Exco.in has opened a market for trading BTC/NSR

[masterOfDisaster]

It’s only an assumption, but there might be some people (on this forum) who’d like to trade some PPC for some NSR…
…for you must know: trading PPC makes only sense if you trade the precious PPC for something valuable

[Excoin]

@masterOfDisaster Haha I will take that into consideration when bringing it up at our next staff meeting.

I know right now opening the source is still under discussion, but has consideration been given to possibly an open source developer version that has none of the features like voting, parking, etc. It could just be enough features to run a service that does basic blockchain operations (we could provide this given time). It would certainly give us more peace of mind and may encourage other developers to give it a try.

[masterOfDisaster]

I know that dealing with closed source has some security implications.
But as I think some more time will pass before a motion to open source the code can pass, there will be no easy solution to this problem. I’m not a developer of Nu, but I doubt that an adjusted client with stripped features that would be open source is a feasible solution, because that would require maintenance on two branches.
That might best be answered by a developer, though, as I can only try to make educated guesses…

[desrever]

@Excoin : for a long term collaboration, I guess that most of shareholders would like to be able to receive dividends from the shares they have on the exchange. I have seen some NXT assets on bter doing this, so when you are done with all initial days, this feature will be a +++

[Ben]

At the request of a few exchanges, I’ve started on a whitepaper* that describes how dividends can be collected and distributed to NSR holders. I’ll make it available to the community once it is done. In the next day or two.

* Calling it a “whitepaper” is probably overstating it, but I’m not sure if “guide” really covers it, either.

[Chronos]

The website https://exco.in appears to be down. Any estimate on when it will be back online?

[desrever]

is up now.

[Excoin]

I apologize for not providing updates here regarding the downtime, we had some issues with the trading engine so we took it down to install a patch to fix the issue while we investigated the trades completed after the problem started. While our DBA was doing that we made some UI improvements. We apologize for the delays.

We will be adding some more orderbook UI improvements in the near future to make it more readable.

@desrever I will start doing some research regarding how I would best accomplish. I appreciate the suggestions, it helps us make a better platform

@Ben I would be interested in reading your paper when it is ready.

So we are interested in doing a BTC/NBT exchange but we are now considering PPC/NBT and PPC/NSR. We could turn on the PPC/NSR exchange now if there is enough interest.

[Chronos]

We could turn on the PPC/NSR exchange now if there is enough interest.

I would recommend holding off for now. If you have too many currency pairs, they are like different empty rooms, and your customers enter different rooms and miss each other. Keeping all your customers in one room helps them find each other.

Of course, I may be wrong, but that is my thought on the matter.

[Excoin]

@Chronos: I agree, we will wait until we get the BTC/NBT exchange online. We really don’t want to be another exchange with the giant list of exchanges down the side. After learning more about these projects we do think a PPC/NSR and PPC/NBT exchanges would be valuable.

[desrever]

Api Wrappers are ready, will take probably at least a week before the 1.5 nubot get released. Also, liquidity provider election started

[Excoin]

We activated the NBT wallets, we will turn on the exchange when you are ready.

We are very excited about Nu project, we appreciate the opportunity to be apart of this.

[tomjoad]

I’ll update your trading pair status on www.nubits.com/Exchanges and also add you to the main page “Exchanges” sub-menu bar once everything is live.

[Excoin]

We recently rolled out UI updates, we hope everyone who has time takes a look. We will be rolling out more UI patches in the future to try to make trading easier and more intuitive.

We were also discussing the potential instead of doing a BTC/NBT exchange where the price is in BTC we do a NBT/BTC exchange where the price is in NBT.

We feel there is is a big benefit from pricing BTC in NBT (or essentially USD) instead of the current norm which is the reverse. Since most traders are very familiar with the USD value of BTC it may be more intuitive to traders who are used of trading BTC for USD.

This may have the additional benefit of fostering a greater understanding NuBits as well. By treating it like USD on our market we basically show it has stability of USD (and can be converted to USD whenever) yet all the benefits of being a cryptocurrency.

We appreciate any feedback regarding our layout, or plan for the NBT market.

[Chronos]

We were also discussing the potential instead of doing a BTC/NBT exchange where the price is in BTC we do a NBT/BTC exchange where the price is in NBT.

This makes sense to me. I believe all exchanges should follow this model.

If you would like Excoin to become the first truly NuBits-centric exchange, you may even consider offering currency pairs solely denominated in NBT. For example, users would send BTC to your system, exchange it for NBT, and then be able to purchase other crypto directly with their NBT. Pairs as follows:

• NBT/BTC
• NBT/NSR
• NBT/PPC
• NBT/BLK
• And so on…

This model prices all crypto against a stable USD value. It has never been done before, but the idea is something to think about.

[Excoin]

@Chronos: That is exactly what I was thinking too, it allows us to provide essentially USD trading pairs against anything without having to involve the traditional banking system.

We are very interested in this idea of providing more NBT trading pairs beyond BTC, but we wanted to see what the community felt before expanding that direction. This is the direction I’m pushing for, it gives our market essentially USD exchanges while showcasing the great benefits of NuBits.

Thank you for your feedback.

[mhps]

exchange where the price is in NBT

I am totally for it.

[desrever]

f doing a BTC/NBT exchange where the price is in BTC we do a NBT/BTC exchange where the price is in NBT

On bter they have his mechanism for bitUSD / BTC.

It requires some changes to the Bot, aka a little bit more delay in bringing liquidity. If people thinks this is right we should add it anyway.

[Excoin]

@desrever I think it would be worth the delay to present it in the price of NBT. We can start with NBT/BTC and then slowly add more as people realize what what trading with NBT offers.

[desrever]

I agree, lets do it. Will it be possible to add the pair for me to test for a couple of days without making it public?