[ANN] RMBTB.com: New China Bitcoin exchange

[BitPirate]

人盟比特币: 真正意义上的“全新”交易平台
RMBTB.com: Brand new exchange


上线送礼：0.1比特币或人民币100元等你来拿
0.1BTC or CNY 100 giveaway for new users*

(offer ended)

https://www.rmbtb.com

• 快捷： 高速的交易引擎; 全方位的架构设计
• 安全：双因素登陆认证; 交易密码解锁功能以及无比特币在线储存等
• 移动： 移动设备兼容良好，让您无时无地交易尽掌先机
• 低成本: 无充值和提现费用，仅0.3%的交易费用

• FAST: High-frequency trading engine; scaleable infrastructure
• SECURE:  Two-factor login authentication; sensitive operations secured by Trade PIN; No Bitcoins stored on our servers, ever
• MOBILE: Fully-responsive site. Trade anywhere, with full market data and interactive charts at your fingertips!
• GOOD VALUE: No deposit/withdrawal fees; flat 0.3% trading fee

2013年5月19日正式上线！
2013年5月20日活动正式开始！
2013年5月23日交易正式启动

Site launches: 19 May 2013
Giveaway begins: 20 May 2013
Trading engine starts: 23 May 2013


* 活动细则：人民币充值5000以上的前100用户可以免费获得0.1个比特币；充值20个比特币以上的前50位用户可以活动人民币100元。每位仅限一次，两个优惠无法同时使用
* Conditions apply: 0.1BTC given to the first fifty users who deposit CNY 5,000 or more to trade. CNY 100 given to the first fifty users who deposit BTC 20 or more. One giveaway per user. Oh, and the "free money" is to be traded before you withdraw it.

[1715176273]

1715176273

[1715176273]

1715176273

[Le Happy Merchant]

I like you, and I hope this succeeds.

Watching.

[MPOE-PR]

Cool. Get in the WoT would you.

[BitPirate]

I like you, and I hope this succeeds.

Watching.

Thanks! Long uphill marketing battle now -- a million and one sites to compete with. Which is good.

Cool. Get in the WoT would you.

Will do.

[The Bitcoin Catalog]

Don't forget to send us your request form to be in our next edition!
http://thebitcoincatalog.com/free-catalog-listing/

[BitPirate]

Don't forget to send us your request form to be in our next edition!
http://thebitcoincatalog.com/free-catalog-listing/

Thanks! Done.

[BitPirate]

Finally opening up the site -- for those who haven't guessed the URL yet. We will begin processing deposits from tomorrow (20 May), and plan to turn the trading engine on at 12pm on 22 May.

RMBTB.com 人盟比特币




Live Interactive charts available: Price (Candlestick, OHLC, Line, on log or normal scale, any time range); Market depth (any price range); Volume (any time range)


Trade PIN secures sensitive actions


Simple one-click trade panel. Setting limit orders has never been so easy.


Pop-in live data panel on the Trade screen



"This phrase has never been said on the Internet before!":

-----BEGIN COOL MESSAGE-----

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wFcm81UtMHAjbhYw7IzkAk8hpsjyVhY/Mv+/I4R13Ngg5I9r7LBbj+gmONRw
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v9nCU+TzZmvU
=eMjm
-----END COOL MESSAGE-----

[monsterer]

Fees?

[BitPirate]

Fees?

• GOOD VALUE: No deposit/withdrawal fees; flat 0.3% trading fee

:-)

[BitPirate]

Some FAQs (and answers).

Q: Waaa, I have to give you so much in order to get 0.1 BTC (etc)...

A: Not really. Depositing != giving. Say for example, you deposit your money and trade it all (which, incidentally, we're not requiring you to do). We would earn CNY 15 from that. So -- you'd be giving us CNY 15 and getting CNY 75 - 100. Still sound like a bad deal?

Q: Must be a scam then, why are you giving away free money?

A: Because we want you to use our site. We think our site is great, but that means nothing without users. We want people to join up and trade. You have to make your own judgement on if it's a scam; but ask yourself: "Does this site look like a cookie cutter set up quickly as a scam"? I can assure you: We don't want your deposits... we want your trade.

Q: I found error [x/y/z]

A: There are still a few... not with the functionality, but mainly with the template and translations. Please let us know -- we'd be happy to fix them and throw some BTC your way.

Q: I can't log in, it says my username and password are incorrect
A: This is probably our account protection feature blocking brute force attacks -- it should only be affecting our admins, unless you have a common username. We still need to tweak it further to stop it being an annoyance and only block potential hackers. If you can't log in, please use the contact form to contact us and we will fix it for you -- or wait for a few minutes and try again.

[BitPirate]

Almost imperceptibly, the lights flicker and dim. Far away, you hear what sounds almost like the distant roar of thunder.

What's that, you ask? It's the RMBTB trading engine warming up, of course.

Grand switch-on is at 12pm Beijing Time (4am UTC) tomorrow, Wednesday 22 May. :-)

[btctraderr]

Nice, Good to see more CNY exchanges! Massive untapped potential for Bitcoin.

[nyusternie]

Great work BitPirate!

Just registered and I look forward to my first trade.

Best of luck to you and your team

[BitPirate]

Nice, Good to see more CNY exchanges! Massive untapped potential for Bitcoin.

Thank you!
There are lots of exchanges springing up, and lots of in-fighting, DDoSing going on, etc...

We're hoping that with a bit of planning behind RMBTB we will rise up beyond that and provide a safer place for people to Trade in/with China...

Great work BitPirate!

Just registered and I look forward to my first trade.

Best of luck to you and your team

Thank you very much -- do let us know if you have any problems. We switch on the trade engine tomorrow, and will be giving away 0.5BTC and a year of waived trading fees to the first people who have their trades executed!

[nyusternie]

Thank you very much -- do let us know if you have any problems. We switch on the trade engine tomorrow, and will be giving away 0.5BTC and a year of waived trading fees to the first people who have their trades executed!

just executed my first trade and no problems at all; very nice system with great details over a well thought out ui. would absolutely recommend this over btcchina.

Moving or withdrawing coins from our blockchain.info account requires intervention of an RMBTB administrator, with a separate key and password that is never stored electronically.

what is the average turnaround time for a withdrawal to btc? will requests be processed 24 hours a day? your security practices are the best i've seen, however, I am concerened how that will affect convenience.

just submitted a withdrawal request that shows "Awaiting Review" (23 May 04:36:05).
i'll update here the time that it takes to deliver.

[BitPirate]

Thank you very much -- do let us know if you have any problems. We switch on the trade engine tomorrow, and will be giving away 0.5BTC and a year of waived trading fees to the first people who have their trades executed!

just executed my first trade and no problems at all; very nice system with great details over a well thought out ui. would absolutely recommend this over btcchina.

Moving or withdrawing coins from our blockchain.info account requires intervention of an RMBTB administrator, with a separate key and password that is never stored electronically.

what is the average turnaround time for a withdrawal to btc? will requests be processed 24 hours a day? your security practices are the best i've seen, however, I am concerened how that will affect convenience.

just submitted a withdrawal request that shows "Awaiting Review" (23 May 04:36:05).
i'll update here the time that it takes to deliver.

Thank you very much! We still have a long way to go -- lots of small bugs to iron out with charts etc.... Oh... and volume! Sorry you didn't get a good deal!

I saw your deposit request this morning, processed it about 8am. :-)

Once we get busy (hopefully), we plan to process CNY deposits and BTC withdrawals every hour or so, except at the dead of night... We're putting in place processes so we can get to them as quickly as possible. CNY deposits should be fast too, during working hours and hopefully not more than a few hours' wait...

[BitPirate]

Hi,

We plan to institute a sliding scale later on -- we certainly have the ability to set per-user fees.

Right now, since we charge no deposit/withdrawal fee, our marketing expenses are huge and income still effectively 0 -- but once they converge we will definitely be working to look after our big fish :-)

[usscfounder]

Like the Russian BTC-e, does your site fully support English and Chinese?

Also, just some advice:  Get a better domain name.  rmbtb is not good to remember.  How about cnc-e.com or chn-e.com or chn-direct.com or cnc-trade.com

One more thing. Post this in the alternative currency sub-forum and the main bitcoin forum. That's where it needs to be.

[BitPirate]

Thanks. Yes the site is completely bi-lingual.

I'm not sure of the problem with the domain name -- the name is quite memorable in Chinese -- btb is pinyin transliteration of 比特币, and there is more than one pun in the name....

We don't trade CNC or CHNcoin; may be a misunderstanding. :-)

We do have a trollbox.... but that's where the similarities with btc-e end I think...

[TimJBenham]

btb is pinyin transliteration of 比特币, and there is more than one pun in the name....

Yeah, "rm" means remove in un*x, so one interpretation is that you are going to take all the 比特币!

[BitPirate]

The giveaway is now over, as expected we had quite a lot of takers....

We're looking to build market depth. The prevailing bitcoin price in China is quite significantly lower than Mt Gox at the moment, but there is also a nice gap between the China exchanges.

If there are any potential market makers interested in exploiting the gap, please PM me -- we can cut a good deal and I can help you get money in.

[monsterer]

The giveaway is now over, as expected we had quite a lot of takers....

We're looking to build market depth. The prevailing bitcoin price in China is quite significantly lower than Mt Gox at the moment, but there is also a nice gap between the China exchanges.

If there are any potential market makers interested in exploiting the gap, please PM me -- we can cut a good deal and I can help you get money in.

Here's an idea if you want to increase liquidity - make your fees lower for limit orders than they are for market orders?

[TimJBenham]

Here's an idea if you want to increase liquidity - make your fees lower for limit orders than they are for market orders?

The relevant distinction is between orders that provide liquidity and those that take it. Your idea would just cause all market orders to be entered as limit orders with an extreme limit.

[BitPirate]

It's a nice idea though but would need to be applied in a different way (there's no way to distinguish between order types until they are executed anyway, which happens asynchronously).

I was toying with the idea of introducing new order types, such as "volatility reducing" orders that automatically lead/trail the last price by around 10% (and get re-placed every 20 minutes or so, so they would catch sudden dips/spikes).

It would take some time to implement and test, but it was on my to-do list anyway. They could carry lower fees.

Anyway, the offer is still open for arbitrageurs in the meantime :-)

[TimJBenham]

It's a nice idea though but would need to be applied in a different way (there's no way to distinguish between order types until they are executed anyway, which happens asynchronously).

Orders that execute against the order book take liquidity; orders that enter the order book add liquidity. That implies that you charge the fee when the order executes.

[BitPirate]

It's a nice idea though but would need to be applied in a different way (there's no way to distinguish between order types until they are executed anyway, which happens asynchronously).

Orders that execute against the order book take liquidity; orders that enter the order book add liquidity. That implies that you charge the fee when the order executes.

yes, the fee is charged at execution time; but don't users expect to be informed of the fee rate at order time? Perhaps "the fee is 0.3% but could be cheaper" isn't so bad...?

[monsterer]

The relevant distinction is between orders that provide liquidity and those that take it. Your idea would just cause all market orders to be entered as limit orders with an extreme limit.

Simply impose a restriction that limit orders cannot be placed between Bid or Ask. Or you can have a restriction that says you give a rebate for all limit order which sit in the book for 'long enough'.

[monsterer]

I was toying with the idea of introducing new order types, such as "volatility reducing" orders that automatically lead/trail the last price by around 10% (and get re-placed every 20 minutes or so, so they would catch sudden dips/spikes).

You don't need to do that - if there is a big enough incentive for market-markers, the volatility (and spread) will be automatically reduced by their actions. You can achieve this either through rebate on limit orders, or by changing your fee model so the round-trip trade cost is less.

[TimJBenham]

The relevant distinction is between orders that provide liquidity and those that take it. Your idea would just cause all market orders to be entered as limit orders with an extreme limit.

Simply impose a restriction that limit orders cannot be placed between Bid or Ask.

That would forbid reducing the spread. I think that's the opposite of what you want.

[TimJBenham]

It's a nice idea though but would need to be applied in a different way (there's no way to distinguish between order types until they are executed anyway, which happens asynchronously).

Orders that execute against the order book take liquidity; orders that enter the order book add liquidity. That implies that you charge the fee when the order executes.

yes, the fee is charged at execution time; but don't users expect to be informed of the fee rate at order time? Perhaps "the fee is 0.3% but could be cheaper" isn't so bad...?

Exactly. No-one complains if the fee is unexpectedly lower. If you really want to encourage people to leave orders up you give a negative fee by rebating the market maker some of the liquidity taker's fee. This would severely cut your initial fee income, but an exchange that does this would soon have the smallest spreads and become the "go to" place for traders. Or you can provide this benefit to only a few market makers with whom you have deals.

There is always some compromise between making money in the short term and growing the exchange.

BTW your username is kind of unfortunate if you want to be trusted.

[monsterer]

That would forbid reducing the spread. I think that's the opposite of what you want.

Yes, there is an edge case with partial fills which would leave a limit order between Bid->Ask. Scratch that idea.

Still though, giving a rebate for limit orders which sit on the book for long enough ought to encourage liquidity.

[BIT4BRAIN]

HOWS THIS COMPARE TO BTCCHINA.COM  ANYONE?

[BitPirate]

Hoping some others will chime in... if you want others' opinions, you can ignore me.

Obviously, I think we're better ;-) Our top priority is security and ease of use (I think some of the other exchanges in China are not secure). Our volume and depth is still low. We're working on that.

We've launched a few new features recently. For example, a notifications centre; you can receive emails or SMS when key actions take place on your account (e.g. get informed when someone logs in, or when a trade goes through).

We're also about to launch a full trading API, which should be mostly compatible with Mt. Gox, but with better security than other competitor trade APIs:
- API secrets are IP locked and automatically rotated every 2 hours (mitigates risk of storing symmetric secrets in the database)
- you can specify access and trade limits for each API key you create
- you can specify IP whitelists for each API key you create

We're offering a split fee -- trades via the API will be 50% off.

Documentation etc. coming soon.

[ABitBack]

I think you need to edit the title and thread if the giveaway is over now. Just strikethrough it, but mention the 2BTC treasure hunt instead. Looking good by the way. An affiliate program going to be integrated at all?

[joesmoe2012]

Everything on your site is looking good too, can't wait to start making some money.

[BitPirate]

I think you need to edit the title and thread if the giveaway is over now. Just strikethrough it, but mention the 2BTC treasure hunt instead. Looking good by the way. An affiliate program going to be integrated at all?

Thanks! Will do. We've got treasure hunt posts in the Chinese forum.. didn't post them here as some of the clues required Chinese.


A referral progam is on the todo list -- a few other things to clean up first.

The main issue we've had with giveaways is how to differentiate real accounts from dead ones -- so in the previous giveaway, we set deposit requirements. People didn't seem so keen on that though. Perhaps something based on volume commission would work better.

[BitPirate]

Everything on your site is looking good too, can't wait to start making some money.

Thanks :-) Doing the last unit tests and translating the documentation -- should be ready soon!

[BitPirate]

A few new changes.

The Secure API is up and running... Lots of details here: https://www.rmbtb.com/help-secureapi-en/

And we have a new ticker:



More changes in the works too...

[joesmoe2012]

How long do SWIFT transfers to Poland take?

Do you support SEPA transfers?

[BitPirate]

How long do SWIFT transfers to Poland take?

Do you support SEPA transfers?

Hi! They are international wire transfers... but the fee is minimal. Depending on the size, it takes approx. a week. Right now the web front-end only supports Chinese online payment methods, for compliance purposes, but we can provide the relevant info by e-mail.

[acegilz]

How do i open an account with any bank in china?

BOC, CMB, ABC, CCB or ICBC?

Its so anoying because everything is in chinese, i cant even register an account with alipay its a confusion

[btctraderr]

Is this exchange a registered company somewhere? Many are registered in HK these days. Can you provide any info on this?

[Forexperiments]

It's a very nice website! 

[Forexperiments]

Is this true?
http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

What will happen?

[Forexperiments]

Shoot, no more zhifubao 
It was perfect...   

[Anddos]

Is this true?
http://www.coindesk.com/china-bans-payment-companies-working-bitcoin-exchanges-sources-claim/

What will happen?

BTC's value will fall back to the old days, asic miners will be become unprofitable, people will have to get jobs

[Forexperiments]

BTC's value will fall back to the old days, asic miners will be become unprofitable, people will have to get jobs

...
I was meaning about rmbtb, not the bitcoin
zhifubao withdrawal was essential.... 

[Forexperiments]

  exchanged volume is just 4 bitcoins 
Spread between bid/ask now it's too big to trade 

[nyusternie]

can someone from rmbtb discuss ur future plans? I really love ur platform. it's not only a great alternative to btchina, but also one of the best exchanges in the global community.

as I prepare to ramp up my own exchange activities I'm extremely nervous about the future of bitcoin in China.

specifically, what happens when cny can't flow in and out? what services could u then provide?