imcex.com - new exchange for NMC, BTC, LibertyReserve

[James.Freeman]

Hello

We've created an exchange https://imcex.com for BTC, NMC and LR.

We have finished private beta-testing and from now we'd like Namecoin community to help us improve the service. Some notes concerning beta-testing and exchange itself can be found here https://imcex.com/news/28.

We would really love to get some feedback - either negative or positive. Thank you for you attention and hope to hear from you back.

Feel free to ask me any questions!

[MaxSan]

Looks nice. Looking forward to testing when i get some coins i want traded

[James.Freeman]

Hello everyone!

It's been some time since my last post about https://imcex.com
I'd like you to know that we've updated imcex.com with improved security: login pin (two step authentication) and master pin support. Right now we're also working on mailing events that will keep you informed about operations on your account.

FOR REGULAR CLIENTS:
One of the features that I'd like to introduce right away is the Secure Push trading (or give it a better term if you will).
Regular trading scheme looks like this:
1. Login to exchange
2. Deposit funds
3. Create orders and WAIT
4. WAIT
... WAIT
5. Withdraw funds

Considering recent events at bitcoin world - the security is pretty much of an issue for now. To avoid redundant risks for our clients we've developed the following scheme:
1. Login to exchange
2. Create orders and wait for matching orders notifications
3. Deposit funds and get your orders executed
4. Withdraw funds
Going this way requires you to trust your funds to exchange ONLY WHEN NEEDED.

You don't have to worry about how safe your funds are at exchange account rather than in your wallet. Keep them in your wallet until an actual trade is to happen.

If you got any questions on this - I'm open to answer any of them. I hope you will enjoy our offer.

OFFER FOR THE POOL OWNERS:
We are pretty close to going out of beta into release. Considering this, we've got some plans on future development and one of the issues is the special offer for pool owners. If you are the one - please let me know that you are interested - drop a message here or to freeman@imcex.com.
We would really love to discuss the issue in private with everyone of you. Our offer will help you receive additional income from your pool and (in general) may help to improve the liquidity of Namecoin market.

Thank you for your time, for your feedback and welcome to https://imcex.com!

[doublec]

You don't have to worry about how safe your funds are at exchange account rather than in your wallet. Keep them in your wallet until an actual trade is to happen.

Doesn't this mean people can create orders with funds they don't have? So they can manipulate the market into thinking there's big buy/sell walls for example.

[James.Freeman]

]Doesn't this mean people can create orders with funds they don't have? So they can manipulate the market into thinking there's big buy/sell walls for example.

It does for now, but volumes are low for now and that's really not an issue. When it does become a problem - fake orders will be kept hidden from public until they get backed up with the real money. There is a number of other solutions that can easily be applied to this.

[what2]

]Doesn't this mean people can create orders with funds they don't have? So they can manipulate the market into thinking there's big buy/sell walls for example.

It does for now, but volumes are low for now and that's really not an issue. When it does become a problem - fake orders will be kept hidden from public until they get backed up with the real money. There is a number of other solutions that can easily be applied to this.

This MUST be addressed ASAP, I'm sick and tired of trying to have orders executed just find out half the orders are fake. As far as I'm concerned this IMCEX exchange is dead and has NO REAL VOLUME.

[James.Freeman]

This MUST be addressed ASAP, I'm sick and tired of trying to have orders executed just find out half the orders are fake.

We've added special marks to orders that are not backed with enough funds. We are also close to introducing email notifications to owners of such orders.

As far as I'm concerned this IMCEX exchange is dead and has NO REAL VOLUME.

Well there could be another situation: we could have used our customers' funds to create our own orders and manipulate the market. This would create the volume you want but will put to risk our customers' funds.

We've chosen NOT to do this. Is it really that bad?

We are running the IMCEX.COM Bitcoin exchange. For more than a month our exchange is running and serving your requests.
I'd like to give you an operational status update by the end of October '11. I thought those numbers might be interesting to you.

80 users registered so far.
They issued 338 orders, 45% (145) of them have been actually traded with real funds.

Our customers have traded:
- 90 BTC
- 2250 NMC.
- a small amount of other currencies (LREUR, LRUSD).

There have been about 70 deposit requests from our customer and 36 withdrawals in different currencies. The average manual handling time of the withdrawal is around 3 hours.

Our customers generated 49 support tickets:
- 25% (13) of them are on different technical issues,
- 75% (36) are regular withdrawal requests.

There have been 2 unsuccessful break-in attempts. Someone has been extensively scanning for web-site vulnerabilities but without any luck.

Our customers feedback gave us a number of ideas that we are going to introduce with future updates. We are always open for any worth ideas from the community.

We'll be glad to see you at https://imcex.com!

[what2]

wow up and running a whole month & 90 whole BTC's exchanged! That's incredible!!!! So any idea why some one would really bother at all to break in to your site, there's nothing to steal and no volume. BTW you uservoice place is getting about as much action as your exchange, all those great ideas are piling up fast

please everyone go check it out......

http://imcex.uservoice.com/forums/

yeap crickets....



gl with you " exchange "

[what2]

]Doesn't this mean people can create orders with funds they don't have? So they can manipulate the market into thinking there's big buy/sell walls for example.

It does for now, but volumes are low for now and that's really not an issue. When it does become a problem - fake orders will be kept hidden from public until they get backed up with the real money. There is a number of other solutions that can easily be applied to this.

So granted the insufficient funds indicators are finale present, the visible to the public bogus orders make your site look pretty ridiculous.