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Author Topic: Dear Mt. Gox. Please make your accounting easier to understand.  (Read 1277 times)
Horkabork
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June 06, 2011, 11:05:24 PM
 #1

This is an example of a trade at Mt. Gox:


However, that transaction was actually for 20btc at $18.2101 not 19.87BTC bought at $18.3292. On first glance, because both the rate is higher than I bid and the BTC is lower, it looks like Mt. Gox is charging me more for less BTC. I might expect one of these figures to be altered to include the 0.65% fee, but not both. It took me a minute to understand that 20*$18.2101=19.87*$18.3292=$364. In other words, I'm paying what I should pay, in dollars, but I get less BTC. The amount of BTC that I got, 19.87btc, is exactly 0.0065*20. So that's where the fee is buried I guess.

This is pretty confusing, and bad record-keeping because I'd like to know actually what I bid so I can make better and quicker decisions about where to set offers in order to at least recover fees. This is the old issue of the spread or cycle versus two times the fees (for trading to BTC and back). The fees should be settled in an entirely different column, not built-in. However, ticker data seems to show my correct bid of 20BTC at 18.2101.

For that matter, why are both the BTC and the rate altered from my bid? If the fee is inbuilt, it should be one number or the other that is altered, not both. That's why, as I said, on first glance it looks like the rate was jacked up and I got less BTC than what I bid for, giving the illusion of a double-fee.

Mt. Gox, I love you and your master, MagicalTux, but I'd like to see this corrected, if possible. For that matter, some folks on IRC and I think it would be pretty clever to have 2 big red buttons at the top of the trade page that say "Sell All BTC" and "Buy Max BTC" because doing math is hard when I'm hyped up on caffeine and corn nuts and my eyes are twitching and I need instant gratification. Also I want a pony.

Does anyone else have such issues or is it just me? If that question is too boring, then just tell me what your favorite technical indicator or chart study is. Mine is probably MACD, but mostly because it sounds like a 1980s rapper.

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gusti
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June 06, 2011, 11:10:59 PM
 #2

+1
transaction presentation need some work.

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Raulo
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June 06, 2011, 11:15:21 PM
 #3

transaction presentation need some work.

Transaction presentation is one thing but another (more important) is that fees are subtracted in a weird way. From the  BTC balances when buying and from dollar amount when selling. If you want to buy 10 BTC, you actually have to make an order of 10.06 BTC and you still won't get exactly 10. I would like to have fees from the dollar amounts always and shown at the order page.

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June 07, 2011, 11:01:07 PM
 #4

Does this only happen with buy transactions? I placed an order to sell 1 BTC at 19.25 and the order was filled as 1 BTC for 19.125. This makes sense because the transaction fee of .65% is roughly .125 USD, 19.25 - .125 = 19.125. But when I order to buy 1 BTC at 19.1 was filled, it was filled as .99 BTC for 19.2649. Not only is the BTC lower, but the USD is higher too (just like you mentioned). But, this didn't happen for my sell order; it only happened for my buy order. So does this confusion only arise for buy orders?

To be more exact on my buy transaction:

Type              Description            Delta BTC   Delta USD   Total BTC   Total USD   
Bought BTC0.99 for 19.26490.993-19.130.9960.017

And not to mention that this exact transaction got filled twice! And I only placed an order to sell 1 BTC, but ended up buying 1.98 BTC and owing 19.12 USD (according to my currently displayed balance). Shed some light on that why don't ya.  Huh
HansMayer
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June 08, 2011, 02:11:07 AM
 #5

All we need is a popover asking "Do you really want to trade x BTC for y$, total (x*y)? [Yes/No]".
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June 08, 2011, 04:27:31 AM
 #6

All we need is a popover asking "Do you really want to trade x BTC for y$, total (x*y)? [Yes/No]".

Hell no. No extra clicking at the speed the market moves. Just add it the to the form and compute that way. Show purchase prices and effective prices and be done with it.

In fact here's the display I'd like to see:

Buy                Effective
Ask
Price
Number
Fee
Total

Sell
Ask
Price
Number
Fee
Total

Proposal: http://forum.bitcoin.org/index.php?topic=11541.msg162881#msg162881
Inception: https://github.com/bitcoin/bitcoin/issues/296
Goal: http://forum.bitcoin.org/index.php?topic=12536.0
Means: Code, donations, and brutal criticism. I've got a thick skin. 1Gc3xCHAzwvTDnyMW3evBBr5qNRDN3DRpq
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