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[Dargo]

Why are BTC withdrawals disallowed?

They aren't disallowed.

There are some reasons why an individual account might not be able to withdraw bitcoins. For one, you can't withdraw coins you are trying to sell with an outstanding order. Cancelling the sell order will free them up for withdrawal. Another situation would be if you've reached your daily or monthly funding limit. These limits are in place for regulatory compliance, and if you find you are hitting the limits, probably you should verify to the next tier to get higher limits.

If none of the above fit your case, then PM with your public account ID and I'll check it out. Or you can just create a support ticket on our site.

[Dargo]

Can you please add eur->usd exchange?

We'd love to, but that unfortunately requires more licensing and regulatory hurdles and we're already up to our eyeballs in this kind of stuff. It's a possibility down the road, but not anytime soon.

[bnjmnkent]

What's the countdown for Germany?

[HostFat]

We'd love to, but that unfortunately requires more licensing and regulatory hurdles and we're already up to our eyeballs in this kind of stuff. It's a possibility down the road, but not anytime soon.

The easier way is to add withdrawal to Ripple network

[cyclops]

Can you please add eur->usd exchange?

We'd love to, but that unfortunately requires more licensing and regulatory hurdles and we're already up to our eyeballs in this kind of stuff. It's a possibility down the road, but not anytime soon.

I dont think so, you could do it via Bank, so I ask you "Convert my 10USD into EUR" and the bank does the conversion at market price. Look at bitstamp for example.

[Dargo]

Can you please add eur->usd exchange?

We'd love to, but that unfortunately requires more licensing and regulatory hurdles and we're already up to our eyeballs in this kind of stuff. It's a possibility down the road, but not anytime soon.

I dont think so, you could do it via Bank, so I ask you "Convert my 10USD into EUR" and the bank does the conversion at market price. Look at bitstamp for example.

I thought your were asking us to add a EUR/USD pair - that would require more licensing and regulation. If you wire Fidor USD it will be automatically be converted to EUR. But my understanding is that they can't (or won't) do EUR to USD on withdrawal. And I'm not sure they would do EUR to USD on deposit. I'll check on this though. I'm not sure Fidor's conversion rates are particularly good, so you may want to convert through your own bank. Here's some data on the conversion rates from a while back:

https://bitcointalk.org/index.php?topic=290799.msg3125994#msg3125994

I'll see if we can get a more precise statement for Fidor's conversion rates though.

[cyclops]

Can you please add eur->usd exchange?

We'd love to, but that unfortunately requires more licensing and regulatory hurdles and we're already up to our eyeballs in this kind of stuff. It's a possibility down the road, but not anytime soon.

I dont think so, you could do it via Bank, so I ask you "Convert my 10USD into EUR" and the bank does the conversion at market price. Look at bitstamp for example.

I thought your were asking us to add a EUR/USD pair - that would require more licensing and regulation. If you wire Fidor USD it will be automatically be converted to EUR. But my understanding is that they can't (or won't) do EUR to USD on withdrawal. And I'm not sure they would do EUR to USD on deposit. I'll check on this though. I'm not sure Fidor's conversion rates are particularly good, so you may want to convert through your own bank. Here's some data on the conversion rates from a while back:

https://bitcointalk.org/index.php?topic=290799.msg3125994#msg3125994

I'll see if we can get a more precise statement for Fidor's conversion rates though.

Ok! Im mainly interested in USD->Eur withdrawal

[cyclops]

Some feedback as I'm currently using the exchange with 3BTC alternating from EUR/BTC and USD/BTC

- I think, you should do at least until you get some volume only offer EUR/BTC or USD/BTC (doing something like Bitstamp)
- A History of "Funding" operations would be helpful
- In the order book the minimum amount is "1" so if I'm selling 0.01BTC at 1500€ it appears like a full BTC. (The transaction history shows it correctly)
- A counter for the daily funding/withdrawal would be helpful

In the following weeks ill wire a EU bank transfer to you for funding and see how it goes.

Keep on with the good work, of the exchanges I've tested it is the less intrusive (You don't have to give ID to Trade Low amounts as I do) and the trading features far more developed.
The bank partnership is a plus!


P.D. If you want I can translate it into Spanish and Catalan (Native in both languages)

[Dargo]

Some feedback as I'm currently using the exchange with 3BTC alternating from EUR/BTC and USD/BTC

Thanks cyclops, we really appreciate the feedback.

- I think, you should do at least until you get some volume only offer EUR/BTC or USD/BTC (doing something like Bitstamp)

I assume you mean either XBT/EUR or XBT/USD. I understand it would consolidate volume, but there are other issues involved. We'll have to think about this, but I agree that we need to be careful about fragmenting volume too much.

- A History of "Funding" operations would be helpful

If you go to Account > History, you'll see a complete history of all the changes to your account balance, including changes resulting from deposits and withdrawals. Does that work, or did you have something else in mind?

- In the order book the minimum amount is "1" so if I'm selling 0.01BTC at 1500€ it appears like a full BTC. (The transaction history shows it correctly)

Yes, we're binning the data to some extent, but I think we decided that it's too course-grained. I'll check on this and see about making it more fine-grained. As I mentioned before, some of the devs are concerned that we discourage really high frequency trading and this is the motivation behind the binning. We're not trying to discourage bot trading, but rather high-frequency trading that might give an advantage over ordinary bot trading. But I think we agreed that binning in increments of 1 BTC is overdoing it, at least given the low volume right now.

 
- A counter for the daily funding/withdrawal would be helpful

We do keep track of your cumulative daily/monthly funding in relation to the limits. Whenever you go to deposit or withdraw in any currency, you can see your "Maximum deposit" or "Maximum withdrawal" in the given currency. This tells you exactly what your upper limit is for the present deposit or withdrawal. Is this what you had in mind, or was it something different?

In the following weeks ill wire a EU bank transfer to you for funding and see how it goes.

Keep on with the good work, of the exchanges I've tested it is the less intrusive (You don't have to give ID to Trade Low amounts as I do) and the trading features far more developed.
The bank partnership is a plus!

Thanks, it's worth noting that we have less intrusive options for those who don't need high funding limits. We've done our legal homework and only ask for what's required given your funding needs.

P.D. If you want I can translate it into Spanish and Catalan (Native in both languages)

Thanks - we'll keep this in mind. We do want to add a variety of languages to the site.

[cyclops]

Thanks for the reply!

Some things

- Its currently difficult to sell at current rates, huge gap between Sell-Buy

If you go to Account > History, you'll see a complete history of all the changes to your account balance, including changes resulting from deposits and withdrawals. Does that work, or did you have something else in mind?

Yeah, but you could add a option to sort by type, so I see all Deposits/Withdrawals...

We do keep track of your cumulative daily/monthly funding in relation to the limits. Whenever you go to deposit or withdraw in any currency, you can see your "Maximum deposit" or "Maximum withdrawal" in the given currency. This tells you exactly what your upper limit is for the present deposit or withdrawal. Is this what you had in mind, or was it something different?

I meant that you could show a clock showing time until reset, so for example if I funded the account from my bank on 22-10-2013 it would show "Next reset 22-11-2013" or something like that

[donch]

Hi,

can you tell me why you've decided to round the order amounts in the order book, both in the UI and the API? If you want people (hint arbitrageurs) to use your marketplace, they need accurate numbers :-)

[Dargo]

Hi,

can you tell me why you've decided to round the order amounts in the order book, both in the UI and the API? If you want people (hint arbitrageurs) to use your marketplace, they need accurate numbers :-)

Yeah, this question has come up a few times in the thread. We're binning the data because some of the devs want to discourage high frequency trading. But it's way too course-grained and we've got a ticket in to have it changed so you get a more accurate picture.

[donch]

Hi,

can you tell me why you've decided to round the order amounts in the order book, both in the UI and the API? If you want people (hint arbitrageurs) to use your marketplace, they need accurate numbers :-)

Yeah, this question has come up a few times in the thread. We're binning the data because some of the devs want to discourage high frequency trading. But it's way too course-grained and we've got a ticket in to have it changed so you get a more accurate picture.

Thanks for the reply! I suppose the next question is why do you want to discourage high frequency trading? 

Seriously, I have an arbitrage bot running on the four other major exchanges and I'd like to add yours to the list. If you want a market with buyers and sellers and some liquidity, opening up to bots is one way to get that...

Is your backend a bit slow when too many people/robots connect or are you trying to control your CDN expenditure?

[Dargo]

Thanks for the reply!

Some things

- Its currently difficult to sell at current rates, huge gap between Sell-Buy

Yeah, all the USD buyers are very stingy at the moment. The EUR spread is much much smaller. It's part of the bigger problem that we need more volume.  

If you go to Account > History, you'll see a complete history of all the changes to your account balance, including changes resulting from deposits and withdrawals. Does that work, or did you have something else in mind?

Yeah, but you could add a option to sort by type, so I see all Deposits/Withdrawals...

Good idea - that's a feature we'll want to add, but realistically it'll be a while.

We do keep track of your cumulative daily/monthly funding in relation to the limits. Whenever you go to deposit or withdraw in any currency, you can see your "Maximum deposit" or "Maximum withdrawal" in the given currency. This tells you exactly what your upper limit is for the present deposit or withdrawal. Is this what you had in mind, or was it something different?

I meant that you could show a clock showing time until reset, so for example if I funded the account from my bank on 22-10-2013 it would show "Next reset 22-11-2013" or something like that

I think it's a rolling clock, so it doesn't exactly reset at a specific time. That might make it hard to add a feature like this, but we'll think about what can be done.

[Dargo]

Hi,

can you tell me why you've decided to round the order amounts in the order book, both in the UI and the API? If you want people (hint arbitrageurs) to use your marketplace, they need accurate numbers :-)

Yeah, this question has come up a few times in the thread. We're binning the data because some of the devs want to discourage high frequency trading. But it's way too course-grained and we've got a ticket in to have it changed so you get a more accurate picture.

Thanks for the reply! I suppose the next question is why do you want to discourage high frequency trading? 

Seriously, I have an arbitrage bot running on the four other major exchanges and I'd like to add yours to the list. If you want a market with buyers and sellers and some liquidity, opening up to bots is one way to get that...

Is your backend a bit slow when too many people/robots connect or are you trying to control your CDN expenditure?

Well, my understanding of the idea is that we're not trying to discourage ordinary bots even though they trade pretty frequently. Rather, we're trying to discourage even higher frequency trading that might put ordinary bots at a disadvantage. I guess the idea is to prevent an unfair advantage for people who have really advanced technology. In other markets it might be a great idea, but I'm not sure how necessary it is for an exchange like ours, especially in its infancy. It's a well-intended but controversial idea, and I'm personally not an advocate of it. I'd rather just have the raw data and worry about HFT down the road if it becomes a problem. But we'll at the very least have much more fine-grained data up soon. I encourage people to weigh in on this issue if they have an opinion about it. If enough people ask for raw data, who knows, you might be able to sway the developers who favor the binning approach on this issue. 

[donch]

Hi,

can you tell me why you've decided to round the order amounts in the order book, both in the UI and the API? If you want people (hint arbitrageurs) to use your marketplace, they need accurate numbers :-)

Yeah, this question has come up a few times in the thread. We're binning the data because some of the devs want to discourage high frequency trading. But it's way too course-grained and we've got a ticket in to have it changed so you get a more accurate picture.

Thanks for the reply! I suppose the next question is why do you want to discourage high frequency trading?  

Seriously, I have an arbitrage bot running on the four other major exchanges and I'd like to add yours to the list. If you want a market with buyers and sellers and some liquidity, opening up to bots is one way to get that...

Is your backend a bit slow when too many people/robots connect or are you trying to control your CDN expenditure?

Well, my understanding of the idea is that we're not trying to discourage ordinary bots even though they trade pretty frequently. Rather, we're trying to discourage even higher frequency trading that might put ordinary bots at a disadvantage. I guess the idea is to prevent an unfair advantage for people who have really advanced technology. In other markets it might be a great idea, but I'm not sure how necessary it is for an exchange like ours, especially in its infancy. It's a well-intended but controversial idea, and I'm personally not an advocate of it. I'd rather just have the raw data and worry about HFT down the road if it becomes a problem. But we'll at the very least have much more fine-grained data up soon. I encourage people to weigh in on this issue if they have an opinion about it. If enough people ask for raw data, who knows, you might be able to sway the developers who favor the binning approach on this issue.  

Thanks again for replying! I understand that HFT can be an "elite" pursuit. My bot is in no way high frequency  

Arbitrage requires that there is certainty that a trade can be cleared on two exchanges, which effectively means matching a buy or a sell on one exchange with the converse trade on another exchange. Without the exact size of the trade (i.e. finer granularity binning is no use) this matching cannot occur, and therefore your exchange is of no use to arbitrageurs.

It's good for developers to have opinions, but it's also good if they listen to the needs of their potential customers  

Also worth noting that the lag time on your API responses, even with low volume, would make HFT impossible   If you want to prevent HFT, surely the easiest way is to rate limit the open new order API? The data itself is not the feature which permits the frequency of trading.

[Loozik]

Rather, we're trying to discourage even higher frequency trading that might put ordinary bots at a disadvantage. I guess the idea is to prevent an unfair advantage for people who have really advanced technology.

Dargo,

There is nothing about HFT that an ordinary bot should fear. Just like there is nothing that a discretionary trader should fear about an ordinary bot.

People who have advanced technology enjoy a fair advantage (not unfair). They worked hard, invested hard and now are harvesting fruits of their labour and risks taken. There is nothing unfair about gaining advantage through hard work and capital risking.

There are however ''tools'' that can put ordinary traders and bots at disadvantage, e.g. dark pools, if their volume is non / under-reported in the exchange feed.

[Dargo]

donch, Loozik,

Thanks for your input - I essentially agree with what both of you are saying. As I said, binning is not my preference. My preference is for pure transparent market data. But IMO for this issue it's the preferences of our customers (and potential customers) that ultimately matter, not my preferences or even the opinions of developers. So I'd appreciate hearing from others as well on the issue.

[Loozik]

What's the time stamping precision of data feed at Kraken (seconds / milliseconds / microseconds)?

[nitrous]

What's the time stamping precision of data feed at Kraken (seconds / milliseconds / microseconds)?

The trades data feed supplies up to 4dp for each trade timestamp, so a resolution of 100 microseconds, but I believe they store it internally with nanosecond precision as the `last` ID used for getting trades data looks like a nanosecond precision timestamp. Can anyone confirm this?