Bitcoin world changing developments at the Bitcoin Stock Exchange (GLBSE)

[Nefario]

As many of you may have noticed I've not been too active on the forums over the last two weeks or so, I've also not really been on IRC or any other kind of chat either.

There are two primary reasons
1) I'm tired of all your shit .... kidding kidding, actually I've got a nasty ear infection thats threatening to turn into an even nastier case of meningitis.
2) I've been (heroically--see above) working on the next version of the Global Bitcoin Stock Exchange.

This has been some time coming, a lot of changes that needed to be made were under the hood, on the server. When we started GLBSE a lot of things were done in a rush and much of the code wasn't very well structured(read: adding features and making changes was painfull and accident prone). Over the last couple of weeks I've been busy refactoring so that we have a nice, clean easy to work with platform.

As of posting I have just brought all the current site functionailty (not the site itself though, thats for tomorrow) over to the new platform and we are almost done with testing.

I intend to finish the final round of testing in about 14 hours from now (essentially I go to bed and continue when I get up in the morning), as long as this doesn't bring out any show stoppers then we will be good to go.

BUT WHAT DOES THIS MEAN FOR ME!!!!!  you scream.

1) You will be able to start using the new python and Node.js libraries to easily start interacting with GLBSE, this means TRADING BOTS and WEBSITE INTEGRATION!!!
2) We will have direct, instant, account to account bitcoin transfer
3) Security will be beefed up even more, and we can finally start recommending the use of GLBSE as an online wallet and instant payment service (probably the most secure out there.)
4) Awesome (as some might say, normal) easy to understand transaction records with things like being able to see exactly how much bitcoin you paid for a particular asset 
5) See what account has transfered bitcoin or assets to yours.
6) Live streaming of all trades using websockets (again for all you bot lovers out there).

And those are just what we will be rolling out tomorrow (crossing fingers), because of the changes in the platform adding features and making changes in the future will be much easier and faster for us. This means that GLBSE will start adding more faetures at a faster rate than before(hopefully).

We'll finally be able to begin adding smart contracts, and options on everything in GLBSE (including bitcoin), and begin development of an Android GLBSE client (which you'll also be able to use for instant mobile btc transfers (or payments as some would like to say).

And finally we'll start rolling out Exchange in a Box, where anyone with a bank account can start their own bitcoin exchange.

Nefario.

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[Anonymous]

*pats nefario on the back. Thanks for battling through the ear infection mate.

We are still looking for a video producer to make some howto videos for glbse.

I believe once nefario has finished glbse will be the place to trade bitcoin and bitcoin companies.

[Bitcoin Swami]

Amazing stuff.  This GLBSE is very very exciting.

[BitcoinStars.com]

Sounds cool. World changing is always fun 

[Nefario]

*pats nefario on the back. Thanks for battling through the ear infection mate.

We are still looking for a video producer to make some howto videos for glbse.

I believe once nefario has finished glbse will be the place to trade bitcoin and bitcoin companies.

The battle is not yet won, and I've not got anything else better to do.

Also GLBSE's never really going to be finished, there's always going to be something else to add to it. But we'll have the basics doen soon enough.

[boonies4u]

2) We will have direct, instant, account to account bitcoin transfer

Will there be any fees incurred on transferring bitcoins between accounts? (since the btc aren't exactly leaving the exchange)

The rest is awesome, GLBSE sounds like it is going great places, and will attract some more start ups, IPOs, and mining contracts. Maybe one day you will even get a legitimate Corporation

All I gotta do is scare cuddlefish into coming back <3 and keep Tawsix in line, then everything will be fine.

[Nefario]

2) We will have direct, instant, account to account bitcoin transfer

Will there be any fees incurred on transferring bitcoins between accounts? (since the btc aren't exactly leaving the exchange)

The rest is awesome, GLBSE sounds like it is going great places, and will attract some more start ups, IPOs, and mining contracts. Maybe one day you will even get a legitimate Corporation

All I gotta do is scare cuddlefish into coming back <3 and keep Tawsix in line, then everything will be fine.

No no, there won't be any fees for direct bitcoin or asset transfers, you'll only pay a fee when you use the market to trade (right now though there are no fees).

Something I forgot to mention is that I'll also be introducing asset and bitcoin escrow (very simple versions at first), and bitcoin laundry (again simple at first).

I'm still working on things and promise to have this up and running before going to sleep.

Nefario.

[Nefario]

Will there still be the .01 btc withdrawl fee, or are you lowering it to .0005? Is the minimum withdrawl size still in effect?

Withdrawl fee will be 0.001, min withdrawl being 0.5btc, thats reasonable right?

So the story is we're on phase 2 of testing, that is remote testing with fresh database.
Next step will be remote testing with current database copy.
Final step of testing will be with current database copy and a live bitcoind to work with.

Once it's passed all the tests for those steps then I'll migrate, although apart from the lower fees you won't notice any difference until I add some features to the web client (glibse already has new records feature).

Testing the shit out of this mother before going live.

Oh current round of testing passed, next round starting (fingers crossed).

[Nefario]

Remote testing with current copy of the database has passed, not final testing with a live bitcoind (and we should see some twitter posts also as a result).

Following this we prepare to go live.

[Sukrim]

Will there still be the .01 btc withdrawl fee, or are you lowering it to .0005? Is the minimum withdrawl size still in effect?

Withdrawl fee will be 0.001, min withdrawl being 0.5btc, thats reasonable right?

Will you actually use at least parts of that fee (let's say 1000 Satoshis for example) as transaction fee to make transactions being included into blocks faster or is it entirely used to cover your service? Will you send out feeless low priority transactions too?

Good luck with your migration and don't overwork yourself! It is definitely not worth risking your health for anything!

[Nefario]

Will there still be the .01 btc withdrawl fee, or are you lowering it to .0005? Is the minimum withdrawl size still in effect?

Withdrawl fee will be 0.001, min withdrawl being 0.5btc, thats reasonable right?

Will you actually use at least parts of that fee (let's say 1000 Satoshis for example) as transaction fee to make transactions being included into blocks faster or is it entirely used to cover your service? Will you send out feeless low priority transactions too?

Good luck with your migration and don't overwork yourself! It is definitely not worth risking your health for anything!

We pay the networks transaction fees so as to get a faster servce, that's mainly what the fee is for, we don't do low priority fees(or whatever...yet).

Also some HAPPY HAPPY NEWS!!!!

Ladies and Gentlemen we are LIVE!!! Our new server code it up and running and kicking!

OK like I said it looks the same more or less, but this is only the start. After I get some sleep I'll be able to easily add all those nice features I mentioned in the first post, most of which are already in glibse, the new command line client.

Get it here https://gitorious.org/glibse

Sadly the old command line client isn't working, but I'll update it tomorrow.

If anyone is having issues with the web client, please clear your browser cache and reload the page.

So I can now say, yes please use GLBSE as a web wallet, use it to make instant fee free person to person payments. It's fast, it's secure, and safe.

And now off to bed, my marathon is over.

[Nefario]

I've just updated the old command line client to work with the new server code.

It also includes bitcoin transfer and records (shows all trades/transfers etc).

Next step is to bring up web socket streaming (this is something that we might make available for other exchanges),then add bitcoin transfer and records to the web client.

Command line users if they have git can just use git to update, if not then you need to update these two fles manually.

https://gitorious.org/black-market/black-market-client/blobs/raw/master/argspar.py
https://gitorious.org/black-market/black-market-client/blobs/raw/master/bmc.py

[Nefario]

Also just to keep you informed, the swapover to the new server code was without any incident. Apart from 10 minutes of trading downtime everything was smooth, and there were no issues. It was so smooth that most people didn't even notice.

Nefario.

[MadSweeney]

Thank you for these developments, especially the web client. I'm finding GLBSE more useable and useful now. Looking forward to the Exchange in a Box. I may be able to use it for the first ever bitcoin exchange in my country.

[Are-you-a-wizard?]

Thanks Satoshi.

[Nefario]

Thank you for these developments, especially the web client. I'm finding GLBSE more useable and useful now. Looking forward to the Exchange in a Box. I may be able to use it for the first ever bitcoin exchange in my country.

Eh the UI still isn't good enough though, need to improve.

[Bitcoin Swami]

Thanks Satoshi.

Is he? that would make alot of sense.