An order popped up that I did not enter (the last one at the bottom):  wtf? can anyone explain this? or is it a bug? It sounds like a feature, I can be completely wrong on this, but it sounds like those orders were created with the lines of trust you established with people, so they kinda are your orders but not really. Someone tell me if I am wrong, still trying to learn a lot here. According to Joel (post #181) something like this should not happen. Could it be other people's exchanges on the markets are Rippling through you?
These can only result in one of two things happening: 1) IOUs that you used to hold from one issuer you now hold from a different issuer in the same currency. (And unless you do something very unusual, in the same amount.) 2) Offers that you placed are taken or partially taken. Your balance in the currency/issuer you are selling will decrease and the one you are buying will increase. To be honest, I don't fully understand how the client presents offers. There's an open issue to make it clearer. In laymans terms to me this means: auto-trading only happens within the same currency (and different issuer) and: trades between different currencies only ever happen based on an order entered by the user. So I think your suspicion is incorrect. |
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An order popped up that I did not enter (the last one at the bottom): wtf? can anyone explain this? or is it a bug? |
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Sorry, I think there is something wrong with the 2010 volume in USD...
Hmm? You do realize BTC was worth nothing at that time? Never below $0.01 after Gox opened, $0.00001 something is outright impossible yes, you're correct. something wrong... might also affect the other years... checking. EDIT: oh goddamnit, I accidentally used an old script for this. The datatypes are wrong, everything was imported as integer with 0 decimal places. I'm sorry. I will fix this... will take a while. EDIT2 corrected OP. you can fix things by doing this: mtgox=# drop table trades;
DROP TABLE
mtgox=# create table trades (id serial, unixtime int, t timestamp, price numeric(32,10), volume numeric(32,8));
NOTICE: CREATE TABLE will create implicit sequence "trades_id_seq" for serial column "trades.id"
CREATE TABLE
mtgox=# \copy trades(unixtime,price,volume) from 'trades.csv' delimiters ',' csv;
mtgox=# update trades set t = TIMESTAMP 'epoch' + unixtime * INTERVAL '1 second';
UPDATE 3563178
EDIT3: fixed my other 2 posts containing queries. The values for the years >=2011 changed only "slightly". EDIT4: anyone knowledgable with postgres have a suggestion what datatype to best use for the monetary values? |
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Bitcoin Versus Gold By James Cox on runtogold.com Editor’s Note: James Cox has written three good articles for GoldMoney. For some reason they rejected this well written and balanced article not on its merits but because it is ‘too sensitive’.
haha!
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hey man do you still have any to sell?
yes, how many do you want? |
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Molecular and I went through the biggest headache in dealing with one transaction. It was completely not his fault. The post lost the parcel (fortunately he was smart enough to insure it). Once it was pretty certain I wasn't getting the coins (about a month later), Molecular returned my money. Since they say lightning can't strike twice in the same place, I decided to try one more order w/Molecular. Well, I got it today! Molecular is a stand-up BTC citizen and I would do business with him again any day.
Thanks for your kind words, johnniewalker. I could feel your pain all the way through this shit. I guess we both hate the postal service a bit more now and I, for one, will keep insuring all letters that cointain more than one coin (letters are by default insured up to 30 SDR (special drawing rights), about $25 or something, so for one coin I just take the risk of losing $10 and save €1.50 (cost for €100 worth of insurance)). EDIT: now let's hope I actually get my insurance payed at some point. |
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Molecular and I went through the biggest headache in dealing with one transaction. It was completely not his fault. The post lost the parcel (fortunately he was smart enough to insure it). Once it was pretty certain I wasn't getting the coins (about a month later), Molecular returned my money. Since they say lightning can't strike twice in the same place, I decided to try one more order w/Molecular. Well, I got it today! Molecular is a stand-up BTC citizen and I would do business with him again any day.
Were the coins already loaded? Do we count that as BTC lost forever? The mailman or homeland security has them. I tried entering this fact (owner: postal service) at http://casascius.uberbills.com/ to make this public knowledge, but failed entering the correct captcha. I got told what to enter as exchange rate and will try again. Maybe someone will come accross one of the coins at one point. |
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So am I correct to assume that ripple is designed to allow fractional reserve banking at the gateways?
I think this will happen:
- 1000 users at a gateway will deposit 10 BTC each and extend trust over 10BTC to said gateway.
- The gateway should hold 10000 BTC to cover the trust.
- The gateway will monitor how many BTC are withdrawn and deposited per day over time, say 1000 BTC
- The gateway will only keep 2000 BTC on hand.
So we have 2000 real bitcoins that back 10000 ripple-BTC-IOUs and this will work until there is a bank-run on the gateway at which point the gateway can't pay up and the people will start revoking their trust.
I think this is correct. However it is not unreasonable to expect that there will be a competitive market in gateways. One of the selling point will be the advertised reserve ratio and its auditability (easy with BTC). Other ones will be the fees and general reputation/trustworthiness of the entity. I'm thinking of this: Free Banking
Free banking refers to a monetary arrangement in which banks are subject to no special regulations beyond those applicable to most enterprises, and in which they also are free to issue their own paper currency (banknotes). In a free banking system, market forces control the supply of total quantity of banknotes and deposits that can be supported by any given stock of cash reserves, where such reserves consist either of a scarce commodity (such as gold) or of an artificially limited stock of "fiat" money issued by a central bank. In the strictest versions of free banking, however, there either is no role at all for a central bank, or the supply of central bank money is supposed to be permanently "frozen." There is, therefore, no agency capable of serving as a "lender of last resort" in the usually understood sense of the term. Nor is there any government insurance of banknotes or bank deposit accounts.
sounds good to me. free market for banks. |
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You can trade in 1 share of btcinvest for the face value - BF fee (0.099 BTC). Just PM me  Will this offer stand in the future? |
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here's a screenshot-imgur-upload-script I use (consisting of 2 scripts)
That's cool. Do you know if there's some way of getting it to upload images to my imgur account, rather than uploading them anonymously? I think anonymous images get deleted eventually, so they'll disappear from the forum. I tried this but failed. It should be possible. Maybe someone can look into this? I would also like that more than anon pix. |
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A possible suggestion/thought:
On the one hand I think it's a good idea for the client to hide such complexity as explained above from the user (displaying just the maximum cost and stuff).
On the other hand it would carry much "educational value" to actually show the complexity in the client (differenct payment paths, lot of work I'm sure).
This also goes for other things like the balances (these could be split by different issuers, right?)
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"One question: why do you keep saying "claimed shares". Do you own the shares? I think I might need some clarification, maybe from friedcat... that would be reassuring." As I told you this was listed on GLBSE and then when GLBSE went down friedcat asked for claims. My claim was accepted and this has been confirmed with friedcat. I do not hold the shares only a claim to it at this point. This is not traded on an exchange and I can not give you the shares. I can only give you my claimed shares. Please read the other auction thread found here https://bitcointalk.org/index.php?topic=144574.0 for more details. I'm going to start the 24 hour payment clock now. PMs are being sent now. You can either pay me directly or if you want use the escrow. I over sold this trying to make people happy about the ending the auction with confusion so please do not feel bad if you do not want to purchase the shares. All I ask is you send a PM. I'm hereby making use of that offer and do not wish to purchase the shares any more. If that's not ok, I will honor my bid and buy the shares by paying to escrow. Please let me know. |
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Could it be other people's exchanges on the markets are Rippling through you?
(A rhetorical question, in the sense that that its not you I am really attempting to elicit an answer from.)
-MarkM-
I will answer anyhow deducing from JoelKatz' answer above: No, that shouldn't result in a trade (between currencies) happening on my balances. I've read many times and understand that one has to look at the pair currency/issuer. Wouldn't that mean that -say- my USD balance does really "consist" of USD IOUs from different issuers? Maybe that could optionally be displayed in the client for clarity? |
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Could it be other people's exchanges on the markets are Rippling through you?
These can only result in one of two things happening: 1) IOUs that you used to hold from one issuer you now hold from a different issuer in the same currency. (And unless you do something very unusual, in the same amount.) 2) Offers that you placed are taken or partially taken. Your balance in the currency/issuer you are selling will decrease and the one you are buying will increase. To be honest, I don't fully understand how the client presents offers. There's an open issue to make it clearer. just one quick sub-question: "offer" == "order" or not? |
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So, something weird happened (basically a trade I didn't want or order): this is my current order book. Notice the last order I entered about 1-2 hours ago:  Doesn't that last line indicate I want to "buy 0.01 BTC at a price of 1000 XRP/BTC"?I see some notifications:  But most notably I have now 690 more XRP and 0.069 BTC less in my wallet. So I sold BTC.Why don't trade transactions show in the wallet history? There is absolutely no indication that a trade happened other than that my balances magically changed. That's pretty intransparent, I'd say. Most importantly: the trade seems to have happened the other way around from what I would've expected. My intention was to sell XRP and buy BTC. I'm confused.And also: if this was acutally the order I entered being executed, then the price is off by a factor of 10: 690 XRP / 0.069 BTC = 10,000 XRP/BTC. ------------ just to make sure I understood the displayed order correcly, I just entered another order:  that clearly says I want to buy BTC. and it looks like the order I entered before (that seems to have resulted in a sale of BTC)  Ergo my original order was also to buy BTC, sell XRP. ------------- any ideas / explanations? |
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How are XRP's accounted for? How are they prevented from double spends?
cannot give you a qualified answer, but maybe this: https://ripple.com/wiki/Consensus is involved. |
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Is it possible for one of these gateways to run off with a bunch of currencies? Or to get hacked?
of course: BitStamp is currently holding BTC 1 of mine (blockchain real BTC). They could just run with it. |
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One area where ripple could shine is microtransactions. Being instant and free has its advantages over waiting 60 minutes for a block to propagate.
Also could take load off the blockchain that can maybe only do 7 tx/s  |
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and in the end, if everyone uses ripple... POOF: no need for real money?
Real what? What is this "real money" of which you write?  -MarkM- I know, right? Scarce commodity? So what? We don't need that. So maybe ripple is a bitcoin killer (in the long, long run) after all. |
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what need is there for an exchange with ripples built-in exchange system. mtGox will be degraded to just being a fiat gateway, no?
If you had any real world realistic idea of how much crap is involved in "just being a fiat gateway" you would be glad to know all our so crucial to our whole ecosystem fiat gateways, our major ports through which so much of the trade between the real online world and the real meatspace world passes, can leave "price discovery" to others so they can devote their full energies to making sure our virtual<->meatspace trade-routes remain open. -MarkM- oh yes, it wasn't my intention to downplay the "fiat gateway" function. It's crucial (at least at this point) and kudos and karma to gox and the others doing it. I was just trying to say: mtGox might lose its lucrative exchange business and be left with supplying the hopefully also lucrative fiat gateway function only. MtGox might not be especially happy about that and maybe for that reason might not even consider becoming part of the ripple universe. |
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