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Author Topic: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones  (Read 26405 times)

jl777

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There are a total of 1 million InstantDEX assets, each asset represents .0001%

The goal of InstantDEX is to offer realtime trading of NXT, NXT assets and other cryptos. It will earn fees from commissions on the trades. By keeping costs low by using a decentralized infrastructure, it is expected to be able to distribute approximately half of revenues to asset holders.

InstantDEX had some significant technical challenges, the biggest being that direct communication between two peers is somewhat difficult. Also, thanks to mczarnek, the evil forger attack was identified and prevented. Once I am done with the low level API, it will be in Wesley's capable hands to make it as easy (maybe easier!) to use than any centralized exchange.

Except there wont be any centralized servers, there wont even be an actual website as the GUI will be running locally. Just direct peer to peer trading in realtime.

I have officially announced this yet, but I will be integrating NXTsubatomic and NXTatomic into InstantDEX. While these are not realtime trading mechanisms, they are related to trading and it makes sense for them to be part of InstantDEX. A nice bonus for all the InstantDEX holders.

The monetization model is very clear and simple. The centralized exchanges charge 0.2% to 0.5% for each trade, plus additional fees for withdrawal. InstantDEX will not have any fees for withdrawals and the commissions will be set to 0.1% at first. Keep in mind that this is charged to both buyer and seller so the total revenue will be 0.2%. This will be the lowest in the industry and coupled with the decentralized nature will provide a strong competitive advantage.

I expect InstantDEX to gain significant market share of the overall crypto trading market. The exact market share is not something I can accurately predict now.

Another point of note, there wont be any fees charged for changing a bid or ask. In addition to the wait time till the next block, that using NXT AE by itself has, there is a min tx fee charged everytime a bid or ask is changed. Combining InstantDEX with NXT AE is the superior solution.

As soon as multigateway is deployed, InstantDEX will be able to be tested. NXT(sub)atomic will probably not be ready at first.

James
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jl777

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This a technical development, but significant here anyway.

https://nxtforum.org/instant-transactions/secret-project/msg21554/#msg21554

mczarnek came up with an evil forger attack, which requires exact timing and simultaneous transaction with the victim, but the fact that it was theoretically possible was bothersome. With the advent of leased forging, all of a sudden it wasnt big giant NXT whales that had to not turn evil (we can assume it is very unlikely as they would destroy more of their NXT value that they can steal), now any large leased forging operator could turn evil and there is no assurance that a leased forger would himself have a large stake in NXT.

Anyway, it is always nice to get confirmation from the one who discovered the attack that I have a workaround. Both CfB and jean-luc are in agreement too, so rest assured the mczarnek evil forger attack will not be an issue for InstantDEX.

James

P.S. I did give mczarnek a bounty AFTER he confirmed I have avoided his attack. I did not want there to be any appearance of my giving bounty in exchange for confirmation and I expect he was totally surprised to get a bounty.
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gaman

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Hi James

I see you buying back InstantDex assets @ 33.33.... care to explain that move?
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jl777

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Hi James

I see you buying back InstantDex assets @ 33.33.... care to explain that move?
move?
just providing liquidity to the market, or maybe I projected future revenues and calculated it was undervalued, or maybe the solving of mczarneks' evil forger attack made an implementation path to the finish line much clearer.

James
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marek3ball

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Where will user actually be in contact with InstantDEX? Whole asset exchange will use InstantDEX?
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jl777

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Where will user actually be in contact with InstantDEX? Whole asset exchange will use InstantDEX?
users will use the directory server to establish contact directly with peers
Once they do, trades are done directly between peers, the blockchain is used to record such trades

you have it backwards on the second question. InstantDEX will support various selected orderbooks, including direct assetA <-> assetB trading. InstantDEX builds on top of AE. AE wont even know that InstantDEX is there, other than seeing the trades that are cleared on the blockchain

This also means that bid and ask changes can be done without cost. There will be a 0.1% commission on completed trades.

James
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marek3ball

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Thank you, well InstantDEX will be directly in the Nxt wallet invisible layer between asset exchange and user? Or new section in the wallet? Or something else?

I'm trying to imagine the final product from end user perspective.

Do you have some ROI estimation for InstantDEX?
Launch date?
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jl777

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Thank you, well InstantDEX will be directly in the Nxt wallet invisible layer between asset exchange and user? Or new section in the wallet? Or something else?

I'm trying to imagine the final product from end user perspective.

Do you have some ROI estimation for InstantDEX?
Launch date?
You will have to ask wesley about the magic he will do, I am not GUI guy

Still too many pieces that need to be pulled together for anything as specific as a launch date. We need to have crypto assets in AE first, so MGW is prerequisite. After that I will need a few weeks to finalize the low level code while wesley does the GUI. Then it will depend on testing.

You can see the peer to peer UDP via the NXYsync encrypted chat. InstantDEX builds on NXTsync for the orderbook propagation. There is also the NXTsubatomic and NXTatomic, which are not exactly realtime, but since they are crypto trading oriented I put them into InstantDEX asset. Hopefully it wont be too confusing and be a nice bonus for InstantDEX holders.

So I cant give a firm timeframe, but hopefully you can see the various pieces of InstantDEX as they finalize and integrate together

James
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much promising,with InstantDEX,the cost is almost 0,and will be the best decentralized instant exchange.
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much promising,with InstantDEX,the cost is almost 0,and will be the best decentralized instant exchange.

 :)
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marek3ball

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #10 on: May 21, 2014, 09:13:40 pm »

You will have to ask wesley about the magic he will do, I am not GUI guy
Maybe he could write here some info about final usage.

Will one of your other projects generate some trading traffic for InstantDEX?
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #11 on: May 21, 2014, 09:46:16 pm »

You will have to ask wesley about the magic he will do, I am not GUI guy
Maybe he could write here some info about final usage.

Will one of your other projects generate some trading traffic for InstantDEX?
wesley is rightfully dealing with AE stuff now. Once the dust settles I am sure he will explain the "plugin" system in some details.

I always try to build in cross promotion between brands whenever I can. Also when the time is right I am planning on a customer acquisition campaign for InstantDEX. Once the centralized exchange customers find out about how cool InstantDEX is, I expect it will be InstantDEX that is generating traffic for the other brands.

First step is to get MGW released and stable. Then InstantDEX can build right on top.

I apologize for delays, but the last week was a completely unexpected delay and it has time shifting many projects. However, we now have 20+ in TEAM, so once everyone comes up to speed I expect progress to accelerate.

James
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xibeijan

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #12 on: May 29, 2014, 10:35:26 pm »

where can i get more info about instantDEX?
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #13 on: May 29, 2014, 10:38:48 pm »

where can i get more info about instantDEX?
Next month will be a lot more info on InstantDEX. For now just its goals of realtime peer to peer trading with trades cleared using NXTblockchain

There was a deep tech discussion in the Instant transactions thread regarding mczarnek's attack. Took a while, but I found a method totally immune from that attack.

The UDP hole punching is coded and spot tested, still needs a bigger test to verify full compatibility

Basically InstantDEX will allow trading of any asset against any other asset (including NXT itself)

It will tie into NXTforex and other NXTservices, but now we are really getting ahead of ourselves

Patience and all will be revealed

James
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xibeijan

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #14 on: May 31, 2014, 12:54:44 am »

Any plans to add price charts and live updates to the NXT GUI (for the normal AE, but also instantDEX)?

Poloniex does a nice job with the TA tools integrated.
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #15 on: May 31, 2014, 01:06:40 am »

Any plans to add price charts and live updates to the NXT GUI (for the normal AE, but also instantDEX)?

Poloniex does a nice job with the TA tools integrated.
I certainly want all the fancy GUI things, but I am not GUI guy, though I can create nice color bitmaps.
First step is to get the API level solid, then all the fancy stuff will be added.
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xibeijan

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #16 on: May 31, 2014, 01:23:11 am »

Any plans to add price charts and live updates to the NXT GUI (for the normal AE, but also instantDEX)?

Poloniex does a nice job with the TA tools integrated.
I certainly want all the fancy GUI things, but I am not GUI guy, though I can create nice color bitmaps.
First step is to get the API level solid, then all the fancy stuff will be added.

Whoever built the MAC and Windows NXT wallets (one click simple install, fully integrated) really does a nice job.  Perhaps he plans to add these features.  Do you know his handle?
« Last Edit: May 31, 2014, 01:26:39 am by xibeijan »
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marek3ball

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #17 on: June 05, 2014, 09:55:49 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.
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Ludom

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #18 on: June 05, 2014, 10:54:42 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.

Same for MGW ! ???
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #19 on: June 05, 2014, 11:05:27 am »

I think James is on a break for a week right now so might not answer for a few days. There was a post but I can't find it.

Multigateway you can find in the NxtServices subforum, alpha testing is taking place as we speak >>> https://nxtforum.org/nxtservices-releases/how-to-test-multigateway-with-nxtservices-a-test-user-guide/

The beta should be released next week I read somewhere too for the rest of us to mess about with and ask stupid questions after (or perhaps that's just me  ;D). I am 95% sure InstantDEX relies on the MGW and AE so the testing for that is still underway in the same place.

James will confirm on his return, I'm sure.
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #20 on: June 07, 2014, 12:25:25 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.

Same for MGW ! ???
Mgw will be used by several other projects, most directly by instantdex and nxtsharks, after all if i will be trading might as well use mgw and instantdex
I have also come up with some monetization ideas for mgw value added services that lets it make more than just withdrawal fees.
I havent worked out the numbers yet, but i would be very surprised if the current market price wont end up being very undervalued
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #21 on: June 07, 2014, 12:29:53 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.

Same for MGW ! ???
Mgw will be used by several other projects, most directly by instantdex and nxtsharks, after all if i will be trading might as well use mgw and instantdex
I have also come up with some monetization ideas for mgw value added services that lets it make more than just withdrawal fees.
I havent worked out the numbers yet, but i would be very surprised if the current market price wont end up being very undervalued

good to see you back james :D

i like the sound of that too! ;)
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #22 on: June 07, 2014, 12:35:50 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.
I am very optimistic for instantdex, if the price gets much lower, i will be buying more
I have a few bugs to fix for mgw and dividendccalc, but after that instantdex becomes the front burner project as all the things it needs will be in place
The first version wont be the final version that integrates nxtforex trading, but even without it, being able to go after a slice of all the centralized exchange volumes will allow it relatively rapid revenue growth
Working out api details with wesley soon, so while things might feel glacier slow at times, we do need to put things in perspective

The valuation question is really a function of what trading volume instantdex will be able to garner
I have some ideas that make me quite optimistic, but until the tech is closer to beta release, best to stay calm

It will be months, not weeks before instantdex full potential will be apparent
Also as nxt grows in value, i would think the effect on instantdex is neutral at worst as the more people are trading nxt and using nxt, the more fees will be earned and that should compensate for the fact that nxt is gaining value

James
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #23 on: June 07, 2014, 12:43:25 am »

I know you have a lot of work with whole huge "elephant" project, however could you write something optimistic about InstantDEX? ;D Only for investors better sleeping.

Same for MGW ! ???
Mgw will be used by several other projects, most directly by instantdex and nxtsharks, after all if i will be trading might as well use mgw and instantdex
I have also come up with some monetization ideas for mgw value added services that lets it make more than just withdrawal fees.
I havent worked out the numbers yet, but i would be very surprised if the current market price wont end up being very undervalued

good to see you back james :D

i like the sound of that too! ;)
Not back till monday, just resting after all day snorkeling, in middle of winter!

I know a lot of people are watching every price change, but really we are in a marathon and the key to long term appreciation is making all the revenue generating assets to generate as much revenue as possible.
So i wont be spending much time at all on hyping my assets
I will work my best to be able to send out the biggest dividends possible
That is how i view my responsibility now
If some people get nervous or impatient, then they are probably over invested and need to reduce exposure
This is a long term marathon and if you compare the valuations that the assets currently are to real world companies, they are actually on the low side, just look at valuations that vcs give to companies without any products yet!
Crypto companies will have a significant competitive edge if they can fully utilize,the decentralized nature of the tech. As to market potential, i leave that to the reader to assess

James
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #24 on: June 08, 2014, 12:07:58 am »

Hello everyone,
I built a website to promote NXT and T.E.A.M
Welcome to browse
dubious dead link, removed by staff


man im in five seconds and like



that is a cool site!
« Last Edit: July 25, 2014, 08:13:36 pm by VanBreuk »
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Tosch110

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #25 on: June 08, 2014, 12:09:23 am »

I cannot read anything, can you?

KyLin

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #26 on: June 08, 2014, 12:16:31 am »

If you can not browse, Please install flash player .
Best wishes.
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #27 on: June 08, 2014, 12:19:09 am »

If you can not browse, Please install flash player .
Best wishes.

I can browse but not read the links

KyLin

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #28 on: June 08, 2014, 12:28:09 am »

what  links ?
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #29 on: June 08, 2014, 12:31:40 am »

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #30 on: June 08, 2014, 12:32:07 am »



Same for me. The rest looks slick though  ;D
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KyLin

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #31 on: June 08, 2014, 12:34:47 am »

NXT project introduction
Please click on the lower left corner of the (信息) message
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KyLin

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #32 on: June 08, 2014, 02:10:51 am »

Has been re-edit, thank you for reminding me!
Best wishes
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #33 on: June 08, 2014, 02:45:32 pm »

Has been re-edit, thank you for reminding me!
Best wishes

Cool design, very futuristic.

The asset descriptions are hard to read though. Also the visible japanese or whatever language characters are a big turn off. I think you should be able to pick a language when you load the site so you get one or the other.
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #34 on: June 08, 2014, 02:48:07 pm »

If you can not browse, Please install flash player .
Best wishes.
Flash? I'm on an iPad.  :-\
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #35 on: June 08, 2014, 02:54:53 pm »

@prometheus
Thank you very much
I am seeking translators and partners.
I have a very important project name is called: paythrough
paythrough mainly used to pay for virtual currency.
I'm doing paythrough prospectus
If anyone would like to join paythrough team, please private letter to me.
Best wishes
« Last Edit: June 08, 2014, 02:56:32 pm by KyLin »
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #36 on: June 08, 2014, 04:37:37 pm »

flash? what is this, 2008?
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #37 on: June 09, 2014, 01:43:31 am »

This website is compiled with flash
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #38 on: September 01, 2014, 05:22:48 pm »

are there plans for instadex to be traded on an exchange, like polo?
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #39 on: September 01, 2014, 07:30:17 pm »

are there plans for instadex to be traded on an exchange, like polo?
with it being inside the SuperNET core I would assume more than just Poloniex will start trading it
especially with MGW already on coinmarketcap
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #40 on: September 20, 2014, 09:51:30 pm »

is there any ETA for instantdex?? Cant wait  :)
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #41 on: September 20, 2014, 09:59:31 pm »

is there any ETA for instantdex?? Cant wait  :)
SuperNET
Teleport
InstantDEX + Tradebots

i dont work on a calendar basis, just one step at a time
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prometheus

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #42 on: October 12, 2014, 03:52:30 am »

so instadex is something that end users won't even know is there, it is just a layer of AE. its purpose is to make buys/sells nearly instant rather than waiting for the next NXT coin block.

am i close?

will this be an optional feature or will every transaction on AE use instadex?
« Last Edit: October 12, 2014, 04:22:31 am by prometheus »
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jl777

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #43 on: October 12, 2014, 05:03:59 am »

so instadex is something that end users won't even know is there, it is just a layer of AE. its purpose is to make buys/sells nearly instant rather than waiting for the next NXT coin block.

am i close?

will this be an optional feature or will every transaction on AE use instadex?
sort of
InstantDEX will match orders and clear it via NXT AE
but once two parties have agreed to a trade, then it is done, so there is no need to wait for the next block as it will just be a matter of time before it gets confirmed

James
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KyLin

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #44 on: October 14, 2014, 06:46:59 am »

InstantDEX refueling
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #45 on: January 02, 2015, 07:14:26 pm »

Hello, James!
Is InstantDEX near?
Thnx.
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #46 on: March 10, 2015, 12:08:51 am »

Bump.

Where is the best place to get the most up to date info on Instantdex?

Don't need tiny granularity, just main milestones and when they might be expected  ;D
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #47 on: March 10, 2015, 12:22:30 am »

Bump.

Where is the best place to get the most up to date info on Instantdex?
https://github.com/jl777/btcd

Quote
Don't need tiny granularity, just main milestones and when they might be expected  ;D
I am done with InstantDEX core API other than hybrid orderbooks. I am usually able to fix bugs soon after they are reported, so it is more a matter of getting a thorough testing. The GUI is looking good, so soon end users will be able to test.

I do need to revamp network security, add Tradebots and SkyNET integration, options trading, automated market makers, etc.

I can only proceed at my slow pace, so it will get done one step at a time. When the working and tested features achieve specific milestones, this is depending on the specific milestone. Since I am working as an artist more than a construction worker, I am not having a blueprint to follow.

General rule is that if you know the specific set of features, you wont know the date it is available. If you know the date, you wont know the specific features.

However, I can say that everything will be completed on a Tuesday

James
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #48 on: March 10, 2015, 03:58:07 am »

Bump.

Where is the best place to get the most up to date info on Instantdex?
https://github.com/jl777/btcd

Quote
Don't need tiny granularity, just main milestones and when they might be expected  ;D
I am done with InstantDEX core API other than hybrid orderbooks. I am usually able to fix bugs soon after they are reported, so it is more a matter of getting a thorough testing. The GUI is looking good, so soon end users will be able to test.

I do need to revamp network security, add Tradebots and SkyNET integration, options trading, automated market makers, etc.

I can only proceed at my slow pace, so it will get done one step at a time. When the working and tested features achieve specific milestones, this is depending on the specific milestone. Since I am working as an artist more than a construction worker, I am not having a blueprint to follow.

General rule is that if you know the specific set of features, you wont know the date it is available. If you know the date, you wont know the specific features.

However, I can say that everything will be completed on a Tuesday

James

Haha, i like all Tuesdays . . Because then the hangover from the weekends is gone by then.   :)


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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #49 on: March 10, 2015, 06:11:57 am »

The major question is when can I start to do real trading. Let's say we ignore Tradebots, Skynet etc, use TUI for end users. What are we waiting to be done to make first real world order executed?
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #50 on: March 10, 2015, 06:16:38 am »

The major question is when can I start to do real trading. Let's say we ignore Tradebots, Skynet etc, use TUI for end users. What are we waiting to be done to make first real world order executed?
Probably good idea to wait until we get some more trade tests done. it is quite complicated logic and very possible for there to be some bugs.

My goal is to get automated market makers in the major markets before next month. Sometime between now and when that happens would be a good time

James
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #51 on: March 10, 2015, 06:22:15 am »

I agree that proper testing is critical for decentralized software.
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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #53 on: June 25, 2015, 02:00:54 pm »

 jl777 3:26 AM
InstantDEX is what does it
you add "exchanges":[{...},...] to SuperNET.conf
with one {..} for each exchange
{"name":"poloniex","secret":"apisecretfrompolo","key":"apikeyfrompolo"}
if that is there then tradethrough is enabled, at least should be
if only "name", then you will be able to see the quotes in the same combined orderbook
the true power comes when you are making orderbooks that end up combining half the quote from one source and the other half from another
I have seen bids above asks
in which case you click twice, do two InstantDEX trades, which probable makes 4 actual trades and collect the difference
it is like the free money
which is a violation of the anti-free money regulations
so, there is a risk that part of the trade is not filled
davethetrousers 3:30 AM awsm
jl777 3:30 AM the worst that happens if 1/4 to 3/4 the trade doesnt fill is you are stuck with an actual position against the market and not delta neutral
this might cause uncontrolled fits of nervousness
but that can be cured by panic selling (or buying) so you are back to delta neutral
or you can fill the missing half
or just let it ride
after all free money is against the law
davethetrousers 3:32 AM you can choose which of the two sides to bankrupt
i choose bter evertim
jl777 3:34 AM the profit is coming from the traders though and you do unfortunately have to have accts at the exchanges you want to trade at
until
we get tradebots
then as long as there is one node with a punch through bot echoing the orderbook to the InstantDEX orderbook, then everybody gets advantage of the liquidity at that exchange
the headache of cycling the funds from one place to another is on the person running that node
so they will be adding a bit of margin for their troubles
but if they charge too much, someone else will undercut them
presto!
market forces for market makers and these market makers only need a fraction of the capital for normal market makers as they can keep recycling the trade imbalances
due to delays in these balancing transfers, I expect there is room for half a dozen active such market makers for the activest pairs
crypto trading is the killer app within the crypto space
InstantDEX will aggregate all available sources of crypto trading liquidity and allow non-technical peoples to provide market making services, or simply to click-click arbitrage
@noashh: good content above
davethetrousers 3:42 AM good indeed
so what is the actual plan, connect the exchanges, or just conquer them? one by means of the other i guess
jl777 3:45 AM capture the traders
by making it always have the best price available from any market
since traders like money
they will have no choice but to use InstantDEX
davethetrousers 3:46 AM yes
jl777 3:46 AM unless they dont mind paying more than they have to or getting less than they could
but then they are not traders and arent doing 100+ trades per day
i want the 100 super active traders using InstantDEX to capture all the available arbitrage profits there is in crypto
since there is no fee for a simple trade that is going direct to an exchange (including NXT AE), there is no additional cost to using the InstantDEX GUI instead of the exchange's GUI
then if on any market an arbitrage becomes possible, it is right there and InstantDEX makes 5 NXT in fees (2.5NXT from each half)
100 traders x 100 trades x 5 NXT isnt much, but as a core revenue stream it is ok
then the tradebots activate
allowing non-traders to become active traders
at that point I expect a 10x increase in trading volumes as anybody with a stack of any crypto can setup a set of bots to capture profits that appear
so we need as many markets alive as possible. that is what creates this free money arbitrage
then we start connecting to things that are not pure crypto, but that is for another product cycle and to fully actualize it, needs crypto777
davethetrousers 3:51 AM yip, and all that in a distributed platform, no less
jl777 3:52 AM of course. InstantDEX doesnt have any acct other than the one that people are sending their 2.5 NXT fee to
many people confuse that InstantDEX is somehow the same as MGW, but this is totally wrong
InstantDEX is trading virtualized assets
this includes actual assets, MS coins treated as assets, native crypto treated as assets
and the native crypto can be in the orderbook of a central exchange or your acct in a central exchange and eventually actual coins in your XYZ coin wallet
MGW assets are just one of half a dozen different types of assets that are supported and there is just a special case mapping of assetid <-> equiv native crypto (edited)
that is the extent of InstantDEX dependency on MGW, it is just knowing that asset # 17554243582654188572 is the same as BTC on poloniex
so it will be the best way to trade, if you like money
and it has a fixed fee of 0, 2.5NXT or 5NXT depending on the type of order you execute
but there is no fee for placing bids or asks in the InstantDEX orderbook
or cancelling them
and you can view NXT AE orderbook for BTC in the right orientation, not that there is anything wrong with BTC/NXT pricing
I think just this flipping from BTC/NXT 20,000 pricing to NXT/BTC 0.00005 alone is making it quite useful
and this wont cost anything if to trade through to NXT AE
Did I miss any wishlist feature?
davethetrousers 4:02 AM no idea, but all sounds great
just set up nxt acct for instantdex testation
jl777 4:03 AM cool, will refund any fees incurred. It is quite scary how fast you can click-click trade trade and the fees to add up fast
davethetrousers 4:04 AM so what sorts of exchanges are supported? or which aren't, if that's easier. i'm reg'd at quite a few of them
jl777 4:05 AM dont remember... hold on looking at src
InstantDEX.h will have the latest supported list:
static void *exchangeptrs[][5] =
   {
       { (void )"poloniex", (void )ramparse_poloniex, (void )poloniex_supports, (void )poloniex_trade, },
       { (void )"bittrex", (void )ramparse_bittrex, (void )bittrex_supports, (void )bittrex_trade },
       { (void )"bter", (void )ramparse_bter, (void )bter_supports, (void )bter_trade },
       { (void )"btce", (void )ramparse_btce, (void )btce_supports, (void )btce_trade },
       { (void )"bitfinex", (void )ramparse_bitfinex, (void *)bitfinex_supports, 0 },
       { (void )"bitstamp", (void )ramparse_bitstamp, (void *)bitstamp_supports, 0 },
       { (void )"okcoin", (void )ramparse_okcoin, (void *)okcoin_supports, 0 },
       { (void )"huobi", (void )ramparse_huobi, (void *)huobi_supports, 0 },
       { (void )"bityes", (void )ramparse_bityes, (void *)bityes_supports, 0 },
       { (void )"lakebtc", (void )ramparse_lakebtc, (void *)lakebtc_supports, 0 },
       { (void )"exmo", (void )ramparse_exmo, (void *)exmo_supports, 0 },
       { (void )"btc38", (void )ramparse_btc38, (void *)btc38_supports, 0 },
   };
name has to match exact. the one with <exchange>_trade supports trading if you have "api" and "key" fields
4:06 the ones without just support orderbook viewing, you can see but not touch



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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #54 on: July 02, 2015, 10:35:29 am »

is there a tl:dr?  ;)
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Phönix

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Re: InstantDEX - realtime trading of NXT, NXT assets, BTC and BTC clones
« Reply #55 on: August 03, 2015, 06:19:10 am »

Hi, any updates?
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