Bitcoin Forum
December 04, 2016, 02:09:22 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 [24] 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 »
  Print  
Author Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE  (Read 88470 times)
Fireball
Hero Member
*****
Offline Offline

Activity: 673


View Profile WWW
January 24, 2013, 09:37:43 PM
 #461

It would be a desirable improvement to produce more explicit feedback when actions are rejected.

On several instances, ICBIT rejects actions, but leaves to the user to guess the reason.
  • sometimes, orders in one direction are rejected when they cross your own orders in the opposite direction. While this is a good feature to prevent erroneously priced orders, it is a real annoyance regarding market orders (since they seemingly are entered as limit orders with the maximum/minimum allowed price for that trading session). At least, ICBIT should give a verbal indication what is wrong, instead of just writing "Rejected". Moreover, this notice should be visible immediately -- currently it is often necessary to reload the page.
  • Sometimes, additional offers are rejected when you have already an order in the same direction close by. Maybe there is a heuristics to prevent a single account to produce more than x % of the current Bid / Ask side? Anyway, ICBIT should at least indicate what is wrong, and do so immediately.
  • When processing withdrawals, there seems to be an additional risk calculation. The required margin seems to be calculated different than what is displayed as available margin; my guess is that pending losses and maybe even the possibility of executing an offer is included somehow different then in the displayed margin. Anyway, again, ICBIT should
    • immediately indicate why the withdrawal would be rejected, and what amount can effectively be withdrawn.
    • immediately create an permanent entry in the withdrawal history -- maybe even just with "pending", or "requires manual approval"
    Right now, all that happens is a script generated text in the current page "your request has been queued". I have witnessed numerous times, that even hours after such a request, nothing appeared on blockchain, nor was there any visible notice indicating why the withdrawal was not performed. The latter is especially annoying, since sometimes you just want to use excess funds elsewhere temporarily, and you need to get them out within some predictable time.

While these improvements are certainly not necessary for the basic trading functionality, they would render the platform more responsive and tangible for the user.

This is already in-progress, as a very demanded feature. That is, the orders rejection description.

However, as for withdrawals, it's somehow different, and your last two statements are already there for a long time.
The first step of withdrawal validation happens after hitting the withdraw button and it just checks whether you entered correct data, and outputs friendly error message (e.g. "invalid bitcoin address", "invalid amount specified").
If it passes these checks, then it's added to the transactions queue ("Your payout request has been queued. Once it's processed, transaction amount will be deducted from your account.").
From this moment, you can see it in the Transaction table, at the bottom of the Funds table. To the right of it will be its status. Nothing for pending/unprocessed transactions, link to the corresponding transaction for a successfull payout, or rejection if there were not enough money.

Mainly, I find that the empty "Status" is confusing. I will make it default to Pending then.

Thanks for your suggestions!

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
There are several different types of Bitcoin clients. Header-only clients like MultiBit trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480817362
Hero Member
*
Offline Offline

Posts: 1480817362

View Profile Personal Message (Offline)

Ignore
1480817362
Reply with quote  #2

1480817362
Report to moderator
1480817362
Hero Member
*
Offline Offline

Posts: 1480817362

View Profile Personal Message (Offline)

Ignore
1480817362
Reply with quote  #2

1480817362
Report to moderator
1480817362
Hero Member
*
Offline Offline

Posts: 1480817362

View Profile Personal Message (Offline)

Ignore
1480817362
Reply with quote  #2

1480817362
Report to moderator
Ichthyo
Hero Member
*****
Offline Offline

Activity: 602


View Profile
January 24, 2013, 11:43:25 PM
 #462

    It would be a desirable improvement to produce more explicit feedback when actions are rejected.
    On several instances, ICBIT rejects actions, but leaves to the user to guess the reason.
    ...
    Right now, all that happens is a script generated text in the current page "your request has been queued". I have witnessed numerous times, that even hours after such a request, nothing appeared on blockchain, nor was there any visible notice indicating why the withdrawal was not performed. The latter is especially annoying, since sometimes you just want to use excess funds elsewhere temporarily, and you need to get them out within some predictable time.[/li][/list]

    The first step of withdrawal validation happens after hitting the withdraw button and it just checks whether you entered correct data, and outputs friendly error message (e.g. "invalid bitcoin address", "invalid amount specified").
    If it passes these checks, then it's added to the transactions queue ("Your payout request has been queued. Once it's processed, transaction amount will be deducted from your account.").
    From this moment, you can see it in the Transaction table, at the bottom of the Funds table. To the right of it will be its status. Nothing for pending/unprocessed transactions, link to the corresponding transaction for a successfull payout, or rejection if there were not enough money.

    so there might be a bug hidden somewhere.
    Just to confirm, I've tried to initiate a withdrawal of 20 BTC.
    There is indeed the message indicating that the request was generated and queued. But nothing else. No new entry in the transactions list, and no BTC transaction, even now, after about 1 hour. When I reload the "funds" tab, of course then the green message is gone, but still no entry in the Transactions list.

    Actually I've never seen a new entry in the transactions list before also the real BTC transaction was propagated to the network. So maybe there is some problem just with some browsers, or just some acconts. I am using Firefox 17.0.1 on Ubuntu.
    starik69
    Legendary
    *
    Offline Offline

    Activity: 1180


    View Profile
    January 25, 2013, 06:58:48 AM
     #463

    There is indeed the message indicating that the request was generated and queued. But nothing else. No new entry in the transactions list, and no BTC transaction, even now, after about 1 hour. When I reload the "funds" tab, of course then the green message is gone, but still no entry in the Transactions list.

    Actually I've never seen a new entry in the transactions list before also the real BTC transaction was propagated to the network. So maybe there is some problem just with some browsers, or just some acconts. I am using Firefox 17.0.1 on Ubuntu.

    Confirm this.
    From this moment, you can see it in the Transaction table, at the bottom of the Funds table.
    This is not happening.

    ██████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    █████████████████████
    ████████████████████████
    ████████████████████████
    ██████████████████████
    ██████████████████████
    ███████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    ██████████████████████
    |
    WINGS           
    Where DAO Unicorns are born
    |
    .
    1st Bitcoin & Ethereum DAO for DAOs                                               
    1st Decentralized Chatbot to Smart Contracts Interaction System

    |
    .
    Wings Bounties Earn Eggs     
    X-Blockchain DAO

    Happy Egg Hunting
    picobit
    Hero Member
    *****
    Offline Offline

    Activity: 547


    Decor in numeris


    View Profile
    January 25, 2013, 08:26:06 PM
     #464

    From this moment, you can see it in the Transaction table, at the bottom of the Funds table. To the right of it will be its status. Nothing for pending/unprocessed transactions, link to the corresponding transaction for a successfull payout, or rejection if there were not enough money.
    Unfortunately, neither the pending nor the rejected transactions appear in the transaction table.  I am 100% about the pending, and 95% sure about the rejected transactions not appearing - at least I have had transactions rejected (or at least never going through) in the past, and never showing up.   I guess there is a small bug here. Smiley
    Fireball
    Hero Member
    *****
    Offline Offline

    Activity: 673


    View Profile WWW
    January 25, 2013, 08:35:59 PM
     #465

     I guess there is a small bug here. Smiley
    Allright, bug report accepted, going to investigate and fix Wink

    Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
    Follow us in Twitter: https://twitter.com/orderbooknet
    Stephen Gornick
    Legendary
    *
    Offline Offline

    Activity: 1988



    View Profile
    January 25, 2013, 08:57:37 PM
     #466

    Feature request:

    Ability for me to cause a new deposit address to be generated for my account.  

    Currently, the blockchain shows all my deposits to a single Bitcoin address that get credited to my wallet at ICBIT.

    The whole concept of there being a new Bitcoin address for each transaction is so that privacy is maximized.    Because the wallet is a hosted (shared) EWallet, the funds I deposit will likely be withdrawn by someone else, thus there are clues out there that the address is associated with ICBIT deposits and those addresses might get scrutinized further to try to determine the identity or other clues about who is the party responsible.

    Ichthyo
    Hero Member
    *****
    Offline Offline

    Activity: 602


    View Profile
    January 26, 2013, 12:12:20 AM
     #467

     I guess there is a small bug here. Smiley
    Allright, bug report accepted, going to investigate and fix Wink

    Meanwhile Alex from ICBIT support answered to my PM showing me the internal deatils visible in the DB.
    Also, we did another experiment. The situation seems to be as follows
    • the decision about allowing or rejecting a withdrawal is done on the server, and might happen a bit later -- and the available margin at that moment is what counts. Due to fluctuations in open positions, a pending request might be rejected.
    • however, only withdrawals associated with a bitcoin transaction seem to show up in the transactions list. Neither pending requests, nor rejected requests are visible -- at least in those Firefox versions I was able to try.
    picobit
    Hero Member
    *****
    Offline Offline

    Activity: 547


    Decor in numeris


    View Profile
    January 28, 2013, 06:59:29 PM
     #468

    With around 2 weeks to go before settlement of GDG3 and CLG3 I am wondering if they will be replaced by new series, or if the volumes has been too low.

    Ichthyo
    Hero Member
    *****
    Offline Offline

    Activity: 602


    View Profile
    January 29, 2013, 01:02:00 AM
     #469

    ...or if the volumes has been too low.

    an iliquid market can both be a drawback or a benefit.
    It was both harder to get in and out of an Oil (or even more Gold) furures position. For example, during that smack down the last days, the effect on CLG or GDG was only marginal, which IMHO was a good thing.
    Fireball
    Hero Member
    *****
    Offline Offline

    Activity: 673


    View Profile WWW
    January 29, 2013, 10:47:00 AM
     #470

    however, only withdrawals associated with a bitcoin transaction seem to show up in the transactions list. Neither pending requests, nor rejected requests are visible -- at least in those Firefox versions I was able to try.[/li][/list]

    This is fixed now, and all rejected and pending BTC withdrawals will show up in your Transactions table.

    Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
    Follow us in Twitter: https://twitter.com/orderbooknet
    picobit
    Hero Member
    *****
    Offline Offline

    Activity: 547


    Decor in numeris


    View Profile
    January 29, 2013, 04:26:53 PM
     #471

    ...or if the volumes has been too low.

    an iliquid market can both be a drawback or a benefit.
    It was both harder to get in and out of an Oil (or even more Gold) furures position. For example, during that smack down the last days, the effect on CLG or GDG was only marginal, which IMHO was a good thing.

    Agreed.  I was asking because I am hoping that new series will appear.  Wink
    Ichthyo
    Hero Member
    *****
    Offline Offline

    Activity: 602


    View Profile
    January 30, 2013, 02:04:10 AM
     #472

    I was asking because I am hoping that new series will appear.  Wink

    me can haz future oil ?
    picobit
    Hero Member
    *****
    Offline Offline

    Activity: 547


    Decor in numeris


    View Profile
    January 30, 2013, 09:19:33 AM
     #473

    This is fixed now, and all rejected and pending BTC withdrawals will show up in your Transactions table.
    They do indeed.  Thank you very much for fixing this!
    starik69
    Legendary
    *
    Offline Offline

    Activity: 1180


    View Profile
    January 31, 2013, 05:37:29 PM
     #474

    How this could be? Huh

    ██████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    █████████████████████
    ████████████████████████
    ████████████████████████
    ██████████████████████
    ██████████████████████
    ███████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    ██████████████████████
    |
    WINGS           
    Where DAO Unicorns are born
    |
    .
    1st Bitcoin & Ethereum DAO for DAOs                                               
    1st Decentralized Chatbot to Smart Contracts Interaction System

    |
    .
    Wings Bounties Earn Eggs     
    X-Blockchain DAO

    Happy Egg Hunting
    Fireball
    Hero Member
    *****
    Offline Offline

    Activity: 673


    View Profile WWW
    January 31, 2013, 05:38:16 PM
     #475

    Extra clearing will happen only if the spot BTC/USD rate goes above the current futures trading range ($22.11 per 1 BTC today).

    Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
    Follow us in Twitter: https://twitter.com/orderbooknet
    starik69
    Legendary
    *
    Offline Offline

    Activity: 1180


    View Profile
    January 31, 2013, 05:58:11 PM
     #476

    Why the "last price" is higher than trading range?

    ██████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    █████████████████████
    ████████████████████████
    ████████████████████████
    ██████████████████████
    ██████████████████████
    ███████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    ██████████████████████
    |
    WINGS           
    Where DAO Unicorns are born
    |
    .
    1st Bitcoin & Ethereum DAO for DAOs                                               
    1st Decentralized Chatbot to Smart Contracts Interaction System

    |
    .
    Wings Bounties Earn Eggs     
    X-Blockchain DAO

    Happy Egg Hunting
    molecular
    Donator
    Legendary
    *
    Offline Offline

    Activity: 2128



    View Profile
    January 31, 2013, 06:08:40 PM
     #477

    I seem to be misunderstanding something: I'm trying to submit a sell order on BUH3: 1 for 22.50. Page says: "specified price is not within allowed range". Can someone explain that to me?

    PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
    Fireball
    Hero Member
    *****
    Offline Offline

    Activity: 673


    View Profile WWW
    January 31, 2013, 06:12:43 PM
     #478

    Why the "last price" is higher than trading range?
    This price will not be used to issue margin calls. I will fix it so that it remains within trading range boundaries.

    Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
    Follow us in Twitter: https://twitter.com/orderbooknet
    starik69
    Legendary
    *
    Offline Offline

    Activity: 1180


    View Profile
    January 31, 2013, 06:43:44 PM
     #479

    This price will not be used to issue margin calls. I will fix it so that ...
    Sorry, but then what the word "last" means? I thought it is the price of the last deal of the futures contract  Roll Eyes

    ██████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    █████████████████████
    ████████████████████████
    ████████████████████████
    ██████████████████████
    ██████████████████████
    ███████████████████████
    ████████████████████████
    ████████████████████████
    ████████████████████████
    ███████████████████████
    ██████████████████████
    |
    WINGS           
    Where DAO Unicorns are born
    |
    .
    1st Bitcoin & Ethereum DAO for DAOs                                               
    1st Decentralized Chatbot to Smart Contracts Interaction System

    |
    .
    Wings Bounties Earn Eggs     
    X-Blockchain DAO

    Happy Egg Hunting
    Fireball
    Hero Member
    *****
    Offline Offline

    Activity: 673


    View Profile WWW
    January 31, 2013, 06:47:24 PM
     #480

    This price will not be used to issue margin calls. I will fix it so that ...
    Sorry, but then what the word "last" means? I thought it is the price of the last deal of the futures contract  Roll Eyes

    Yes, however if there were no deals within recent N minutes, it's computed as the middle between best ask and best bid, to track the market move and manage risks.

    Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
    Follow us in Twitter: https://twitter.com/orderbooknet
    Pages: « 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 [24] 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 »
      Print  
     
    Jump to:  

    Sponsored by , a Bitcoin-accepting VPN.
    Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!