You should consider why Bittrex changes its specifications.
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This email is to communicate policy changes for placing orders on Bittrex. As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
Removing stale orders: Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
Raising the minimum trade size: Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi. We will also require a minimum trade quantity on a per market basis.
Creating minimum tick sizes: Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market. The target is to have minimum trade sizes that are near 0.1% of the current price. The current minimum tick size is 1 Satoshi. For example, Ethereum trades at 0.0577 Bitcoin. Bids and asks can only be placed in 0.0001 increments. So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
A general statement about market manipulation tactics: Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.
For more details around these policy changes, see this article.
https://support.bittrex.com/hc/en-us/articles/115003004171 Thank you,
Bill Shihara
Chief Executive Officer
Thanks and yes, don't worry we all received the Bittrex update and are taking into account.
It reminded me to implement another Stockmarket feature into the ordering options when placing buy/sell on Blockbid, and that is length of order - ie on most Aust Stockmarket exchanges you can either choose "good for day" or "good until cancelled" - as in good for day means that if your order or part thereof hasn't been filled by end of trade that day, it is automatically cancelled.
We will be implementing these two options, plus a third option, "good for 30 days" or 28 days, yet to be decided.
This will allow us to bypass the mass manual cancellation of majority of stale orders that Bittrex is currently spending time and money on. We may even do away with "good til cancelled" so that all orders not completed within 28/30 days are automatically cancelled by our systems.
Now isn't that a better option than Bittrex has evidently decided to use, of "once in a blue moon we will manually cancel stale orders"
And Bittrex is a top tier Altcoin exchange?? Took us 45 seconds to come up with a better solution.