Topic: [ANN] BTC.sx - Leveraged trading made easy (Read 9017 times)

Quote from: capoeira on August 19, 2013, 09:35:36 PM

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

That's as expected. Withdrawals are processed daily after account reconciliations have been performed.

All client funds are held offline. Thanks for your patience.

so I deposited on your page to gain with the rally, only to realize that it is not possible to trade and now my BTCs are frozen? Man, that's not correct!!!!!!!!!!!!!!!
At least write on the page in BIG LETTERS when "your market" is closed Angry

I'm loosing oportunitys to gain with my BTC frozen on your page.....worse, If BTC crashed now I could not sell nor hedge

capoeira, client funds are never frozen. As stated, all client funds are held offline for security. Withdrawals are processed once per day, only after daily account reconciliations have been performed. I will make a note to specify this more clearly for the benefit of our customers.

I do not intend to run hot wallets anytime soon as I highly value client security. For an immediate payment service try one of the many hot wallet services out there.

On your note, I would encourage users to only use the btc.sx trading platform with bitcoin they can:
a. afford to lose (this is leveraged trading after all)
b. do not need immediate access to

All withdrawals are processed within 24 hours.

include:

c. after they check if your service is working

-----

I think you understood what my problem was ;-)
I wouldn 't have needed "immediate access" if trading were possible, but it wasn't

I'll check some time later if your service improoved

Thanks

Pretty funny stuff

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: Seal on August 20, 2013, 07:44:01 AM

Quote from: capoeira on August 19, 2013, 09:51:23 PM

Quote from: capoeira on August 19, 2013, 09:35:36 PM

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

That's as expected. Withdrawals are processed daily after account reconciliations have been performed.

All client funds are held offline. Thanks for your patience.

so I deposited on your page to gain with the rally, only to realize that it is not possible to trade and now my BTCs are frozen? Man, that's not correct!!!!!!!!!!!!!!!
At least write on the page in BIG LETTERS when "your market" is closed Angry

I'm loosing oportunitys to gain with my BTC frozen on your page.....worse, If BTC crashed now I could not sell nor hedge

capoeira, client funds are never frozen. As stated, all client funds are held offline for security. Withdrawals are processed once per day, only after daily account reconciliations have been performed. I will make a note to specify this more clearly for the benefit of our customers.

I do not intend to run hot wallets anytime soon as I highly value client security. For an immediate payment service try one of the many hot wallet services out there.

On your note, I would encourage users to only use the btc.sx trading platform with bitcoin they can:
a. afford to lose (this is leveraged trading after all)
b. do not need immediate access to

All withdrawals are processed within 24 hours.

include:

c. after they check if your service is working

-----

I think you understood what my problem was ;-)
I wouldn 't have needed "immediate access" if trading were possible, but it wasn't

I'll check some time later if your service improoved

Thanks

Seal

donator

Activity: 848

Merit: 1078

Quote from: capoeira on August 19, 2013, 09:51:23 PM

Quote from: capoeira on August 19, 2013, 09:35:36 PM

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

That's as expected. Withdrawals are processed daily after account reconciliations have been performed.

All client funds are held offline. Thanks for your patience.

so I deposited on your page to gain with the rally, only to realize that it is not possible to trade and now my BTCs are frozen? Man, that's not correct!!!!!!!!!!!!!!!
At least write on the page in BIG LETTERS when "your market" is closed Angry

I'm loosing oportunitys to gain with my BTC frozen on your page.....worse, If BTC crashed now I could not sell nor hedge

capoeira, client funds are never frozen. As stated, all client funds are held offline for security. Withdrawals are processed once per day, only after daily account reconciliations have been performed. I will make a note to specify this more clearly for the benefit of our customers.

I do not intend to run hot wallets anytime soon as I highly value client security. For an immediate payment service try one of the many hot wallet services out there.

On your note, I would encourage users to only use the btc.sx trading platform with bitcoin they can:
a. afford to lose (this is leveraged trading after all)
b. do not need immediate access to

All withdrawals are processed within 24 hours.

capoeira

legendary

Activity: 2413

Merit: 1003

Withdrawals are processed daily after account reconciliations have been performed.

What time this happens? I need my BTCs

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: capoeira on August 19, 2013, 09:35:36 PM

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

That's as expected. Withdrawals are processed daily after account reconciliations have been performed.

All client funds are held offline. Thanks for your patience.

so I deposited on your page to gain with the rally, only to realize that it is not possible to trade and now my BTCs are frozen? Man, that's not correct!!!!!!!!!!!!!!!
At least write on the page in BIG LETTERS when "your market" is closed Angry

I'm loosing oportunitys to gain with my BTC frozen on your page.....worse, If BTC crashed now I could not sell nor hedge

Seal

donator

Activity: 848

Merit: 1078

Quote from: capoeira on August 19, 2013, 09:35:36 PM

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

That's as expected. Withdrawals are processed daily after account reconciliations have been performed.

All client funds are held offline. Thanks for your patience.

capoeira

legendary

Activity: 2413

Merit: 1003

In CHromium they are not greyed out.

one more: I withdrawed my BTCs but page doesn't even register adress/blockchain

Seal

donator

Activity: 848

Merit: 1078

Quote from: capoeira on August 19, 2013, 09:05:14 PM

Quote from: capoeira on August 19, 2013, 07:25:48 PM

Quote from: Seal on August 19, 2013, 07:22:32 PM

Quote from: capoeira on August 19, 2013, 07:21:22 PM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

I still can't open position

What browser are you using?

chromium

I installed firefox and the buy botton isn't even clicable

Aah if the buy or sell buttons are greyed out then it means that our trading reserve has been maxed out. I'm working on getting this increased. Visual feedback to non-trade events is something that I'm working on improving. Watch this space.

Planned features:
- immediate trade notifications on placed positions
- improved visual feedback during maxed trading reserve events
- notification of failed position placements
- latency status updated in the trading screen
- show leveraged order amount

I'll be checking comparability with chromium later as I have not tested the site with that browser.

In these instances I can only apologise for the problems you've been encountering lately capoeira.

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: capoeira on August 19, 2013, 07:25:48 PM

Quote from: Seal on August 19, 2013, 07:22:32 PM

Quote from: capoeira on August 19, 2013, 07:21:22 PM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

I still can't open position

What browser are you using?

chromium

I installed firefox and the buy botton isn't even clicable

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: Seal on August 19, 2013, 07:22:32 PM

Quote from: capoeira on August 19, 2013, 07:21:22 PM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

I still can't open position

What browser are you using?

chromium

Seal

donator

Activity: 848

Merit: 1078

Quote from: capoeira on August 19, 2013, 07:21:22 PM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

I still can't open position

What browser are you using?

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

I still can't open position

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: Seal on August 19, 2013, 07:31:43 AM

Quote from: kakobrekla on August 19, 2013, 07:12:46 AM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

What a surprise.

For the wider audience, I'd like to respond to each 'constructive criticism' kindly left by kakobrekla by a post regarding his own brokerage.

https://bitcointalksearch.org/topic/m.1313315

Can I get an account so you can show me how its really done?

Of course, follow instructions on site, like everyone else.

Seal

donator

Activity: 848

Merit: 1078

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

Trading volume has been incredibly high recently with our reserve maxing out a number of times this week. Apologies for the failed execution, I can see the position logs of each trade and will investigate each one with a fine toothed comb to see what happened.

Thanks for your patience.

Seal

donator

Activity: 848

Merit: 1078

Quote from: kakobrekla on August 19, 2013, 07:12:46 AM

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

What a surprise.

For the wider audience, I'd like to respond to each 'constructive criticism' kindly left by kakobrekla by a post regarding his own brokerage.

https://bitcointalksearch.org/topic/m.1313315

Can I get an account so you can show me how its really done?

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: capoeira on August 19, 2013, 04:29:09 AM

I tryed your page today with 0,1 BTC....orders are not executing

What a surprise.

capoeira

legendary

Activity: 2413

Merit: 1003

I tryed your page today with 0,1 BTC....orders are not executing

Seal

donator

Activity: 848

Merit: 1078

Quote from: Hfleer on August 03, 2013, 08:00:03 AM

Quote from: siulynot on August 02, 2013, 03:17:14 PM

I just opened an account and i dont feel comfortable without stops and limits. Margin trading NEEDS these options when trading because there is no way someone can sleep happy without stops.

Also a public trades history would be nice, and of course an orderbook

Nothing wrong with stops and limits. These are mandatory though, maybe they can improve it and let the users set their own.

Hey there siulynot. Thanks for the feedback. A few users have requested this feature now and it is on our todo list so watch this space.

The trading volume has been steadily growing and is keeping us very busy lately. I'm working on growing the physical aspect of the business and will be committing to the full time development of it soon with other aspects such as an office space, full incorporation and staff coming soon.

Marketing the site and communicating what we do in a clear way has been challenging for me, I appreciate it could be a lot better. Its work in progress so I thank everybody for their patience and for the kind words of encouragement the users have left.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

+1 for stops and limit orders on the position field

Hfleer

sr. member

Activity: 448

Merit: 250

Changing avatars is currently not possible.

Quote from: siulynot on August 02, 2013, 03:17:14 PM

I just opened an account and i dont feel comfortable without stops and limits. Margin trading NEEDS these options when trading because there is no way someone can sleep happy without stops.

Also a public trades history would be nice, and of course an orderbook

Nothing wrong with stops and limits. These are mandatory though, maybe they can improve it and let the users set their own.

siulynot

legendary

Activity: 1274

Merit: 1000

I just opened an account and i dont feel comfortable without stops and limits. Margin trading NEEDS these options when trading because there is no way someone can sleep happy without stops.

Also a public trades history would be nice, and of course an orderbook

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote

A number of users have emailed the support address asking about what happens to the bitcoins they lose when trading on BTC.sx. Some users have the assumption that we take their bitcoins (as profit). This is not the case, we do not benefit from our users placing losing positions - they are less likely to place trades in the future.

a public log of all trades delayed with refresh time 5 min will be nice

Seal

donator

Activity: 848

Merit: 1078

Also the actual trade size can be calculated using the following:

Size (BTC/pt) * Price (USD) * 100

or

Size (BTC/pt) * Price (US cents)

In the US, people call it leveraged trading, in Europe the term geared trading is more often used. The spreadsheet below shows the effective 'gearing' which is price dependent.

Seal

donator

Activity: 848

Merit: 1078

Quote from: wonkytonky on July 16, 2013, 03:17:14 AM

Quote from: wonkytonky on July 13, 2013, 02:50:37 PM

ok.. i'm trying to get my head around this pip thing..

i took your long example from the faq.
correct me where i'm wrong and please help me where i dont understand it.

Bet size: 0.002 BTC/pt

so i say.. here: for every pt (wich is 1 $cent so .. 0.01$) that goes up.. i want btc.sx to pay me 0.002btc
(deposit of 2 BTC required)

this is:Deposit = Size * Required Stop

The required stop is currently 1250 points. Th

in this case 0.002 btc * 1250 points? seems not to be 2btc but it's my best guess..

Buy Price: US$120 = 12000 points
this is 120$*100 because points are actuall $cents.

Close price on liquidation: US$128 = 12800 points
this is 128$*100 because points are actuall $cents.

Profit = (12000 - ((12000^2) / 12800)) * 0.002
i dont understand this calculation please fully explain.

Profit = 1.5 BTC

other questions..
can you show us how much btc or usd is borrowd if we place an 0.002btc/pt bet? i'm not fully understanding how leverage works here.. x100 ?
so if i place bet 0.002btc/pt.. you automatically borrow 100 times this amount in usd if i want to go long? and on this the daily fund is calculated? how?

Execution Spread: if you need to borrow btc .. where do you get it, gox?? since it apparently could be problematic when there is " high volatility or low liquidity" i want to know where to look to see if indeed the liquidity is low or the volatility is too high .

what is the current maximum betsize?
where do you get your current prices from?

and please make "stop order" one of your biggest priorities possible

a realy great example is the one from bitfinex.. you can move it up and down whenever you want.. with bitcoins volatility.. a few hours away from screen could be problematic...

regards

bump..

please answer my questions

i'll add another question.

why is the spread so high?

Hi wonkytonky, apologies for the delayed response. I'll try my best to clear things up:

In the example above the required stop was 1000 points. Apologies for the confusion I'll clarify that in the FAQ.
The required stop is changes and depends on market volatility and liquidity. The smaller it is, the cheaper it is to place trades. On the other hand, I have to balance the in-house trading risk that comes with placing the leveraged position out to market. If the position gaps out of your favour beyond the deposit amount held, you will not be charged a loss greater then the deposit amount (posted collateral) - btc.sx takes on this risk
In market making, amounts are measured in points and pips and ticks. BTC.sx uses points, which in this case will denominate the price in US cents
Execution spread refers to the difference in the display price and the actual traded price (after the order has been executed).
Why is the spread so high? It isn't. The prices will incorporate the broker trading fee (as orders are placed out to market) and a conservative execution spread. The spread is added so that the actual execution price will often beat the display price (under normal market liquidity - at times of high volatility, it will match and sometimes be worse then display price).

A number of users have emailed the support address asking about what happens to the bitcoins they lose when trading on BTC.sx. Some users have the assumption that we take their bitcoins (as profit). This is not the case, we do not benefit from our users placing losing positions - they are less likely to place trades in the future.

If a position placed goes against your favour, the bitcoins have to be sold to cover the amount that we have lost when the leveraged trade is liquidated. This is handled automatically by the trading engine. It will not deduct more than the amount required to cover the loss in our trading reserve.

So where does the bitcoin go? Back out to market.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: wonkytonky on July 16, 2013, 03:17:14 AM

why is the spread so high?

the price u get is @ 500 BTC orderbook on gox

wonkytonky

sr. member

Activity: 411

Merit: 250

Quote from: wonkytonky on July 13, 2013, 02:50:37 PM

ok.. i'm trying to get my head around this pip thing..

i took your long example from the faq.
correct me where i'm wrong and please help me where i dont understand it.

Bet size: 0.002 BTC/pt

so i say.. here: for every pt (wich is 1 $cent so .. 0.01$) that goes up.. i want btc.sx to pay me 0.002btc
(deposit of 2 BTC required)

this is:Deposit = Size * Required Stop

The required stop is currently 1250 points. Th

in this case 0.002 btc * 1250 points? seems not to be 2btc but it's my best guess..

Buy Price: US$120 = 12000 points
this is 120$*100 because points are actuall $cents.

Close price on liquidation: US$128 = 12800 points
this is 128$*100 because points are actuall $cents.

Profit = (12000 - ((12000^2) / 12800)) * 0.002
i dont understand this calculation please fully explain.

Profit = 1.5 BTC

other questions..
can you show us how much btc or usd is borrowd if we place an 0.002btc/pt bet? i'm not fully understanding how leverage works here.. x100 ?
so if i place bet 0.002btc/pt.. you automatically borrow 100 times this amount in usd if i want to go long? and on this the daily fund is calculated? how?

Execution Spread: if you need to borrow btc .. where do you get it, gox?? since it apparently could be problematic when there is " high volatility or low liquidity" i want to know where to look to see if indeed the liquidity is low or the volatility is too high .

what is the current maximum betsize?
where do you get your current prices from?

and please make "stop order" one of your biggest priorities possible

a realy great example is the one from bitfinex.. you can move it up and down whenever you want.. with bitcoins volatility.. a few hours away from screen could be problematic...

regards

bump..

please answer my questions

i'll add another question.

why is the spread so high?

Hfleer

sr. member

Activity: 448

Merit: 250

Changing avatars is currently not possible.

I've added this site to my list as a Forex style leveraged trading platform:
https://bitcointalksearch.org/topic/list-of-btc-derivativemarginleveraged-trading-services-254574

wonkytonky

sr. member

Activity: 411

Merit: 250

ok.. i'm trying to get my head around this pip thing..

i took your long example from the faq.
correct me where i'm wrong and please help me where i dont understand it.

Bet size: 0.002 BTC/pt

so i say.. here: for every pt (wich is 1 $cent so .. 0.01$) that goes up.. i want btc.sx to pay me 0.002btc
(deposit of 2 BTC required)

this is:Deposit = Size * Required Stop

The required stop is currently 1250 points. Th

in this case 0.002 btc * 1250 points? seems not to be 2btc but it's my best guess..

Buy Price: US$120 = 12000 points
this is 120$*100 because points are actuall $cents.

Close price on liquidation: US$128 = 12800 points
this is 128$*100 because points are actuall $cents.

Profit = (12000 - ((12000^2) / 12800)) * 0.002
i dont understand this calculation please fully explain.

Profit = 1.5 BTC

other questions..
can you show us how much btc or usd is borrowd if we place an 0.002btc/pt bet? i'm not fully understanding how leverage works here.. x100 ?
so if i place bet 0.002btc/pt.. you automatically borrow 100 times this amount in usd if i want to go long? and on this the daily fund is calculated? how?

Execution Spread: if you need to borrow btc .. where do you get it, gox?? since it apparently could be problematic when there is " high volatility or low liquidity" i want to know where to look to see if indeed the liquidity is low or the volatility is too high .

what is the current maximum betsize?
where do you get your current prices from?

and please make "stop order" one of your biggest priorities possible

a realy great example is the one from bitfinex.. you can move it up and down whenever you want.. with bitcoins volatility.. a few hours away from screen could be problematic...

regards

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: Seal on July 12, 2013, 07:31:40 AM

Advanced trading features are on my list of features to add however stop and limit orders are a lower priority for now.

so one should stay on the pc 24/7 in order to take profits when it reach the desired price ?

Seal

donator

Activity: 848

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Quote from: myself on July 09, 2013, 03:56:28 AM

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

can the users lend and take some risk ?

also are there any plans for limit orders ?
are there any plans for stop orders ?

Hi there myself. Currently I will not accept external lenders.

Advanced trading features are on my list of features to add however stop and limit orders are a lower priority for now.

myself

legendary

Activity: 938

Merit: 1000

chaos is fun...…damental :)

Quote from: capoeira on June 30, 2013, 09:30:02 AM

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

can the users lend and take some risk ?

also are there any plans for limit orders ?
are there any plans for stop orders ?

Seal

donator

Activity: 848

Merit: 1078

Quote from: Seal on June 30, 2013, 02:45:56 AM

It is designed to be intuitive for those with a trading background.

especially that imaginary currency pair BTC/PT.

can you at least respond this question: 1% up in BTC/USD means 1% up in BTC/PT? Huh

?

Prices in most forex trading platforms are displayed in Points or Pips. This is the price in US cents.

BTC/PT is the currency pair you are trading on.

0.01 BTC/PT is not a percentage, it means that you are placing a trade so that each 1 cent movement will produce a gain or a loss of 0.01 BTC. It might be more intuitive if read as 0.01 bitcoins per cent movement.

If the bitcoin price goes up by $1, this is a 100 pt movement. A buy position of 0.01BTC/PT size would return ~1 btc. A buy position of 0.02BTC/PT would return ~2 btc etc...

capoeira

legendary

Activity: 2413

Merit: 1003

Quote from: Seal on June 30, 2013, 02:45:56 AM

It is designed to be intuitive for those with a trading background.

Ihave traded on Bitfinex and 1Broker and I find it very unintuitive.
especially that imaginary currency pair BTC/PT.

can you at least respond this question: 1% up in BTC/USD means 1% up in BTC/PT? Huh

?

Seal

donator

Activity: 848

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Quote from: ?? on ??

BTC.sx like so many other similar services is not friendly to anyone but experinced traders. Is there any good reason for that? Put differently, you
are really ready to severly limit your possible income because of "elite" look and feel? As far as I see it, there are multiple similar "elite" websites
fighting over dozens of traders while tenths of thousands are playing SDICE or hoard BTC simply because they don't feel like gambling or messing
with inexperienced-trader-unfriendly services like BTC.sx

Pick 10 unknown people on random, let them read https://btc.sx/about.php?p=faq and you will hopefully realise the issues there. In case you feel
like such action is not required and don't feel like adjusting service to serve people, please remove the following bullshits from starting thread:

"Why?
One of our primary objectives is to see bitcoin as an economy grow. A proven catalyst to economic growth is liquidity. Allowing people the freedom
to trade as they like increases liquidity."

Feedback taken on board Bitcoin Megastore.

You are totally right that trading isn't always easy to understand. It is designed to be intuitive for those with a trading background. For those without, I would encourage you to read up about Margin Trading and CFD's before trying to understand what we do. Having a solid understanding of the mathematics behind each trade will help you make better informed trading decisions.

And to reiterate a point which you made to others. If all you want to do is bet, Satoshi Dice is as good a place as any, along with the other betting sites out there.

I'll look into getting the FAQ rewritten to be a little friendlier.

capoeira

legendary

Activity: 2413

Merit: 1003

so, what is this actually? A CFD?

can anybody tell my what the actual spread is in "$" ? This page is very unintuitive

MPOE-PR

hero member

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Merit: 522

Quote from: Seal on June 09, 2013, 08:17:53 AM

Update:

Options to trade bitcoin, in the $1bn market are opening up fast. Here's an independent comparison of what's on offer: Bitcoin Derivatives, Liquidity and Counterparty Risk

Good job to all of our traders as over 70% of open positions are currently posting profits.

One of our traders opened the following position two days ago:

0.0002 btc/pt short @ $116.92
Deposit size 0.25 btc
Daily funding cost 0.018 btc

Currently sitting on an unrealized PnL of 0.55 btc

At over 200% profit... you're on par to have placed one of our most profitable positions to date. You know who you are.

Todays sentiment amongst our traders is heavily biased towards the short side.

Trade safe.

That piece on psychologicalscammer.com is uniquely ignorant. Bitcoin derivatives is MPEx, no more, no less. 482,472 BTC traded in March. No idea where you've found five lolsites to write 5000 words about, but this is not how it's done.

Actually, if you people would be less cheeky and less stupid you wouldn't find yourselves spending your time pumping .5 BTC "profits" and ridiculous "70% success rates" while dreaming of the 1bn market other people actually have.

Seal

donator

Activity: 848

Merit: 1078

Update:

Options to trade bitcoin, in the $1bn market are opening up fast. Here's an independent comparison of what's on offer: Bitcoin Derivatives, Liquidity and Counterparty Risk

Good job to all of our traders as over 70% of open positions are currently posting profits.

One of our traders opened the following position two days ago:

0.0002 btc/pt short @ $116.92
Deposit size 0.25 btc
Daily funding cost 0.018 btc

Currently sitting on an unrealized PnL of 0.55 btc

At over 200% profit... you're on par to have placed one of our most profitable positions to date. You know who you are.

Todays sentiment amongst our traders is heavily biased towards the short side.

Trade safe.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: Seal on June 05, 2013, 09:07:24 AM

Quote from: kakobrekla on June 05, 2013, 08:22:41 AM

Quote from: joesmoe2012 on June 05, 2013, 08:19:27 AM

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

... karobrekla, your dislike towards btc.sx and the work I'm doing is well voiced now. I appreciate that you do not like my platform and am not asking you to use it or waste more of your time criticising it. If you would like to carry on, then feel free, but please keep it constructive for the benefit of the wider community. If it annoys you that much, then focus on driving the success of what I'm assuming is your own (competing) platform bit4x.com.

I will encourage potential users on this forum who have read your posts and criticisms of btc.sx to choose for themselves whether or not to trust in my platform or use yours.

Hundreds of users already have.

Don't flatter yourself, btc.sx is not even close to bit4x. Get your facts straight.

Seal

donator

Activity: 848

Merit: 1078

Quote from: joesmoe2012 on June 05, 2013, 08:19:27 AM

"password is too long must use less than 30 char"

Why?

I use 32 by default. Why not make the max like 200 just incase?

Changed.

Quote from: kakobrekla on June 05, 2013, 08:22:41 AM

Quote from: joesmoe2012 on June 05, 2013, 08:19:27 AM

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

... karobrekla, your dislike towards btc.sx and the work I'm doing is well voiced now. I appreciate that you do not like my platform and am not asking you to use it or waste more of your time criticising it. If you would like to carry on, then feel free, but please keep it constructive for the benefit of the wider community. If it annoys you that much, then focus on driving the success of what I'm assuming is your own (competing) platform bit4x.com.

I will encourage potential users on this forum who have read your posts and criticisms of btc.sx to choose for themselves whether or not to trust in my platform or use yours.

Hundreds of users already have.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: joesmoe2012 on June 05, 2013, 08:19:27 AM

"password is too long must use less than 30 char"

Omg. Srsly, you need someone who knows what its doing (your coders don't). Btw, I found more issues but I don't have the time to go through them (already wasted enough time with bitstamp scam). Whoever is coding that is complete idiot and a noob and should not be touching financial apps with a 10 foot pole.

joesmoe2012

hero member

Activity: 882

Merit: 501

Ching-Chang;Ding-Dong

"password is too long must use less than 30 char"

Why?

I use 32 by default. Why not make the max like 200 just incase?

Seal

donator

Activity: 848

Merit: 1078

Thank you for all of the interest in private beta. Our demand has been unprecedented with over US$100,000 of orders placed weekly within our first few weeks of launch. We are now open to public signups.

Congrats to the traders who placed orders clocking up to 180% roi on individual positions. You know who you are. Quite a feat in the last few weeks with little trending and a lot of sideways movement.

For those on twitter, track our progress on @BTCsx

Sukrim

legendary

Activity: 2618

Merit: 1007

The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

monsterer

legendary

Activity: 1008

Merit: 1007

Quote from: monsterer on May 30, 2013, 06:03:05 AM

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

Ahhh, understood

Seal

donator

Activity: 848

Merit: 1078

Quote from: Seal on May 29, 2013, 07:14:49 PM

Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.

Thanks

One last question: what is to stop me using maximum leverage and then just buy and hold for 1 year?

Quote from: 001sonkit on May 30, 2013, 07:33:51 AM

Daily Funding Cost

Correct. The capital provided for leveraging the trade is subject to a daily funding cost. I need to update the FAQ with details about how this is calculated, its currently between 0.2 - 1% a day.

001sonkit

hero member

Activity: 784

Merit: 1000

Casper - A failed entrepenuer who looks like Zhou

Daily Funding Cost

monsterer

legendary

Activity: 1008

Merit: 1007

Quote from: Seal on May 29, 2013, 07:14:49 PM

Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.

Thanks

One last question: what is to stop me using maximum leverage and then just buy and hold for 1 year?

Seal

donator

Activity: 848

Merit: 1078

Quote from: bitcoinbear on May 29, 2013, 01:48:13 PM

Quote from: GraphicImpulse on May 24, 2013, 08:13:41 AM

Quote from: MPOE-PR on April 28, 2013, 12:50:54 PM

Quote from: monsterer on May 29, 2013, 01:25:36 PM

Who's behind it?
Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.

Surely. And Justin Timberlake.

Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg.

LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore).

LOL. Most of assets on BTCT and Bitfunder worth investing in are just pass-throughs to assets on MPEx, which apparently "barely anyone uses anymore".

I respect anyone with the guts to go out there and set up a bitcoin business. The bitcoin economy needs it, and after all, we all want to see it succeed.

I'm not interested in starting flame wars with anyone, even if you are a competitor. I'd appreciate it if feedback was at least a little constructive.

Seal

donator

Activity: 848

Merit: 1078

Where are you getting your price-feed from?

Market orders are placed on MtGox, our prices are based on current bid/ask prices and are adjusted for estimated order fill price. For smaller orders, we tend to see our orders execute better then the displayed priced. For larger orders, it is close to display price, sometimes worse. This depends on market liquidity.

bitcoinbear

hero member

Activity: 518

Merit: 500

Quote from: GraphicImpulse on May 24, 2013, 08:13:41 AM

Quote from: MPOE-PR on April 28, 2013, 12:50:54 PM

Quote from: kakobrekla on May 24, 2013, 08:22:00 AM

Who's behind it?
Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.

Surely. And Justin Timberlake.

Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg.

LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore).

LOL. Most of assets on BTCT and Bitfunder worth investing in are just pass-throughs to assets on MPEx, which apparently "barely anyone uses anymore".

monsterer

legendary

Activity: 1008

Merit: 1007

Where are you getting your price-feed from?

GraphicImpulse

member

Activity: 66

Merit: 10

There's no way to deposit.

Under deposit is a non-working image. Under that is withdraw.

Seal

donator

Activity: 848

Merit: 1078

Quote from: Seal on April 30, 2013, 05:16:04 AM

P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.

Still waiting... some ppl follow their obligations and responsibilities easier than others. (its not even about the money if you dont get it)

Apologies for the delay, the site's growth has been keeping me busy. 0.1btc has been sent and is rightly yours kakobrekla. I've been spending the last few weeks getting some valuable advice from some accelerator/seed funds based out in California and journalists from all over. All I can say is watch this space.

In the first two weeks of private beta our users placed $250,000 of trades. The growth has been incredibly encouraging. We are rapidly approaching our next milestone of $1/2 mill in trades.

Keep your suggestions coming.

In the mean time, I'll be working on some new features and adding to some new financial products which I am really excited about.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Quote from: Seal on April 30, 2013, 05:16:04 AM

P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.

Still waiting... some ppl follow their obligations and responsibilities easier than others. (its not even about the money if you dont get it)

GraphicImpulse

member

Activity: 66

Merit: 10

Quote from: MPOE-PR on April 28, 2013, 12:50:54 PM

Quote from: Seal on April 30, 2013, 10:37:31 AM

Who's behind it?
Our team consists of seasoned traders with experience in some of the worlds most successful banks, investment banks and accounting firms.

Surely. And Justin Timberlake.

Why not be honest and say "Hi, I'm yet another kid around college age with some basic understanding of php and mysql and I've figured I'd cut my teeth on really dangerous stuff because I'm retarded like that" so we could just tell you to go code an MMORPG instead? What you're doing is a little like going to the doctor with nausea and vertigo but trying to pretend you're there for a broken leg.

LMAO You whine too much MP. Who gives a shit? Let them do their thing while you do your (shitty) thing (that barely anyone uses anymore).

alan2here

hero member

Activity: 1778

Merit: 504

WorkAsPro

I'm on the Beta and would like to invest some BTC when the bugs are ironed out, this should include the server side ones too, could you expand your team coder wise?

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Not at all normal. Your account has been fixed.

How was it fixed?

Now I see the following:

Code:

Updated: 2013-04-30 21:47:24          Timezone: Europe/London
Account: kakobrekla
Account Balance: 0.02320829 BTC

BTC.sx Account History

Trade  Entry Type                  Amount       Date/Time
   1   TradeShort - Deposit        0.10000000   2013-04-30 16:20:01
   1   Trade - PnL                 0.02320829   2013-04-30 16:20:01
   1   TradeShort - Deposit       -0.10000000   2013-04-30 09:06:11
       Withdrawal                 -0.30000000   2013-04-29 19:55:33
       Deposit                     0.15000000   2013-04-29 17:42:40
       Deposit                     0.15000000   2013-04-29 15:52:14

--------------------------------------------------------------

Code:

Updated: 2013-04-30 21:47:09          Timezone: Europe/London
Account: kakobrekla

BTC.sx Trade History

Trade  Opened               OpenPrice  Direction  Size    Deposit  Stop       Closed               ClosePrice   Liquidate             FundingCost  Profit
   1   2013-04-30 09:06:07  144.13005  Sell       0.0001  0.10000  154.87559  2013-04-30 16:17:50  141.84600    user                  0.00000000    0.02320829

------------------------------------------------------------------------------------------------

Yet my balance/net value shows : 0.02320829. I think this means I was in short position with zero balance/coverage?

Quote

P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.

Sure, you can use #bitcoin-assets (which is a place you should be at if you run a bitcoin business) donation address http://blockchain.info/address/1B6NP9eb4RKy9tRrXYCJnNcenZkrt5Q2gb

Btw, the sql query that grabs data and posts it here is fucked: https://btc.sx/calls/accountHistory.php (the 'order by' part, you should not order it by date which is same in many cases which means it will randomize results inside same datetime groups, which is how its NOT done, ever.)

Seal

donator

Activity: 848

Merit: 1078

Quote from: kakobrekla on April 30, 2013, 07:58:15 AM

I don't understand this completely, can you elaborate where my current balance is from? Also, one of the basic functionalities, outgoing address/tx id is kinda missing in this table.

Code:

BTC.sx Account History

Trade  Entry Type                  Amount       Date/Time
   2   TradeShort - Deposit       -0.10000000   2013-04-30 09:06:11
   1   TradeShort - Deposit        0.10000000   2013-04-30 00:17:01
   1   Trade - PnL                 0.00000000   2013-04-30 00:17:01
       Withdrawal                 -0.30000000   2013-04-29 19:55:33
       Deposit                     0.15000000   2013-04-29 17:42:40
       Deposit                     0.15000000   2013-04-29 15:52:14

Is this normal?

Not at all normal. Your account has been fixed.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

I don't understand this completely, can you elaborate where my current balance is from? Also, one of the basic functionalities, outgoing address/tx id is kinda missing in this table.

Code:

BTC.sx Account History

Trade  Entry Type                  Amount       Date/Time
   2   TradeShort - Deposit       -0.10000000   2013-04-30 09:06:11
   1   TradeShort - Deposit        0.10000000   2013-04-30 00:17:01
   1   Trade - PnL                 0.00000000   2013-04-30 00:17:01
       Withdrawal                 -0.30000000   2013-04-29 19:55:33
       Deposit                     0.15000000   2013-04-29 17:42:40
       Deposit                     0.15000000   2013-04-29 15:52:14

Is this normal?

Seal

donator

Activity: 848

Merit: 1078

Quote from: kakobrekla on April 29, 2013, 11:12:21 AM

Got beta access, so far not looking too good. Spread is huge, but thats just one of 100 things that bother me (lots on a security side of things, like changing your pass w/o the need of need to know the current one, no 2FA, list goes on, have you ever made a secure website before?). One of the more funny one is "Trade without limits" on the front and in the FAQ: "Trade Limitations: A maximum of 2 positions may be opened in both directions. This is not recommended unless it is part of a hedging strategy.". I could (once and if it goes out beta) create 100 accounts and go around this stupid and arbitrary limit?

Anyway, loaded in some change and lets see how it goes.

Hey kakobrekla, I appreciate the suggestions. A number of improvements will be made within the next few days to sort out these issues.

I'm in the process of reviewing some 2FA providers to help with the site's security, at this stage our preference is Authy. For me, the need for an additional dongle rules out Yubikeys and I have reservations about using Google's two factor authentication due to the handling of additional keys.

Since the beta testing has started, we've placed almost ~80 trades one of which bugged out. Unfortunately that one was yours.

~~Can you send me an email at [email protected] with any further details of the short position you tried to place.~~ I'm on it.

P.s. Send me a bitcoin address. To show some appreciation for your time and suggestions I'll be sending over 0.1btc.

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Update, invalid order is still opened (it doesn't have entry price), made a full balance withdrawal which was processed (while having an order opened) but its not showing in blockchain.

Update: Withdrawal processed, trading engine does not work though.

Code:

TC.sx Trade History

Trade  Opened               OpenPrice  Direction  Size    Deposit  Stop       Closed               ClosePrice   Liquidate             FundingCost  Profit
   1   2013-04-29 17:53:46    0.00000  Sell       0.0001  0.10000    0.00000  2013-04-30 00:16:47  145.13561    user                  0.00000000    0.00000000

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Ok, so I went short, price dropped a buck in that moment (could be, it happens) but the fucked up thing is, the price that I opened a position at is not listed in the open positions table. WHAT THE FUCK?

kakobrekla

hero member

Activity: 714

Merit: 500

Psi laju, karavani prolaze.

Got beta access, so far not looking too good. Spread is huge, but thats just one of 100 things that bother me (lots on a security side of things, like changing your pass w/o the need of need to know the current one, no 2FA, list goes on, have you ever made a secure website before?). One of the more funny one is "Trade without limits" on the front and in the FAQ: "Trade Limitations: A maximum of 2 positions may be opened in both directions. This is not recommended unless it is part of a hedging strategy.". I could (once and if it goes out beta) create 100 accounts and go around this stupid and arbitrary limit?

Anyway, loaded in some change and lets see how it goes.

MPOE-PR

hero member

Activity: 756

Merit: 522