New Bitcoin Trading Exchange available on the i2p Network

[­­­Atlas_]

Will there be an API for trading bots?

[maxkoda]

Yes, a trading API is in the works and a beta is planned to be released shortly after the May 10, 2011 milestone. I currently have some prototype json services that can be called to get market data (order book, and trades) and I'm working on account management authentication and authorization functions that would enable secure algorithmic trading.

I'm also working on providing real-time services so that remote trading platforms can subscribe to, and obtain, real-time tick data using distributed message queues.

Cheers!

Max Koda

[maxkoda]

I just made the multi-contract interface available for testing. There are four contracts that are able to be traded (AG-Silver, AU-Gold, CU-Copper, and OIL-Crude Oil).
Please let me know if you find any issues or bugs.

Cheers!

Max Koda

[bitcoinBull]

I just made the multi-contract interface available for testing. There are four contracts that are able to be traded (AG-Silver, AU-Gold, CU-Copper, and OIL-Crude Oil).
Please let me know if you find any issues or bugs.

Cheers!

Max Koda

I'm not sure I understand this.  These AG/AU/CU/OIL contracts are traded solely on http://bitcoinexchange.i2p, so the price of these contracts won't necessarily reflect the price on e.g. the NYMEX market, is that correct?

[UncleIroh]

hey
does anybody know how do i get rid of this warning i2p gets me?

Code:

Warning: Eepsite Not Found in Addressbook
The eepsite was not found in your router's addressbook. Check the link or find a BASE64 address. If you have the BASE64 address, paste it into your userhosts.txt using SusiDNS, use a BASE64 address helper, or use a jump service link below.

im kind of a noob with i2p
do you the website in the tor network?

[maxkoda]

bitcoinBull,

Yes these contracts will be traded soley on the Bitcoin Exchange and they will have different prices namely because the price on the Bitcoin Exchange will be in Bitcoins not USD. This is no different than how commodities trade on other exchanges around the world. Ultimately the traders on the Bitcoin Exchange will be the entities that set the prices for these commodities.

Max Koda

[maxkoda]

UncleIroh,

The website is an i2p eepsite.

To eliminate this message you need to add the eepsite key to your i2p addressbook.

add the following to your i2p Address book (hosts file):

host name: bitcoinexchange.i2p
destination key:

6bomT0qWEXHZ59WT2DHrttmhgZiokjJqSTGZocuvjEEJ8fYvqzS4kLkb2lbx~a7elSFlv5FyKgi5XvCjeNO3vbev6yBzzKHVPA5BrIElnSBunvfUrLBt5PL6nmJSnfExi6OtHVsL3a74Pl~9UQU3X6QPYrhWbJbXx5TB0zi1hulBMYBGRm7tEEpqllVfJXzc2jtXnrnf14HH6dFweBgB04Wb2oK4ZCjysVC4DRdKk5bt4fT4hJZAgjl4AFy46cuDuR~klhzxUasfIuFbDJkWc7h0O7igKZppZVh8pKOB52T2HLL0YGX07ktl1g54~RbtMjgVMNx1ThdRQOFbIGKM3R9~VldacN~R1oxvEGkcNHjyd2NB6oC758oYDVKI6S-9q6nP37J-sHbNXwME5~vk4Sk6NR3PK9JUr8bBhdg~giEWQmhwo2orP0QRW~eRDp~nIuNNVrinDzBUh65lmSyuec15vu5J9f4f9Bbc63JlOgUCW8rWkx2OS0R9G4tzVkwRAAAA

Then the message will go away.

Max Koda

[UncleIroh]

do I have to register with a real email?

[maxkoda]

I recommend a real but anonymous email address. That way, if necessary, there is a communications path allowing the exchange to communicate with you. However, technically speaking, you do not have to provide a real email address if you prefer not to.

I recommend using the i2p built-in mail client. You can create your own free anonymous email account at:

http://hq.postman.i2p/


Max Koda

[bitcoinBull]

bitcoinBull,

Yes these contracts will be traded soley on the Bitcoin Exchange and they will have different prices namely because the price on the Bitcoin Exchange will be in Bitcoins not USD. This is no different than how commodities trade on other exchanges around the world. Ultimately the traders on the Bitcoin Exchange will be the entities that set the prices for these commodities.

Max Koda

The prices will be different not because of the denomination, but because traders won't be willing to risk an arbitrage on an untrusted market which makes no guarantees of delivering.

Other commodity exchanges actually trade the commodities, where the paper contracts are obligated by regulatory law to deliver in real goods at least a portion of the of the contract.

Your i2P BTC/USD market seems probable to work, because even if unable to withdraw in USD, one can already withdraw the USD elsewhere.  But will anyone risk an arbitrage on an electronic market for a commodities contract with zero backing, not even one single other buyer?  I might risk a tiny bit, if someone else goes first.

[maxkoda]

bitcoinBull,

I see your point. I would agree that the reputation and integrity of the exchange will need to develop and prove itself over time. I am committed to make this exchange a success along with the Bitcoin currency! The current system is corrupt and free markets no longer exist. I'm attempting to play my part in changing this!
Time will tell...

Regarding physical delivery, many systems in place today provide only cash settlements. I know in that I have experienced difficulty taking physical delivery on Gold and Silver futures. Some items traded can only be settled for cash i.e., Electricity, Uranium, Weather, etc. My thinking is that the majority of contracts that trade on the Bitcoin Exchange will be cash settlement since physical delivery poses risks to anonymity. However, I am looking at providing the option for traders to take physical delivery on some of the contracts traded on the Bitcoin Exchange. Physical delivery will involve additional costs (to cover the cost of shipping and handling). The first contract that will offer physical delivery will be the CU copper contract. I'm still working out the details, but if you trade that contract and elect to take physical delivery, you will be able to take delivery of pure copper.

Max Koda