2weiX
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Activity: 2058
Merit: 1005
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May 07, 2012, 12:02:31 PM |
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What we do every Friday night is a simple limit sell order, not a dutch auction.
GLBSE does not offer the function you describe.
We have described in detail exactly how it works. Perhaps your comments belong in a separate thread for requesting new GLBSE functionality?
Hi, I harbor no hard feelings as per the way you conduct things, I know it increases your margin and that the functionalitly isn't included. But I am customer (in that case) and would prefer better prices) :-D And of course I posted in the GLBSE feature request thread. |
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I HATE TABLES I HATE TABLES I HA(╯°□°）╯︵ ┻━┻ TABLES I HATE TABLES I HATE TABLES
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PatrickHarnett
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May 07, 2012, 08:21:12 PM |
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This is a pet peeve of mine regarding the use of the word "auction": If i understand correctly, you will fill the bids from top to bottom, so if you were to "auction" 500 shares and there were the following bids: 100@1.20100@1.18100@1.15100@1.14100@1.10then each of those will pay their bid price. My understanding (and the way this works in the real world) would be that all 500 shares should be allotted at the lowest price where all auctioned shares will be traded, which in this case should be 1.10 BTC! Of course, when there are multiple orders at the lowest price limit, one would need to apply time-price-priority (orders are ranked by price, order of same price are ranked by time, oldest first). Whilst I agree that this cuts into your margin, I will strongly advocate for GLBSE to implement such a modus for IPOs. As has been pointed out, there are several auction types. What you are referring to is the type where a clearing price is set (intersection of supply and demand). Terminology will get in the way, but progressive pricing auctions are also common, and the operation on the GLBSE is progressively filling the orders until the supply is used. If you look at the spread around the bottom price, you might find there is not too much variation and the average premium over the bottom price was 0.0033. |
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The00Dustin
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May 07, 2012, 11:36:00 PM |
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I find it interesting that there are complaints about the type of auction. If I was going to complain, I would complain that the bids are public. This complaint woud be based on the fact that treasury bill bids are private and such a functionality would get rid of market manipulation.
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imsaguy
General failure and former
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Don't send me a pm unless you gpg encrypt it.
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May 07, 2012, 11:40:13 PM |
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I find it interesting that there are complaints about the type of auction. If I was going to complain, I would complain that the bids are public. This complaint woud be based on the fact that treasury bill bids are private and such a functionality would get rid of market manipulation.
Makes sense. I'm leery of more secrecy in the bitcoin community though. Everyone wants full disclosure for everyone else's business. I can only imagine they'd be on a witch hunt here before long. |
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PatrickHarnett
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May 08, 2012, 08:27:53 PM |
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This change would be effective staring with the sale of PPT.E which would be moved from 5/19/12 2:00 AM UTC to 5/19/12 5:00 PM UTC.
We will be discussing this at our next BOD meeting.
I'll be snoring through the bond issues given the suggested time. |
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exahash
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May 08, 2012, 08:49:39 PM |
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However, we are seriously considering moving the date and time of the sale from Saturday morning at 2 AM UTC (that is every Friday evening at 7 PM PDT, 8 PM MDT, 9 PM CDT and 10 PM EDT) to something like Saturday evening at 5 PM UTC (that is every Saturday morning at 10 AM PDT, 11 AM MDT, 12 PM CDT and 1 PM EDT).
I'm on EDT. Mid-day on a Saturday? I'm not around then for sure. I really liked the idea about splitting the sale up. You'd see with just one test how successful (or not) it is, and get an idea of when your buyers are available. |
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stochastic
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May 08, 2012, 09:23:02 PM |
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However, we are seriously considering moving the date and time of the sale from Saturday morning at 2 AM UTC (that is every Friday evening at 7 PM PDT, 8 PM MDT, 9 PM CDT and 10 PM EDT) to something like Saturday evening at 5 PM UTC (that is every Saturday morning at 10 AM PDT, 11 AM MDT, 12 PM CDT and 1 PM EDT).
I'm on EDT. Mid-day on a Saturday? I'm not around then for sure. I really liked the idea about splitting the sale up. You'd see with just one test how successful (or not) it is, and get an idea of when your buyers are available. From the data I looked at a few weeks ago, it looks like most trading occurs during Wednesday, but I did not do any deep analysis of it. |
Introducing constraints to the economy only serves to limit what can be economical.
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REF
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May 11, 2012, 02:01:07 PM |
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Excited to see an increase in the number of bonds sold already especially with a bid of 1000 around. |
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Tomatocage
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brb keeping up with the Kardashians
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May 11, 2012, 04:02:04 PM |
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Looks like somebody doesn't want to be outbid...
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Nefario
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May 11, 2012, 04:44:19 PM |
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GLBSE is down for the moment until we've completed our security sweep. I can't give a fixed time to when that will be.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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REF
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May 11, 2012, 04:50:03 PM |
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Looks like somebody doesn't want to be outbid...
me? nah Im around for the bond release. |
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Sukrim
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May 11, 2012, 05:04:48 PM |
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Oh, just admit it: You want to do some arb on the side on MPOE and screw Mr. Popescu out of some coin with his offer...  |
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Mousepotato
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May 11, 2012, 05:40:11 PM |
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We are keeping an eye on this and are in communications with GLBSE. We are all hoping that the security sweep will be done in time for the PPT.D sale in about 8 hours from now. And if it's not? |
Mousepotato
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imsaguy
General failure and former
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Don't send me a pm unless you gpg encrypt it.
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May 11, 2012, 06:15:53 PM |
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We are keeping an eye on this and are in communications with GLBSE. We are all hoping that the security sweep will be done in time for the PPT.D sale in about 8 hours from now. And if it's not? We'll reschedule of course. |
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Otoh
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May 11, 2012, 06:18:03 PM |
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a good opportunity to move it to Saturday @ whatever UTC was voted best in the PPT Europe thread perhaps
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imsaguy
General failure and former
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Don't send me a pm unless you gpg encrypt it.
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May 11, 2012, 08:51:54 PM |
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GLBSE currently appears to be up.
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exahash
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May 12, 2012, 01:46:53 AM |
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15 minutes to go and it looks like glbse can't handle the load! I'm getting even more nginx gateway timeouts than usual; can't even get to the asset/view page.
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Mousepotato
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May 12, 2012, 01:48:10 AM |
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15 minutes to go and it looks like glbse can't handle the load! I'm getting even more nginx gateway timeouts than usual; can't even get to the asset/view page.
Put in a low bid, then DDoS the site FTW? |
Mousepotato
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Mousepotato
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May 12, 2012, 01:50:29 AM |
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Why can't the 1000+ bidders just get their own BTCST account?  |
Mousepotato
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MrTeal
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May 12, 2012, 01:51:34 AM |
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Why can't the 1000+ bidders just get their own BTCST account? We'll see if it goes through, or if it disappears with a minute left.  |
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