NXT :: descendant of Bitcoin - Updated Information

[landomata]

NASDAQ does 20,000,000 transactions per. day

works out to 230 TPS

It looks like the Nxt Asset Exchange could easily surpass NASDAQ TPS volume.

[BaiMangal]

I dont seem to see any APIs (at least not listed in the wiki) regarding queries on which assets an account owns, or how many of them your account owns.  Have these just not been documented yet, or are they not in the software?

I think they r not implemented, post in Nxt API thread what requests u need.

- an API which by passing an asset id to show all accounts owning qtys of the asset
- an API which by passing an asset id to show all bid_ask orders for them including account IDs maybe so we can build order book. Maybe to show accout id so one day we can send message to an account an offer some bargain Also with account id maybe the exchange will be more transperant
- an API which by passing an account id shows all the assets owned by the account

Also unsure if thats doable but could the BID_ASK order has a little Comment? Unsure what it be used for hahah but sounds coool:)

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

Forgot about Market orders. That be nice too. Developers could implement that on their clients though...

[Come-from-Beyond]

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

To place a bid market order, use very high price.
To place an ask market order, use very low price.

[l8orre]

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

To place a bid market order, use very high price.
To place an ask market order, use very low price.

well - it is sort of a workaround, but it is not really the same ..

I am a bit slow to catch up here - things are moving fast. I know a bit about CME commodities futures trading, and the FIX API: http://en.wikipedia.org/wiki/Financial_Information_eXchange

In principal, asset exchange functions like this:

There are TWO fundamental order types: Market Orders and Limit Orders.

Limit Orders have a guaranteed price - hence 'limit order', but they don't have guaranteed execution: if there is no counteraprty at that price, the order will just hang there until it expires (if ever)

Market Orders have a guaranteed fast execution, but no guaranteed price. You get your execution 'immediately', for 'next best' price, whatever that may be.

So a market BUY order is matched againt the next best limit SELL order - i.e. the LOWEST sell price, and a market SELL order is matched against the HIGHEST buy order.

The LOWEST sell price is one tick above the HIGHEST buy price. The difference between these two is the 'spread'. Now if there are only limit orders, nothing much happens. The HIGHEST limit buy order does not just suddenly jump up on its own and buys for the LOWEST sell price - it can't, because it is a limit order. It may be that a new limit order or is entered, that crosses up or down to where another limit order of the opposite order book happens to lurking around - but that is rather rare.

The real action comes from the interplay between market orders and limit orders, and the fact that a trade is always sort of an annihilation of opposing particles: SellOrder + BuyOrder ->TradeExecution. Sort of like positron+electron -> photon


Apologies if I should be preaching to the choir here - I have no idea about you guys backgrounds. But latching on to opticalcarriers question there, I'd also be interersted in getting to know how to use MARKET orders and create assets ledgers and stuff like that in order to make a powerful asset exchange on nxt ...
 

[Come-from-Beyond]

Apologies if I should be preaching to the choir here - I have no idea about you guys backgrounds. But latching on to opticalcarriers question there, I'd also be interersted in getting to know how to use MARKET orders and create assets ledgers and stuff like that in order to make a powerful asset exchange on nxt ...

We should collect all suggestions.

[Come-from-Beyond]

Testnet is working now.

[instacalm]

8660198698673596777 sent 500 NXT to 10715382765594435905, which holds 26M NXT.

10715382765594435905 is BTER

[S3MKi]

Hi, everyone!

Something is wrong with BTER.COM

60K NXT was sent to bter yesterday, but still not available on balance. blockchain says transfer was successful.
Support haven't answered yet.

Found different posts concerning bter balance problems here at BT.

I had that same. Just write support. After 3 days I have received all Nxt.

[swartzfeger]

8660198698673596777 sent 500 NXT to 10715382765594435905, which holds 26M NXT.

10715382765594435905 is BTER

Ack, I completely forgot about BTER. So the beggar is sending NXT to BTER, nothing to see here?

[BaiMangal]

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

To place a bid market order, use very high price.
To place an ask market order, use very low price.

I did a few bots to trade on forex and on bitstamp and what CFB sugests for market order is what I alsways used (and many other developers would use)
Just placing a limit order with higher/lower price makes it market order.
For example bitstamp api does not even have market order
https://www.bitstamp.net/api
I suppose if CfB was to put an api for market order it will do the above anyway (run a limit order with hihger/lower price)

[rriky92]

8660198698673596777 sent 500 NXT to 10715382765594435905, which holds 26M NXT.

10715382765594435905 is BTER

Ack, I completely forgot about BTER. So the beggar is sending NXT to BTER, nothing to see here?

Nope! It s clean

[klee]

Testnet is working now.

We need more of the initial 73 stakeholders testing there!

I test with my real account. CfB probably will not recommend it for obvious reasons but I can assure you your money will be safe!
The guys doing the testnet are close friends of mine and I pay them to do so - the server is private and a part of a serious company infrastructure, no worries for pwd stolen etc.

I have still a big stake in NXT and would be extremely foolish for me to harm the community in any way.

So, let's test forge?

CfB what is your opinion?

[l8orre]

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

To place a bid market order, use very high price.
To place an ask market order, use very low price.

I did a few bots to trade on forex and on bitstamp and what CFB sugests for market order is what I alsways used (and many other developers would use)
Just placing a limit order with higher/lower price makes it market order.
For example bitstamp api does not even have market order
https://www.bitstamp.net/api
I suppose if CfB was to put an api for market order it will do the above anyway (run a limit order with hihger/lower price)

ah ok, I didn't know that.

So if LOWEST sell order is 1000, and I want to simulate market order, then I enter a BUY LIMIT order for 10000, and this BUY LIMIT order hits the SELL LIMIT order at 1000 ?

It is sort of a workaround, but it does not seem like the real deal to me ..

[Come-from-Beyond]

CfB what is your opinion?

They should use https://holms.cloudapp.net:6875/

[swartzfeger]

8660198698673596777 sent 500 NXT to 10715382765594435905, which holds 26M NXT.

10715382765594435905 is BTER

Ack, I completely forgot about BTER. So the beggar is sending NXT to BTER, nothing to see here?

Nope! It s clean

Thanks. I deleted my original message; I should've investigated more before posting (being half-asleep with an internet connection + stupidity can be dangerous).

[Ola]

Cryptocurrency Exchange CoinMKT Announces US Banking Partner
Is the CTO "our" Ola?

https://coinmkt.com/#/deposit

Add Funding Sources -> Bank "Coming Soon"

Cool.  Right now I use Coinbase to get Bitcoin from USD.  It would be great to have another option.

Nope its not me..just a close namesake of mine and we almost look alike..I am friends with him on linkedin and I have emailed him about NXT

[xcn]

8660198698673596777 sent 500 NXT to 10715382765594435905, which holds 26M NXT.

10715382765594435905 is BTER

Ack, I completely forgot about BTER. So the beggar is sending NXT to BTER, nothing to see here?

Nope! It s clean

Thanks. I deleted my original message; I should've investigated more before posting (being half-asleep with an internet connection + stupidity can be dangerous).

Remember last SheepMarketPlace 96K BTC chase on reddit? Innocent people were involved.
http://www.theguardian.com/technology/2013/dec/09/recovering-stolen-bitcoin-sheep-marketplace-trading-digital-currency-money

[pandaisftw]

That raises the question:

- is there an API call to implement a MARKET order?

I'll check over at the API thread..

To place a bid market order, use very high price.
To place an ask market order, use very low price.

I did a few bots to trade on forex and on bitstamp and what CFB sugests for market order is what I alsways used (and many other developers would use)
Just placing a limit order with higher/lower price makes it market order.
For example bitstamp api does not even have market order
https://www.bitstamp.net/api
I suppose if CfB was to put an api for market order it will do the above anyway (run a limit order with hihger/lower price)

ah ok, I didn't know that.

So if LOWEST sell order is 1000, and I want to simulate market order, then I enter a BUY LIMIT order for 10000, and this BUY LIMIT order hits the SELL LIMIT order at 1000 ?

It is sort of a workaround, but it does not seem like the real deal to me ..

That's how I always do it. One day when we have nice graphs like bitcoinity or bitcoinwisdom, you can easily ballpark how much volume your order will eat through to buy/sell your desired amount. Plus, it's safer always using limits, since you will never pay over what you set.

[bittick]

You guys post crazy amounts on here!
Prices are lowered now. I need a NXT/LTC pair listed somewhere

[Jean-Luc]

V0.5.9 Client got error after two days running.

Code:

[2014-01-20 09:33:45.146] NRS 0.5.9 started successfully.
[2014-01-21 22:00:51.223] Re-scanning blockchain...
[2014-01-21 22:00:57.832] ...Done
[2013-01-22 10:19:34.646] DEBUG: Error sending JSON request
java.io.IOException: Error writing to server
        at sun.net.www.protocol.http.HttpURLConnection.writeRequests(Unknown Sou
rce)
        at sun.net.www.protocol.http.HttpURLConnection.writeRequests(Unknown Sou
rce)
        at sun.net.www.protocol.http.HttpURLConnection.getInputStream(Unknown So
urce)
        at java.net.HttpURLConnection.getResponseCode(Unknown Source)
        at Nxt$Peer.send(Nxt.java:3595)
        at Nxt$Peer.send(Nxt.java:3556)
        at Nxt$7.run(Nxt.java:6301)

This is completely safe to ignore, just some network connection error. I already ignore most of those in the code, but they are usually more specific, haven't seen a generic IOException thrown so far.