Topic: [ANN] BitHub.com – swap digital assets anonymously (Read 261 times)

Howdy Andy,

Congrats on your new bithub site. I'm responding to your thread because I'd like to talk to you about bookkeeping.

Yawn... exactly.  Nobody wants to do bookkeeping but if you're doing anything with money, you have to keep track of where it all is, lest some or all of it quickly slithers away to parts unknown.  According to my understanding of bithub you're going to take funds from an end-user, execute a trade on one of several other exchanges, and send the results back to the end-user.  Adjusted for various fees along the way.  From the bookkeeping POV, this conceptually simple thing to do has a remarkable amount of tedious detail buried within.  Oh... yeah... you're also doing multi-currency bookkeeping as well, so that contributes gas to the fire.

But fear not... All is not lost.  I'd like to introduce you to an open-source project called bookwerx.  Bookwerx implements a RESTful API that does multi-currency bookkeeping, using the time-honored double-entry system, slightly modified to accommodate multiple currencies. Bookwerx can record the relevant numbers in your transactions to arbitrary precision w/o round-off issues. With bookwerx your software can create the required transactions, extract transaction histories, and create aggregate summaries such as balance sheets and profit and loss statements.

Bookwerx was inspired by my agonizing efforts to reconcile a myriad of disparate records of crypto transactions.  Said records are frequently scattered randomly all over a website and permeated with round-off errors and blind-spots.  Although none of this is rocket science, dealing with bookkeeping is an enormous distraction from the main goal of implementing your product.  Don't let this nuisance bite you on your ass.

You may also see an online example front-end at http://23.253.160.60.  This example includes some elementary tutorial information as well as an http log of the traffic between the UI and the server.

The source-code for the server can be found at https://github.com/bostontrader/bookwerx-core-rust the same for the UI is at https://github.com/bostontrader/bookwerx-ui-elm

It appears that there's no expiration time for transactions...
- You might want to add a 5/10 minutes window limit for depositing ^{["to an extent" helps with accurately estimating the outcome]}.

The main issue isn't your algorithm but those exchanges usually have certain limits ^{[they tend to block unusually large transactions and ask for further proof in regards to its origin and when that happens, it usually takes them more than a month to process it]}...

Thank you for checking the project out, @hugeblack.


So this one is weird. I've tested it multiple times and couldn't reproduce the issue. Here is a quick screenshot. Was it something else?

https://i.ibb.co/bzRWL1g/Screen-Shot-2019-12-05-at-5-58-25-PM.png


This feature is disabled right now. We'll turn it on as soon as we have more pairs.


Correct. We are working on it.


We are working with the biggest exchanges and our algorithms can easily handle large amounts. We'll try to explain it better.

A good start but you need a lot of effort:
 
 - Minimum amount: I wrote 0.5 Bitcoin however gives me an error.
 - add button: it does not work.
 - Add new pairs: I can't add any new pairs.
 - No Maximums: what do you mean by this sentence? Do you have enough liquidity?
 - Fees: There are many platforms that give fewer fees than your platform.
 - Most transactions occur within 15 minutes or less: I think you need to review the phrase, it may not be correct.

Oh, that's a great catch. Essentially, in this case the order will get stuck, so we'll manually have to release it. I appreciate the time you took into testing it out. We are going to fix it ASAP.

There is no way to check if the BTC address entered by the user is correct or not.
I entered a random string and it forwarded to the next dialog box prompting to enter my email and displayed LTC address.

What happens in this case if I send LTC to that address but the forwarding BTC address is not correct?

It is indeed a swap platform, or as they call it an "instant" exchange.

I apologize that the submission went to a wrong category. I don't think regular users have permissions to move topics around, can't find such functionality, I'll repost it to Project Development later this week.

Thank you for a suggestion to create an ANN thread, I'll check how other people do it and follow accordingly.


Appreciate it. We spent a lot of time polishing it out. There are much more features we are going to roll out, but for now we're just making sure things work as expected.

ETH (and ERC-20 tokens) is in development. We'll release as soon as possible. Ethereum blockchain is pretty big in size, which is why we didn't want to bother with it until the basic LTC/BTC swap is live.


@coupable: honestly, this piece is something we forgot to hide. Account creation, as well as credit card processing, is currently disabled, as we wanted to release the first version of the platform as soon as possible. We'll turn it on as soon as the existing functionality is well tested.

As for the team. The entire project was built as a side-project by people who have full-time jobs. Since BitHub is only 2 days old, we're not ready to expose our identities, yet.

I suggest creating an official ANN thread here stating all every important detail. As you know, people will not just use a new service.

I just did a quick visit to the site and I found it smooth.

The beta mode only allows LTC to BTC and vice versa pair. Can you include ETH as well?

Hi Andy , please add more information about the project and move it to the right board "project developpement". No one here would be interested in a newbie account posting a link.

I don't advice anybody to test your beta with real money.

This should be a swap platform , not like an exchange where we can choose from different orders.
You should explain how would run the swap in milliseconds.
Am interested to know about this :

Why i can't find anything about the team or the company behind ?

Hey guys,

We built and launched an exchange – https://www.bithub.com
It's in beta mode right now, but we appreciate any feedback. Give it a try and let us know what you think.

Cheers,
Andy