Show HN: Birtchex - A New Bitcoin Exchange | Hacker News Reader

Show HN: Birtchex - A New Bitcoin Exchange

birtchex.com

4 pointspdeuchler10 comments

Open articleView on HN

Is this a landing page only or will I actually get an invite?

Which database setup are you using?

Where are you hosting?

What is it costing you to get approved by FinCEN?

Did you write the trading engine from scratch?

You are not listed on Bitcoincharts.com.

Good luck, I'll check out the platform when I get an invite. Andreas from justcoin.com.

While just a landing page, it is fully functional. You will most certainly get an invite when we launch :)

We're using Amazon AWS along with a stack of nginx, Python, and Go.

The largest expense with regulation is lawyers and CPA's, which vary widely based on who you use. We aren't skimping on the important parts though.

The trading engine is built from scratch, however it is modeled after the LMAX architecture[1] and takes a lot of inspiration from the same systems the NYSE and NASDAQ use. We're not trying to re-invent the wheel, just bring some high quality racing slicks to Bitcoin.

We are not listed as we are currently not taking any outside trades at the moment. Once we open up the platform we plan on being listed on as many sites as possible.

Appreciate the interest, hope I answered everything to your satisfaction!

edit: forgot the link!

[1] http://martinfowler.com/articles/lmax.html

Certainly. I'm looking forward to the invite! Do you have any API docs at this time?

Not right now, but I can tell you that we plan on offering both a REST and a websocket API.

OP and co-founder here, happy to answer any questions you have.

Are you planning on adding PayPal integration?

Unfortunately PayPal is currently not on our roadmap, due to the prevalence of chargebacks and hacked accounts.

We will offer direct bank account transfers and Dwolla, however, both of which can be just as easy as PayPal.

    Can I convert my money to bitcoin anonymously?
    Which payment gateway do you support, or do you outsource that?

Currently we do not have any plans to do anonymous deposits. While I can understand that this causes a problem for a lot of people in the bitcoin community, regulation and laws make it very difficult to make this possible.

Hopefully once we get established and the government isn't breathing down our collective necks we can make it easier to do anonymous trading, but the seizure of MtGox's funds has made it clear that for right now you have to play ball.

What are you going to do to make people not worried about counter-party risk?

When you trade options on an exchange the obligations fall on the counter-party, then clearing firm, then clearing house, then exchange.

My concern would be that I would buy some 200 strike calls, then over the course of a few days bitcoin goes to $2000 and both the counter-party and the exchange go bankrupt.

Or alternatively I buy a bunch of 100 puts and bitcoin goes to $.10.

Reply on news.ycombinator.com