GLBSE 2.0 open for testing

[Nefario]

dividends (after fees) are wrong

10 btc dividends result in 8.93712 btc paid to shareholders.

affected release 18/Mar (guess who forgot to increment counter? wink)

btw if you want to pay dividends visit the asset view page .../asset/view/TICKER
& click pay dividends

the only option to pay dividends is "how much you gonna spend on this?"
easy (and slightly not working)

Hmm, thats an intersting bug. The fee is supposed to be 0.5%, that is a weird number which is also quite wrong. I'm wondering how it arrived at this number, as everything is dealt with using integers.

Let pretend the counter is 20th march for the next couple of minutes 

[1714054802]

1714054802

[mila]

dividends (after fees) are wrong

10 btc dividends result in 8.93712 btc paid to shareholders.

affected release 18/Mar (guess who forgot to increment counter? wink)

btw if you want to pay dividends visit the asset view page .../asset/view/TICKER
& click pay dividends

the only option to pay dividends is "how much you gonna spend on this?"
easy (and slightly not working)

Hmm, thats an intersting bug. The fee is supposed to be 0.5%, that is a weird number which is also quite wrong. I'm wondering how it arrived at this number, as everything is dealt with using integers.

did you try multiple application of a fee? like applying the fee multiple times? seems to be 2 times applied fee at first glance.
check your SYN1 dividends table, I repeated it 5 times to be sure that it's wrong. good news is it's consistently wrong so probably a sw error.

[Nefario]

I've made a couple of updates to try to fix this bug.

Cancelled all orders and reset the account reserve to 0.

[mila]

can't reproduce the dividend bug

@Nefario interesting update on dividend bug, I could pay correct dividends of 99.5% of debited amount and could not reproduce the wrong and silly numbers reported earlier. it was probably also flawed testcase and the lack of bitcoin history (equivalent to 1.0 bitcoin history).

solution: not an issue. the dividends were paid properly (verified several times since test case updated). I was reading the wrong parts of the screen when looking for written traces of the payment.
the field Dividend history was changed after each payment but it was not dividend paid but dividend received.
from the account of asset manager on page /portfolio in table fees paid is always the right amount calculated (0.5%)
and from the account of asset manager on page /asset/view/TICKER in field Dividend payments all entries are correct (show data like)
2012-03-20 00:37   6.965   668   0.01042664
2012-03-20 02:22   9.95   668   0.0148952
2012-03-20 03:39   9.95   668   0.0148952
2012-03-20 03:43   9.95   1001   0.00994005

probably I should sleep as well a bit more. I wondered already if a payment of dividends can be cross-manageable across assets.
now I go and properly cancel the bug note in previous posts.

in the meantime I drafted this piece of howto https://sourceforge.net/p/glbseguide/blog/2012/03/user-20-how-to-register--transfer-account-from-10/

[mila]

I've made a couple of updates to try to fix this bug.

Cancelled all orders and reset the account reserve to 0.

I confirm after cancelling buy order the reserve is correctly updated

It is also correctly updated the total reserve after first buy order is created
(even if on form load it showed 0 reserved and an existing buy order, which was expected after the account reserve was reset)

can be closed. also my other tests with reserved btc succeeded
edit: except for btc kept in reserve if buy order price > actual buy price

[OgNasty]

A major item is the inclusion of fees, as in trading fees.
Trade fees will be paid for by the seller, 1%
Default asset creation fee is 8btc.
There will also be dividend fees, when a dividend is paid out, planning 0.5%

Nefario.

I wanted to give my 2 satoshis on this.  I do not agree with the decision to charge a dividend fee.  It is not in the best interests of my shareholders or the users of your site.  It is also not a standard practice for brokerages and I feel it should not be put in place.

[JL421]

A major item is the inclusion of fees, as in trading fees.
Trade fees will be paid for by the seller, 1%
Default asset creation fee is 8btc.
There will also be dividend fees, when a dividend is paid out, planning 0.5%

Nefario.

I wanted to give my 2 satoshis on this.  I do not agree with the decision to charge a dividend fee.  It is not in the best interests of my shareholders or the users of your site.  It is also not a standard practice for brokerages and I feel it should not be put in place.

I would also like to second this, and I'd say more, but more doesn't really need to be said.

[DeaDTerra]

A major item is the inclusion of fees, as in trading fees.
Trade fees will be paid for by the seller, 1%
Default asset creation fee is 8btc.
There will also be dividend fees, when a dividend is paid out, planning 0.5%

Nefario.

I wanted to give my 2 satoshis on this.  I do not agree with the decision to charge a dividend fee.  It is not in the best interests of my shareholders or the users of your site.  It is also not a standard practice for brokerages and I feel it should not be put in place.

I would also like to second this, and I'd say more, but more doesn't really need to be said.

I agree, I would rather then having the fees added in trading/dividends to have the fees when you deposit/withdraw. That way you do not discourage trading and higher volumes, already we have quite big spreads on GLBSE.
//DeaDTerra

[labestiol]

I'm a total newb about stock markets other than bitcoin, how are the fees distributed usually ?

[OgNasty]

I'm a total newb about stock markets other than bitcoin, how are the fees distributed usually ?

Typically, trading fees are all that would apply.  Since the GLBSE acts as an exchange and a brokerage, an asset creation fee is also acceptable, in my opinion.

[Nefario]

I agree, I would rather then having the fees added in trading/dividends to have the fees when you deposit/withdraw.

We only had withdrawal fees on GLBSE1.0 to cover the fee's paid to the network for processing the transaction, it's a tiny amount and was never a source of income(to balance our books and the wallet).

Exchanges have trade fees, that's the exchange business model, and GLBSE has been the exception only in that we've not charged anything over new asset fees (and those were there to discourage spam/scam assets, remember initially it was free).

The fact is GLBSE has been running off it's own capital for more than a year at this point, and "revenue" doesn't come close to covering costs, for 1 months of charts.glbse.com it cost ~25BTC.

Other costs include hosting, advertising, development etc.

I'll reconsider having fees on dividends for the time being, but keep in mind it all depends on how well GLBSE sustains itself (never mind make a profit) on the soon to be introduced fee system. If we can't get into the black then there isn't going to be a GLBSE.

Not to worry though we've still got about a year worth of runway left, and 2.0 is changing everything.

Nefairo

[stochastic]

I agree, I would rather then having the fees added in trading/dividends to have the fees when you deposit/withdraw.

We only had withdrawal fees on GLBSE1.0 to cover the fee's paid to the network for processing the transaction, it's a tiny amount and was never a source of income(to balance our books and the wallet).

Exchanges have trade fees, that's the exchange business model, and GLBSE has been the exception only in that we've not charged anything over new asset fees (and those were there to discourage spam/scam assets, remember initially it was free).

The fact is GLBSE has been running off it's own capital for more than a year at this point, and "revenue" doesn't come close to covering costs, for 1 months of charts.glbse.com it cost ~25BTC.

Other costs include hosting, advertising, development etc.

I'll reconsider having fees on dividends for the time being, but keep in mind it all depends on how well GLBSE sustains itself (never mind make a profit) on the soon to be introduced fee system. If we can't get into the black then there isn't going to be a GLBSE.

Not to worry though we've still got about a year worth of runway left, and 2.0 is changing everything.

Nefairo

I think a dividend fee is not a bad idea.  Other than that it is either charging a listing fee once or monthly.  Nefario could also be charging buyers a flat fee or a percentage of their equity purchases.  I think the former would not be a bad option as it basically is doing the same thing as a dividend fee but not with those words.  The latter would keep people from trading which is what you want them to do on GLBSE.

[Nefario]

Latest updates and bugfixes are here. version march22

Fixed mail message bug where clicking on a message in the outbox caused an error.

Have added protection against CSRF.

Are we still having issues with the BTC reserve going down after orders are processed?

Last big push guys, database hasn't been reset so your accounts should all be there.

[mila]

Are we still having issues with the BTC reserve going down after orders are processed?

yes. see user ne@nada.va

gui/design remark/wish: can the "Account showing:" be visible on every page while user is logged in?

currently it's only visible in 'Portfolio' and I think it even changes while I click on the assets and different other pages and often loose track which account I am using. that would be huge usability improvement (keep the Account showing: in header on all pages)

also I miss a summary 'Bitcoin history' view in the 2.0. got used to it and it's easier to read than the tables with partial info (fees paid, trades, etc). just my next 2 satoshi on the subject.

also zero volume trades are still possible : (

[abbeytim]

i know this may be off topic but i sent you a pm nefarius i deposited 26+ bitcoins the other day and never got them

also i just deposited another 6+ bitcoins and havent received them either my user id is

User Id:111f990e606b6015bd915e3c8dbc42450080416d31f5d74ef353d8b4ed9f5d72

could you look into it for me  i sent you a pmwith more info on the first deposit

thankyou

[molecular]

Hi,

tried to sign up on dev.glbe.com

got an error, has to do with csrf.

I save the error page: http://pastebin.com/yQ2bmnGx (too big for a screenshot)

[Nefario]

Hi,

tried to sign up on dev.glbe.com

got an error, has to do with csrf.

I save the error page: http://pastebin.com/yQ2bmnGx (too big for a screenshot)

Thanks for that, I'll get that one taken care of in a couple of hours. To use CSRF protection I needed to add a tag to every single form, I thought I had gotten them all, oh well this is what testing is for.

[Nefario]

Are we still having issues with the BTC reserve going down after orders are processed?

yes. see user ne@nada.va

gui/design remark/wish: can the "Account showing:" be visible on every page while user is logged in?

currently it's only visible in 'Portfolio' and I think it even changes while I click on the assets and different other pages and often loose track which account I am using. that would be huge usability improvement (keep the Account showing: in header on all pages)

also I miss a summary 'Bitcoin history' view in the 2.0. got used to it and it's easier to read than the tables with partial info (fees paid, trades, etc). just my next 2 satoshi on the subject.

also zero volume trades are still possible : (

I'll add the account showing(and the username) to all pages, good idea.
I've got to hunt down that reserve bug- thats the big one for today.
I'll tackle zero volume trades as well.

I'm planning to just have one chronological view of all transactions, and where fee's would be tied to the transactions they're on. For the time being it's all split into different sections.

Thanks for the testing.

[molecular]

I'm planning to just have one chronological view of all transactions, and where fee's would be tied to the transactions they're on. For the time being it's all split into different sections.

A good idea!

EDIT: can you drop a line here when signup should work so I can help testing?

[Nefario]

I'm planning to just have one chronological view of all transactions, and where fee's would be tied to the transactions they're on. For the time being it's all split into different sections.

A good idea!

EDIT: can you drop a line here when signup should work so I can help testing?

Fixed that bug, actually it highlighted a vulnerability. New accounts can be created.

Focusing now on the BTC reserve bug now.