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I've used all the exchanges including Bitcoin7. Don't put all your eggs in one basket.
Comparatively, Bitcoin7 so far has one of the fastest withdrawal times to either dwolla or LR. They're easy to use as well. You can see all the bids and asks on one page in a clear format.
As far as how secure their site is - I have no idea. Again, don't put all your eggs in one basket. Or all your bitcoins in one exchange.
Since you're a user of BC7 - can you tell me how their trade API compares to other markets? The link seems to be dead in the footer, but if they have a working API and fast payout times, it's definitely worth a look. |
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What is going to happen with the trading houses? They are the only semblances of central authority that can prevent market manipulation. What are their philosophies on openness of the market? We need a council of representatives from the trading houses to trace blocks and prevent or at least detect arbitrage and manipulation. Otherwise, the currency will appear unsound and manipulatable, and will never reach its potential value.
Isn't arbitrage generally a good thing, particularly high frequency and automated? It would encourage stability in the market, in fact, and the BTC prices would even out across the markets. |
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Why would you even want an invite to bitcoinmarket? A quick check of the page shows the volume to be pretty much nothing now.
I'm evaluating the trading platforms (and APIs, where applicable) for all the markets I can find that trade BTC. It looks like most of the good info on BCM.com is on the inside of the password wall, instead of the outside, so hence I needed in. |
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Am not sure how this would "centralize" the market.
Wouldn't they be just another service provider?. If they do good, it could attract other people to do business in the same way.
When you say "trouble" do you mean "governments issues"?. I guess that will always be the bogeyman until BTC are more mainstream.
He's talking about building a standardized system for inter-market trading where he's "granting API keys." That's pretty centralized and authoritarian. I'm not inventing bogeymen, nor referring to the "government issues," as you put them. I'm talking about running counter to the culture of the Bitcoin community, which would mean trouble, specifically if you expect any sort of adoption. |
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I've actually got an office here in Dallas with Cali Lewis ( http://geekbeat.tv/), and we've got at least three BitCoin nerds in the office looking to build some mining rigs. I'd be interested in talking more. |
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Setting yourself up as a central authority with closed source IP on a market might run you up into some trouble. The basic principals behind BitCoin are just going to be against the grain on something like that.
I think a better way to attack this problem would be to implement your code, as described, and create a standardized API - a sort of OpenSocial for market exchanges.
I've been investigating the APIs for a project I'm working on right now, and the lack of maturity and differences in the various platform APIs is staggering.
Having a more secure set of standards, as well as any standardization between the various APIs, to me is more important than a shared infrastructure between all the exchanges. BTC itself is the connecting thread (as are all the other currency entry/exit points, like Liberty Reserve or Dwolla), and a centralized market platform is frankly unnecessary if we can just get everyone to agree on a common API format.
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I guess this is the part where I say that this is sensible and get credit for one of my posts.
In general, I'm not a huge fan of forums, but as BTC is such a nascent thing, the forums here are one of the only places I can connect up to other users.
Am I missing something, or are Newbies also restricted from sending PMs?
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