Bitcoin-Central : trade EUR easily and for free !

[davout]

Hello everyone !

I'm really proud to announce that after lots of work, Bitcoin-Central.net, the oldest and best open-source trading platform is finally live and able to process EUR transfers using SEPA wires.

This basically means that it just got a whole lot easier to buy and sell bitcoin for our fellow european bitcoiners.

What is Bitcoin-Central.net ?
Bitcoin-Central.net is the oldest and most feature rich open-source exchange, the project has been started in late 2010 and has started accepting trading Liberty Reserve, Pecunix, and a little bit of EUR in February.

All this time I've been thinking about a proper way to legally run such an exchange, consulting lawyers, implementing new functionality for all to enjoy and jumping through a lot of hoops to finally end up with a properly incorporated company and a couple of european bank accounts. This means convenient, fast and cheap SEPA transfers.


Why trade at Bitcoin-Central.net ?
 - Trading is free,
 - When fees kick in they will remain extremely competitive,
 - Bitcoin-Central.net will evolve to provide all the bitcoin services in one convenient and easy to use interface,

If you're currently in Paris, head to this thread, I want to celebrate, and it's my shout !

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[davout]

For those who would like to contribute, open issues, or just watch what's happening, the source code is at https://github.com/davout/bitcoin-central

[BCNA]

Great Work. Keep it up.

[davout]

Great Work. Keep it up.

The target account for depositing EURO is in a Latvian bank, correct ?
(looks like RIETUMU BANKA).

A suggestion: please mention this in the deposit page ... my bank requires
this information to allow me enter an IBAN

As a matter of fact, the complete coordinates of the target bank and account
would be useful: many bank web interfaces are anal and require a ton more
stuff than what you provide.

Yes, it is Rietumu Bank in Latvia.
Working on it right now, should be live in 15 minutes. Thank you for reporting this

[davout]

As a matter of fact, the complete coordinates of the target bank and account
would be useful: many bank web interfaces are anal and require a ton more
stuff than what you provide.

It's fixed, thanks again for reporting.

[BioMike]

Hi davout,

Are your initial "issues", with the previous release, fixed?
Don't want to see Bitcoin-Central going through that again.

Cheers,

BioMike

[davout]

Hi davout,

Are your initial "issues", with the previous release, fixed?
Don't want to see Bitcoin-Central going through that again.

Cheers,

BioMike

Yes, a simple support tickets framework is currently being developed (see the support branch on github), and there will be a 48h answer commitment for these.

[sonba]

Great - glad to see the site is back online with SEPA possibilities! 

[3phase]

I've seen this also on OTC market, and I think it should be fixed:

There's a user asking 75 EUR for 10 BTC currently. It is not clear if he is asking 75 for all the 10 BTC (reasonable) or 75 per BTC (unreasonable at current conditions). I would think that the user made a mistake most probably, since most orders are per BTC.

How about a field in the order book table to present the total amount of the order? This field is already there in the trade input form that you have.

In any case, congrats for opening an exchange closer to home 

[davout]

I've seen this also on OTC market, and I think it should be fixed:

There's a user asking 75 EUR for 10 BTC currently. It is not clear if he is asking 75 for all the 10 BTC (reasonable) or 75 per BTC (unreasonable at current conditions). I would think that the user made a mistake most probably, since most orders are per BTC.

How about a field in the order book table to present the total amount of the order? This field is already there in the trade input form that you have.

Yeah I see that. I don't think it's a mistake from the user, since, as you say, the total for the order is displayed in the trade order input form. The order book display definitely needs some improvement but I'd like to keep the two-column display.

In any case, congrats for opening an exchange closer to home 

Thank you

[davout]

The trade order interface is indeed a little confusing and will get some code-level loving.
Market orders are also available, you'll want to review the order book in relation to the size of your order before posting though given the limited market depth.

The trading engine will soon get a heavy lifting in order to simplify the UI and add brokerage behavior (your orders will get executed against orders on other platforms in order to have much better liquidity)

Thanks for your feedback!

[Boussac]

A suggestion, if I may:

The trading interface (i.e when you enter an order) as it is today is in my opinion a
little confusing: every time I enter an order, I find it difficult to figure out which number
to enter in which box (it might be me, but I suspect I'm not the only one).

What I think would be simpler is something like what follows, where the stuff in {}
represents a drop down, and the stuff in [] represents a numerical field, and the
stuff in | | is a button:

    I want to {Buy|Sell} [AMOUNT] {EUR|BTC}  for [AMOUNT] {EUR|BTC} or more  |CREATE ORDER|

Clearly, some of the combinations won't make sense (e.g. trade BTC for BTC),
but then, the interface can whine about invalid order later once I press the
execute button.

Also, when entering a limit order, sometimes, all you know is that you have
some EUR and the rate you're willing to pay for BTC. You don't want to spend
time figuring out the division ... so entering the order like so:

I want to {Buy|Sell} [AMOUNT] {EUR|BTC}  at a rate of [RATE] {EUR} per {BTC} or better  |CREATE ORDER|

Also, sometimes, when you have, say, EUR100 and just want to grab what BTC is
available and go, expressing this in the form of a limit order is a pain: you need
to calculate things, it's painful (not that painful, but still, it blows).

I'd very much like to be able to place market orders, i.e. something that looks like this:

I want to exchange [AMOUNT] {EUR|BTC} to {EUR|BTC} at current market rates.

Basically what you tell the exchange teller guy at the airport.

Again, if the order entered doesn't make sense, the interface can tell the user.

And if the order is sane, the interface should show an "estimate" of what the
order would yield against a current snapshot of the book before the user press "go".

+1 for these excellent suggestions: I understand they are coming up live soon !