For those of you that caught my post yesterday BEWARE Trading 2 Non-Decimal Tokens on the BitShares DEX! π±, I wanted to add this special update. I also incorporated it into the original post, but felt it important enough to release as an "update post" as well, since what are the odds that people will go back to revisit an article they've already read!
So, @jphenderson (TheWalrus) performed a few more tests and discovered that you CAN buy or sell at fractional amounts on OpenLedger, but ONLY if the trade pairs off at an EXACT integer-based ratio (ie. 5 for 4, 2 for 1, etc). For example, he tried buying 4 BEYONDBIT for 1.25 each, and was charge 5 WHALESHARE (4 x 1.25 is exactly 5). When he tried to buy just 1 BEYONDBIT at 1.25, he was charged 2 WHALESHARE instead. Now here's where it gets interesting. It seems this may be a GUI design issue after all, because if you try to buy 1 unit of BEYONDBIT at 1.25, the GUI immediately adjusts the quantity to SELL to 2!
Furtermore, after clicking "BUY", the CONFIRMATION POPUP window DOES let you know the EXPECTED price, as shown below, so you do have an additional chance to CANCEL before CONFIRMING the transaction! It would be nice, however, if there were an additional warning given by the GUI, because if you don't think to double-check that your LIMIT PRICE CAN BE ADJUSTED, you can EASILY forget to check and miss it completely!
Oddly enough, I was able to manual change the "Total" WHALESHARE sell quantity to 1, which then correctly adjusted the price DOWN to reflect a sale at 1 for 1 instead of 2 for 1)!
How does BitShares handle PARTIAL FILLS?
Also be aware that if you have a larger LIMIT ORDER sitting on the exchange, and you receive a PARTIAL FILL, the BALANCE of your order may be REPRICED by the blockchain itself! This is something else I recently learned, as one of my "lowball" bids was just filled exactly this way! I had a BID to BUY 100 BEYONDBIT for 101 WHALESHARE (equivalent to a price of 1.01 each). Here's how my fills played out:
- FILL ORDER sxe-trader bought 94 BEYONDBIT at 1 WHALESHARE/BEYONDBIT
- FILL ORDER sxe-trader bought 6 BEYONDBIT at 1.1666666666666667 WHALESHARE/BEYONDBIT
Notice how even though the order was 100 at 1.01, once the 94 were filled at 0.01 better than my price, the remaining 6 were automatically repriced by the bitshares blockchain to buy at 1.16667 (which would round to exactly 7 WHALESHARE for 6 BEYONDBIT)! So beware, folks, it's a "jungle" out there! However, I must say I'm still pretty pleased with the price I bought them, especially given I had just purchased a few earlier today around 1.43 or so!
Nonetheless, let this serve as another warning to all of you, especially if you attempt to trade two integer assets against each other via bitshares / openledger, to ALWAYS double-check that the LIMIT price shown MATCHES the LIMIT price you entered and expected! I have a feeling that based on this new finding, the current tokens will likely stay the same (ie. not traded in for their "decimalized" equivalents).
However, @officialfuzzy may consider issuing future whale tokens with perhaps 1 or 2 decimal places, if only to reduce the chance of people making such "trading mistakes" in the future (including paying 1 whole WHALESHARE or BEYONDBIT as a transaction fee, instead of using BTS). If that happens, it may also open the door to tacking on that extra 0.1% additional "upvote" you've always wanted! lol
Thanks I was just on my bts account about to buy some whaleshares and I got a warning telling something about paying higher. So your post came right on time for me. Thanks for sharingπ
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glad you found it helpful @road2wisdom, and also make sure you read the last bit I just added as well! and remember that a bit of patience in waiting for a "better price" can sometimes add quite a few extra pennies to your pocket as well! :)
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Yes, it was very helpful and like I mentioned the timing was spot on! I read the last part thank you for sharingπ
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Bro please make a detailed post of how to buy whaleshares with bitcoin or BTS. I asked you this question last time but still I am not getting it, so please help me.
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where exactly are you getting stuck? Check out this post by @eirik, as it's pretty thorough in how to do it all. It also includes a video overview of OpenLedger: STEEMGIG - A COMPLETE GUIDE ON HOW TO USE WHALESHARES!
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Read the whole post. Now everything is clear, thanx for sharing it.
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I would also like to know this information! Thank you !
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I can always count on learning something from you! :D @alexpmorris
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thanks for the kind words Hannah, glad you found it helpful (again)! :)
btw, did you see what I replied to you last time? lol
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Your welcome! :D
No I didn't. I am glad you asked because I have been trying to figure out why I never receive notifications for my replies...you have any idea? :D
@alexpmorris
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I think some apps like eSteem give you more notifications and such, though steem may as well if you didn't block them in chrome (like I believe I did). I usually check my replies though from my profile's "Replies" tab... Here's the direct link to yours! :)
https://steemit.com/@awarenessraiser/recent-replies
Of course, that doesn't let you know of mentions or "shoutouts". I think that's also where eSteem comes in. And if you really want to go "all out" with your notifications, check this new one out!
https://steemwatch.com/ - notifications for steemit by @void
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Yayyy!! Thank you for all of this info :D Super helpful! I will have to look into getting the app soon because I def want to know about "shououts" and mentions :D
You are awesome! :D
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glad you found it helpful! dunno about "awesome", though, I mean, what will I have left to impress you with on my next post?! lol
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hahaha! The stakes are high now!!! :D @alexpmorris
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Wishing you more happy and profitable trading days... followed you, hope to see more valuable posts just like this.
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thank you @arnel for the kind words, and glad you found the post helpful! trading is tough enough without tossing out one's edge on stupid mistakes and market "glitches". hopefully this advice will help others avoid just a few more!
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Exactly... and post like this helps us to be on our toes. Thanks for sharing.
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Thank you so much for sharing this valuable information @alexpmorris! Very appreciated.
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thank you for appreciating it @xredsoulless! :) hope it saves you and others at least a few mistakes, and maybe even a few extra bucks as well!
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Your post is very interesting to follow .. i pray you always given success.
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thank you, I'm glad you found it helpful!
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by alexpmorris from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.
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Thanks for the heads up! :D
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you're welcome ms @michellectv, and watch out where you place those bids of yours! :) lol
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Thanks for the "update" post on the matter, it had me confused/concerned
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I think we're all still a bit confused, but hopefully we're slowly but surely figuring out all the "quirks"! lol
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True, lol.... But at least we're learning it all before too big of mistakes are made
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yeah, guess someone's gotta play the
penguin"guinea pig" every now and then, hopefully save the rest of us from making even bigger mistakes down the road! lolDownvoting a post can decrease pending rewards and make it less visible. Common reasons:
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Hahaha, yep... Let others learn from your mistakes ;p
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Thank you! This will be valuable to many people! Much appreciation!
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glad you found it helpful @crypto-crackhead!
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GOOD
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This post received a 3.7% upvote from @randowhale thanks to @world5list! For more information, click here!
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Thank you for the much appreciated upvote @world5list and rando! :)
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