New exchange (Bitcoin Market)

[dwdollar]

That URL is bunk.

https://98.168.172.185/
https://www.bitcoinmarket.com

I just changed it.  I assumed that my ISP blocked port 443 along with 80, but evidently they do not.  The domain name is now pointing directly to my IP Address.

[dwdollar]

Is there a human volume to your market, do you have population numbers as of right now DW?

There are 9 people signed up but only 3 have made a deposit so far.  Myself makes 4.  Looks like we had our first real trade around noon!

[dwdollar]

It looks like you can only have one open order at a time, is that correct? Is it desirable to add the feature of allowing multiple open orders?

Yes that's correct.  I don't think it would be too difficult to add multiple orders, but that might be awhile.  There's a lot of other things I need to automate first.

[dwdollar]

Sorry for the address changes.  I should have forewarned everyone.

[matonis]

Hi,

Very exciting news about the momentum building for Bitcoin.  I just posted a summary on my economics blog, "The Monetary Future", which can be found at http://themonetaryfuture.blogspot.com/2010/03/bitcoin-peer-to-peer-electronic-cash.html

The blog focuses on digital online exchangers and anonymous digital currencies penetrating the market so that we may all protect our financial privacy. Should be interesting and entertaining for many on this forum.

It is always amazing to me that the same people respecting the anonymity of a paper $100 bill do not seem to respect that same privacy when it is extended into a 'digital cash' equivalent. A digital bearer certificate, privately issued, would emulate the anonymity and untraceability features of a paper bill just like the ones in use today. The cryptographic technology exists now. Privacy should not be sacrificed simply for the sake of going digital.

RESIST DIGITAL MONEY......UNLESS IT'S ANONYMOUS

http://themonetaryfuture.blogspot.com

[dwdollar]

Hi,

Very exciting news about the momentum building for Bitcoin.  I just posted a summary on my economics blog, "The Monetary Future", which can be found at http://themonetaryfuture.blogspot.com/2010/03/bitcoin-peer-to-peer-electronic-cash.html

The blog focuses on digital online exchangers and anonymous digital currencies penetrating the market so that we may all protect our financial privacy. Should be interesting and entertaining for many on this forum.

It is always amazing to me that the same people respecting the anonymity of a paper $100 bill do not seem to respect that same privacy when it is extended into a 'digital cash' equivalent. A digital bearer certificate, privately issued, would emulate the anonymity and untraceability features of a paper bill just like the ones in use today. The cryptographic technology exists now. Privacy should not be sacrificed simply for the sake of going digital.

RESIST DIGITAL MONEY......UNLESS IT'S ANONYMOUS

http://themonetaryfuture.blogspot.com

Excellent.  It seems like many of the Austrian School are stuck on gold as the only "true" currency.  While that may be true in the physical world, it will never be able to compete with fiat systems in the digital world.  There needs to be an alternative.  I hope many of them come to understand that currencies like Bitcoin don't want to replace gold, but to augment it in the digital world.

[ihrhase]

Excellent.  It seems like many of the Austrian School are stuck on gold as the only "true" currency.  While that may be true in the physical world, it will never be able to compete with fiat systems in the digital world.  There needs to be an alternative.  I hope many of them come to understand that currencies like Bitcoin don't want to replace gold, but to augment it in the digital world.

The people claiming to be Austrians that denounce any currency over another are not Austrians at all, they are people introduced into economics by Ron Paul, who has no interest in discussing Austrian theory of money, only the Austrian theory of government and money...

Gold is a terrific way to control the government spending, as they only have a limited resource...

As for economy as a whole, even paper currency is not "unworkable" so long as there is a competition, the problem with government money is fiat legislation and credit expansion...

[dwdollar]

I'm trying something new...

From now on cash will be sent directly from the Bitcoin buyer to the Bitcoin seller using PayPal.    When a trade is conducted on the market, an email is sent to the buyer instructing him/her to send money to the seller.  When the seller confirms they've received payment, the Bitcoins are released to the buyer.  (I hold the Bitcoins).  If a trade "goes bad", I will refund the Bitcoins to the seller.  Bitcoin deposits and withdrawals are automated.  You can find more info on the site.

This is experimental.  It's going to have some bugs, so please bear with me.

[theymos]

PayPal payments can be easily reversed. Unless an irreversible system like Liberty Reserve is used, it would be better for you to handle the payments.

Does BitCoin Market fill orders partially if the entire amount is not available?

[dwdollar]

PayPal payments can be easily reversed. Unless an irreversible system like Liberty Reserve is used, it would be better for you to handle the payments.

Does BitCoin Market fill orders partially if the entire amount is not available?

Yes, partial orders are filled, if the whole amount is not available.

Charge-backs are a weakness of this system.  I've thought about ways to help rectify this weakness.  I've come up with two so far...

1)  A user rating system, based on past trades and/or time.
2)  Forcing the buyer to keep Bitcoins in his/her account for a period of time as collateral.

I haven't seen a fool-proof exchange method yet.  Some would argue that LR can't be trusted or a centralized account is begging to be confiscated.  Who knows...  But I do know designing something that fits the needs of a large audience is hard work, especially when our community is still so small.  PayPal is fairly common to all.

[sirius]

Dwdollar, you might want to redirect http connections to Bitcoin Market to https. Now they just timeout.

Great service btw. I like the price graph. Can you make it show a continuous line instead of dots?

[lachesis]

Sirius, I don't think he can redirect them. His ISP blocks port 80, so he never even sees our attempted connections.

[dwdollar]

Yeah, my ISP blocks port 80.  I had a landing page on GoDaddy, but took it down a while back.

The Historical chart is suppose to be in Open-High-Low-Close format.  But, if the price doesn't move, it ends up looking like a dash.  I've never been able to get the scaling right either (which doesn't help).  Eventually, I want to abandon matplotlib and use a JQuery plug-in.  Some interactive charts might be fun to use!

[Svick]

I can't connect to https://www.bitcoinmarket.com/ nor to https://98.168.172.185/. Is the site down?

[dwdollar]

It's up, but another busy day.  I'm working on it as fast as I can.

[Stone Man]

It looks like the Alexa site rank has broken the 400,000 barrier.
http://www.alexa.com/search?q=https%3A%2F%2Fwww.bitcoinmarket.com%2F&r=site_screener&p=bigtop

Just for comparison, one of the leading websites for talk radio in my area is only at 600,000 and they charge $5,000 / ad on their site.

It looks like your hard work is going to pay off!

[dwdollar]

It looks like the Alexa site rank and broken the 400,000 barrier.
http://www.alexa.com/search?q=https%3A%2F%2Fwww.bitcoinmarket.com%2F&r=site_screener&p=bigtop

Just for comparison, one of the leading websites for talk radio in my area is only at 600,000 and they charge $5,000 / ad on their site.

It looks like your hard work is going to pay off!

Oh wow, I had no idea I was even ranked!  Thanks for sharing that!

[Insti]

The SHA1 fingerprint of your SSL certificate is 5A 69 7D 11 98 65 0A FE BA 4A 1C DA 90 4E 8B B9 87 1F A6 88, correct?

Thanks for this service by the way.

Yep, that's correct.

Has the SHA1 fingerprint changed? I'm not getting this value when I check it.
(firefox seems to not be letting me cut and paste what I am getting...)

[dwdollar]

The SHA1 fingerprint of your SSL certificate is 5A 69 7D 11 98 65 0A FE BA 4A 1C DA 90 4E 8B B9 87 1F A6 88, correct?

Thanks for this service by the way.

Yep, that's correct.

Has the SHA1 fingerprint changed? I'm not getting this value when I check it.
(firefox seems to not be letting me cut and paste what I am getting...)

Yes, it has changed.  That was the self-signed certificate I was using a while back.  The one I use now is verified by StartCom.

[FreeMoney]

Are we having any PayPal charge backs? I heard people can charge back for a long period, it would be awful if someone did thousands in transactions in a month and charged it all back. What is PayPal's procedure for this? How will we show goods provided?

When we send PP are we okay to do it as a gift to avoid fees?

Are you considering a way to keep trader's USD on site if they want. It seems silly to buy coins with PayPal, pay fees, sell coins, pay fees, repeat. If I could just move a chuck to a safe, no fee place I would trade a ton.