BREAKING: Bittrex Crypto Exchange Just Released Big Changes EFFECTIVE IN PART TODAY!! -- To Your Trading Accounts... Details Here. Another Use Case for Bitshares and DEX's!!!
Another Use Case for Bitshares & DEX's!!!
I have ITALICIZED and ENLARGED the key areas for you to be able to quickly sort the info at a glance.
Unedited other than that, here is the email that was sent out and I say again, this is effective TODAY!!
Govern yourselves accordingly Crypto Family!
Dear (Barry)
This email is to communicate policy changes for placing orders on Bittrex.
As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
Removing stale orders:
--
Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
Raising the minimum trade size:
--
Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi. We will also require a minimum trade quantity on a per market basis.
Creating minimum tick sizes:
--
Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market. The target is to have minimum trade sizes that are near 0.1% of the current price. The current minimum tick size is 1 Satoshi. For example, Ethereum trades at 0.0577 Bitcoin. Bids and asks can only be placed in 0.0001 increments. So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
A general statement about market manipulation tactics:
--
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.
For more details around these policy changes, see this article.
https://support.bittrex.com/hc/en-us/articles/115003004171
Thank you,
Bill Shihara
Chief Executive Officer
Super Easy/Fast Picture Resizing at: http://www.picresize.com/
Main Image Source
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Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
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Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
This has really upset some people but I do not force my opinions on others, or need to communicate every detail of my life or issues, most people do not care anyways. I invested around 10 hours or more a day on Steemit most of my first 13 mths here, I just do not have that time in my life right now, and that includes for replies and voting/curation.
I have done my best, sorry if you do not understand like some are clearly having a problem with. It's a blogging platform, and I will do my best at everything, and to keep blogging.
Carry On.
Another Use Case for Bitshares & DEX's!!!
I have ITALICIZED and ENLARGED the key areas for you to be able to quickly sort the info at a glance.
Unedited other than that, here is the email that was sent out and I say again, this is effective TODAY!!
Govern yourselves accordingly Crypto Family!
Dear (Barry)
This email is to communicate policy changes for placing orders on Bittrex.
As you know, Bittrex is committed to providing fair and efficient price discovery and these changes are designed to improve the overall trading experience on our markets.
Removing stale orders:
--
Effective today, Bittrex will be removing orders that are older than 28 days. As we’ve communicated in the past, many of these orders have no reasonable expectation of being filled and clog the order books.
Raising the minimum trade size:
--
Within the next 2 weeks, the minimum allowable trade value for orders will go from 50,000 Satoshi to 100,000 Satoshi. We will also require a minimum trade quantity on a per market basis.
Creating minimum tick sizes:
--
Within the next 2 weeks, on a per market basis, we will be instituting minimum tick sizes that are based on the current price of the market. The target is to have minimum trade sizes that are near 0.1% of the current price. The current minimum tick size is 1 Satoshi. For example, Ethereum trades at 0.0577 Bitcoin. Bids and asks can only be placed in 0.0001 increments. So the next levels allowable levels on the order book will be 0.0576 and 0.0578.
A general statement about market manipulation tactics:
--
Bittrex actively discourages any type of market manipulation, including pump groups. Consistent with our terms of service, we will suspend and close any accounts engaging in this type of activity and notify the appropriate authorities.
For more details around these policy changes, see this article.
https://support.bittrex.com/hc/en-us/articles/115003004171
Thank you,
Bill Shihara
Chief Executive Officer
Super Easy/Fast Picture Resizing at: http://www.picresize.com/
Main Image Source
Thanks for reading, have a nice day.
If you liked this blog post - please Resteem it and share good content with others!
--
Some of my recent blogs:
--
Stock Images in most cases unless noted: via Giphy.com , Funny or Die.com / Pixabay.
Sources usually on image or credited if I cannot find it on an image, but sometimes I forget, sorry if this bothers anyone.
If you feel my posts are undervalued or you want to donate to tip me - I would appreciate it very much.
--
LiteCoin (LTC) - LKdsnvSXk9JW99EiNicFMGKc1FXiBo9tUE
Ethereum (ETH) - 0x3Ad69Ff057C9533ca667B2d7E3E557F5eeFd4477
Ethereum Classic (ETC) - 0x5ab2b08d4ce8d454eb9d1ecc65c6d8b0c5f9784c
EOS (EOS) - 0xD37bEFf5bf07E3aa432de00cE0AaA8df603A4fB0
Bitcoin (BTC) - 18J6RRuzX4V7b2CDbx7tWZYNBLkkGWsvWX
DASH - XgZvsvSZgPkNbmGbRhc3S1Pt2JAc7QHwiS
PIVX - DA3azxQqJiX9t7EviuacpamfNhMi2zGAUh
Monero (XMR) - d8ecb02c09f70ec10504b59b96bc1f488af28b05933893dfd1f55b113e23fbff
Stratis (STRAT) - SNsJp6v1jXvKWy4XcXSXfNQ9zhSJJppJgv
ZCash (ZEC) - t1aCPEYELkGaf3GtgGTiCEDo7XfPm4QEwmL
Please note -- I will have limited internet access for awhile -- so PLEASE do not be upset that I cannot reply right away, or to everyone. I am dealing with some changes, and will have limited time online and will be happy if I get a few blog posts up a week.
This has really upset some people but I do not force my opinions on others, or need to communicate every detail of my life or issues, most people do not care anyways. I invested around 10 hours or more a day on Steemit most of my first 13 mths here, I just do not have that time in my life right now, and that includes for replies and voting/curation.
I have done my best, sorry if you do not understand like some are clearly having a problem with. It's a blogging platform, and I will do my best at everything, and to keep blogging.
Carry On.
@barrydutton I think it makes sense to increase the minimum trade size. 100’000 satoshis is around $8. Having a minimum tick size of 0.00001 makes sense. That’s 80 cents, which is nothing for a digital asset worth $8000. It’s one-hundredth of a percent.
As for the stopping of market manipulation techniques, I am in favour of this proposal, although it will in practice be difficult to prove. Lots of shades of grey to judge.
As far as I can see, those who “pump” do so at their peril, because someone, like me, may decide to take the artificially good price. It’s doubtful that any pump can survive long before the price difference is arbitraged away.
I can see that with the introduction of bitcoin futures planned for December on the CME, and probably at the same time on the CBOE, there could be a pump issue if the Bittrex price is used as part of the cash reference rate. In that case, someone could pump the price on Bittrex in order to get a better price on a much larger CME or CBOE futures trade or cash settlement. This does not seem to be a risk - yet, because Bittrex does not seem to be part of the reference price.
The CME says “Several bitcoin exchanges and trading platforms will provide pricing data, including Bitstamp, GDAX, itBit and Kraken.”
Cboe Bitcoin (USD) futures are cash-settled futures contracts that are based on the Gemini auction price for bitcoin in U.S. dollars.
Between Bittrex, Polo and Tether over the past couple months I can't understand why people continue to trade and store so much wealth on these platforms. China is apparently way smarter than the whole western hemisphere, as they are getting into Bitshares and bitUSD/bitCNY in a big way.
I have noticed the last few mths reading some of the good BTS updates, the stats showing that
I am wondering how much that has to do with the form of gov't control they have lived under for so long, leaning on them -- if that has caused the adoption rate it has.
Thanks for stopping by John!
I know you are a BTS elder and community leader so it is pretty cool to see you here on my post.
I find these lines a little bit disturbing. How exactly does Bittrex plan on identifying such accounts?
And secondly, if someone has the funds to do a P&D on any coin, why should the exchange have the right to suspending their account? Is Bittrex now in the bossiness of telling its clients what they should be buying and in what quantities?
I do not even understand how they plan to police such a claim. If suddenly everyone starts buying same coin would they restrict all the accounts? Or is this just to show they are against pump and dump groups? Let's wait and see how they plan to implement this one.
Bittrex is getting a bit more strict. I don't like this trend.
Why not? I think it is healthy for the market.
SBD one of the reasons?
< 10 upvotes >
As a token of gratitude of your important info.
✪
This is great, its good to see regulation starting to be applied to crypto trading. It is great for the market. @barrydutton
stimmt
cryptocurrency is very good currency.
Good Work!!!
Auf und zurück und wieder vor!
Seems like this may be a way of increasing their revenue..the little guy loses with this i think..with maker/taker fees as they are and whales using bear/bull traps like they always have..the learning curve for new traders will be much more costly