Post
Topic
Board Securities
Re: [BTC-TC] Deprived Mining Speculation (DMS)
by
Rannasha
on 23/09/2013, 22:11:15 UTC
Deprived, are you planning to offer any services where an individual might exchange a SELLING+MINING for NAV/U price (or slight discount)? I mainly ask this because you seem to be leaning towards going to another exchange while I am currently feeling way too spooked to hold any sort of bitcoin security.

Right now I'm personally willing to buy up pairs of MINING+SELLING at .0075 in decent quantites (10+ BTC worth)

Can you create a tradebot that pays out when sending in a MINING+SELLING pair?

Anything is possible, but extending the current transfer-bot to handle MINING+SELLING conversions is highly non-trivial. The current transfer-bot (which I created for Deprived) is pretty simple in function: Keep track of the timestamp of the most recent item the trade-history, periodically pull a new trade-history from BTCT and for every incoming PURCHASE transfer that occurred past the aforementioned timestamp send out equal amounts of M & S.

A transfer the other way around is more complicated, since the software has to pair up transfers and keep track of which ones have already been handled. For the most common case, a user sending equal amounts of M & S with a few minutes at most in between, is relatively easy, but there are many different alternative cases that may occur that are more complicated to deal with properly. What if there's an hour between the two transfers? What if someone accidentally sends unequal amounts? What if that someone fixes that by sending another transfer a few minutes later? Etc...

While it's perfectly doable to create an algorithm that handles this process correctly, it would require quite some testing to ensure that all fringe cases are handled properly. With only 2 weeks of BTCT-trading left, I have great doubts whether it is worthwhile to put any effort into this.

edit:
On a completely different subject: I'm curious how the motion-results will differ between MINING and SELLING as some kind of weird sociological experiment Smiley