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"Line of Credit" style 0-conf TXs
Yeah that would be really nice. Instant can be huge for arbs  Looks like I was one of the winners, ty in advance! I like smpake for a name actually. I tend to use weird project names myself. Keeps it memorable. WTH is mtgox anyway. Excellent marks for this service - several transactions went just perfectly.
Second that. I've done 112.09 BTC in 16 transactions through smpake in the last week, fast, and zero issues. |
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Also on that note, I'd like to discuss what would be appropriate fee structure for service like this? It's the difference between 30 minutes and 3 hours on average? That's worth probably 0.1% average to me (so 0.05% would be a good fee). There's times that it's worth significantly more or less, but that would require new logic in my balancing code. |
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Man, that's really too bad. I've been nothing but impressed by bitfloor; from the video interview, to the github code, to the API and testnet, BF seems like one of the best implemented exchanges out there. 63k BTC (30 day volume) = 3.15k fees (converted to BTC)? Maybe a dumb idea, but you could offer trade-able bonds to the current BTC balance holders, with a 12-24 month term, and a generous (but achievable) rate. Edit: 0.3% fees = 189 BTC gross. My math above is way off  |
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The reason for 20 satoshi fee is the ratio, im thinking the weekly link fee should be about equal of the fee for 10 single transactions, what do you think about that?
Still skeptical? Use it for small amounts only until you get a better feel ;> Sorry if that came off wrong, I'm not skeptical. If you were intending to scam people there wouldn't be a transfer limit, and you wouldn't have created a game-changing system for the short term gain. My arb bot now uses my SMPAKE address for BTC to Mtgox for transfers <= 25 BTC I guess if I could make another suggestion/request: Once you decide to raise rates, please give advance warning (here and to the emails you have on file). |
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Major upgrade on site, we now support permanent links for your 1 confirmation deposits! Awesome! I can't seem to find the min transfer amount though. Is there still a min transfer of 5? If permanent for 20 satoshis is an option, why even bother with the temp address and 10/1 satoshi options? 20 satoshis is an unfathomably small amount in terms of fees, so comparing 20 to 10 or 2 or 1 is equally insignificant. To be honest, that fee makes me trust your service less, because as far as I understand, it's going to take like a million transactions for you earn one bitcoin? It just doesn't make sense that it would be a worthwhile enterprise for you. |
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Flawed logic is flawed.
For one thing you can not assume that everyone has seen this thread.
Uhh what? Are you saying my guess that "less than 2% of the registered bitcointalk.org members would take him up on the offer" is flawed .. because I'm "assuming everyone saw this thread"? I didn't say anything about the people viewing this thread, and it's irrelevant anyway.' If you think 83%+ of bitcointalk.org registered users would take up the offer for a free magazine (as awesome and relevant as it may be), that's a bet I'd be all in on. Biggest flaw in the logic would be that people who are into Bitcoin would even consider "Bitcoin Magazine" on the same par with other random magazines. It's fucking Bitcoin Magazine. I'm not trying to put down the magazine at all... just using common sense. An 83% response rate is unheard of in marketing. And it's just that, a marketing expense. Most mags give away trial subs. Even ones that are thousands usd annually. |
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Pretty genius if you ask me. We should also buy bitcoins in units of 0.1 USD. What's a dime these days anyway? Helps with perception.
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62,489 members, I'd guess < 2% take you up on the offer. There's just tons of free magazine offers out there, lots of dead accounts, lots of users that won't see the offer, lots of users that don't want to give their address, etc.
So a 50k run of one issue for distribution to bitcointalk.com members seems like a bad idea.
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An outspoken critic of BTC ponzi schemes bets more BTC than he has (or can afford).
Isn't it ironic? Don't you think?
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If no deposit is detected on the network in 24 hours, offer will remain open in lower prority mode
for the next 6 days. If coins are sent after that time, contact support to reopen and finish the transfer. Sweet, I'll definitely be using it in that case, at least once the 1 BTC min is higher. Is there anything preventing you from offering just a permanent address, that funds could just be sent ad-hoc, and would go to my MtGox? How does this work on MtGox's side? Eg. how do you get them in my account faster? |
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If after 10 minutes there is no uncofirmed tx detected, offer will be closed and if coins hit that address at a later time, (at the moment) nothing will happen automagically. (coins are not lost) Sorry, not sure I follow "(at the moment) nothing will happen automagically. (coins are not lost)" The reason I ask is this would be super nice for non-MtGox-Exchange -> MtGox transfers, but I can't ensure the exchange would send within 10 minutes. |
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If no deposit is detected on the network in 10 minutes, offer will be closed. What happens if the deposit comes in to that address after 10 mins? |
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Hmm.. I didn't know that BTC-e supported Dwolla...
I've never done fiat withdrawals at BTC-e so I can't confirm. The FAQ section on their website has these two questions and replies: " Do you accept any alternate forms of payment such as Debit/Credit Cards and Liberty Reserve?At this time, BTC-e is currently not accepting any of these payment methods. All transactions carried out on our website are irreversible; therefore use of payment methods that are reversible would be a detrimental venture for us. The presently supported payment methods are : US Bank Wire, EU Bank Wire (SEPA), Liberty Reserve, Visa, Mastercard, Liqpay.com, unikarta.com, PerfectMoney.com, WebCreds.com, Ukash.com, Webmoney.ru. " " Do you fulfill any requests to send money or carry out currency exchanges via government fiat?
Unfortunately, we do not fulfill any such requests. We choose to carry out business using registered companies such as Western Union, Dwolla, and other well-known financial companies to carry out our transfers. " ...so it's not clear. I signed up for an account and tried to do a deposit, and Dwolla was not listed as one of the options. Maybe they allow it for withdrawals and not deposits, but I'm thinking the FAQ is just outdated. BTC-E Dwolla deposit is available through BitInstant @ 1.99%, FWIW. |
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I had the same issue about a month ago when I tried working with the socket io feed.
I just gave up after a while. At least when I was working on it, the timestamps on the depth were completely out of whack with the timestamps from socketio and there seemed to be no good way to ensure your live book is 100% accurate.
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Bitfloor does ACH withdraws, ING P2P, and in person bank deposits. All of those are zero fee.
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For USD I'm guessing it's due to MtGox's slow Dwolla withdraws. It's like 7 days minimum turnaround for a MtGox/Dwolla/Intersango arb.
As someone new to arbitrage, I'm wondering how much of the recent juiciness has been related to MtGox/Dwolla.
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I'm not a troll, and my first post is amazing. Can I please get access to post where I want? (trading forum)
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people donate a little amount of bitcoins to a fund that purchases a lot of bitcoins People invest bitcoins, and then your fund buys bitcoins with... bitcoins? |
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