[BTC-TC] Virtual Community Exchange [CLOSED]

[TsuyokuNaritai]

Stop me if you've been over this..

Logged in today and noticed for the first time the LTC/BTC ratio in the header read 35.08771929. That meant either I had missed a historical event in the popularity of LTC, or you're showing the inverse of what seems to be the traditional way to read the ratio, "1 LTC = x BTC."

That header has displayed that way quite a while.  It's just the difference between LTC/BTC or BTC/LTC, the "traditional way," for example, on BTC-E's LTC/BTC chart, is just plain wrong, it should say BTC/LTC, not LTC/BTC.

BTCTCO is BTC denominated, so it shows the # of LTC you can buy for one BTC.  On a LTC denominated site, it would display the # of BTC you could buy for 1 LTC.

The price of LTC/BTC should be interpreted as "how many litecoins per one bitcoin?" ~34
The price of BTC/LTC should be interpreted as "how many bitcoins per one litecoin?" ~.029

Currency exchange rate notations use the forward slash counter-intuitively. For example, the exchange rate for the Euro in U.S. Dollars is noted as "EUR/USD", which many would reasonably read to mean "Euros per Dollar". In practice, it is exactly the opposite: It means U.S. Dollars per Euro. In currency exchange notation, the currency preceding the slash is the Base currency and is always the number "1". The currency after the slash is the "counter-currency" or the "quoted currency". So "EUR/USD" means that One Euro equals "x" number of U.S. Dollars.

[JordanL]

Can someone please point me to the directions on how to transfer direct share in and out of BTC-TC?

[carnitastaco]

Currency exchange rate notations use the forward slash counter-intuitively. For example, the exchange rate for the Euro in U.S. Dollars is noted as "EUR/USD", which many would reasonably read to mean "Euros per Dollar". In practice, it is exactly the opposite: It means U.S. Dollars per Euro. In currency exchange notation, the currency preceding the slash is the Base currency and is always the number "1". The currency after the slash is the "counter-currency" or the "quoted currency". So "EUR/USD" means that One Euro equals "x" number of U.S. Dollars.

lol, ok, I stand corrected!  except for the part about btct displaying that way for a while, which is def true

[Lohoris]

Can someone please point me to the directions on how to transfer direct share in and out of BTC-TC?

It's up to the individual security, read its details.

[dexX7]

The last patch of btct.co lead to a downtime of several hours, if I recall correctly.

burnside: I suggest you announce the trading engine change prior starting the update, if it could have the same impact.

[medicine]

Hey Burnside,  I would like to suggest a standardized IPO share release process.  Some sort of announcement process where the issuer and/or yourself post specific date/time information, and maybe even a countdown clock announcing new IPOs.
I am making this suggestion because I am watching and waiting for the Labcoin release and would find this sort of standardized process helpful.

Congrats on the great site, and keep it up.
Peace

[dexX7]

Hey Burnside,  I would like to suggest a standardized IPO share release process.  Some sort of announcement process where the issuer and/or yourself post specific date/time information, and maybe even a countdown clock announcing new IPOs.
I am making this suggestion because I am watching and waiting for the Labcoin release and would find this sort of standardized process helpful.

I'd say it's up to the issuer how they handle things and if they fuck up, it's their responsibility.

But I'm not sure, if this option is implemented and if it's not, this is a feature request: issuers should have to option to stop all trading activities. This could be default enabled for new assets.

[Rannasha]

Hey Burnside,  I would like to suggest a standardized IPO share release process.  Some sort of announcement process where the issuer and/or yourself post specific date/time information, and maybe even a countdown clock announcing new IPOs.
I am making this suggestion because I am watching and waiting for the Labcoin release and would find this sort of standardized process helpful.

I'd say it's up to the issuer how they handle things and if they fuck up, it's their responsibility.

But I'm not sure, if this option is implemented and if it's not, this is a feature request: issuers should have to option to stop all trading activities. This could be default enabled for new assets.

Issuers already have the option to halt trading (and clear the orderbook) I believe.

[medicine]

Hey Burnside,  I would like to suggest a standardized IPO share release process.  Some sort of announcement process where the issuer and/or yourself post specific date/time information, and maybe even a countdown clock announcing new IPOs.
I am making this suggestion because I am watching and waiting for the Labcoin release and would find this sort of standardized process helpful.

I'd say it's up to the issuer how they handle things and if they fuck up, it's their responsibility.

But I'm not sure, if this option is implemented and if it's not, this is a feature request: issuers should have to option to stop all trading activities. This could be default enabled for new assets.

Well, I didn't know exactly how to suggest something like this.  I just tried to word it politely.  I'm not a techy, maybe a countdown clock would draw too much traffic to the site and cause delays or the whole site to just go offline?
I would just appreciate, like many others, to have more info.  

But do issuers have the option of a nice big countdown clock?.... I guess they have that option here on the forum.

[davos]

Something like a dutch auction option for IPOs would be useful I think. It would help mitigate some of the confusion surrounding over-subscribed IPOs for both issuers and novice investors.

Without such an option I tend to think that actually running your own dutch auction on the forums and pushing the shares out for the IPO on BTCT makes more sense than attempting to run the IPO through the open subscriptions on the market - but as an LTCGlobal shareholder I'd prefer if the transaction fees from the IPO were captured by the market.

[shadallion]

So if I want to buy some Labcoin IPO, do I simply have to wait patiently for it to hit the exchange and then buy?  The chatter I've read seems to indicate that people already have their buy orders in, and that the IPO is sold out.  Is that correct?

[creativex]

So if I want to buy some Labcoin IPO, do I simply have to wait patiently for it to hit the exchange and then buy?  The chatter I've read seems to indicate that people already have their buy orders in, and that the IPO is sold out.  Is that correct?

There are bids placed for 11914650 shares representing a total of 11941.299581 BTC atm. Since Labcoin said they were going to raise 7000? BTC this would more than fill their IPO requirements.

[pascal257]

So if I want to buy some Labcoin IPO, do I simply have to wait patiently for it to hit the exchange and then buy?  The chatter I've read seems to indicate that people already have their buy orders in, and that the IPO is sold out.  Is that correct?

You can see at the outstanding count that no shares have been issued so far.

[kopipe]

For some reason, I can access the home page and my account, but I cannot access my wallet page.

I just deposited 12BTC too    782e5a896d85ac957adec6a2c79a5c15c6337a91010700988374eb685aa4562a

Am I the only one? https://i.imgur.com/jOMpBtD.png

[burnside]

The last patch of btct.co lead to a downtime of several hours, if I recall correctly.

burnside: I suggest you announce the trading engine change prior starting the update, if it could have the same impact.

I agree, and in the spirit of this...

I apologize for the short notice, but in anticipation of the server load going forward we are going to be upgrading our database server today.  The interruption should be minimal, but I will almost certainly have to halt trading for a few minutes while we flip the switch from one to the other.

Crazy day for sure.

Hey Burnside,  I would like to suggest a standardized IPO share release process.  Some sort of announcement process where the issuer and/or yourself post specific date/time information, and maybe even a countdown clock announcing new IPOs.
I am making this suggestion because I am watching and waiting for the Labcoin release and would find this sort of standardized process helpful.

I'd say it's up to the issuer how they handle things and if they fuck up, it's their responsibility.

But I'm not sure, if this option is implemented and if it's not, this is a feature request: issuers should have to option to stop all trading activities. This could be default enabled for new assets.

Well, I didn't know exactly how to suggest something like this.  I just tried to word it politely.  I'm not a techy, maybe a countdown clock would draw too much traffic to the site and cause delays or the whole site to just go offline?
I would just appreciate, like many others, to have more info.  

But do issuers have the option of a nice big countdown clock?.... I guess they have that option here on the forum.

I know there are some concerns around the IPO process but I think in most situations we're going to leave it up to the issuer to take care of their potential shareholders as best they can.  From the exchange's standpoint, the IPO date/time is the moment the 5th required vote comes in, and that is not predictable so trying to put time restrictions around something that is unpredictable like that is just going to add heartache.

On thing that someone asked for a while back was to be able to receive an email notification of new issues being approved.  This is definitely something I'm on board with and will work towards implementing.  That should alleviate some of the issue.

Cheers.

[shadallion]

I cannot see my Wallet page either

[burnside]

For some reason, I can access the home page and my account, but I cannot access my wallet page.

I just deposited 12BTC too    782e5a896d85ac957adec6a2c79a5c15c6337a91010700988374eb685aa4562a

Am I the only one? https://i.imgur.com/jOMpBtD.png

That page hits up the bitcoind several times for your current balance and any deposits coming in, etc.  It's probably slammed right now unfortunately.

Everyone's trying to get in a ton of deposits for the Labcoin IPO.

[N_S]

For some reason, I can access the home page and my account, but I cannot access my wallet page.

I just deposited 12BTC too    782e5a896d85ac957adec6a2c79a5c15c6337a91010700988374eb685aa4562a

Am I the only one? https://i.imgur.com/jOMpBtD.png

That page hits up the bitcoind several times for your current balance and any deposits coming in, etc.  It's probably slammed right now unfortunately.

Everyone's trying to get in a ton of deposits for the Labcoin IPO.

Make the pain stop! I see my deposit has 7 confirmations on blockchain, but I can't open the wallet tab. This blows.

[superbit]

I think its a DDOS attack, not everyone trying to login.

[dexX7]

I agree, and in the spirit of this...

I apologize for the short notice, but in anticipation of the server load going forward we are going to be upgrading our database server today.  The interruption should be minimal, but I will almost certainly have to halt trading for a few minutes while we flip the switch from one to the other.

Crazy day for sure.

I know there are some concerns around the IPO process but I think in most situations we're going to leave it up to the issuer to take care of their potential shareholders as best they can.  From the exchange's standpoint, the IPO date/time is the moment the 5th required vote comes in, and that is not predictable so trying to put time restrictions around something that is unpredictable like that is just going to add heartache.

On thing that someone asked for a while back was to be able to receive an email notification of new issues being approved.  This is definitely something I'm on board with and will work towards implementing.  That should alleviate some of the issue.

Cheers.

Don't be sorry, you do a very great job and all "requests" are friendly suggestions!

+1 for no additional restrictions. Notifications would be nice though and a default enabled trading lock might be an option to prevent something like what happened to LAB. This would eliminate the surprise of instant orders after the 5th vote and leave the choice of start time to the issuer. Of course the issuer could disable the lock before the 5th vote, if he or she wants.

By the way. Do you know if it's malicious intended DDOS right now or just an overwhelming number of active users?