Dumb question time

Ok, stupid question. I see that bisq/bitsquare/whatever does have api, but does the API charge any fees? I am very very new to the whole crypto thing to begin with (like, literally 2 weeks new, I am still wearing a very prominent noob hat). However, I am also a developer. So, naturally I’m not going to sit here and trade mindlessly if I dont have to :wink:

I have started out on gdax/coinbase. It had an excellent API and my little buy low sell high bot has just made an absolute killing with all the volatility of going up and down so fast. The problem is that because my bot puts in trades right at the price it wants to make a sell/buy, it has to buy a “maker or taker” fee, whatever the heck that is. It’s still been making a killing even with that fee, but I’m a perfectionist, why pay the fee if I dont have to? :slight_smile: So my question here is, if there is an API, what exactly are the fees for using it? Would this exchange support such robotic non-sense?

And for those wondering, “killing” in my book is a slow progressive 4% increase in total coin base and not USD in my bank account. I’m not talking doubling money because I intend to “set it and forget it”, kinda like a savings account. 4% is better than any savings account I can get and I intend to never “cash out” until I’m old and gray OR it becomes obvious that crypto currency is on it’s way out in favor of some new technology. So with this method of thinking, I could care less if a currency goes up or down, so long as my total coins (currently LTC) goes up. Which it has been even as the price has been dropping like a rock. It’ll go back up some day. Well, thats the plan anyway.

I’ve been reading a ton about how keeping your coins on an “exchange” is a bad idea so I set out to find something that “wasnt a bad idea” and this seems to fit that bill maybe? IDK maybe I am wrong about that, but that would be another question I guess. Who keeps the private keys, hopefully that is me? With GDAX/Coinbase, they have the keys supposedly “locked away in cold storage”, but I believe that about as much as the sky rains money every Sunday.

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The only secure way to keep crypto is your own wallet generated on safe OS on device not connected to the internet and leave no any trace on HD (like live CD OS,slax etc) .
You need to run such OS loaded into the memory and without persistent changes, so nothing will be written to your HD.
So. you need to know, how to operate OS like this, because they can work on different modes, with or without internet connection and from HD, but you need to know how to create the right one on CD or USB first.
Another thing you need is a wallet generator program.
And you need to run the generator(as “universal wallet generator”) etc… from Live CD or USB OS.
So you can generate secure wallets for different crypto coins as BTC, LTC, DASH and hundreds more as so called"paper,“brain"single” wallets and keep funds really safe,because keys was NEWER expose to the internet and no any trace on any device exist.
Actually, many people who dealing with crypto currency, keep their funds online or with some wallets like Jaxx, coinomi etc and have no idea how to create safe wallets. and how really keep the funds safe.
It is the ONLY way.
keeping funds on any other wallet, always risky. because they connected to the internet and someone always can find the way to get your funds.
Online and even personal wallets where your own keys not safe enough for big amounts and good only for keeping active amount for trade, (some little part of your funds).
The problem is that average user not able to create own safe wallets, and do not understand how the crypto works.
Average user today don’t know what is Partition table, what is NTFS or FAT32,how to boot comp to safe mode and what for etc.:slight_smile:
So, most people, runs they crypto without any idea how to operate it, and when they lost their funds, they start to blame the crypto community instead of first learn how to use it!
So, if someone planning to keep crypto funds for long term, it must be secure wallet, not any online wallets, not any wallets like Jaxx, or full node BTC.
Otherwise, your funds will be gone long before you expected.

I am actually a Linux sysadmin/security analyst and PHP/C++ developer by trade (thats my day job), so running from a Live Linux OS (DVD/ISO in VM etc) with a USB writable partition is completely within my capabilities. I could very easily setup a Virtualbox with a Live DVD, pop in a USB key with whatever I need on it, and then remove it when it’s time to call it quits, or even 2 USB keys if need be (one USB key for LTC private keys and another USB key for mysqlLite DB for my little bot to keep records of its own trade ids).

Im fully capable of securing the keys on my end, but I need an exchange that could work in that fashion. Right now GDAX keeps the private keys and I am smart enough to know thats probably a bad plan and very likely the same reason why most of the forums I’ve read say that keeping large sums in exchanges is bad. But in order to make any real coins in this thing, I will need to be moving a lot of coins back/forth very quickly in a very short period of time. It would be great if I could find something that allows me to do that with keys from MY setup rather than some exchange out there that may be easily hacked and all it’s stored keys given to every mafia boss on the planet.

This is why this particular project peaked my interest, the lack of an exchange keeping my coins is something I need to hear more about. Is that what this does? I keep the keys right on my end (public keys I dont care about, its the private keys I am looking to protect). For right now GDAX has worked as a great proof of concept for what I want to do but it’s not a long term solution and I knew that, hence the search for a GDAX replacement :wink:

There are 2 criteria I’m hoping to find with a replacement exchange:

  1. Lower fees than GDAX OR No fees at all
  2. I get to keep the private keys on MY machine. Just cuz I am that paranoid of my priv keys floating around. I would never give anyone my SSH keys and those dont even have any monetary value to them, I sure as shit wouldnt want my priv keys with monetary value in anyones hands but mine.
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Private keys are Private here :slight_smile:
API is being worked on currently i believe.
Install the software and check it out!

I am finally running a bitcoin full node to maximise my privacy with bisq.
Please see this post, https://bisq.network/blog/privacy-in-bitsquare/ (Privacy in the bitcoin network)

I see, so I installed it to see what this is and it’s more like an Ebay for bitcoins than an automated exchange. For my needs I’d need 100s of thousands of others all trading/selling with 1000s of orders going through each second in order for my plan to be worth anything. Having to approve things by hand is the complete opposite of what I was trying to accomplish. It seems like what I’m looking for just doesnt exist yet or is not yet large enough to support what I need.

yeah i guess censorship resistance is not that important i guess.

It’s still very early in crypto infancy, so I’m not surprised that what I’m expecting doesnt exist yet. Although I think that it could very well be born in the coming years, probably out of this project or one of the other two like it (Localcoin/Paxful). Once the manual authorizations are removed (or at least configurable to on/off), it will probably gain popularity. Humans are by nature extremely lazy beings and look for the path of least resistance regardless of how many bears/wolves are in the woods visit the trail they are traveling. Eventually some will see the bones of past victims on the ground and look at the map for a new route. I am just one of those that knows better than to go into the woods at night and dont really need a map to tell me where to go to be safe :wink: The roads I seek do not yet exist. Either I chop it myself, or lazily wait for someone else to do it. I’m the lazy type lol.

Bisq is not ready for such an automated quick trades yet, but it should in the future.
As for the fees, the fees in a decentralized exchange is unlikely to be higher then the centralized exchanges, but you never know what business model centralized exchange could have.

Bisq is most private and most secure due to it’s decentralized nature. Bisq has an internal wallet for your bitcoins (or other base currency) and those keys are only written on your device. During a trade your funds are locked in a 2-of-3 multisig of which you have one key on your device, other is owned by the other trader, while the third one belongs to the arbitrator and is used in case of a dispute.

Keep your eye out on Bisq as it will be a good alternative for your needs when the time comes. Until then you can use Bisq for your personal trades and as such provide liquidity on the exchange, this will help out the growth of Bisq and get us sooner to our goals.

Of course, I never mean that author of this post not experienced with computers.
It is obvious, that person asking about API, not even advanced user, but knows programming.I just talk about the situation in general.