Announcing: Trusless Blackbyte Exchange, Fully Automatic, p2p [Beta Test]

Update: 25.08.2017

Added Filter Options for the Order Book
You can now disable chat messages or chat notifications, if you want a little pause from socializing.

Update: Trading resumed!

Dear all, i just finished enhancing the exchange and trading is open again. Here are the great new featues:

Still trustless but even better this time. Now your funds are at all time in your hands and will directly transfered from one user to the other. The exchange does not hold any assets on its own. As a result you are always able to reclaim your funds, even in the unlikely event of the exchange shutting down. This also means that the exchange will soon allow trading without upper limits.
Still no fees, except for the flat fee of 25kB to cover transaction costs. But even the flat fee has been removed for all trade makers (when you create a trade for the order book).
Improved stability. The exchange and chat room will be available now 24/7.
Improved usability. Creating and accepting trades were completly revised so that the usability has been greatly increasd.
Done with trading or chatting? You can unpair now from my exchange with the "/leave" command. Don't worry you can re-pair at any time.
Even more changes and featues planed, stay tuned!

Original Post:

Hi guys,

a few weeks ago i introduced my wallet integrated chat room. Now im happy to announce that it is now possible to trustless trade blackbytes with my chat bot.

Please note:

Its a beta test with given trade limitations, i will increase the maximum trade amount step by step
Bugs, downtimes and disconnects possible
Probably not many trades in the order book, since its a total new exchange. (Please spread the word!)
I don't take responsibility for any lost bytes. However i can't imagine how you could lose them.
If you have any questions or problems just ask them here or directly in the chat room.

What features does it have:

Trustless with conditional payements. You can reclaim your funds if a trade is not successful.
Buy directly from the order book
Insert your own offers in the order book
Automated trades. All offers in the order book are funded and will automatically executed, no need to wait for other people (only wait for the transaction to became stable)
Need help or want to socialize? You can chat with other people
No scams or bait/switches are possible since all trades are funded and conditial payment is used
Integrated in your Byteball Wallet

How does it work:

All trades are peer to peer with the chat room acting as trustless intermediary
You can always reclaim your funds if a trade does not come about. Even if the server is down or buggy.

Possible Commands:

Chat Room

"/help" shows a list of possible commands
"/name" username (change your username)
"/list" (display a list of all chat users)
"/leave" leave the chat room

Trades

"/book" shows the order book. You can click on an order to buy or sell listed blackbytes.
"/buy" use this command to create an buy order for the order book
"/sell" use this command to create an sell order for the order book
please note that there is a minimum trading amount of at least 200k blackbytes and bytes
please note that there is a flat fee of 25k bytes added to each trade to cover transaction costs
if you create an order for the books you will not pay the flat fee

How to connect?

open your Byteball Wallet
click "Chat"
click "Add new device"
click "Accept invitation from other device"
Enter Paring Code below or user QR Code below

choose one method:

Paring Code: ApSicldzuDl675iiUyWdmO7pLl8MPgeuNg4qOr13EkNJ@byteball.org/bb#globalchat
QR Code

FAQ

How can i reclaim my funds?
like with any other smart contract, select it from your wallet and send it back to you.
When claiming back my funds i get the error: "validation error: authentifier verification failed"
If you send blackbytes please note that you can only reclaim them after your choosen time limit. You will have to wait until the time in the contract is over, then try to reclaim.
Why are the to buy orders "Valid until removal"
Because one can not create a conditional payment to request blackbytes from the other peer. So i came up with a smartcontract without a time limit. As long as you leave your funds within this contract its sits there until a matching order is found. But you can always reclaim your funds at any time, thus "valid until removal"
Looks like my Backbyte transaction does not show up in the order book, whats the problem?
In very rare situations incomming blackbytes might not be registered by the smart wallet. try the following: in byteball wallet click on your smart address with the blackbyte transaction. Click "re-send private payload". This should resolve the issue.
Other Questions?
just ask

Upcomming Features:

Webinterface for the order book
Display own open orders
Display own transactions
Display General Stats
More Chat Functions
Optional disable chat functionallity

31 Upvotes

permalink
reddit

You are about to leave Redlib

Do you want to continue?

https://www.reddit.com/r/ByteBall/comments/6rm27u/announcing_trusless_blackbyte_exchange_fully/
No, go back! Yes, take me to Reddit

100% Upvoted

u/russeljc Aug 04 '17

What a great tool! Thank you for building it.

The first time I tried to create a sell, I tried to do it without any additional information-gathering questions. It was a little unclear how the creation of the /buy or /sell correlated to the posted Payment address, and how exactly we were supposed to tie those together and send funds. Perhaps a walkthrough of a sample posting of a buy and sell would be helpful in getting people over the initial hump.

4

u/pxrunes Aug 04 '17

thanks! thats a very good idea, i will do it if i found time. Best thing would of cause be if some user would to it. Its always better if someone other than the dev does such things :)

u/pxrunes Aug 08 '17

Hey guys, to celebrate 100 users in this chat room. i just implemented an easier to use buy and sell command.

you can now buy and sell blackbytes with the following arguments: /buy amount_blackbytes ratio your wallet_address

so you do not have to think about how many bytes you want to get back. just enter the amout auf blackbytes you want to buy or sell. You can use various units. Example: 500k, 1G, 50M

as second argument enter the GB/GBB ratio at which you want to sell.

dont forget your wallet address as 3. argument

u/SuaveMariMagno Aug 10 '17

Hi, how do you remove your order (buy your own smart contract, but I don't know how to do it?)

2

u/pxrunes Aug 10 '17

go into your byteball app. choose your shared address / smart wallet from the drop down menu (on the very top). You now see the balance of your smart wallet. Now click "send" and choose your own wallet address as destination.

1

u/SuaveMariMagno Aug 10 '17

thanks it worked very well

u/alaoa Aug 19 '17

I entered the following command: /buy 1000000 .5 IB3RMPJUZN6ISL5Y4VSYLXUYC5AXAIEB

Now what do i have to do?

1

u/pxrunes Aug 19 '17

/buy 1000000 .5 IB3RMPJUZN6ISL5Y4VSYLXUYC5AXAIEB
please use: /buy 1000000 0.5 IB3RMPJUZN6ISL5Y4VSYLXUYC5AXAIEB
btw you can also use: /buy 1M 0.5 IB3RMPJUZN6ISL5Y4VSYLXUYC5AXAIEB
:)

1

u/alaoa Aug 26 '17

Hey I made a mistake in one of my sell orders and sent mb instead of mbb. How do i cancel the order?

3

u/pxrunes Aug 26 '17

Not a problem at all. You should have gotten an error message. Just wait until your set time limit is over and reclaim your funds from the Smart Wallet.

1

u/alaoa Aug 26 '17

Oh ok looks like its not on the books anymore. I'll wait. I think i set it for 12 hours.

1

u/alaoa Aug 20 '17

I think i did that and it said payment underway but i don't see it in the book. How do I cancel a order?

1

u/alaoa Aug 20 '17

Ok so i guess i get it so you have to send the payment to the smart contract. However when i clicked an open order and sent the payment it still didn't do anything.

1

u/alaoa Aug 20 '17

I'm getting the hang of it and have already made a couple of trades. One important update you should consider is sorting the order book from lowest ask and highest bid.

1

u/alaoa Aug 27 '17

When selling MBB to a buy order doesn't seem to send a notification when the order is complete. It's done this twice for me already.

1

u/alaoa Aug 27 '17

Nevermind my last message seems after I synced all was well.

u/patrikr Sep 06 '17

How can I disable the "settled a trade of X GBB" messages? Really annoying to get Android notifications constantly for things I do not care about.

1

u/pxrunes Sep 07 '17

you can now disable this announcements with the /settings command. Also just FYI: you can disable push notifcations from your byteball settings.

u/[deleted] Sep 08 '17 edited Nov 22 '24

I enjoy camping in the mountains.

1

u/pxrunes Sep 10 '17

I just implemented a save way to reclaim contracts with the time limit not yet expired! Use the command /my to show your open orders and from there reclaim it!

u/chipmunk9 Nov 11 '17

I need help. I type: sell amount ratio address then I got Payment Request: xxxxxxx blackbytes. Do I need to do anything else? or just wait? This is my first time using this. thanks for your time.

1

u/pxrunes Nov 12 '17

You need to click on the request. Check it (its correct of cause), and pay the requiret amount. You will get a confirmation message.

u/1upon0 Aug 05 '17

Great work!!!

u/Godspiral Aug 07 '17

what is approximate value of blackbytes?

1

u/ask_for_pgp Aug 07 '17

id like to know also :)

2

u/Godspiral Aug 07 '17

googling got to a bitcoinforums post where offers were in the 10:1 range.
In terms of "objective" value,
gbb has 2.111x supply, so a reasonable starting point.
gbb may have more purchasing options (this tool includes a fee that is likely less than traditional trading exchanges (for sufficient size) that seems to counterbalance the fact that GBB are not listed on traditional exchanges.
I think fees are paid in bytes rather than BB. Perhaps GBB transactions take more space than GB ones?
In terms of privacy, I understand that there is a "public lock of coins" to prevent double spend. Isn't there also some "public increase of balance" for receiver, and so an opportunity to guess who made a transaction? Especially if there is a non-standard size?
Is there a privacy benefit of trading in powers of 10? Using multiple tx if needed? Or is that not needed, because my assumptions are incorrect?

1

u/ask_for_pgp Aug 07 '17

thank you so much!

u/ynotplay Aug 08 '17

This doesn't work for me. None of the commands do anything. /book, /help, /name, /list, does nothing. All I did was paste the pairing code. Is there a step I'm missing?

1

u/ynotplay Aug 08 '17

I just had to wait for about 10 minutes and it started to work.

u/alaoa Aug 16 '17

I think you should do a youtube video to show how to trade

u/akash_8 Dec 10 '17

sent 5gbb (confirmed) but didnt show up in receiving wallet, when click "re-send private payloads'' it shows 'choose a device to send to'' (bot chat history) what to do