Topic: [BETA] SMPAKE.com - we wait, so you don't have to [MTG deposit W 1 confirm] - page 2. (Read 5823 times)
September 03, 2012, 05:54:26 PM
What happens if an amount greater than the limit (100BTC) is sent?
September 03, 2012, 03:36:14 PM
Just sent you a PM about an issue I found on the site.
Thanks for your message, its more of a safety feature for smpake, than a bug, as explained in PM.
Enjoy,
kakobrekla
September 03, 2012, 03:17:18 PM
Alright guys, another major-ish update. MagicalTux finished a special bit of api for smpake and new rules were implemented.
1 confirmation deposits are from now on for MtGox verified accounts only.
Unconfirmed accounts will wait 2 confirmations.
There is no loger an option to choose number of desired confirmations, this gets assigned automagically.
Links that have been created so far will remain 1 confirmation links regardless of verification level.
No verified account and need 1 confirmation deposits?
Even if you do not have a verified account there is still a way for you to opt-in for a 1 confirmation link. These are approved on a case by case basis. OTC ratings help a lot.
Best to find me on IRC: irc.freenode.net, #bitcoin-assets, search for kakobrekla.
Also, on this occasion, transaction limit has been raised to 100 BTC.
1 confirmation deposits are from now on for MtGox verified accounts only.
Unconfirmed accounts will wait 2 confirmations.
There is no loger an option to choose number of desired confirmations, this gets assigned automagically.
Links that have been created so far will remain 1 confirmation links regardless of verification level.
No verified account and need 1 confirmation deposits?
Even if you do not have a verified account there is still a way for you to opt-in for a 1 confirmation link. These are approved on a case by case basis. OTC ratings help a lot.
Best to find me on IRC: irc.freenode.net, #bitcoin-assets, search for kakobrekla.
Also, on this occasion, transaction limit has been raised to 100 BTC.
Just sent you a PM about an issue I found on the site.
September 01, 2012, 10:07:35 PM
Alright guys, another major-ish update. MagicalTux finished a special bit of api for smpake and new rules were implemented.
1 confirmation deposits are from now on for MtGox verified accounts only.
Unconfirmed accounts will wait 2 confirmations.
There is no loger an option to choose number of desired confirmations, this gets assigned automagically.
Links that have been created so far will remain 1 confirmation links regardless of verification level.
No verified account and need 1 confirmation deposits?
Even if you do not have a verified account there is still a way for you to opt-in for a 1 confirmation link. These are approved on a case by case basis. OTC ratings help a lot.
Best to find me on IRC: irc.freenode.net, #bitcoin-assets, search for kakobrekla.
Also, on this occasion, transaction limit has been raised to 100 BTC.
1 confirmation deposits are from now on for MtGox verified accounts only.
Unconfirmed accounts will wait 2 confirmations.
There is no loger an option to choose number of desired confirmations, this gets assigned automagically.
Links that have been created so far will remain 1 confirmation links regardless of verification level.
No verified account and need 1 confirmation deposits?
Even if you do not have a verified account there is still a way for you to opt-in for a 1 confirmation link. These are approved on a case by case basis. OTC ratings help a lot.
Best to find me on IRC: irc.freenode.net, #bitcoin-assets, search for kakobrekla.
Also, on this occasion, transaction limit has been raised to 100 BTC.
September 01, 2012, 06:17:36 PM
2.) Would you consider adding either a QR code or a link to display the QR code...
Something like this?
Done.
September 01, 2012, 01:34:40 PM
My arb bot now uses my SMPAKE address for BTC to Mtgox for transfers <= 25 BTC
Cool! If it goes according to plans, you will be able to remove 25 btc limit and not to worry soon.
There is already more than that in the buffer now and no hard limit on transaction size (for links only).
With the upcoming changes I will be able to show current buffer size. (this is not displayed now for a reason)
I guess if I could make another suggestion/request: Once you decide to raise rates, please give advance warning (here and to the emails you have on file).
Yes, changing the fees on the fly would be wrong and evil. I'll put out a notice at least few days before the change.
Also on that note, I'd like to discuss what would be appropriate fee structure for service like this?
August 31, 2012, 07:20:29 PM
Quote
The reason for 20 satoshi fee is the ratio, im thinking the weekly link fee should be about equal of the fee for 10 single transactions, what do you think about that?
Still skeptical? Use it for small amounts only until you get a better feel ;>
Still skeptical? Use it for small amounts only until you get a better feel ;>
Sorry if that came off wrong, I'm not skeptical. If you were intending to scam people there wouldn't be a transfer limit, and you wouldn't have created a game-changing system for the short term gain.
My arb bot now uses my SMPAKE address for BTC to Mtgox for transfers <= 25 BTC
I guess if I could make another suggestion/request: Once you decide to raise rates, please give advance warning (here and to the emails you have on file).
August 31, 2012, 02:43:26 PM
very slick. Nice job. "SMPAKE" doesn't exactly roll off the tongue though 
Yeah, got a lot of that. Seriously considering getting some sensible name for it.
August 31, 2012, 02:18:48 PM
very slick. Nice job. "SMPAKE" doesn't exactly roll off the tongue though
August 30, 2012, 06:42:36 PM
1.) I might want to enter the amount in USD or other currency, and not have to do the conversion to BTC myself. (Think of this being used by a merchant who only knows fiat.) Could you make the currency selectable and convert to BTCs based on the BTC/USD (i.e., converted using BTC/USD or the value from another currency using Google currency converter (e.g., to convert from $10 GBP to USD http://www.google.com/ig/calculator?hl=en&q=10GBP=?USD then convert to BTC using the last BTC/USD trade?).
Interesting thought, not sure is there a need for souch service? I will ponder this more.
2.) Would you consider adding either a QR code or a link to display the QR code (URI format with both the amount and the Bitcoin address, bitcoin:1PC9aZC4hNX2rmmrt7uHTfYAS3hRbph4UN?amount=1.234 )
For example, BitPay does a good job with the UI for this:
https://bitpay.com/cart?id=iFj4uQXWxH96Pc3TZ8rd_WJiQCn72sE-jHBkHEEkvYk= (then click the "Checkout Now" Bitcoin button to see the UI)
For example, BitPay does a good job with the UI for this:
https://bitpay.com/cart?id=iFj4uQXWxH96Pc3TZ8rd_WJiQCn72sE-jHBkHEEkvYk= (then click the "Checkout Now" Bitcoin button to see the UI)
Thank you for suggestion, its on my todo list now.
I can't seem to find the min transfer amount though. Is there still a min transfer of 5?
From the FAQ:
Fees and limits?
A single transaction fee is 2 satoshis for 1 confirmation transaction and 1 satoshi for 2 confirmation transaction. Current limits: maximum transfer amount per transactions is 25 BTC while minimum is 0.001 BTC.
Links do not have minimum or maximum limits set and transactions are processed FREE of charge. There is a small weekly fee of 20 satoshis for keeping link in High priority. If transaction amount surpasses currently available funds, it will still get processed, but with a slight delay.
20 satoshis is an unfathomably small amount in terms of fees, so comparing 20 to 10 or 2 or 1 is equally insignificant. To be honest, that fee makes me trust your service less, because as far as I understand, it's going to take like a million transactions for you earn one bitcoin? It just doesn't make sense that it would be a worthwhile enterprise for you.
Yes, as stated on the site,
Note: smpake is still in beta, limits and fees are set accordingly. Use smpake and help it get out of beta and to get more shortcuts added.
I know 20 satoshi is nothing and I can find more than that on the floor walking the street for 5 minutes, but hey, enjoy it while its like that!
The reason of 1 and 2 satoshi fee is, I wanted to have a minimal possible fee and not free, so fee system is being tested as well.
The reason for 20 satoshi fee is the ratio, im thinking the weekly link fee should be about equal of the fee for 10 single transactions, what do you think about that?
Still skeptical? Use it for small amounts only until you get a better feel ;>
There is another update coming when MagicalTux codes a bit of special mtg api for smpake. This will also probably slightly affect current fee structure and make the service even better in a few small but visible ways.
August 30, 2012, 06:26:23 PM
Major upgrade on site, we now support permanent links for your 1 confirmation deposits!
Awesome!
I can't seem to find the min transfer amount though. Is there still a min transfer of 5?
If permanent for 20 satoshis is an option, why even bother with the temp address and 10/1 satoshi options?
20 satoshis is an unfathomably small amount in terms of fees, so comparing 20 to 10 or 2 or 1 is equally insignificant.
To be honest, that fee makes me trust your service less, because as far as I understand, it's going to take like a million transactions for you earn one bitcoin? It just doesn't make sense that it would be a worthwhile enterprise for you.
August 30, 2012, 01:39:58 PM
Currently supported shortcuts:
-from: your wallet
--to: MtGox deposit address
--to: MtGox voucher code
-from: your wallet
--to: MtGox deposit address
--to: MtGox voucher code
Very nice.
Two questions.
1.) I might want to enter the amount in USD or other currency, and not have to do the conversion to BTC myself. (Think of this being used by a merchant who only knows fiat.) Could you make the currency selectable and convert to BTCs based on the BTC/USD (i.e., converted using BTC/USD or the value from another currency using Google currency converter (e.g., to convert from $10 GBP to USD http://www.google.com/ig/calculator?hl=en&q=10GBP=?USD then convert to BTC using the last BTC/USD trade?).
2.) Would you consider adding either a QR code or a link to display the QR code (URI format with both the amount and the Bitcoin address, bitcoin:1PC9aZC4hNX2rmmrt7uHTfYAS3hRbph4UN?amount=1.234 )
For example, BitPay does a good job with the UI for this:
https://bitpay.com/cart?id=iFj4uQXWxH96Pc3TZ8rd_WJiQCn72sE-jHBkHEEkvYk= (then click the "Checkout Now" Bitcoin button to see the UI)
August 29, 2012, 11:03:08 AM
Major upgrade on site, we now support permanent links for your 1 confirmation deposits!
Create your link: http://smpake.com/
More information in FAQ http://smpake.com/faq.php
One more improvement is coming in the next days, when we get access to custom mtgox api.
Create your link: http://smpake.com/
More information in FAQ http://smpake.com/faq.php
One more improvement is coming in the next days, when we get access to custom mtgox api.
August 27, 2012, 05:30:48 PM
Due to some security enhancements, for a couple of hours today transactions were not processed (i successfully secured self out of system ).
I'm really sorry about that, txes are now processed and 2 satoshi fees from affected transactions were reimbursed.
Functionality is now restored.
Site upgrade is almost ready to be pushed out, which will enable permanent links, stay tuned and try it out.
). I'm really sorry about that, txes are now processed and 2 satoshi fees from affected transactions were reimbursed.
Functionality is now restored.
Site upgrade is almost ready to be pushed out, which will enable permanent links, stay tuned and try it out.
August 23, 2012, 02:31:36 PM
Worked for me! Thanks, kakobrekla!
August 22, 2012, 05:38:49 AM
Theres a few rewards in place, only for the early adopters
Quote
Get free Bitcoins for using smpake.com!
When we reach 100 completed transactions, 3 random winners will get their addresses credited for: 1, 0.5 and 0.1 Bitcoins respectively.
SHA256 of winners IP addresses and reward payout addresses will be published on bitcointalk.org.
When we reach 100 completed transactions, 3 random winners will get their addresses credited for: 1, 0.5 and 0.1 Bitcoins respectively.
SHA256 of winners IP addresses and reward payout addresses will be published on bitcointalk.org.
August 21, 2012, 04:23:44 PM
Sweet, I'll definitely be using it in that case, at least once the 1 BTC min is higher.
Just raised the upper limit to 5 BTC for now.Is there anything preventing you from offering just a permanent address, that funds could just be sent ad-hoc, and would go to my MtGox?
Permanent relay system is in the works but it will operate a bit differently so there is still some code to be written.
How does this work on MtGox's side? Eg. how do you get them in my account faster?
There is a little trick or a workaround im not giving out just yet but in basics its about having a buffer.
August 21, 2012, 04:10:14 PM
Quote
If no deposit is detected on the network in 24 hours, offer will remain open in lower prority mode
for the next 6 days. If coins are sent after that time, contact support to reopen and finish the transfer.
for the next 6 days. If coins are sent after that time, contact support to reopen and finish the transfer.
Sweet, I'll definitely be using it in that case, at least once the 1 BTC min is higher.
Is there anything preventing you from offering just a permanent address, that funds could just be sent ad-hoc, and would go to my MtGox?
How does this work on MtGox's side? Eg. how do you get them in my account faster?
August 21, 2012, 03:29:55 PM
Quote
If after 10 minutes there is no uncofirmed tx detected, offer will be closed and if coins hit that address at a later time, (at the moment) nothing will happen automagically. (coins are not lost)
Sorry, not sure I follow "(at the moment) nothing will happen automagically. (coins are not lost)"
The reason I ask is this would be super nice for non-MtGox-Exchange -> MtGox transfers, but I can't ensure the exchange would send within 10 minutes.
You are right. I updated the workings a bit, now its as follows:
If no deposit is detected on the network in 24 hours, offer will remain open in lower prority mode
for the next 6 days. If coins are sent after that time, contact support to reopen and finish the transfer.
I think that covers the issues with delayed payments for now.
Sorry for probably stupid question, but what does confirmation mean in case of mtgox?
MtGox requires (like most exchanges) 6 confirmations before you can use bitcoins sent to them,
which on average translates to 1 hour (1 confirmation/block per 10min on avg).
With smpake, you only need to wait 1 confirmation to fund you account on MtGox for example.
August 21, 2012, 12:48:45 PM
Sorry for probably stupid question, but what does confirmation mean in case of mtgox?
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