Seal (OP)
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April 27, 2013, 12:52:06 AM Last edit: October 01, 2013, 04:41:57 AM by Seal |
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Introducing an intuitive trading system designed simplify leveraged (geared) trading. Our modelOur platform is designed to allow the trading of bitcoin using bitcoin without the involvement of fiat. Long and Short?Yes that is correct, for both long and short positions to be opened, no USD or Fiat is required. This was done to take the headache out of managing multiple currency accounts and removes the risk of fiat transfers or holdings. How is that possible?When a position is opened, a deposit is taken (this acts as collateral). Our trading engine will then place a leveraged open market order. Upon liquidation, PnL will be calculated on the (closed) market order automatically. The deposit will be returned on close and profits paid out (or losses deducted). Free trading for day tradersTrades opened and closed within 24 hours will not be charged. Funding is charged at a daily rate for every subsequent 24 hour period. Who's behind it?A number of individuals helped create the algorithms required to place open market orders without the dependency on CFDs or futures using a privately traded reserve. Most of the coding was done by myself. See our press release here. Each of us brings a wealth of experience in finance (retail and investment banking), regulation and accounting. SecurityNo bitcoins or bitcoin private keys are held on our server. Withdrawals are handled from an offline wallet after daily reconciliations are performed against each and every account. FundingBTC.sx is funded by $150,000 of private equity. Crunchbase.Fractional ReserveWe do not operate on a fractional reserve banking model. Tier 1 CapitalBTC.sx is funded privately. We operate with a tier 1 total capital ratio level of 100% minimum. Where?Visit BTC.sx. *Update* - 5th June 2013 - Private beta has ended. Regular account sign-ups welcome.
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Seal (OP)
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April 27, 2013, 12:52:45 AM |
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Reserved
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MPOE-PR
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April 28, 2013, 05:50:54 PM |
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Who's behind it? Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.
Surely. And Justin Timberlake. Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg.
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kakobrekla
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April 29, 2013, 04:12:21 PM |
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Got beta access, so far not looking too good. Spread is huge, but thats just one of 100 things that bother me (lots on a security side of things, like changing your pass w/o the need of need to know the current one, no 2FA, list goes on, have you ever made a secure website before?). One of the more funny one is "Trade without limits" on the front and in the FAQ: "Trade Limitations: A maximum of 2 positions may be opened in both directions. This is not recommended unless it is part of a hedging strategy.". I could (once and if it goes out beta) create 100 accounts and go around this stupid and arbitrary limit?
Anyway, loaded in some change and lets see how it goes.
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kakobrekla
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April 29, 2013, 04:57:02 PM |
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Ok, so I went short, price dropped a buck in that moment (could be, it happens) but the fucked up thing is, the price that I opened a position at is not listed in the open positions table. WHAT THE FUCK?
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kakobrekla
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April 29, 2013, 07:46:29 PM Last edit: April 29, 2013, 11:18:20 PM by kakobrekla |
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Update, invalid order is still opened (it doesn't have entry price), made a full balance withdrawal which was processed (while having an order opened) but its not showing in blockchain. Update: Withdrawal processed, trading engine does not work though. TC.sx Trade History
Trade Opened OpenPrice Direction Size Deposit Stop Closed ClosePrice Liquidate FundingCost Profit 1 2013-04-29 17:53:46 0.00000 Sell 0.0001 0.10000 0.00000 2013-04-30 00:16:47 145.13561 user 0.00000000 0.00000000
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Seal (OP)
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April 30, 2013, 10:16:04 AM |
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Got beta access, so far not looking too good. Spread is huge, but thats just one of 100 things that bother me (lots on a security side of things, like changing your pass w/o the need of need to know the current one, no 2FA, list goes on, have you ever made a secure website before?). One of the more funny one is "Trade without limits" on the front and in the FAQ: "Trade Limitations: A maximum of 2 positions may be opened in both directions. This is not recommended unless it is part of a hedging strategy.". I could (once and if it goes out beta) create 100 accounts and go around this stupid and arbitrary limit?
Anyway, loaded in some change and lets see how it goes.
Hey kakobrekla, I appreciate the suggestions. A number of improvements will be made within the next few days to sort out these issues. I'm in the process of reviewing some 2FA providers to help with the site's security, at this stage our preference is Authy. For me, the need for an additional dongle rules out Yubikeys and I have reservations about using Google's two factor authentication due to the handling of additional keys. Since the beta testing has started, we've placed almost ~80 trades one of which bugged out. Unfortunately that one was yours. Can you send me an email at support@btc.sx with any further details of the short position you tried to place. I'm on it. P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.
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kakobrekla
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April 30, 2013, 12:58:15 PM |
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I don't understand this completely, can you elaborate where my current balance is from? Also, one of the basic functionalities, outgoing address/tx id is kinda missing in this table. BTC.sx Account History
Trade Entry Type Amount Date/Time 2 TradeShort - Deposit -0.10000000 2013-04-30 09:06:11 1 TradeShort - Deposit 0.10000000 2013-04-30 00:17:01 1 Trade - PnL 0.00000000 2013-04-30 00:17:01 Withdrawal -0.30000000 2013-04-29 19:55:33 Deposit 0.15000000 2013-04-29 17:42:40 Deposit 0.15000000 2013-04-29 15:52:14 Is this normal?
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Seal (OP)
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April 30, 2013, 03:37:31 PM |
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I don't understand this completely, can you elaborate where my current balance is from? Also, one of the basic functionalities, outgoing address/tx id is kinda missing in this table. BTC.sx Account History
Trade Entry Type Amount Date/Time 2 TradeShort - Deposit -0.10000000 2013-04-30 09:06:11 1 TradeShort - Deposit 0.10000000 2013-04-30 00:17:01 1 Trade - PnL 0.00000000 2013-04-30 00:17:01 Withdrawal -0.30000000 2013-04-29 19:55:33 Deposit 0.15000000 2013-04-29 17:42:40 Deposit 0.15000000 2013-04-29 15:52:14 Is this normal? Not at all normal. Your account has been fixed.
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kakobrekla
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April 30, 2013, 08:51:08 PM Last edit: April 30, 2013, 11:22:26 PM by kakobrekla |
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Not at all normal. Your account has been fixed.
How was it fixed? Now I see the following: Updated: 2013-04-30 21:47:24 Timezone: Europe/London Account: kakobrekla Account Balance: 0.02320829 BTC
BTC.sx Account History
Trade Entry Type Amount Date/Time 1 TradeShort - Deposit 0.10000000 2013-04-30 16:20:01 1 Trade - PnL 0.02320829 2013-04-30 16:20:01 1 TradeShort - Deposit -0.10000000 2013-04-30 09:06:11 Withdrawal -0.30000000 2013-04-29 19:55:33 Deposit 0.15000000 2013-04-29 17:42:40 Deposit 0.15000000 2013-04-29 15:52:14
-------------------------------------------------------------- Updated: 2013-04-30 21:47:09 Timezone: Europe/London Account: kakobrekla
BTC.sx Trade History
Trade Opened OpenPrice Direction Size Deposit Stop Closed ClosePrice Liquidate FundingCost Profit 1 2013-04-30 09:06:07 144.13005 Sell 0.0001 0.10000 154.87559 2013-04-30 16:17:50 141.84600 user 0.00000000 0.02320829
------------------------------------------------------------------------------------------------ Yet my balance/net value shows : 0.02320829. I think this means I was in short position with zero balance/coverage? P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc. Sure, you can use #bitcoin-assets (which is a place you should be at if you run a bitcoin business) donation address http://blockchain.info/address/1B6NP9eb4RKy9tRrXYCJnNcenZkrt5Q2gb Btw, the sql query that grabs data and posts it here is fucked: https://btc.sx/calls/accountHistory.php (the 'order by' part, you should not order it by date which is same in many cases which means it will randomize results inside same datetime groups, which is how its NOT done, ever.)
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alan2here
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May 24, 2013, 11:16:03 AM |
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I'm on the Beta and would like to invest some BTC when the bugs are ironed out, this should include the server side ones too, could you expand your team coder wise?
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GraphicImpulse
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May 24, 2013, 01:13:41 PM |
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Who's behind it? Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.
Surely. And Justin Timberlake. Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg. LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore).
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kakobrekla
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May 24, 2013, 01:22:00 PM |
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P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.
Still waiting... some ppl follow their obligations and responsibilities easier than others. (its not even about the money if you dont get it)
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Seal (OP)
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May 29, 2013, 12:03:58 PM |
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P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.
Still waiting... some ppl follow their obligations and responsibilities easier than others. (its not even about the money if you dont get it) Apologies for the delay, the site's growth has been keeping me busy. 0.1btc has been sent and is rightly yours kakobrekla. I've been spending the last few weeks getting some valuable advice from some accelerator/seed funds based out in California and journalists from all over. All I can say is watch this space. In the first two weeks of private beta our users placed $250,000 of trades. The growth has been incredibly encouraging. We are rapidly approaching our next milestone of $1/2 mill in trades. Keep your suggestions coming. In the mean time, I'll be working on some new features and adding to some new financial products which I am really excited about.
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GraphicImpulse
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May 29, 2013, 05:33:41 PM |
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There's no way to deposit.
Under deposit is a non-working image. Under that is withdraw.
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monsterer
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May 29, 2013, 06:25:36 PM |
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Where are you getting your price-feed from?
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bitcoinbear
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May 29, 2013, 06:48:13 PM |
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Who's behind it? Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.
Surely. And Justin Timberlake. Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg. LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore). LOL. Most of assets on BTCT and Bitfunder worth investing in are just pass-throughs to assets on MPEx, which apparently "barely anyone uses anymore".
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Seal (OP)
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May 30, 2013, 12:14:49 AM |
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Where are you getting your price-feed from?
Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.
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Seal (OP)
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May 30, 2013, 12:18:38 AM |
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Who's behind it? Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.
Surely. And Justin Timberlake. Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg. LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore). LOL. Most of assets on BTCT and Bitfunder worth investing in are just pass-throughs to assets on MPEx, which apparently "barely anyone uses anymore". I respect anyone with the guts to go out there and set up a bitcoin business. The bitcoin economy needs it, and after all, we all want to see it succeed. I'm not interested in starting flame wars with anyone, even if you are a competitor. I'd appreciate it if feedback was at least a little constructive.
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monsterer
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May 30, 2013, 11:03:05 AM |
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Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.
Thanks One last question: what is to stop me using maximum leverage and then just buy and hold for 1 year?
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