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Author Topic: Intersango exchange (formerly Britcoin)  (Read 70957 times)
dooglus
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June 22, 2011, 04:11:23 PM
 #341

I've taken a look at the cron/process_orders.php code and compared it to the doc/process_order documentation.  It turns out that the code isn't doing what the documentation says it is [...]

I made a clone of the git repository and made some changes to fix these problems:

1) process new book entries in the order they arrive

2) chew through the existing order book matching best prices first

3) when a new order meets an existing order, use the price specified in the existing order, so if there are cheap coins available, it's impossible to buy expensive coins before the cheap coins are gone.

https://gitorious.org/~dooglus/intersango/dooglus-intersango

I've done some basic testing on my local install and it seems fine, but please review the code!

One question:

If you place an order "I want to buy 10 bitcoins for $100" and it turns out there are coins available for less, would you want to
  (a) buy 10 bitcoins and get change from your $100, or
  (b) spend $100 and get more than 10 bitcoins

Likewise, if I say "sell 10 bitcoins for $100" and someone wants to buy them for more, should it:
  (a) sell until you have $100 and keep some bitcoins around, or
  (b) sell all the bitcoins and give you more than $100

It strikes me that in both cases the sensible thing to do is option (b) - don't worry about exceeding what the user said they wanted to get, keep going until they've traded away everything they said they wanted to trade.

Right?

Currently the code is stopping early, doing option (a) in effect when lots of small orders are matched, and option (b) when your order is matched by a single large order.

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drgr33n
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June 22, 2011, 04:14:04 PM
 #342

BTW is anyone in London and want to meet up later? We might get a pizza or something with a few other community members.

Bit far for me I'm in norwich Wink Would be good to arrange a bitcoin boffin meet though Cheesy
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June 22, 2011, 04:16:21 PM
 #343

Can you give us an update about the payments on the 13th?

Have you managed to access them yet and do you know when you'll be able to credit the accounts? also, will the 30 day notice from the bank affect these payments in any way?

Many thanks
genjix
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June 22, 2011, 04:30:00 PM
 #344

Can you give us an update about the payments on the 13th?

Have you managed to access them yet and do you know when you'll be able to credit the accounts? also, will the 30 day notice from the bank affect these payments in any way?

Many thanks

Yep. This will be fixed by the end of the day. We got the problem fixed.
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June 22, 2011, 08:34:10 PM
 #345

Quote from: genjix
Yep. This will be fixed by the end of the day. We got the problem fixed.
Thanks for sorting out the 13th June problem, Already bought and withdrew some bitcoins Smiley
yayy!
Sultan
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June 22, 2011, 10:54:01 PM
 #346

Recently there have been unrealistic trades, apparently, shown on BitCoin Charts. Recently there were BitCoins sold for 5000 each, apparently?

Is something wrong with the site (Charts or Britcoin?) These can't be right.

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June 22, 2011, 10:56:48 PM
 #347

which chart are you referring to?
dooglus
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June 23, 2011, 02:00:00 AM
 #348

which chart are you referring to?

This chart: http://bitcoincharts.com/charts/britcoinGBP#rg60zczsg2011-06-23zeg2011-06-23ztgOzm1g10zm2g25



See also https://britcoin.co.uk/api/getTrades.php for numerical data:

Code:
{"date": 1308779642, "price": 10.1702, "amount": 0.94},
 {"date": 1308780181, "price": 10.2041, "amount": 0.00599566},
 {"date": 1308780782, "price": 500.0000, "amount": 0.01},
 {"date": 1308780841, "price": 5000.0000, "amount": 0.001},
 {"date": 1308781381, "price": 10.2041, "amount": 0.48400469},
 {"date": 1308781441, "price": 10.0000, "amount": 0.8},

Code:
1308780782 -> Wed Jun 22 15:13:02 2011 PST
1308780841 -> Wed Jun 22 15:14:01 2011 PST

so about 3 hours ago.

I suspect someone read my posts here about a bug that causes all trades here to happen at the rate posted by new orders rather than existing ones, and wanted to try it out.

If you attempt to buy 0.001 coins at 5000 BTC/GBP, you will be matched at that rate.  You can pay as much as you like.  That's the bug my patch fixes ( see https://gitorious.org/~dooglus/intersango/dooglus-intersango/commit/98961ecd84e6d8da2e7f4df3d15a90f4e1534dcb for the patch ).

Looking back a bit, it happened too:

Code:
{"date": 1308743881, "price": 10.0000, "amount": 0.06},
 {"date": 1308746401, "price": 9.8000, "amount": 1},
 {"date": 1308747301, "price": 270.2703, "amount": 0.111},
 {"date": 1308747541, "price": 9.7600, "amount": 0.01},
 {"date": 1308747541, "price": 9.7600, "amount": 0.01},

Somebody paid $27 for 0.111 BTC at Wed Jun 22 05:55:01 2011 PST - because that's what they asked for.

http://bitcoincharts.com/charts/britcoinGBP#rg60zigDailyzczsg2011-06-13zeg2011-06-21ztgOzm1g10zm2g25 shows people also paid far too much for BTC on 13-Jun and 21-Jun.


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June 23, 2011, 04:25:22 AM
 #349

BTW is anyone in London and want to meet up later? We might get a pizza or something with a few other community members.

i'll be back in london next week, up for some good pizza for sure
Sultan
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June 23, 2011, 07:15:39 AM
 #350

which chart are you referring to?

This chart: http://bitcoincharts.com/charts/britcoinGBP#rg60zczsg2011-06-23zeg2011-06-23ztgOzm1g10zm2g25



See also https://britcoin.co.uk/api/getTrades.php for numerical data:

Code:
{"date": 1308779642, "price": 10.1702, "amount": 0.94},
 {"date": 1308780181, "price": 10.2041, "amount": 0.00599566},
 {"date": 1308780782, "price": 500.0000, "amount": 0.01},
 {"date": 1308780841, "price": 5000.0000, "amount": 0.001},
 {"date": 1308781381, "price": 10.2041, "amount": 0.48400469},
 {"date": 1308781441, "price": 10.0000, "amount": 0.8},

Code:
1308780782 -> Wed Jun 22 15:13:02 2011 PST
1308780841 -> Wed Jun 22 15:14:01 2011 PST

so about 3 hours ago.

I suspect someone read my posts here about a bug that causes all trades here to happen at the rate posted by new orders rather than existing ones, and wanted to try it out.

If you attempt to buy 0.001 coins at 5000 BTC/GBP, you will be matched at that rate.  You can pay as much as you like.  That's the bug my patch fixes ( see https://gitorious.org/~dooglus/intersango/dooglus-intersango/commit/98961ecd84e6d8da2e7f4df3d15a90f4e1534dcb for the patch ).

Looking back a bit, it happened too:

Code:
{"date": 1308743881, "price": 10.0000, "amount": 0.06},
 {"date": 1308746401, "price": 9.8000, "amount": 1},
 {"date": 1308747301, "price": 270.2703, "amount": 0.111},
 {"date": 1308747541, "price": 9.7600, "amount": 0.01},
 {"date": 1308747541, "price": 9.7600, "amount": 0.01},

Somebody paid $27 for 0.111 BTC at Wed Jun 22 05:55:01 2011 PST - because that's what they asked for.

http://bitcoincharts.com/charts/britcoinGBP#rg60zigDailyzczsg2011-06-13zeg2011-06-21ztgOzm1g10zm2g25 shows people also paid far too much for BTC on 13-Jun and 21-Jun.



This is exactly what I refer to. Is genjix aware of this?

http://images.onbux.com/banner.gif
I then use the money to buy BitCoins. You can too!
dooglus
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June 23, 2011, 07:52:23 AM
 #351

This is exactly what I refer to. Is genjix aware of this?

I don't know but he's posted on this thread since I've been pointing the problem out.

I just noticed another bug.  https://britcoin.co.uk/api/ticker.php shows

Code:
{"ticker": {"vol": 682.0541134, "buy": 10.61, "sell": 10.79, "last": 0.5}}

where 'last' is meant to the be price of the last trade made.  It's been stuck at 0.5 for hours now while trades have been made all between 10.6 and 10.8 GBP/BTC.

It turns out that the SQL query is wrong, and it's really showing the price of the first transaction not the last one.

Fix here: https://gitorious.org/~dooglus/intersango/dooglus-intersango/commit/26f2cfa89affcc60cb4de92479e96847cc1afe52

realnowhereman
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June 23, 2011, 08:40:40 AM
 #352

Quick question about Britcoin BTC deposits.

Britcoin issues a new deposit address whenever it detects a transfer to that address.  Which is good.

What happens if I use that address twice; i.e. I fund it from two sources?  Will Britcoin accept multiple transfers to that one address, or do I have to use the newly issued address?

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June 23, 2011, 01:09:29 PM
 #353

BTW is anyone in London and want to meet up later? We might get a pizza or something with a few other community members.

Would love to meet up one day, but split between Brighton and being somewhat nomadic currently.

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genjix
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June 23, 2011, 02:52:45 PM
 #354

Thanks dooglus for your help. We sent you 10 BC for your help Grin

After some testing, we're going to pull that change.

Did you get my email dooglus?
Caesium
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June 23, 2011, 02:55:26 PM
 #355

Good work dooglus! Cheesy

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seeARMS @ Bit-Bank
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June 23, 2011, 03:55:59 PM
 #356

Yeah Dooglus, nicely done. Smiley

I've been thinking of creating a Canadian-only exchange. This looks like quite an interesting project to help me do so.

Like what I have to say? Send me a few BitCoins if you feel so inclined: http://bit-bank.org/user/seeARMS
dooglus
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June 23, 2011, 08:29:18 PM
 #357

Thanks dooglus for your help. We sent you 10 BC for your help Grin

After some testing, we're going to pull that change.

Did you get my email dooglus?

Thanks a bunch.  Smiley

I did - and will reply right now.

Is there any kind of bug tracker for your exchange code?  If not, I think it would be good to have one.

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June 24, 2011, 07:53:50 PM
 #358

Quick question...

I know it takes 3-5 working days for money to be deposited, but if it's deposited by cash directly into the account at a branch, does this speed up the process?

Thanks!

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dooglus
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June 24, 2011, 08:07:51 PM
 #359

Quick question...

I know it takes 3-5 working days for money to be deposited, but if it's deposited by cash directly into the account at a branch, does this speed up the process?

Thanks!

I deposited a few days ago using Nat West online banking into Britcoin's Lloyds TSB account and it took about 24 hours for the money to show up in my Britcoin account.

I can't imagine that using cash would make it much faster.  Also using cash you take a risk that the cashier might transcribe the reference code wrongly, and then there will be a delay while the guys at Britcoin try to match up the payment with your account.

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June 24, 2011, 09:29:33 PM
 #360

Quick question...

I know it takes 3-5 working days for money to be deposited, but if it's deposited by cash directly into the account at a branch, does this speed up the process?

Thanks!

I deposited a few days ago using Nat West online banking into Britcoin's Lloyds TSB account and it took about 24 hours for the money to show up in my Britcoin account.

I can't imagine that using cash would make it much faster.  Also using cash you take a risk that the cashier might transcribe the reference code wrongly, and then there will be a delay while the guys at Britcoin try to match up the payment with your account.

My intention was to use online banking but I left my stupid card reader thing at my other home!
This is why I'm such a big supporter of these bitcoins because regular payment methods are an absolute joke.
Still no sign of it yet. Yes that is a risk, but I was insistent with the cashier to ensure he inputed it correctly! I had the reference printed out for him to copy down etc... So fingers crossed nothing went wrong! The only reason I was wondering if it's faster is because cash instantly processes into the chosen bank account. There is no admin/ waiting period at all. But of course, if payments are getting manually authorised then it's not going to make much difference. Can't wait to buy some bitcoins!

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