Just curious, this is probably a newb question, but couldn't bot trading be solved with a captcha at log in?
No, the problems havent been caused by bots logging on. I'm guessing its the number of trades which the bots execute and query their database (which generally tends to be quite high compared to regular trading). This is normally allowed on exchanges as it benefits liquidity (and the exchange obviously gets a cut of the fee's charged for each of these trades) however can take a lot of server load in volatile markets. In the real world it is referred to as HFT - High frequency trading, program trading or prop trading (not by strict definition). |
|
|
|
One of the reasons an exchange will not send fees with the order is if they do discounts for order volume. If you trade over X shares a month or within a day, then your fee rate is different and the one sent to you with your orders would not be correct at the end of the day. Another reason is if their reconciliation systems are different from the matching engine. This is true at bitfloor. Our matching engine does not care what user you are and thus does not have your details (like fee structure). If we were to have different fees for different users then it would not know what fee to apply (since again it does not deal with user data).
MtGox does have a variable fee structure with discounts for higher trade volume. Theirs works off trading volume within a sliding 30 day window and actually works very very well. Their system reconciles exactly too so they've done their homework and their implementation is flawless. There is a current fee which you can query and retrieve before you place a trade. The Fee will reflect what your current trade volume to date (within the last 30 days) has been. From this figure, you can deduce the fee on trades you are potentially going to make. Fee's from MtGox's system are deducted after an order has been matched. If you buy BTC on gox, the fee will be deducted on the BTC bought. If you sell BTC, the fee will deducted from the fiat currency you receive. |
|
|
|
|
I just received this from Mahin:
We had some issues with BTC daemon throughout the week end. Those issues are taken care of now.
I will get back to you on order matching steps tomorrow as I have a lot of email to respond today ( due to issues of BTC daemon, we have lot of customers having same issues. )
Looks like its fixed, reassuring to know they're on it. I might suggest to them some kind of redundancy feature whereby order placing should be disabled or suspended on the exchange if something like that happens?
|
|
|
|
5. Fast Executions on Market Orders
Firstly, the lag-time between placing a "Quick Buy"/"Quick Sell" order and having it execute. I've seen this take anywhere from 30 seconds up to a minute and a half. In one case, the trade didn't execute, but stayed on the books in small pieces, and I had to delete each one manually and place the order again. It would be better if Quick mode either locked the orders in question for 5 seconds while waiting for approval, or simply executed what they could immediately and warned you that some of your orders couldn't complete
I've been having a lot of trade execution problems with CryptoXChange - anyone else experience this too? Mine tend to evolve around an order which I want to fill showing its buy/sell button, then after I place the trade, it will not fill or stay there for up to a minute, or sometimes more before executing. If the order depth (through the api or the web page) is queryed during this time, it'll show a buy and a sell price which is the same and sometimes an overlap where sell prices exceed buy prices!? I can understand this happening at busy times, especially when there is high volatility for a few seconds at a time, but from what you are saying ssaCEO, you, like me have seen this happen for minutes at a time. I have raised this a number of times with them but I don't tend to get an answer. This along with a number of queries asking about how their order matching system works. Do you have any further information about this cryptoxchange? *edit* This has been identified as an issue and fixed, see: https://bitcointalk.org/index.php?topic=64546.0 |
|
|
|
I'd like to see the current fee through the API. I've noticed that you have been changing the fee a lot recently with a 0% promotion currently running, there is however no API call to retrieve the fee so when performing various calculations/trading via the API, my figures will not reflect what the true buy/sell cost will be... this is unless I have logged onto your website.
Thanks
Wouldn't it make more sense to send a request like this directly to them? YES! If you want an exchange (or any other site for that matter) to implement something I strongly suggest you contact them first. If anything ask them to post on the forums (or link to a prepared post) on a discussion on the matter. Do not assume that the exchanges will hunt through all subforums looking for requests. As a side note, this should probly be in trading discussion as it is more relevant there and not a general bitcoin project. Geez... i'm just putting it out there and gauging opinions. I started this as a thread as fees were actively discussed a number of times in the CryptoXchange improvements thread (although not API related) along with the variable fee structures they are considering implementing. I'll no doubt point them to this thread when I submit a request to them. That is if the forum community gives a positive consensus (to show there would be demand for something like this) and constructive feedback. Please keep the posts as relevant as possible. *Admins: please move this thread to the trading discussion subforum. |
|
|
|
Here's the class I use to do the same thing: https://github.com/dooglus/intersango/blob/aud/mtgox_api.phpIt's more complete, offering functions like buy_btc, sell_btc, cancel_order, etc. Use it if you like, but I can't offer any guarantees as to its correctness, but it works well enough for my purposes. Thats pretty slick code, function wrappers  This is what i've done but my code isnt tidy like yours |
|
|
|
|
I'd like to see the current fee through the API. I've noticed that you have been changing the fee a lot recently with a 0% promotion currently running, there is however no API call to retrieve the fee so when performing various calculations/trading via the API, my figures will not reflect what the true buy/sell cost will be... this is unless I have logged onto your website.
Thanks
|
|
|
|
You could buy bitcoins for USD, then sell bitcoins for EUR.
Good idea... don't know why I didn't think about that in the first place. Anyhow, wouldn't it be a good idea to implement such a conversion system? Would be nice, even if it was via user-to-user transfers. I'm in the opposite position (would like to exchange some EUR and/or GBP for USD) but there's currently no way to do that on the platform. Something similar to "gox codes" would be helpful here. vouchers constitute eMoney and require licensing by the FSA in the UK Whats a bitcoin classified as then? As far as I can tell (which includes inquiring with the FSA) a bitcoin is not classified as anything. I hope they won't take it too far. If the FSA starts to pick it apart, then I doubt it'd be good news for all us bitcoiners. The Uk finance industry and all those associated are over regulated, the last thing we want is them becoming curious about what they should dictate when it comes to bitcoins. |
|
|
|
|
Hey br00t, are you trading using these wrappers? Got a trading bot?
|
|
|
|
|
... I'd be interested to hear from anyone who has written a PHP socket.io class for MtGox!
|
|
|
|
This is excellent, just ran thru the code and really nice work.
I will point this to people who ask us for help with the Gox API.
Thanks, doesn't seem to be getting much attention amazingly enough, even though I always see people asking about using the MtGOX API... Also does anyone know if I would be able to add a link to my API on https://en.bitcoin.it/wiki/MtGox/API ? Nice work. Very clear, efficient and well structured code. You might want to use this as a subclass and have a class wrapper with functions such as placebid($amt,$price), placeask($amt,$price) etc... That's what I have done as it saves you having to add the $path each time you place a call. It'll also make using each function simpler as each function will have a pre-defined set of inputs instead of having to look up the api page to find out what you should put in the $req = array() variable (which could lead to all sorts of mistakes caused by human error). If I ever get round to tidying up my API code I'll share it one day. Do you trade using your script? |
|
|
|
You could buy bitcoins for USD, then sell bitcoins for EUR.
Good idea... don't know why I didn't think about that in the first place. Anyhow, wouldn't it be a good idea to implement such a conversion system? Would be nice, even if it was via user-to-user transfers. I'm in the opposite position (would like to exchange some EUR and/or GBP for USD) but there's currently no way to do that on the platform. Something similar to "gox codes" would be helpful here. vouchers constitute eMoney and require licensing by the FSA in the UK Whats a bitcoin classified as then? |
|
|
|
how ever withdraw requests will be slightly affected, next day processing will now be delayed.
We do want your feed back on this matter.
an estimate of how long withdrawals *should* take would be nice. happy bbq day. Hi all, Maximum 3 days Andre Hi there Andre, are you still experiencing these delays? I recently sent you an email about getting my limits raised and have been waiting on a couple of withdrawals, is everything ok? |
|
|
|
The only issue I suppose is if the website folds and disappears. This kind of trust would need to build over time, so we could start with tiny contracts (1 BTC = 1BTC).
Real order execution wont be a pain at all. Order Book and order matching is a well understood and solved problem.
I'm not sure of your experience but i dont think it'll be as easy as you make it out to be. Will a broker really let you place lots of small 1BTC ~ $5 trades? Also what if someone wants to expand their position a week down the line and the BTC->USD rate has changed (not to mention the price of the future), can you ensure accurate statements are returned to individuals when the trading gets more complex? *edit* fix the quote boxes |
|
|
|
|
I was thinking of doing something like this, however it'll be a LOT of work to make it a. Legal and b. Trustworthy
I had a basic concept that would allow people to buy into a major stock index with bitcoin. Is this what you want to offer but for futures contracts?
So what you are offering are essentially real futures contracts on the open markets but paid for in BTC? The biggest pain would be in the execution of the real orders when placed in BTC on your site.
|
|
|
|
Charge only for fiat withdrawals.
I had this idea too. It would encourage people to trade more, and encourage people to hold bitcoins. I'm going to ask the others why they decided against this (can't remember). The problem with free trading is that allows people to open multiple accounts and trade with themselves in order to manipulate volume data, at practically zero cost. Such a manipulator would still face the risk of another user snatching up one of their bids, but if they trade with extremely high frequency and keep their amount of currency in bids and asks at any given times as small as possible, this risk can be minimized. Free trading also does nothing to prevent an arms race of spammy high frequency trading algorithms which would eventually overload the server. That's why a minimal trading fee is a good idea, though it could be probably be smaller than 0.6% to prevent the above. Agree with all including BTCurious. I'm not a fan of the suggestion to charge for Fiat withdrawals as I could see this adding up and also penalise low volume first time traders who just want to dabble (or cash out on their week's mining efforts). However everyone makes valid points. Lower trade fees (or zero) will encourage more liquidity which is a win win situation for everybody. Going along with the suggestions, how about a fee structure where you charge a small amount for fiat withdrawals... and at the same time have a small (smaller than 0.6%) trading fee with a reduced fee for higher volume traders. |
|
|
|
Careful analysis and 89 years of experience leads me to believe that Bitcoin is about to go through the roof. Though most will not understand the dynamics of what this chart shows, those that do will be blown away.  You heard it here first. Well, since you brought the 2 month chart to our attention, I would like to point out a little history: - In the month of December, very incrementally, the price gradually rose up from $2.80 to $4.00 - In the 1st week of January, on heavy volume, the price rallied from low $4s to $7.00 - The following 10 days, we repeatedly rallied from low/mid $6s to just under $7.20, on high volume - We crashed on Jan 18 - After slight bounce up from Smack-Down, we've dwindled to low $6s on very little volume Whether because of manipulation, Bitcoinica, or just sheer rally-driven exuberance, seems evident that were now reeling from from a bubble. Some feel that we have more price correcting to do; I have to agree. To think that now we are going to rally up to $12 in February, after what we've just gone through, I just don't see it.  +1... I'm wetting myself at those who thought he was serious meh..post a chart here...any chart...and someone will buy it IMO  We're ALL the Manipulator. I mean seriously... he opened his OP with: Careful analysis and 89 years of experience leads me to believe that Bitcoin is about to go through the roof |
|
|
|
Careful analysis and 89 years of experience leads me to believe that Bitcoin is about to go through the roof. Though most will not understand the dynamics of what this chart shows, those that do will be blown away. You heard it here first. Well, since you brought the 2 month chart to our attention, I would like to point out a little history: - In the month of December, very incrementally, the price gradually rose up from $2.80 to $4.00 - In the 1st week of January, on heavy volume, the price rallied from low $4s to $7.00 - The following 10 days, we repeatedly rallied from low/mid $6s to just under $7.20, on high volume - We crashed on Jan 18 - After slight bounce up from Smack-Down, we've dwindled to low $6s on very little volume Whether because of manipulation, Bitcoinica, or just sheer rally-driven exuberance, seems evident that were now reeling from from a bubble. Some feel that we have more price correcting to do; I have to agree. To think that now we are going to rally up to $12 in February, after what we've just gone through, I just don't see it. +1... I'm wetting myself at those who thought he was serious |
|
|
|
|
Are you talking Forex through bitcoin or forex in general on the fiat markets?
The problem I've found with trading forex through bitcoin is when I have to move fiat around.
|
|
|
|
Sorry for the confusion those API calls were only recently added, and I didn't remember to remove the reference to Ad Hoc requests.
Thanks for your response, can you clarify this as well: - Paxum
Payments in within 10 minutes. Payments out within 10 minutes if funds are available. Currently we do not move funds to paxum, so they will only be available when other users use this.
I understand your Lloyds payments are taking a little longer these days so I'm looking into different payment options to transfer fiat funds to and from Intersango as quickly as possible. |
|
|
|
|
Show Posts
