Nxt Forum

Nxt Discussion => Trading & Exchanges => Topic started by: pscoin on February 04, 2015, 03:19:09 pm

Title: PS Coin - The best Nxt exchange you will ever use
Post by: pscoin on February 04, 2015, 03:19:09 pm
PS Coin today is pleased to launch the first correctly incentivized market on pscoin [dot] com. The unique PS Coin market algorithm encourages "healthy" behavior among traders in a market by awarding limit orders with royalties relative to their participation in helping produce a deep, dense, and stable market. Traders are automatically compensated for placing orders for as many units of currency as they can, as close to the bid-ask-spread as they dare, for having those orders sit there for a long time accumulating royalties, and then eventually having their orders trade. As a result of our incentive algorithm, all of the bids and asks you will see on the PS Coin markets are very likely to remain there. It's not an illusion of stability, as traders have come to experience many times in traditional markets. It's actual stability.

You are encouraged to watch our video for a detailed explanation of how the PS Coin algorithm works, by the conceiver of the algorithm himself and co-founder of PS Coin, Andrew Tepper - Unfortunately, I can't post links yet, so go on our homepage to see the video!

PS Coin's engineering team has spent over a year in development, with the goal of building the most secure and most powerful exchange possible.

Security:

The majority of all funds which will be deposited to the PS Coin exchange are stored offline in bank vaults. For the rest, we have sought the expertise of cryptographers and decorated cybersecurity experts to design and engineer software security systems that far exceed industry standards for excellence. Because we can't accurately condense all of the information into this press release, you are encouraged to read more about how we will protect your funds on our security page.

Performance:

The PS Coin incentivized trading engine has to do a bit more work than standard exchanges, because it must process accumulation and capture of royalties for every order. Yet our C++ based engine can handle about 500,000 new orders per-second on a single commodity server.

Experience:

PS Coin engineers have extensive experience in the crypto-currency space. Co-founder Andrew Tepper is also the founder of eGenesis, the 14th company ever to accept Bitcoin as a currency, and creator of Dragon's Tale, which is likely the longest running Bitcoin based business in the world (in continuous operation since October 2010.)

Availability:

The PS Coin initial alpha launch will commence worldwide this morning at 9am EST and allow traders to participate in the following initial crypto currency markets:

* Bitcoin / Nxt
* Bitcoin / Darkcoin
* Bitcoin / Litecoin
* Bitcoin / Paycoin
* Bitcoin / Peercoin
* Nxt / Darkcoin
* Nxt / Litecoin

Our initial alpha testers can only sign up after receiving an invite. Press and media personnel are encouraged to request an invite from us directly via e-mailing our co-founder, Daniel Pusateri: daniel [at] pscoin [dot] com - Upon request, a very small amount of funds may be provided to press and media personnel for the purpose of testing the PS Coin exchange.

Revelvant links:

Website: pscoin [dot] com
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: lumbridge on February 14, 2015, 08:26:19 pm
Looks interesting! Congrats on the new release!  Found you on youtube.com/watch?v=dLqhMIksOjU and really like the demo.  I will need to watch it a few times.

I was just starting to browse through this area of the forum so I could create a list of all the exchanges where NXT is traded.

I really like the concept of rewarding the trader for completing the trade - once people check it out, do the math and it works - that should draw in a lot of large volume traders... and if you can also trade fiat to fiat - wow!  PScoin will be a busy place!

High five!


Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: pscoin on February 14, 2015, 11:31:21 pm
Looks interesting! Congrats on the new release!  Found you on youtube.com/watch?v=dLqhMIksOjU and really like the demo.  I will need to watch it a few times.

I was just starting to browse through this area of the forum so I could create a list of all the exchanges where NXT is traded.

I really like the concept of rewarding the trader for completing the trade - once people check it out, do the math and it works - that should draw in a lot of large volume traders... and if you can also trade fiat to fiat - wow!  PScoin will be a busy place!

High five!

Glad you like it :)

Yes, excellent observation! It's worth highlighting for others that by only crediting users their accumulated royalties upon trade execution (what we call "capturing"), that also incentivizes traders to not retract their orders and thus encourages market stability.

In fact, all three of these attributes of our algorithm incentivize market stability:


To reiterate what is explained in the video - Orders in the PS Coin markets accumulate royalties based on three factors:


Questions are encouraged. I'm actively checking this thread.
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: coinmaster on February 16, 2015, 05:22:47 pm
Thanks Danny for the invite,its a great exchange and can see you taking a good bit of the market.Once everyone fully realises your potential your going to be a busy place.Best of luck with your new venture!!! 
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: Goetz on February 17, 2015, 07:05:12 pm
Perhaps NEM and Cloak (new team) could be integreted in the future.
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: pscoin on February 17, 2015, 10:17:19 pm
Thanks Danny for the invite,its a great exchange and can see you taking a good bit of the market.Once everyone fully realises your potential your going to be a busy place.Best of luck with your new venture!!!

You're welcome! Thank you!

Perhaps NEM and Cloak (new team) could be integreted in the future.

Do you represent them? If so, please send me a message and we'll discuss.
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: DesertWind on February 18, 2015, 03:54:48 pm
PS Coin today is pleased to launch the first correctly incentivized market on pscoin [dot] com. The unique PS Coin market algorithm encourages "healthy" behavior among traders in a market by awarding limit orders with royalties relative to their participation in helping produce a deep, dense, and stable market.

Using market terminology, you propose a new way of distributing rebates for providing liquidity.

Thanks for including NXT... and seeing that it has a big future.  :)
Title: Re: PS Coin - The best Nxt exchange you will ever use
Post by: pscoin on February 18, 2015, 07:01:21 pm
Using market terminology, you propose a new way of distributing rebates for providing liquidity.

Thanks for including NXT... and seeing that it has a big future.  :)


No, that's not correct. Please review again. You collect royalties on what you "want", not what you are willing to "give". A rebate would be based on what you already have and are wiling to give, so this is completely different.

So for example.. If you have a Bid that is saying you will pay $240 for 1 Bitcoin. You "want" bitcoin, and thus, you will accumulate royalties in Bitcoin (paid by Askers selling Bitcoin). If you are Asking $240 for 1 Bitcoin, you "want" dollars, and so you will accumulate royalties in dollars (paid by "Bidders" selling "dollars"). A rebate would be the opposite behavior of this.
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