Place LIMIT orders on Coinbase - online app

[DrBitcoin]

What happens in this scenario? (Here is an example)

-Price of Bitcoin is $700
-I have a 1BTC Buy order at $600
-I have a 2BTC Buy order at $500
-I have a 3BTC Buy order at $400
-Price of Bitcoin drops to $300

Does it execute all buy orders? Or just the first one? Is there a refractory period? Thanks. Just curious.

If price suddenly drops to $300, all the orders will get executed, so you'll get 6 btc in total, at various prices.

Excellent. Thanks.

[jorbla]

This website looks pretty cool.  I made a similar thing as an Android app that you guys could check out:
https://play.google.com/store/apps/details?id=com.black7software.coinbaseexchange 
It has support for multiple concurrent buy / sell orders, 8 different order types, order history, notifications, and other cool stuff.

[geri]

I've submitted it on BitHack competition by Coinbase, thanks guys for suggestions.

Dear BitHacker,

Thank you for taking part in BitHack and submitting your entry to us. We're delighted to receive your app and we look forward to trying it out!

[wisefear]

Hey Tom. This is awesome and I would like to contribute to development. Let's chat about getting me set up.

[geri]

Hey, here's most of what you'll need: https://github.com/tomholub/coinbaseorders . I'll help you set up dev environment so you can run it locally. Happy for any help! :-)

[MoreBloodWine]

I really want to use this. How does it execute orders without compromising security on coinbase?

It lets you connect it to Coinbase (the way you would connect online app to Facebook).

When connecting, it asks you for permissions - buy Bitcoin, sell Bitcoin, view transaction history. It stores tokens encrypted in database, and this is all anyone could do with these tokens.

If the app does get compromised by a 3rd party, the only thing the attacker would get are tokens to buy and sell Bitcoins on someone else's account, but no way to get the Bitcoins out of the account.

Other than that, there's basic security measures like XSS or SQL injection protection mechanisms

I'd be interested in using this "app" but only if you would add the google 2fa. Simply because if the quoted does happen, you can't go crying to coinbase to get the "deal" reversed which depending on coin price you can easily lose money. Not just on say a dip if someone bought at $500 and you notice it at $450 but the money lost in coinbase fees and bank fees for transfers you weren't prepared for thus causing $35 NSF fees.

Just because the attacker can't get the coin doesn't mean they still can't fuck you over.

[ecrick3]

Excellent app better if added google 2fa.

[geri]

I'd be interested in using this "app" but only if you would add the google 2fa. Simply because if the quoted does happen, you can't go crying to coinbase to get the "deal" reversed which depending on coin price you can easily lose money. Not just on say a dip if someone bought at $500 and you notice it at $450 but the money lost in coinbase fees and bank fees for transfers you weren't prepared for thus causing $35 NSF fees.

Just because the attacker can't get the coin doesn't mean they still can't fuck you over.

You need to look at the motivation though. What has an "attacker" to gain from buying coins on your account?

That being said, I will support any effort to add Google 2 Factor, the code is open source after all. Anyone who wants to look into this, I'll be happy to help you out.

[MoreBloodWine]

I'd be interested in using this "app" but only if you would add the google 2fa. Simply because if the quoted does happen, you can't go crying to coinbase to get the "deal" reversed which depending on coin price you can easily lose money. Not just on say a dip if someone bought at $500 and you notice it at $450 but the money lost in coinbase fees and bank fees for transfers you weren't prepared for thus causing $35 NSF fees.

Just because the attacker can't get the coin doesn't mean they still can't fuck you over.

You need to look at the motivation though. What has an "attacker" to gain from buying coins on your account?

That being said, I will support any effort to add Google 2 Factor, the code is open source after all. Anyone who wants to look into this, I'll be happy to help you out.

The thing an attacker has to gain is just being able to mess with someone by accumulating banking fees etc that they're not responsible for.