I will be travelling from next Thursday for two weeks. Expect delays in the processing of deposit and withdrawal requests. Apologies for any inconvenience. Trading of Oz.AUD on GLBSE should continue as normal. Any deposit or withdrawal requests made before 4 pm Monday should still be processed  as normal before I leave.

Cheers,

OzBitcoin admin.

First deposit has now been received. I have emailed the user for a bitcoin address to pay the 0.5 BTC bounty. [Bounty paid: http://blockexplorer.com/tx/de46671ac8d537e0cabbcb9cd055d7d5fb6a7e17b9ba7eb15dfb5dcaca319266] 0.1 BTC bounties remain for the second and third deposits, and 0.7 BTC in bounties remain for withdrawals.

Well, we've had our first little bug in the web interface discovered and fixed and I'm working on an FAQ to help explain how OzBitcoin works. We use GLBSE as a back end, because we think it offers the best security currently available. I think we need to work on making it also more user friendly.

Suggestions and queries welcome.

It's nice to see some (minor) trading occurring in OzBitcoin (Oz.AUD) assets on GLBSE, but so far noone has made a deposit or withdrawal. So, I am offering a 0.5 BTC bounty to the first person buy at least 20 Oz.AUD assets through bank transfer and 0.5 BTC for the first withdrawal of at least 20 Oz.AUD. I will also offer 0.1 BTC to the second and third depositors and withdrawers. I will judge on the basis of the day the money/Oz.AUD hits my account, and in the event of ties, the time of deposit of withdrawal request. This offer is valid until the end of August. And remember, trading is currently free until the end of August.

I am confident that the exchange is functioning correctly, but would appreciate some help with live testing, which is why I am offering these bounties. Please contact me if there is any in the exchange process you do not understand.

The first currency exchange based on GLBSE's backend. We exchange bitcoin for Australian dollar bank transfers. Free trading while in test mode.

http://ozbitcoin.com
GLBSE: Oz.AUD

I have been advised that selling bitcoin on email is against their policy and have had auctions deleted. Even offering bitcoin as a bonus item is not allowed.

The OzBitcoin Exchange is now open in testing mode. OzBitcoin Exchange is an Australian Dollar—Bitcoin exchange based on GLBSE. Each asset with the ticker symbol Oz.AUD is equivalent with and redeemable from the issuer for Australian dollars. To convert Bitcoin to AUD, you may buy Oz.AUD on GLBSE and then submit a redemption request on our website to have Australian dollars credited to your Australian bank account. To buy bitcoin for AUD, submit a deposit request on out website, then transfer funds to the OzBitcoin bank account and we will credit your GLBSE account with Oz.AUD, which you can then sell on GLBSE for bitcoin. We hope to offer other funding and redemption methods in the future.

During the beta phase, no deposit, withdrawal fees or transaction fees will be charged. The beta phase will run until at least the end of August, possibly longer.

We note a few issues that we hope to have ironed out in the future. Currently, because you are buying and selling AUD equivalents, the prices are inverted from those usually quoted for bitcoin prices expressed in fiat. For example, to buy a bitcoin for $10, you need to sell 10 Oz.AUD for 0.1 BTC each.

Also, the contract does not currently display correctly on the GLBSE assets page. Here is the correct contract:


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Hash: SHA1

<contract_text>
<type>
stored value asset
</type>
<issuer>
<contact>
<email>
ozbitcoin@ozbitcoin.com
</email>
<public_key>
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</public_key>
</contact>
<officers />
<name>
<organisation />
</name>
<address>
<website />
<offices />
</address>
</issuer>
<terms>
OzBitcoin Exchange

Asset ID: OzBitcoin.AUD

This asset acts as a stored value facility for Australian Dollars.
One Asset is equivalent to and exchangable with Australian Dollars from the issuer.
The formula for exchange shall be

Buying OzBitcoin.AUD
--------------------------------

Cost of 1 OzBitcoin.AUD = 1 AUD plus exchange handling deposit fee


Selling OzBitcoin.AUD
--------------------------------

Proceeds of 1 OzBitcoin.AUD = 1 AUD minus exchange handling withdrawal fee

The exchange handling fee is dependent on the method of exchange and is given in the terms and conditions of OzBitcoin.AUD.
The terms and conditions are subject to change and and are available on request from the issuer.
Any changes to the terms and conditions will be published on ozbitcoin.com or elsewhere as the issuer deems appropriate at least
20 days prior to the change taking place.

OzBitcoin.AUD is also exchangeable for Bitcoin on the GLBSE.

OzBitcoin.AUD operates under Australian law and abides by the EFT Code of Practice.
No account holder may purchase more than 1000 AUD worth of OzBitcoin.AUD

By purchasing this asset, you agree that you will not purchase more than 1000 OzBitcoin.AUD and that you will abide by the terms and conditions.

</terms>
<bylaws>
http://ozbitcoin.com/terms-and-conditions/
</bylaws>
</contract_text>
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If you have any questions, feel free to ask here, or email me at ozbtcoin@ozbitcoin.com

Introducing the first bitcoin currency exchange based on GLBSE, OzBitcoin, allowing exchange between bitcoin and Australian dollars, with all the security of GLBSE. Currently in beta mode and looking for more users.