[ANN]First online MPEx brokerage now in public beta

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: JordanL on March 08, 2013, 01:25:08 PM

Any word on when CoinBR will stop being read-only?

Also, can I deposit funds while the site is in this status? There are no warnings on the deposit page, I just can't trade.

Thanks.

Full functionality just restored. Any deposits made yesterday or today got merely delayed, there was no reason to prevent new ones.

Thanks for your patience!

JordanL

donator

Activity: 294

Merit: 250

Any word on when CoinBR will stop being read-only?

Also, can I deposit funds while the site is in this status? There are no warnings on the deposit page, I just can't trade.

Thanks.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: xeverse on February 06, 2013, 08:09:31 AM

Quote from: rini17 on February 05, 2013, 09:02:44 AM

Okay I get it now. But it isn't clear at all how would that apply to MPOE options. Only total traded volume is known and published, without analyzing each transaction it is hard to discern how many options MPOE bot bought back that were issued by itself (and thus effectively decreased open interest). Not even taking into account other users that recently started to do the same as MPOE. Number of option exercises in the course of month isn't known, too.

If the volume is known there would be no trouble in calculating the OI at all.
Do you have the db with each and every tx or you don't? How do you hedge your risk then?

For derivative markets OI is essential, it's the key value to analyze, not the volume..

What risk it needs to be hedged against? The options are fully covered regardless how many of them there are. And if you mean hedging against BTCUSD, how would open interest help in that?

xeverse

full member

Activity: 124

Merit: 100

Quote from: rini17 on February 05, 2013, 09:02:44 AM

Okay I get it now. But it isn't clear at all how would that apply to MPOE options. Only total traded volume is known and published, without analyzing each transaction it is hard to discern how many options MPOE bot bought back that were issued by itself (and thus effectively decreased open interest). Not even taking into account other users that recently started to do the same as MPOE. Number of option exercises in the course of month isn't known, too.

If the volume is known there would be no trouble in calculating the OI at all.
Do you have the db with each and every tx or you don't? How do you hedge your risk then?

For derivative markets OI is essential, it's the key value to analyze, not the volume..

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: xeverse on February 05, 2013, 05:18:10 AM

Quote from: rini17 on February 04, 2013, 08:29:55 PM

Quote from: xeverse on February 04, 2013, 07:46:13 PM

Naturally we need to be aware of the open interest for every option contract listed.. Please reveal..

I don't understand what do you mean, can you please explain?

http://en.wikipedia.org/wiki/Open_interest

These numbers should be available to anyone..

Okay I get it now. But it isn't clear at all how would that apply to MPOE options. Only total traded volume is known and published, without analyzing each transaction it is hard to discern how many options MPOE bot bought back that were issued by itself (and thus effectively decreased open interest). Not even taking into account other users that recently started to do the same as MPOE. Number of option exercises in the course of month isn't known, too.

Moreover, already happened several times that 80% of all trade was near beginning or end of the month and total amount of options changed wildly in matter of hours.

Any proposals how to come up with meaningful numbers in this situation are welcome.

xeverse

full member

Activity: 124

Merit: 100

Quote from: rini17 on February 04, 2013, 08:29:55 PM

Quote from: xeverse on February 04, 2013, 07:46:13 PM

Naturally we need to be aware of the open interest for every option contract listed.. Please reveal..

I don't understand what do you mean, can you please explain?

http://en.wikipedia.org/wiki/Open_interest

These numbers should be available to anyone..

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: xeverse on February 04, 2013, 07:46:13 PM

Naturally we need to be aware of the open interest for every option contract listed.. Please reveal..

I don't understand what do you mean, can you please explain?

xeverse

full member

Activity: 124

Merit: 100

Naturally we need to be aware of the open interest for every option contract listed.. Please reveal..

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

We have now our own support & discussion board on bitcoinforum: http://www.bitcoinforum.com/coinbr-com/ . Of course, we will keep responding here as well. But we can have our own place there and I really like it, OpenID support for quick registration, live chat, micropayments and other goodies Wink

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

I think the manual withdrawals are a good thing for a brokerage to have. It's one of those things that are great for security. I wish I could do manual withdrawals on my sites, not enough time in the day unfortunately.

One consideration though. There should be a backup plan in case anything happens to the broker.

Cheers.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: Bugpowder on January 11, 2013, 05:57:34 PM

Quote from: btcash on January 11, 2013, 05:45:29 PM

Like the service but manual deposits and withdrawals are really annoying and makes you less trustworthy.

How many hot wallets need to be stolen before we agree that manual withdrawls are an essential security practice?

A small majority.

Bugpowder

sr. member

Activity: 394

Merit: 250

Quote from: btcash on January 11, 2013, 05:45:29 PM

Like the service but manual deposits and withdrawals are really annoying and makes you less trustworthy.

How many hot wallets need to be stolen before we agree that manual withdrawls are an essential security practice?

btcash

hero member

Activity: 968

Merit: 547

Like the service but manual deposits and withdrawals are really annoying and makes you less trustworthy.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: sunnankar on January 03, 2013, 02:41:07 PM

Quote from: burnside on November 29, 2012, 07:20:10 PM

I suspect you're going to need to setup your backend to not trust your frontend, maybe the backend can verify orders on a per-user basis using a hash of the users auth data or something similar? I see lots of coding in your future. Wink

Yes, I think one of the main issues is the assets being 'titled' in CoinBR's name and not the user's.

Think there is a way to tie the MPEx trade receipt to the public key wallet address provided at signup so the assets are 'titled' to the user? Perhaps have a Blockchain.info type functionality.

Can you (or anyone else) please elaborate on how this could be done? I don't use blockchain.info wallet, what function do you have in mind?

AFAIK most we can do is to issue signed account statements to make assets 'titled' in user's name - that's toward the user. Other than that, unlike bitcoins, all assets on mpex account are completely fungible and no sub-account support is planned. Thus, protecting the backend from frontend... hard to do much more than set limits for suspicious behavior. Even if we figure out something better, the details shall remain known to pentesters at most. Did any other exchange publish such details?

sunnankar

legendary

Activity: 1031

Merit: 1000

Quote from: burnside on November 29, 2012, 07:20:10 PM

I suspect you're going to need to setup your backend to not trust your frontend, maybe the backend can verify orders on a per-user basis using a hash of the users auth data or something similar? I see lots of coding in your future. Wink

Yes, I think one of the main issues is the assets being 'titled' in CoinBR's name and not the user's.

Think there is a way to tie the MPEx trade receipt to the public key wallet address provided at signup so the assets are 'titled' to the user? Perhaps have a Blockchain.info type functionality.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

As we had two outages, and the last one very serious in December, we decided to waive 50% of account management fee for December (0.045 BTC instead of 0.09).

Happy New Year to everyone!

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Replying via PM. We're pretty OT now.

Cheers.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: burnside on December 01, 2012, 07:59:54 PM

Silent = away. I'm not tethered to IRC.

What difference does it make where you typed it? It was relevant to this conversation.

Cheers.

Not much difference. Only that I consider common decency for rants from irc to not be used as kinda evidence elsewhere. But that's my own fault I started them at all.

burnside

legendary

Activity: 1106

Merit: 1006

Lead Blockchain Developer

Quote from: rini17 on December 01, 2012, 07:57:34 AM

Quote from: Bitcoin Oz on November 30, 2012, 06:47:43 PM

I have one piece of advice for anyone who wants to take it. If youre previously "not legit" bitcoin site starts talking about "going legit" you are about to be fucked in the ass.

There is no "going legit" so either start out that way or embrace the dark side.

Quote

[05:20] and I'm going to my tax directorate branch tomorrow, to get official acknowledgement that i'm doing imaginary trades
[05:20] only

You should have done that before opening the brokerage.

Because if you do it now and the lawyers tell you its illegal your clients will be glbse'd

That whole quoted irc session was me joking and ranting. I knew burnside is in the channel and was curious what he's going to make from it, he decided to stay silent there and instead paste it here.

I'm not going to explain the jokes, just maybe can improve that quote, to make the point clearer:

Quote

and I'm going to my doctor tomorrow, to get official acknowledgement that i'm doing imaginary trades only

Silent = away. I'm not tethered to IRC.

What difference does it make where you typed it? It was relevant to this conversation.

Cheers.

rini17

sr. member

Activity: 340

Merit: 250

GO http://bitcointa.lk !!! My new nick: jurov

Quote from: Bitcoin Oz on November 30, 2012, 06:47:43 PM

I have one piece of advice for anyone who wants to take it. If youre previously "not legit" bitcoin site starts talking about "going legit" you are about to be fucked in the ass.

There is no "going legit" so either start out that way or embrace the dark side.

Quote

[05:20] and I'm going to my tax directorate branch tomorrow, to get official acknowledgement that i'm doing imaginary trades
[05:20] only

You should have done that before opening the brokerage.

Because if you do it now and the lawyers tell you its illegal your clients will be glbse'd

That whole quoted irc session was me joking and ranting. I knew burnside is in the channel and was curious what he's going to make from it, he decided to stay silent there and instead paste it here.

I'm not going to explain the jokes, just maybe can improve that quote, to make the point clearer:

Quote

and I'm going to my doctor tomorrow, to get official acknowledgement that i'm doing imaginary trades only

Topic: [ANN]First online MPEx brokerage now in public beta (Read 4872 times)