Justsomeforumuser
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June 22, 2011, 10:15:56 AM |
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So you are in effect offering a 1:2 leverage (you say 50%)?
The instrument to be traded is BTC/USD?
How do even determine price, given that there are half a dozen exchanges?
How do you guarantee it?
Do you hold the customer accounts in BTC alone, or have a combo of internally convertible BTC / USD like at MtGox? => Are you effectively converting the currency or are these all USD based speculations on the value of BTC/USD? I.e. you place your position in USD and hold the account in USD, speculating on BTC, but never actually holding it..or, put differently yet, are you going to be a market maker or is every single trade routed through to the BTC exchange network? If so, are you aware that even if you say you have financial grade hardware, you might be unable to provide realtime fills? =>Are fills guaranteed? Are stops?
How live will live trading be, i.e. how fast would executions be?
Who is your regulatory oversight? Since you are USA based, how does it look with NFA, FDIC? Who insures your accounts?
How large will comission (or comission disguised as spread) be?
If I remember any more of the standard questions, I'll add them, but others should have the same DD in their mind..
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Ho-Hum.
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Enzo
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June 22, 2011, 10:16:46 AM |
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Umm We need more test coins to play with, I think I can probably sell 1 tBTC for over $9000 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Nobody is mining on testnet? Maybe tesnet bitcoins will have a real value... after all they are really needed for testing purpose
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ploum
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June 22, 2011, 11:20:02 AM |
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I registered and received my email in plain text!
Please, change that immediately. This is completely insane. Is there any of the exchanges here with at least someone understanding basic security?
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TKE406
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June 22, 2011, 11:39:26 AM |
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I applaud your creativity and entrepreneurship. However, I do not like the idea of the derivatives market. It would add even more volatility to something (read: the market) that is already bipolar.
Damn.. I knew it would happen eventually. How and why would this be good for the bitcoiners?
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killer2021
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June 22, 2011, 11:45:40 AM |
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I applaud your creativity and entrepreneurship. However, I do not like the idea of the derivatives market. It would add even more volatility to something (read: the market) that is already bipolar.
Damn.. I knew it would happen eventually. How and why would this be good for the bitcoiners?
No it won't. If someone loses their money in the markets then it doesn't effect everyone else, especially on btc. If one person loses, someone else gains. No bailouts here!
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Keyur @ Camp BX (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 22, 2011, 03:27:52 PM |
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I registered and received my email in plain text!
Please, change that immediately. This is completely insane. Is there any of the exchanges here with at least someone understanding basic security?
Done! Initial email with passwords was a testnet-only thing, because people tend to choose disposable, forgettable passwords for trials. We were going to disable it at livenet launch, but have gone ahead and done that now. "Forgot Password" email will be replaced with a reset-password link later this week. Thank you, Keyur
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Keyur @ Camp BX (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 22, 2011, 03:30:07 PM |
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Umm We need more test coins to play with, I think I can probably sell 1 tBTC for over $9000 ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Someone just fulfilled your wish with a massive Sell order! I am surprised testnet coins are so rare though. Thank you for trying out Camp BX! - Keyur
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Keyur @ Camp BX (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 22, 2011, 04:33:08 PM |
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So you are in effect offering a 1:2 leverage (you say 50%)?
The instrument to be traded is BTC/USD?
How do even determine price, given that there are half a dozen exchanges?
How do you guarantee it?
Do you hold the customer accounts in BTC alone, or have a combo of internally convertible BTC / USD like at MtGox? => Are you effectively converting the currency or are these all USD based speculations on the value of BTC/USD? I.e. you place your position in USD and hold the account in USD, speculating on BTC, but never actually holding it..or, put differently yet, are you going to be a market maker or is every single trade routed through to the BTC exchange network? If so, are you aware that even if you say you have financial grade hardware, you might be unable to provide realtime fills? =>Are fills guaranteed? Are stops?
How live will live trading be, i.e. how fast would executions be?
Who is your regulatory oversight? Since you are USA based, how does it look with NFA, FDIC? Who insures your accounts?
How large will comission (or comission disguised as spread) be?
If I remember any more of the standard questions, I'll add them, but others should have the same DD in their mind..
Hi JFU, Markets like FOREX "feel" like they have guaranteed stops due to daily liquidity of 4 Trillion dollars (In most other markets, GSL is merely a marketing term). Bitcoin economy is ~$27 million on a good day. So for forseeable future, stoploss is a best-effort algorithm. Camp BX performs real-time order matching for orders posted by users. Your account can hold both USD and BTC, and as you execute orders these balances will change to reflect the results. Once a matching order is found, the trade-execution happens on our server and is near instaneous (0.005 seconds per trade as of now). Bitcoins are not a regulated market yet so NFA / SEC are not in the picture, but our deposits are insured by FDIC. Hope this helps, Keyur
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Freakin
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 22, 2011, 04:47:59 PM |
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I registered and received my email in plain text!
Please, change that immediately. This is completely insane. Is there any of the exchanges here with at least someone understanding basic security?
Done! Initial email with passwords was a testnet-only thing, because people tend to choose disposable, forgettable passwords for trials. We were going to disable it at livenet launch, but have gone ahead and done that now. "Forgot Password" email will be replaced with a reset-password link later this week. Thank you, Keyur Isn't the bigger problem that this means your passwords are stored in plain text in the DB? How else could you email a password?
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MadCoinMan
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June 22, 2011, 04:51:45 PM |
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Looks pretty sweet.
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DamienBlack
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June 22, 2011, 05:02:05 PM |
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I registered and received my email in plain text!
Please, change that immediately. This is completely insane. Is there any of the exchanges here with at least someone understanding basic security?
Done! Initial email with passwords was a testnet-only thing, because people tend to choose disposable, forgettable passwords for trials. We were going to disable it at livenet launch, but have gone ahead and done that now. "Forgot Password" email will be replaced with a reset-password link later this week. Thank you, Keyur Isn't the bigger problem that this means your passwords are stored in plain text in the DB? How else could you email a password? Indeed, could you please confirm that password will not be stored in plaintext. If you could detail how they are stored that would be best. It is a topical concern considering mt gox.
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Keyur @ Camp BX (OP)
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
June 22, 2011, 05:13:23 PM |
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I registered and received my email in plain text!
Please, change that immediately. This is completely insane. Is there any of the exchanges here with at least someone understanding basic security?
Done! Initial email with passwords was a testnet-only thing, because people tend to choose disposable, forgettable passwords for trials. We were going to disable it at livenet launch, but have gone ahead and done that now. "Forgot Password" email will be replaced with a reset-password link later this week. Thank you, Keyur Isn't the bigger problem that this means your passwords are stored in plain text in the DB? How else could you email a password? Indeed, could you please confirm that password will not be stored in plaintext. If you could detail how they are stored that would be best. It is a topical concern considering mt gox. Yes, I can confirm that the passwords are never stored on our website. We only have salted, dual-hashed (MD5 + SHA) results in the DB that cannot be reversed. The registration process can email you the password, because it knows the password upon registration. Memory is freed at the end of session or ~20 minutes, whichever comes first, and that is the last time we see your real password. We are already impervious to garden variety attacks like CSRF, Site Injection, Click-hijack, and some forms of DDoS. In fact, we are undergoing two attacks right now, and holding up pretty well. A more comprehensive third-party audit result will be published prior to launch. Hope this helps, Keyur
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Grant
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June 22, 2011, 05:17:30 PM |
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Bitcoins are not a regulated market yet so NFA / SEC are not in the picture, but our deposits are insured by FDIC. Hope this helps, Keyur
So, basically if i deposit upto $250,000 to your exchange and you become insolvent (for whatever reason that could be) i am guaranteed my deposit by your government ? Can you point me to some documents that proof your registration ? (might be i overlooked it, but i looked through your site and couldn't find anything) Btw. Your site looks SUPER, and i love all the options you provide for a speculator.
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makomk
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June 22, 2011, 06:10:49 PM |
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Nobody is mining on testnet? Maybe tesnet bitcoins will have a real value... after all they are really needed for testing purpose
They're fairly easy to mine, I think; I've got about 150 or so I mined for my own testing purposes a couple of days ago with a tiny amount of mining power. Waiting for confirmations is a tad tedious though.
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Quad XC6SLX150 Board: 860 MHash/s or so. SIGS ABOUT BUTTERFLY LABS ARE PAID ADS
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imperi
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June 22, 2011, 06:32:52 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FrQ0uZ.jpg&t=665&c=DJYwk6r9PuauBg) Am I winning? ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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qikaifu
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God creats math and math creats bitcoin.
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June 22, 2011, 07:24:05 PM |
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when do you think it will get some licences to over pass the 1000 usd limit? thank you.
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GideonGono
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June 22, 2011, 07:47:50 PM |
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Wow, this is awesome.
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dserrano5
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June 22, 2011, 09:33:14 PM |
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I don't like that greenish look. And opening up the sections in the FAQ is slow. Is/Will be there an API available? I'd rather code a quick Perl script to operate with it instead of clicking around the site.
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bitcoinBull
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rippleFanatic
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June 22, 2011, 09:57:30 PM |
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How about some starting BTC so the order book is more than just buy orders..
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College of Bucking Bulls Knowledge
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MatthewLM
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June 22, 2011, 10:09:25 PM |
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So this only works in the US?
Why does the price chart on the homepage show 500usd for 1btc?
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