Topic: [ANN] SWISS COIN [EXCHANGE] - www.swisscex.com - page 10. (Read 82402 times)

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Rainbowcoin now live on SWISSCEX

https://www.swisscex.com/market/LGBT_BTC

Kevin,

Appreciate you taking the time to address people's concerns about swisscex.  I only trade BTC/NLG so I can't speak to what's going on with other coins.  With NLG, there appears to be a trading bot on swisscex that buys/sells with itself every 5-6 minutes at prices in between the bid and ask.  so for example, at the time I'm writing this, the highest bid is 66 satoshi and the lowest ask is 101 satoshi.  so the bot will buy and sell with itself at a random price every 5-6 minutes between 67 and 100, never trading with anyone active in the swisscex marketplace.  My question is, based on your comment above, is this a swisscex sponsored bot using the public API to 'test the system'?.. if so, one could argue swisscex is manipulating trading volumes, making it appear that swisscex is the exchange with the most NLG volume, when in reality it is not.  If the bot is not sponsored by swisscex, I would question the motivation for an active trader to buy/sell with himself, as he would be losing $$ on every transaction if paying fees. 

On coinmarketcap.com, a very popular cryptocoin 'leaderboard', it lists SwissCEX as the exchange with the highest NLG/BTC volume, at $2,521 USD per day, however, I've watched the highest bid and lowest ask all day today, and not 1 NLG was bought/sold.  I think this is the basis for some people's concerns about swisscex. 

Perhaps swisscex has nothing to do with the autotrading bot, and rather it's a poorly coded 3rd party bot that's losing $$ to swisscex in fees everyday and will eventually run out of $$.  But based on the facts above, it gives the illusion of either a.) swisscex is manipulating NLG trading volume, or b.) an external user is somehow extracting value from trading with himself, which would be a pretty serious bug in the system. 

Not looking for a trial, just hoping to help find answers.  I haven't been into crypto currency long so it's very possible I have no idea what I'm talking about.    Apologize in advance if that is the case.

Do we both talk about trades and not about orders?

Well these two things have nothing to do with each other. With the new release it is now possible for the first time to trade through our API. This makes it easier for bots and algorithmic traders to place orders.

The assumption I can make based on your previous question, is that you mix up two different things. During the time the bug existed AND was in a buggy state, all markets were affected.

Actually all people who opened a ticket regarding this problem should have received a statement containing the words above on the 24th or later.

It feels a bit like you want to make a trial here. I don't really understand what your goal is.

We provide every trader the same chances on our markets. This is important. When we trade, we usually only do this to test our own system and through the same interface as provided to the public. We do not take any advantage as traders, like integrating trading bots into our trading system, to skip order queues or lower latency etc. Also we are 100 % solvent and we hope that we can provide a proof for this in the future.

Kevin
SWISSCEX

Thanks Kevin for the update. There are however some unanswered questions in your reply.

- you state only a few dozen but in my vincinity only there are at least 4 people with multiple wrong trades.
- can you please explain how is is possible that a failure in the trading software can cause very heavy trading with very high volumes, some coins a multiple of the days volume in an hour!!
- How can you  explain that if the base software has a flaw only a few coins - RDD, RUBY, NLG and also CANNA right now are showing awkward trades.
- I have personally given all information about this problem twice, I have not heard anything from support ever since so it would be nice to answer the support calls with the same info you presented over here because not everyone looks at this thread.

As an exchange you have to be totally transparent about whats going on... and to be honest I'm not confident at the moment.

Dear community,

Some users recently encountered problems on swisscex.com. We have finally identified and fixed the problem. The following explains what caused the problem:

The core of our exchange is based on a professional trading software called LMAX. Since cryptocurrencies with its large numbers require different data types, our implementation has lead to a misbehaviour, which only occurred after a large number of trades. What we did to temporarily “fix” the problem during the past days, was simply to restart the troubling service. This is why the error occurred only a few times for short time periods.

During these time frames, there was the possibility that a trade was executed with a wrong amount or price. We estimate that only a few dozen trades were affected. We will of course fully reimburse all losses caused by this error.

If you have become a victim of this error and executed a trade at the wrong price, please open a ticket through our support form. To speed up the process, please copy the entry from your trade history (Transactions > Ovierview > Trades) and the original amount and value if you remember. We should be able to reconstruct the original order values and will remiburse your loss.

We apologize for you troubles and thank all of you for your support and trust.

Best regards,

Kevin / SWISSCEX

Hi Arhip,

Please open a ticket if you haven't done that yet. There can be some temporary problems in a few markets at the moment. We are working on fix for these issues.

Thanks for your patience.

Kevin / SWISSCEX

Hi subSTRATA,

Thanks a a lot for your constructive feedback.

Address Book
When you perform a withdrawal, you can add the withdrawal address to your address book. After confirming it once (email), no further email confirmations are required for this address.

Withdrawal Address
Privacy, in terms of not trusting your email channel, is a valid point. We already had some internal discussions about alternatives to email confirmations, but mainly because it is a hassle. Our prefered alternative is 2FA confirmation at the moment in combination with the address book.

Coin Selection
It is very difficult to figure out which coin makes sense to add. Usually nobody is interested in trading a certain coin on another exchange when it is already listed on another reasonable exchange.
The reason we don't have coins like NXT is, that we first need to prepare our system for NXT clones, cryptonote coins and other non-Bitcoin derivates.

We will take a look at these coins, although they are already listed on a major exchange.
Feel free to contact us about new coins at [email protected] or via bitcointalk/support

Best regards,

Kevin / SWISSCEX

Unable to place an order!

Think you have to look at your exchange swisscex. The trading in NLG is  weird and orders are rejected?? or even fullfilled at wrong prices. This all started around the time of update.

How exactly it works? I see no way to add some address manualy, will address be added once 1st withdrawal to address in question is confirmed via email? Why is there a need
for email confirmation at all? For example, Bter exchange works perfectly fine without revealing my withdrawal addresses to anyone who can intercept and read plain text emails,
all it takes for withdrawal are withdrawal password (not the same as login password) and 2FA.

On new coins added to exchange, you might look into some established coins out there instead of adding any crap that pops up around and gets (fake) high trade volume for a
week and then slowly dies off. There are coins which are currently available on just 1 exchange which have decent trade volume, are long time around (not weeks but at least
few months) and proven there is almost constant interest in trading them. Listed below are just 2 coins I can think of right now:

http://coinmarketcap.com/currencies/tekcoin
http://coinmarketcap.com/currencies/bitcoin-plus

Also, why not add NXT or at least some of NXT clones? For example, NFD is available only on Bter exchange.

Dear community,

SDCoin (SDC) is now tradable on swisscex.com: https://www.swisscex.com/market/SDC_BTC

Best regards,

It works fine now thanks!

Hi sonihr,

Probably it is just the live update that didn't work. If you refresh the page, is the order canceled?

Best regards,

SWISSCEX

I can't cancel my orders... It shows PENDING CANCEL... then does nada...

Dear traders,

We are pleased to announce our latest software release.

Today between 3 and 6 a.m. UTC+2, we successfully deployed our latest software upgrade. Some words about this release:
A lot of back-end services have been touched in this release. The long development cycle was necessary to ensure security and to prepare the system for future changes. Some major features come already with this release, like the fully-featured trading API. From now on we will release new features more frequently as we used to do in the past.

Changelog

• APIv2 The old API provided only market data. The new API allows you to perform all trading-related tasks.
• New order types (only through API for now):

Stop order
Market order

• Address book for withdrawal addresses

No email confirmation is needed for addresses in the address book.

• Deposit status

Pending deposits are displayed with a progress bar on the My Portfolio page. The number of confirmations will give you an idea of the status of your deposit.

• Improved user experience

Many live updates are now working properly: Open orders, balances, order book

• Trade history on market page

You will see now your past trades directly on the respective market pages

• Correct display of balances

In the old system, there have been cases where the displayed balance was 1 Satoshi too high. This prevented some users from placing an order or performing a withdrawal, when the whole amount was entered in the form.

Known issues:

• OLHC charts are loading very slowly (working on a fix)
• Trade history on market doesn't show if buy or sell order

Read more about it on Reddit.

When is this suppose to happen?

Magneticoin repeated in the voting list, please correct

iXcoin is the winner of this week's voting. Market will be available soon.
Next voting will end in 7 days: https://www.swisscex.ch/voting