Topic: [BitFunder] Asset Exchange Marketplace + Rewritable Options Trading - page 59. (Read 129419 times)

Your trade has definitely picked up significantly in the last week - but a word of caution.  Your policy of allowing anything to list will bump your trade volume in the short-term but at the cost of possible loss of trade later on.

One of the types of assets which bumps trade significantly is ponzis.  They bump it by trading shares to themselves early to make it look like demand - then pay high dividends (most of which gos to themself) to lure in investors to scam.  Right now you have one pretty blatant ponzi on your site:

Exchange.ESIF

Here's all the obvious things that make it a ponzi:

1.  No identity here or anywhere for issuer.
2.  Claims of very good past record - with absolutely zero evidence to support it.
3.  Zero records of what assets he claims to hold (he can't just make them up - as then he'd be unable to pay high dividends when it was apparent his pretend portfolio had made a loss)
4.  Willing to sell shares at any price - No stated face value or valuation of units and already sold into an order below his lowest Ask (quite probably to himself to make it look like demand - and did it cheap to reduce transaction fees he lost).
5.  Paid a high initial dividend despite fund only having been running a few days and where he claims to be investing in fiat-denominated assets (how CAN he make a high profit when assets are denominated in fiat and BTC was rising massively?).

There's a very similar one on Crypto (JDBIF) which amusingly still gets trades despite having stopped paying out his promised dividends back in October.

Hopefully nearly all the trades were sales to himself - as once he gains any traction you can bet that he'll just dividend out a percentage of his sales each week then vanish once sales dry up.

I'd seriously suggest you refuse to list such obvious crap - whilst it may generate some trade in the short-term, longer term a portion of all capital going into it is going to just vanish from your market.  Not only does that reduce the funds available for future trade it can also deter some investors from investing entirely.

Still making adjustments to it also. )

That changed in last day or so - or seems to have done for me anyway.

This may be just a temporary display glitch.  If you cancel an order, when the screen refreshes it still shows the OLD reserved amount (same thing happens if you actually buy/sell - it displays old value).  If you go to market then back to the asset it gets updated.  You CAN still place bids even if the (outdated) reserved amoutn would indiicate you couldn't - there's no client-side check for validity, it's only checked at server-side (which has the correct amount).

Oh - and big thanks to Ukyo for implementing reserves being on a per-asset basis rather than global: allows me to trade a lot more without tieing up actual BTC on lots of orders that individually only have a small chance of filling.

The order canceling reserve issue should be correct. Also made sure that no one should have reserves higher than they have orders for.

While working on the above issue, I noticed that BitFunder's volume as of this moment for the last 24hrs is over 175 BTC and earlier was at 230 BTC for a new record.

We also have a hand full of new assets getting ready to go live soon as well.

I just wanted to say thank you to everyone who has showed their support for BitFunder and has helped to get it to where it is already.

I look forward to continuing to to work with everyone building on a site the community loves and trusts.

Hmm, I will look into that, as well as correct your reserve, and do a bids/reserves check.

Thanks for the heads up.

Heya, thanks for letting me know. I actually caught this earlier and corrected it.
Should not happen again. Thanks.

Obviously it depends on the implementation / structure but the site is storing the 0 * part..

Well you DO need to insert it into the right place in the query (and maybe qualify it with which table/query/view amount is to be taken from - which could be the bug in first place if 'amount' occurs as a field both in the transactions table and also in some query used to get current holdings).  Would guess current quantity held isn't a value stored in an actual database table (that would break normalisation) but rather a value in a query (or a virtual table - dunno which RDBMS they use).

That's like a one line fix

Just add && amount > 0 to the SQL query.

Very trivial glitch to fix.

My transactions list includes this:

2013-01-26 03:18:43    DIVIDEND: (CoinBr.MPBPT-O)
0 * ฿0.10999000

I have held these in the past but presently don't have any.  Looks like when you did the buy-back thing on it, you added transactions for everyone who was in the transaction table for it rather than just for those who currently held more than 0 shares.

No funds were added/subtracted and no harm done - other than a spammy message in my transaction list

ok cool, I thought it may be a challenging one

Thanks for the update!

Sorry, I saw the ticket, and was debating the best way to handle it. I will make sure to post acknowledgements at least next time.

Hi Ukyo,

Is the ticket system stuck again? Posted a ticket yesterday and it's showing as open but no acknowledgement.

Thanks, S

Great- all fixed now.

Thanks!

Hey Strello,

Your ticket has been updated and reserve has been corrected.

Your account was one of the first on BitFunder, and for about half~1 day there was a bug on removing reserves when canceling asks.

Just to be sure no one else was effected I added a new auto-check on our side that will monitor reserve totals & pending asks.

Thanks again and sorry for the delay on the ticket.

Strange, I do not see an open ticket.
If you look under support tab do you see one open?
Perhaps it did not get sent in?

Not sure what the delay is on the support system but I will definitely  get it checked into right now.

Thanks

I have no buy orders outstanding, yet when I try to withdraw or use this balance it says I have some BTC "reserved", so it will only allow me to withdraw or use the difference.

Why is this?

I submitted a support request yesterday morning with no response yet.

Is there a way to unlock these frozen funds?

Users can now select "Email Visibility" setting for their profile on signup and on the settings page.
This allows users to choose if issuers can view their email address for ease of well, whatever may or may not happen in the future.
For those who do not want their address shared, they can leave it to only share their public btc address.