[BTC-TC] Virtual Community Exchange [CLOSED]

[burnside]

For anyone who wants a sneak peek at the API, it's up on LTC-GLOBAL!

Announcing... the new OAuth 1.0a Trade API Beta!

FAQ Entry here: https://www.litecoinglobal.com/faq?tab=tab5
I wrote a super-simple demo client.  You can try it out in test mode here: https://www.litecoinglobal.com/burnside-exchange-client/
Download the demo code here: https://www.litecoinglobal.com/dl/burnside-exchange-client_0.8.zip
Account API Configuration page here: https://www.litecoinglobal.com/account?tab=tab4

Anyone familiar with OAuth 1.0 & PHP should be able to get it up and going in no time.  (Eg: Twitter is OAuth 1.0.)

I'm going to leave it on just LTC-GLOBAL for now.  After we've hammered on it for a while (week or so?) we'll also roll it out to BTC-TC.

I imagine anyone wanting to run it in alternate languages could extract what they need from the PHP code pretty easily, but I'll be updating the FAQ with more details about the endpoints and POST parameters it accepts before too long.

Cheers.

I'm sure there will be a few kinks to work out, but once we've run it for a while and we're convinced it's solid, we'll bring it to BTC-TC.

Cheers.

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[burnside]

This came in via PM today.  A couple of really good questions so I'm replying here for everyone's benefit.

Hello Burnside, hope your businesses goes well

My partner just mentioned how can I get my money back, and where I have them stored, when I use your sites litecoinglobal.com and btct.co
And I looked at the FAQ and there is defined:

"What happens if all your servers are seized/stolen?
 We will reimburse you as best we can. You may lose some of your coins if we go bankrupt.

 The asset issuers already have all the data they need to move to another exchange.

What happens if your servers are compromised?
 We will reimburse you as best we can. You may lose some of your coins if we go bankrupt.

 The asset issuers already have all the data they need to move to another exchange."

It means, if I had buyed some stocks, and server is stolen, I can always make transfer to another exchange if asset issuer doesnt chicken away with our money, and have mailed who owns and how much of his stocks or bonds, in e-mail.
While at the same time, any Litecoins (at litecoinglobal.com) or Bitcoins (at btct.co) I have in my account are effectively stolen with server.

Are you in process, to make it more leggit and less scary for investors by incorporating segregated accounts? Then in case of company default, individual ownership and coins are not lost in your company and people have their money/coins protected, separated from your exchange. All brokers I use have segregated accounts which are issured by local government.

On plus side, incorporating this inovation into your exchange will guarantee leading position among exchanges, and will spark interrest of serious investors, with huge cash.

here what I mean by segregated accounts, via definition
http://www.investorwords.com/7703/segregated_account.html

Business is going good.  I love that the site is growing and people are able to benefit from it!

I wrote the FAQ some time ago before I had split into hot wallet / cold wallet, so I will need to update that!  The way it is right now the hot wallet has under ~$1,000 equivalent coinage in it at any given time.  Everything above that is withdrawn to the cold wallet, which is on a linux box at another location behind a firewall.  The litecoind/bitcoind on that linux box don't run most of the time.  I just spin them up when I need to send coin back to the hot wallet for a big withdrawal.  With that in mind, the FAQ should likely read something like "If the server is stolen or compromised the coins lost will be a fraction of those on deposit, and if at all possible the company will reimburse whatever is stolen."

Addressing the rest of your post regarding segregated accounts.  We do use segregated accounts in the *coind daemons.  Though we do not use segregated wallets.  Backups of both the wallet dat, and a textual dump of the balances of the accounts in the wallet are done on a regular basis.

I hope that helps make sense of things!

Cheers.

[Monster Tent]

Why is RSM getting low votes?  We probably have the highest (MH/s)/BTC of any mining company on there.  We are going to reinvest 90% of profits into more ASIC's and we have been around over a year now.

I am yet to see any mining company that has published figures on their yearly profit or loss and the majority I doubt would have made much profit at all based on BTC invested, in fact it would show mining companies are the worst way to invest your coins compared to simply buying and holding coins.

[burnside]

Why is RSM getting low votes?  We probably have the highest (MH/s)/BTC of any mining company on there.  We are going to reinvest 90% of profits into more ASIC's and we have been around over a year now.

I am yet to see any mining company that has published figures on their yearly profit or loss and the majority I doubt would have made much profit at all based on BTC invested, in fact it would show mining companies are the worst way to invest your coins compared to simply buying and holding coins.

Quick case study, LTC-MINING:  (per share)

July 2012 IPO Price: 0.43
30d Avg Price: 0.39
7d Avg Price: 0.32
Current Bid: 0.3
6m Div Yield: 0.14397101

Granted, there's not much volume there, but if you bought at IPO and sold today, you'd be up over 3%.

Not that I'm going to do it, but if I wanted to discontinue the asset and buy back today according to the contract it'd be 105% of 0.49 (highest traded price, last 14 days) or 0.5145.  In which case you'd be up over 50%.

It's not going to make you rich, but I don't think all mining is a total loss.

Cheers.

[burnside]

Gox runs their own yubikey server. Then they dont have to rely on a third party.

Can other sites use it?  Or are the gox yubikeys essentially gox-only?

I think its insecure to use them on different sites ? Thats why they tell you not to use non gox yubikeys to login.

Appreciate the info.  I've ordered a couple.  Will play with 'em when they arrive. 

Cheers.

This is awesome 

I got my Yubikeys in the mail.  They're pretty cool little devices. 

I have what seems to be functional login support up and going for them.  You can configure your Yubikeys in the Account => Yubikeys tab.  So far as I know, it will only work with Yubikeys that are out of the box, YubiCloud compatible.

Hopefully some of you with Yubikeys can try it out and let me know how it goes!

Cheers.

[EskimoBob]

Feature request:

https://btct.co/api/ticker/COGNITIVE

{"ticker":"COGNITIVE","latest":"4@0.33","bid":"0.305","ask":"0.33","24h_low":"0.325","24h_high....

Burnside, can you please add the "last" price only to JSON feed. Only the price.

and same for https://www.litecoinglobal.com/api/ticker/*

[🏰 TradeFortress 🏰]

Umm, the calculator has being broken for a few days now..

[burnside]

Feature request:

https://btct.co/api/ticker/COGNITIVE

{"ticker":"COGNITIVE","latest":"4@0.33","bid":"0.305","ask":"0.33","24h_low":"0.325","24h_high....

Burnside, can you please add the "last" price only to JSON feed. Only the price.

and same for https://www.litecoinglobal.com/api/ticker/*

Yeah, I can probably do that.

Umm, the calculator has being broken for a few days now..

Can you tell me more about where you're seeing an issue?  I just tried it in firefox and it seems ok.

Note that it's just a simple calculator, it doesn't take the order book into account.  (it's on the todo list)

Cheers.

[burnside]

Usagi sent me a great suggestion.

There was a limit of 4 digits after the decimal on orders.  This has been extended to 6 digits, to better support assets like MPOE.

Cheers.

[btharper]

Usagi sent me a great suggestion.

There was a limit of 4 digits after the decimal on orders.  This has been extended to 6 digits, to better support assets like MPOE.

Cheers.

I'd wondered about that in general while the important bits like the wallet are precise to the satoshi, why the discrepancy for asset prices?

[burnside]

Usagi sent me a great suggestion.

There was a limit of 4 digits after the decimal on orders.  This has been extended to 6 digits, to better support assets like MPOE.

Cheers.

I'd wondered about that in general while the important bits like the wallet are precise to the satoshi, why the discrepancy for asset prices?

It was designed on LTC, where anything after a decimal or two is noise.  (So I allowed 4 decimals)

GLBSE had a 5 digit limit, because, again, much more than that was noise.  Now that MPEx is doing assets with 100,000,000 shares, (!?) it makes the satoshi's a little more important.  But I still want to keep out the noise.  (Where noise is silly little bids where you undercut someone by a single satoshi.)

I'll look into going the full 8 digits.  It's a simple config option, but it might require some reworking of the layout.  I don't have a lot of space in some places.

Cheers.

[burnside]

Feature request:

https://btct.co/api/ticker/COGNITIVE

{"ticker":"COGNITIVE","latest":"4@0.33","bid":"0.305","ask":"0.33","24h_low":"0.325","24h_high....

Burnside, can you please add the "last" price only to JSON feed. Only the price.

and same for https://www.litecoinglobal.com/api/ticker/*

Ok, should have "last_qty" and "last_price" fields in there now.  I can't really change the formatting of current fields, as there's already quite a few people out there using it.

Also did a mini-revamp on the asset pages, trying to simplify them a bit.

Cheers.

[🏰 TradeFortress 🏰]

Errors in firefox for the calculator:

Timestamp: 2/12/2013 9:32:39 PM
Error: ReferenceError: order_calculate is not defined
Source File: https://btct.co/security/S.MPOE-PT
Line: 1

[burnside]

Errors in firefox for the calculator:

Timestamp: 2/12/2013 9:32:39 PM
Error: ReferenceError: order_calculate is not defined
Source File: https://btct.co/security/S.MPOE-PT
Line: 1

Do you have javascript turned off?  order_calculate() is defined in a js file loaded via enhance.  It's all super simple, even works in IE 8.    (but looks horrible!)

I wonder too if maybe you have an antivirus proxy or something that doesn't want to load it?  Seems like a stretch, but it's possible I guess.

Cheers.

[EskimoBob]

Feature request:

https://btct.co/api/ticker/COGNITIVE

{"ticker":"COGNITIVE","latest":"4@0.33","bid":"0.305","ask":"0.33","24h_low":"0.325","24h_high....

Burnside, can you please add the "last" price only to JSON feed. Only the price.

and same for https://www.litecoinglobal.com/api/ticker/*

Ok, should have "last_qty" and "last_price" fields in there now.  I can't really change the formatting of current fields, as there's already quite a few people out there using it.

Also did a mini-revamp on the asset pages, trying to simplify them a bit.

Cheers.

Thank you. Now I can use it for google spreadsheets too.
 
 

[🏰 TradeFortress 🏰]

Errors in firefox for the calculator:

Timestamp: 2/12/2013 9:32:39 PM
Error: ReferenceError: order_calculate is not defined
Source File: https://btct.co/security/S.MPOE-PT
Line: 1

Do you have javascript turned off?  order_calculate() is defined in a js file loaded via enhance.  It's all super simple, even works in IE 8.    (but looks horrible!)

I wonder too if maybe you have an antivirus proxy or something that doesn't want to load it?  Seems like a stretch, but it's possible I guess.

Cheers.

Could be adblock? Not on that machine at the moment through

[burnside]

Errors in firefox for the calculator:

Timestamp: 2/12/2013 9:32:39 PM
Error: ReferenceError: order_calculate is not defined
Source File: https://btct.co/security/S.MPOE-PT
Line: 1

Do you have javascript turned off?  order_calculate() is defined in a js file loaded via enhance.  It's all super simple, even works in IE 8.    (but looks horrible!)

I wonder too if maybe you have an antivirus proxy or something that doesn't want to load it?  Seems like a stretch, but it's possible I guess.

Cheers.

Could be adblock? Not on that machine at the moment through

I've moved the js file out of enhance, maybe the fact that javascript is loading more javascript is an issue somehow.

Cheers.

[🏰 TradeFortress 🏰]

Works now! Thanks

I saw the new motion for spending 25% of revenues on advertising. What is the revenue? What are the expenses, etc? I think it would be a good idea to do monthly statements at the very least.

[burnside]

Works now! Thanks

I saw the new motion for spending 25% of revenues on advertising. What is the revenue? What are the expenses, etc? I think it would be a good idea to do monthly statements at the very least.

The motion passed, but I have not started doing any advertising.  I wanted to get some key features out of the way first to make sure any new users are happy with the feature set.

I've been doing semi-statements with most dividends, but they're in the LTC-GLOBAL thread here:

http://forum.litecoin.net/index.php/topic,551.0.html

I'm going to have to break down and do some kind of spreadsheet or google docs or something so we have better tracking over time.  Or maybe a new page on the site just for the financial report.

Cheers.

[btharper]

Usagi sent me a great suggestion.

There was a limit of 4 digits after the decimal on orders.  This has been extended to 6 digits, to better support assets like MPOE.

Cheers.

I'd wondered about that in general while the important bits like the wallet are precise to the satoshi, why the discrepancy for asset prices?

It was designed on LTC, where anything after a decimal or two is noise.  (So I allowed 4 decimals)

GLBSE had a 5 digit limit, because, again, much more than that was noise.  Now that MPEx is doing assets with 100,000,000 shares, (!?) it makes the satoshi's a little more important.  But I still want to keep out the noise.  (Where noise is silly little bids where you undercut someone by a single satoshi.)

I'll look into going the full 8 digits.  It's a simple config option, but it might require some reworking of the layout.  I don't have a lot of space in some places.

Cheers.

About what I figured, and pretty in line with the way things have to be. While 1 satoshi bids would be nice with higher volume, it can be annoying compared to fewer digits. Maybe something to be tuned per asset in the future? Things that expect to trade around 1 BTC/share have less reason to use several decimals than something trading around 0.001 would (I'm assuming some of the MPEx stuff is around that order of magnitude).