[BTC-TC] Virtual Community Exchange [CLOSED]

[ffwong]

Heh, I had no idea they gave themselves so much padding. The second line seems odd considering they don't even charge fees (currently?).

I doubt it'll ever happen, but a man can dream about a long vacation outside the range of cellular phones...   Being a contract and all I felt it was prudent wording.

The second line there used to be fees, and there's still the potential later for there to be fees.  It's not very likely.  (Extremely unlikely actually)  But it didn't hurt to leave it in.

Cheers.

Just a simple side question on btct.co, when dividend X of a stock (e.g. ASICMINER-PT) is paid, will the exchange immediately deducts X from the current stock price?  Just like real stock market?

Thanks in advanced to anyone who answers.

[burnside]

Just a simple side question on btct.co, when dividend X of a stock (e.g. ASICMINER-PT) is paid, will the exchange immediately deducts X from the current stock price?  Just like real stock market?

Thanks in advanced to anyone who answers.

No.  Though it can cause fluctuation in the open market price.

[ThickAsThieves]

I know I've harped on this before, but it would be GREAT if the manual threshold for withdrawals was a lot higher for people with 2fa on everything. Maybe like 50btc?  Pweeeeeez!?

[blurden]

idea: what if all "details" tabs had downloadable pdfs of that page? also alerts when the details/pdf has been updated...

[burnside]

I know I've harped on this before, but it would be GREAT if the manual threshold for withdrawals was a lot higher for people with 2fa on everything. Maybe like 50btc?  Pweeeeeez!?

I would love to be able to do that.  But 50 BTC would be the entire hot wallet most of the time. 

I know people don't care for the manual withdrawals.  They're not fun to process either.  We just can't risk making ourselves a hacking target like that.  Too many sites (recently vircurex) have gone down the drain because they leave too much exposed.

idea: what if all "details" tabs had downloadable pdfs of that page? also alerts when the details/pdf has been updated...

That's a pretty good idea.  I like it.    Downloadable contracts / prospectus would be sweet.  It'll be a while before I can do it, but I'll definitely put it on the list.

Thanks!

[ThickAsThieves]

I know I've harped on this before, but it would be GREAT if the manual threshold for withdrawals was a lot higher for people with 2fa on everything. Maybe like 50btc?  Pweeeeeez!?

I would love to be able to do that.  But 50 BTC would be the entire hot wallet most of the time. 

I know people don't care for the manual withdrawals.  They're not fun to process either.  We just can't risk making ourselves a hacking target like that.  Too many sites (recently vircurex) have gone down the drain because they leave too much exposed.

The problem I have is the manual withdrawal forces me to trade less on BTCT.co, it means I am exposed to too much time risk.

50BTC for the hot wallet seems awfully low to me as well. This means that you probably process more manual withdrawals than automatic ones...

It seems like overkill to me, but I'm not the one running the exchange I guess, so I plead some ignorance.

Either way, higher manual withdrawal limits is the single biggest feature request on BTCT.co for me, by a longshot.

[Rannasha]

Heh, I had no idea they gave themselves so much padding. The second line seems odd considering they don't even charge fees (currently?).

I doubt it'll ever happen, but a man can dream about a long vacation outside the range of cellular phones...   Being a contract and all I felt it was prudent wording.

The second line there used to be fees, and there's still the potential later for there to be fees.  It's not very likely.  (Extremely unlikely actually)  But it didn't hurt to leave it in.

Cheers.

Just a simple side question on btct.co, when dividend X of a stock (e.g. ASICMINER-PT) is paid, will the exchange immediately deducts X from the current stock price?  Just like real stock market?

Thanks in advanced to anyone who answers.

Stock prices aren't adjusted by the exchange because of dividends, not in BTC-exchanges nor in "real" stock markets. The reason why you see a price drop very similar to the dividend amount on regular stock markets is that the dividend is often announced in advance and it's a relatively infrequent thing (yearly, sometimes less), and for quantities that are relatively large compared to the stock price, which means that trades will anticipate the upcoming dividend into their valuation of the stock and just before the dividend payout date, the stock has an increased price that reflects the imminent dividend.

BTC stocks pay dividends very frequently, weekly or daily is the standard and therefore individual payments are small, rarely more than 1% of the stock price. This means that dividend is more smoothly spread out over time with BTC stocks than it is with regular stocks, so the price effect of dividend on BTC stocks is also more smooth, so no noticeable drops after each dividend. Most stocks don't have enough liquidity anyway for sub-1% fluctuations due to dividend to be visible.

[bitzox]

Heh, I had no idea they gave themselves so much padding. The second line seems odd considering they don't even charge fees (currently?).

I doubt it'll ever happen, but a man can dream about a long vacation outside the range of cellular phones...  Being a contract and all I felt it was prudent wording.

The second line there used to be fees, and there's still the potential later for there to be fees.  It's not very likely.  (Extremely unlikely actually)  But it didn't hurt to leave it in.

Cheers.

Just a simple side question on btct.co, when dividend X of a stock (e.g. ASICMINER-PT) is paid, will the exchange immediately deducts X from the current stock price?  Just like real stock market?

Thanks in advanced to anyone who answers.

In the US this is not the case. Any order you have on file with your broker should lower by the dividend amount, according to FINRA regulations, but the price of the security does not immediately lower necessarily. That repricing is left up to market forces and with the amount of HFT funds and arbitrage hedge funds out their it is usually the case. However, it is not automatic.

I believe that in Europe they do automatically adjust the price to what is know as the ex-dividend price, but that really isn't my specialty so I couldn't tell you 100% upon further research i found this not to be the case. It looks like back when stock prices where computed in 1/8's and computers were less robust they may have automatically reduced the price by the dividend at the ex dividend date, but no longer.

[bitzox]

which means that trades will anticipate the upcoming dividend into their valuation of the stock and just before the dividend payout date, the stock has an increased price that reflects the imminent dividend.

This isn't entirely accurate. The dividend amount is already included in the valuation by professional traders. A dividend is just a transfer of cash from the company's balance sheet to the shareholders, thus the cash is already included in the price. What happens is that after a dividend is announced people will bid up the price because they want to get in on the dividend, the sellers are usually professionals that realize that the dividend is already included in the market price and thus doesn't justify a significantly higher price. After the dividend is paid people will sell the stock and it will tend to reach equilibrium at a price roughly at the price before the dividend-the dividend per share. But at the end of the day price is determined by supply and demand so the size of the dividend will determine the volatility of price. More people are likely to buy a stock that's announced a 5% dividend than a .5% one. A great many of the dividends in the US are predetermined and relatively small so their will be minimal price fluctuation even when a dividend is announced.

[joele]

How many days of dividend before the Dividend Yield Estimates will show up in the history?

[burnside]

I know I've harped on this before, but it would be GREAT if the manual threshold for withdrawals was a lot higher for people with 2fa on everything. Maybe like 50btc?  Pweeeeeez!?

I would love to be able to do that.  But 50 BTC would be the entire hot wallet most of the time. 

I know people don't care for the manual withdrawals.  They're not fun to process either.  We just can't risk making ourselves a hacking target like that.  Too many sites (recently vircurex) have gone down the drain because they leave too much exposed.

The problem I have is the manual withdrawal forces me to trade less on BTCT.co, it means I am exposed to too much time risk.

50BTC for the hot wallet seems awfully low to me as well. This means that you probably process more manual withdrawals than automatic ones...

It seems like overkill to me, but I'm not the one running the exchange I guess, so I plead some ignorance.

Either way, higher manual withdrawal limits is the single biggest feature request on BTCT.co for me, by a longshot.

I completely understand.  This is especially true when trying to arb, where the quickest to move will see the best profit.

50 BTC is where I think the balance is between quick access for the average user, and security for the site.  I know this doesn't seem like much, but the site does not have any kind of insurance policy or fund, so it's pretty important to keep it low.  I am confident that this approach is balanced and prudent.

The site has grown so much that I think what we need is someone involved that can take care of things full time.  Trick is... how do you vet applicants?  The risk of employee theft scares the crap outta me.    If we could find the right person though, then the site wouldn't need a hot wallet at all, and all withdrawals could be manually processed from offsite somewhere.

[burnside]

How many days of dividend before the Dividend Yield Estimates will show up in the history?

I think it requires 30 days.

Also note that issues with low volumes don't have very good estimates.

Cheers.

[ThickAsThieves]

Why is TAT.ASICMINER ordering frozen at the moment?

EDIT: I see at least some other people are successfully making orders, but the asset is frozen for me  :/

[ThickAsThieves]

It seems to be unlocked for me now. Luckily no major trades were missed, but do you have any idea what happened?

[burnside]

Why is TAT.ASICMINER ordering frozen at the moment?

EDIT: I see at least some other people are successfully making orders, but the asset is frozen for me  :/

Any error messages?

I know we ran into the bitcoind performance wall again several times earlier today.  I'm getting closer to being able to do trades without it, but not quite there yet.

[ThickAsThieves]

Why is TAT.ASICMINER ordering frozen at the moment?

EDIT: I see at least some other people are successfully making orders, but the asset is frozen for me  :/

Any error messages?

I know we ran into the bitcoind performance wall again several times earlier today.  I'm getting closer to being able to do trades without it, but not quite there yet.

No error messages that I could see. I tried logging out and logging in, which allowed me to make 1 order and then froze again. I logged out/in a second time, but no luck that time. I also tried using another browser, no luck.

It's cleared up totally now though.

[ThickAsThieves]

Now I'm locked out of AM-PT.

EDIT: Locked out of TAT.AM as well...

EDIT: now both are clear.

[ThickAsThieves]

Alright, this time it cost me.

AM-PT was freezing me out while trying to post bids and I missed a juicy selloff...

EDIT: Pretty sure it's an issue with 2fa on ordering.

[Deprived]

Alright, this time it cost me.

AM-PT was freezing me out while trying to post bids and I missed a juicy selloff...

EDIT: Pretty sure it's an issue with 2fa on ordering.

Don't think it's to do with 2fa on ordering.

The problem I'm seeing today is that at times it's failing to obtain the balance of shares OR cash on ordering screens.  So for example just now I was unable to place orders at all on DMS.PURCHASE (from the issuing account) as when the page loaded it showed:

Balance: ฿ / Reserved: ฿ 0 / Available: ฿ 0
Other Reserved: ฿ 0 / Max To Avoid Order Cancels: ฿ 0

Notice it isn't showing a Balance of 0, but no balance at all.

Here's actual balance (from top of screen) :  Balance: 597.51181134

I've had same thing on the selling side as well - where it shows no share balance.

It basically seems to be timing out on reading data - then blocking placing orders as it doesn't think you have anything to buy or sell.  It fixes itself after after a few refreshes.  Depending on browser the page either doesn't load (what you're seeing) or does load but with missing data (what I'm seeing usually - though I've had the not loading at all problem in the past).

I'd guess it's all down to the strange policy of querying the BTC wallets rather than having that data store in a table (with a cronjob to add to the table when deposits are found and regularly check for block-chain forks etc).  That seems to be the main bottle-neck that's crippling performance.

[FloatesMcgoates]

I am running into a glitch where on the screen for a particular security I am not being displayed the correct amount of shares I own if I have one open ask order up. If I have say 50 shares and I have 30 on an open sale order, It will not say I have 20 shares left but will display

Shares: / Reserved: / Available: 0


As soon as I cancel my order then the correct numbers will display, but presently I seem unable to have multiple open orders at different price points because of this glitch.


Edit: Scratch that it appears to have fixed itself (?)