Topic: BitFloor.com Rocks! - page 5. (Read 17612 times)

Quote from: genuise on June 24, 2012, 11:23:51 AM

I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

take a look at bitcoin-analytics.com/#arbitrage

you should wait until data is fully loaded and arbitrage table is displayed
then it is possibile to analyze arbitrage apportunities depending on BTC volume you consider to trade

What is the MtGox fee per trade?

I would read this before you go all gungho https://bitcointalksearch.org/topic/bot-74291

nimda

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Quote from: nimda on June 24, 2012, 11:20:57 AM

Quote from: nimda on June 24, 2012, 11:20:57 AM

I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

take a look at bitcoin-analytics.com/#arbitrage

you should wait until data is fully loaded and arbitrage table is displayed
then it is possibile to analyze arbitrage apportunities depending on BTC volume you consider to trade

What is the MtGox fee per trade?

not sure, but as far as I can remember it varies between 0.6 - 0.5 - ... % depending on your trading activity
for sure you should consult on mtgox website

In that case it could be occasionally profitable to arb MtGox and bitfloor.
Off to the IDE!

genuise

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I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

take a look at bitcoin-analytics.com/#arbitrage

you should wait until data is fully loaded and arbitrage table is displayed
then it is possibile to analyze arbitrage apportunities depending on BTC volume you consider to trade

What is the MtGox fee per trade?

not sure, but as far as I can remember it varies between 0.6 - 0.5 - ... % depending on your trading activity
for sure you should consult on mtgox website

nimda

hero member

Activity: 784

Merit: 1000

0xFB0D8D1534241423

I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

take a look at bitcoin-analytics.com/#arbitrage

you should wait until data is fully loaded and arbitrage table is displayed
then it is possibile to analyze arbitrage apportunities depending on BTC volume you consider to trade

What is the MtGox fee per trade?

genuise

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Activity: 379

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Quote from: bb113 on June 23, 2012, 04:56:41 PM

I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

take a look at bitcoin-analytics.com/#arbitrage

you should wait until data is fully loaded and arbitrage table is displayed
then it is possibile to analyze arbitrage apportunities depending on BTC volume you consider to trade

nimda

hero member

Activity: 784

Merit: 1000

0xFB0D8D1534241423

I wonder if I can make a simple bot which holds USD on one exchange e.g. MtGox and holds BTC on BitFloor, then continually updates BitFloor asks to be MtGox + MtGox Fee + .05. Would that result in any trades, or are the markets generally too close together?

EuSouBitcoin

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BitFloor just passed Intersango to move from #8 to #7 on the 30-day BTC/USD volume list at bitcoincharts.com. Congratulations BitFloor. Keep on Rockin'!

bb113

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Perhaps there is a market for dedicated portable devices that generate OTPs for a person's various accounts. You would have two of them. One as backup kept in a safe place, one to keep with you as you travel.

rjk

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1ngldh

After thinking about this a bit more. The most convenient thing is to just create shortcuts to files containing the secret string on the computer you use to trade. The most secure thing would be to put JAuth and the secret keys on a boot cd/drive and only run it on a computer/device that never connects to the internet. Is this correct?

edit: I guess you would need to manually set the clock.

Sure that would work too.

bb113

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After thinking about this a bit more. The most convenient thing is to just create shortcuts to files containing the secret string on the computer you use to trade. The most secure thing would be to put JAuth and the secret keys on a boot cd/drive and only run it on a computer/device that never connects to the internet. Is this correct?

edit: I guess you would need to manually set the clock.

bb113

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Quote from: rjk on June 23, 2012, 04:28:15 PM

Quote from: bb113 on June 23, 2012, 04:26:21 PM

Quote from: rjk on June 23, 2012, 04:25:11 PM

Quote from: bb113 on June 23, 2012, 04:26:21 PM

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

I'm assuming you would just log in and disable 2FA, then re-enable it to generate a new OTP.

From Bitfloor site:

Quote

You can setup two factor authentication for your account through Google Authenticator (free Android and iOS app). This provides a higher level of security for your account.

Note: Once two factor authentication has been activated, it will be required to access your account at all times.

Right, but if you have backed up the compromised secret, you could use it one last time to log in and disable 2FA. This assumes that disabling it is an option, of course.

Not sure.

rjk

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1ngldh

Quote from: rjk on June 23, 2012, 04:25:11 PM

Quote from: ErebusBat on June 23, 2012, 04:23:13 PM

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

I'm assuming you would just log in and disable 2FA, then re-enable it to generate a new OTP.

From Bitfloor site:

Quote

You can setup two factor authentication for your account through Google Authenticator (free Android and iOS app). This provides a higher level of security for your account.

Note: Once two factor authentication has been activated, it will be required to access your account at all times.

Right, but if you have backed up the compromised secret, you could use it one last time to log in and disable 2FA. This assumes that disabling it is an option, of course.

bb113

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Quote from: rjk on June 23, 2012, 04:11:24 PM

Quote from: rjk on June 23, 2012, 04:25:11 PM

Thanks for your help. One last thing I want to verify though:

Quote

Also, if I write down the secret provided by google authenticator I can simply input that into JAuth if I lose my phone, which will then generate the 6 digit pin that allows me to log in.

Is the above true?

Yes. The secret is the key to it, and it theoretically should work across several devices and always generate a working OTP. Your clock must be correct since it is a time-based system.

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

Right because something that size can never got lost so that isn't a problem with the yubikey Roll Eyes

I don't travel with it... I have lost/destroyed a good number of phones in my time.

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

I'm assuming you would just log in and disable 2FA, then re-enable it to generate a new OTP.

From Bitfloor site:

Quote

You can setup two factor authentication for your account through Google Authenticator (free Android and iOS app). This provides a higher level of security for your account.

Note: Once two factor authentication has been activated, it will be required to access your account at all times.

rjk

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Activity: 448

Merit: 250

1ngldh

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

I'm assuming you would just log in and disable 2FA, then re-enable it to generate a new OTP.

ErebusBat

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I am the one who knocks

Quote from: rjk on June 23, 2012, 04:11:24 PM

Quote from: rjk on June 23, 2012, 04:11:24 PM

Thanks for your help. One last thing I want to verify though:

Quote

Also, if I write down the secret provided by google authenticator I can simply input that into JAuth if I lose my phone, which will then generate the 6 digit pin that allows me to log in.

Is the above true?

Yes. The secret is the key to it, and it theoretically should work across several devices and always generate a working OTP. Your clock must be correct since it is a time-based system.

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

Right because something that size can never got lost so that isn't a problem with the yubikey Roll Eyes

bb113

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Activity: 728

Merit: 500

Thanks for your help. One last thing I want to verify though:

Quote

Also, if I write down the secret provided by google authenticator I can simply input that into JAuth if I lose my phone, which will then generate the 6 digit pin that allows me to log in.

Is the above true?

Yes. The secret is the key to it, and it theoretically should work across several devices and always generate a working OTP. Your clock must be correct since it is a time-based system.

Sounds good. So to bitfloor: What is the protocol for when I lose my phone and no longer trust my secret key? I like the yubikey because it can simply remain in a safe place.

rjk

sr. member

Activity: 448

Merit: 250

1ngldh