up the design that much.

Elggawf,
    It just requires a quick config tweak on our side to show more Decimal points.  We have set it at 4 to not scare new Bitcoin users who are used to 2 decimal points.  However, we will certainly look into a profile options that lets more experienced users see more precision.

Thank you for trying us out!
     Keyur

235  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 02:58:01 PM
The engine flags these accounts for manual review, and we can refuse the transaction or refund/close the account depending on severity.  We are not tied into any of the 3-letter agencies.

But you are legally bound to autoreport those flagged transactions and accounts, right?

Quote
The foundation of our operations is an active and prominent compliance program, and we are committed to maintaining full compliance with State of Georgia - Department of Banking and Finance regulations.

Becoin,
      Our rules engine trips well before the limits set by DBF.  In this case the transactions do not need to be reported.  However if rules engine misses something that we discover in post-analysis, we will run it by our lawyer and determine reporting requirements.

In other words, CampBX does not want to be a place for illegal activity!

Thank you,
    Keyur

236  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 02:38:09 PM
Camp BX looks pretty awesome.  

I am not sure the free trade window will get me to jump in quite yet, but I am willing to put some money over there in the 3+ days it will take for my money to leave Gox hit dwolla and then go to camp bx.  

FYI I noticed a typo on the Margin trading section of the faq.  

Thank you Dinzy - will fix that shortly!

237  Bitcoin / Bitcoin Discussion / Re: CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 02:31:07 PM

Does that mean you are directly interfacing your platform with some of the 3 letter agencies?


Becoin,
     Great question - The engine flags these accounts for manual review, and we can refuse the transaction or refund/close the account depending on severity.  We are not tied into any of the 3-letter agencies.

Hope this helps,
     Keyur

238  Bitcoin / Bitcoin Discussion / CampBX Launch - Free Trades for All Bxlievers! on: July 05, 2011, 02:08:51 PM
Good morning everyone,
   We are happy to announce that Camp BX platform is live for trading!  As a welcome to early adopters and Bxlievers, we are offering free trades through July 15th.

https://CampBX.com/

   A big thank you again to all the testnet participants for trying out the Camp BX platform and sharing their excellent ideas and feedback. Without you, we wouldn't be here!

Three quick notes:
1) You will be charged commissions and we will issue a full refund on July 17th (Sunday).
2) Stop-loss and Margin Trading depend heavily on liquidity, so these features will be enabled when liquidity increases.
3) We have built a statistics-based compliance engine that monitors Dwolla flows and flags potential illegal activity.  We are training this engine and reviewing all USD deposits / withdrawals manually for a couple of days, so they make take a little longer to go through.

Thank you for giving us a chance and happy trading,
      - CBX Team


239  Bitcoin / Bitcoin Discussion / Re: Camp BX Platform in Beta: Margin Trading, Short Selling, and Advanced Orders on: July 04, 2011, 04:02:26 AM
Happy 4th of July everyone!

      Our CampBX Testnet site has seen a fair amount of activity in its 11 day-old life.   Our big thank you to users who alleviated the early Testcoin-shortage by selling massive lots.

Over past week, testnet had:

~90,000 coins traded
~1,400 individual orders executed
18 Usability tweaks implemented
1 bug fixed
3 Sev-3 security fixes implemented after McAfee Secure scan

We are planning to always keep the CampBX testnet available to users, where pro-traders can test new trading strategies without risk, and new users can get a glimpse of Bitcoin world.

However, we are temporarily going to disable testnet site for one week so that we can focus our team's energy in managing the livenet launch.  Don't worry, your account info and coins will all be there when testnet comes back online next week.

Thank you all for your participation and for believing in Camp BX!
Stay tuned for our launch on July 5th...
     Keyur

240  Economy / Service Announcements / Re: Camp BX Hacker / Security Audit: Results on: June 29, 2011, 06:07:53 PM

I've done PCI compliance stuff for Free Talk Live; I'd be happy to review your report in strict confidence and offer my opinion.

The Gods have spoken to us!  Thank you error - PMing you.


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