Will you use InstantDEX?

[monsterer]

What currencies can you trade on this? Cryptocoins? Fiat? How are the orders fulfilled?

Any asset can be traded (also MScoins can be supported). So the InstantDEX is a fully decentralized way of trading fully decentralized NXT assets.

That means whatever assets exist, can be traded, such as multisig deposit backed MGW crypto assets.

InstantDEX <-> (NXT assets) <-> asset issuers

The following has detailed description of how the orders fulfilled with the v1 InstantDEX
https://nxtforum.org/index.php?topic=8535.msg167082#msg167082

James

Hi James,

Thanks for the info - I've read that thread before but for an outsider its like looking through the atoms of a tree in order to understand where the forest is

So, if you don't mind, I'd like to ask simple questions here:

* Do I understand correctly that you can only trade NXT AE assets on InstantDEX?
* If there is a NXT AE asset which represents bitcoin, I can use the MGW exchange to convert to actual bitcoins?
* If the above two statements are true, why do I even need to bother with InstantDEX, since I could just trade decentralised on the plain AE, and use MGW to cash out?

Cheers, Paul.

[cloudboy]

What currencies can you trade on this? Cryptocoins? Fiat? How are the orders fulfilled?

Any asset can be traded (also MScoins can be supported). So the InstantDEX is a fully decentralized way of trading fully decentralized NXT assets.

That means whatever assets exist, can be traded, such as multisig deposit backed MGW crypto assets.

InstantDEX <-> (NXT assets) <-> asset issuers

The following has detailed description of how the orders fulfilled with the v1 InstantDEX
https://nxtforum.org/index.php?topic=8535.msg167082#msg167082

James

* Do I understand correctly that you can only trade NXT AE assets on InstantDEX?
* If there is a NXT AE asset which represents bitcoin, I can use the MGW exchange to convert to actual bitcoins?
* If the above two statements are true, why do I even need to bother with InstantDEX, since I could just trade decentralised on the plain AE, and use MGW to cash out?

1. Yes
2. Yes
3. InstantDEX gives you the ability to trade any Nxt Asset <-> any Nxt Asset automatically. Currently you can exchange mgwBTC <->Nxt and mgwBTCD<-> Nxt, but with iDex you can trade mgwBTC<->mgwBTCD, for example. Also, InstantDEX will support advanced tradebots.

[monsterer]

1. Yes
2. Yes
3. InstantDEX gives you the ability to trade any Nxt Asset <-> any Nxt Asset automatically. Currently you can exchange mgwBTC <->Nxt and mgwBTCD<-> Nxt, but with iDex you can trade mgwBTC<->mgwBTCD, for example. Also, InstantDEX will support advanced tradebots.

Ahhh, because you can only list assets priced in NXT on the AE, which makes a market like mgwBTCD/mgwBTC impossible?

[jl777]

1. Yes
2. Yes
3. InstantDEX gives you the ability to trade any Nxt Asset <-> any Nxt Asset automatically. Currently you can exchange mgwBTC <->Nxt and mgwBTCD<-> Nxt, but with iDex you can trade mgwBTC<->mgwBTCD, for example. Also, InstantDEX will support advanced tradebots.

Ahhh, because you can only list assets priced in NXT on the AE, which makes a market like mgwBTCD/mgwBTC impossible?

correct. NXT AE is fantastic, but has 3 issues.

1. it only supports asset/NXT orderbooks
2. it costs 1 NXT to place/cancel bids
3. you have to wait until the next block to know if your trade was matched

InstantDEX solves all this by allowing any asset/asset trade, it matches and locks the trades in seconds and there is no fee to place or cancel bids

additionally I added support for interfacing to central exchanges and it can even trade through to them automatically.

So, if you ask for an orderbook for asset/BTC, it will combinatorically search all possible combinations across N orderbooks in M different exchanges (in addition to direct InstantDEX orderbooks) and create a virtual orderbook that you can execute trades from

Think of InstantDEX as trading middleware. If there is a market, InstantDEX connects to it and creates combined orderbook.

BTCD/BTC will look at all BTCD/NXT, BTCD/BTC, NXT/BTC orderbooks and find the best price. This allows for single click arbitrage possiblities (across exchanges) from the GUI

I think it is fair to say that by using InstantDEX you will get the best liquidity and prices possible, since if there is an exchange with better liquidity/prices, I can just add support for that exchange and automatically all the orderbooks are enhanced with orders from that exchange

James

[MadCow]

1. Yes
2. Yes
3. InstantDEX gives you the ability to trade any Nxt Asset <-> any Nxt Asset automatically. Currently you can exchange mgwBTC <->Nxt and mgwBTCD<-> Nxt, but with iDex you can trade mgwBTC<->mgwBTCD, for example. Also, InstantDEX will support advanced tradebots.

Ahhh, because you can only list assets priced in NXT on the AE, which makes a market like mgwBTCD/mgwBTC impossible?

correct. NXT AE is fantastic, but has 3 issues.

1. it only supports asset/NXT orderbooks
2. it costs 1 NXT to place/cancel bids
3. you have to wait until the next block to know if your trade was matched

InstantDEX solves all this by allowing any asset/asset trade, it matches and locks the trades in seconds and there is no fee to place or cancel bids

additionally I added support for interfacing to central exchanges and it can even trade through to them automatically.

So, if you ask for an orderbook for asset/BTC, it will combinatorically search all possible combinations across N orderbooks in M different exchanges (in addition to direct InstantDEX orderbooks) and create a virtual orderbook that you can execute trades from

Think of InstantDEX as trading middleware. If there is a market, InstantDEX connects to it and creates combined orderbook.

BTCD/BTC will look at all BTCD/NXT, BTCD/BTC, NXT/BTC orderbooks and find the best price. This allows for single click arbitrage possiblities (across exchanges) from the GUI

I think it is fair to say that by using InstantDEX you will get the best liquidity and prices possible, since if there is an exchange with better liquidity/prices, I can just add support for that exchange and automatically all the orderbooks are enhanced with orders from that exchange

James

Mind blowing jl777! So InstantDEX both competes directly with legacy exchanges, and offers them the hope  of integration into a larger decentralised unified whole, much like the Romans and Mongels did to their defeated enemies as their empires expanded. Assimilation is always preferable to annihilation! Will be fascinating to see where the centralised exchanges end up 6 months from now.

[Daedelus]

Thought you guys might enjoy this.

In answer to the OP, Eric Voorhees might   




Source: http://www.reddit.com/r/Bitcoin/comments/34ad0o/purseio_integrates_shapeshift_allowing_digital/cqstm1q

[Daedelus]

Testers required for latests version of Instantdex, click the link below..

I would like to see a new version of AE 
but also a new design wallet Wesley 
Just question where is Wesley?   I think he must be very busy (I send him my good karma  )

www.instantdex.net is the current version in testing

[Nxtblg]

Testers required for latests version of Instantdex, click the link below..

Any idea of what cryptos will be integrated into InstantDex?

[PondSea]

Testers required for latests version of Instantdex, click the link below..

Any idea of what cryptos will be integrated into InstantDex?

It will be able to interface with exchanges directly by using their api, so to answer your question, any cryptos in any of the major exchanges, plus the nxt asset exchange/MS.

[Nxtblg]

Testers required for latests version of Instantdex, click the link below..

Any idea of what cryptos will be integrated into InstantDex?

It will be able to interface with exchanges directly by using their api, so to answer your question, any cryptos in any of the major exchanges, plus the nxt asset exchange/MS.

Okay, thanks.

[bitcoinrocks]

Testers required for latests version of Instantdex, click the link below..

Any idea of what cryptos will be integrated into InstantDex?

It will be able to interface with exchanges directly by using their api, so to answer your question, any cryptos in any of the major exchanges, plus the nxt asset exchange/MS.

Can anyone confirm this?  That wasn't my understanding at all.

[PondSea]

Join slack and get it from the horses mouth

[Daedelus]

See InstantDEX in action >>> https://www.youtube.com/watch?v=MKkKM7hMWOY

Testing InstantDEX Beta!!!: https://www.youtube.com/watch?v=MKkKM7hMWOY