I suggest you ...

Have dynamic exchange rates

When placing a level, you don't know when it's going to get filled. The exposes you to huge amounts of market-risk given the volatility of BTC/currencyX. It would be very helpful if you could specify that a transaction should happen at some dynamic market rate, eg the rate could be taken from mtgox at the time the agreement happens, or possibly at the time the final transaction is made, or maybe the average mtgox rate over the past 6 hours.

Without this, one of the following happens:
1. You get screwed by the market moving against you between the time you post your order and the time someone fills you
2. Your level will be way off from the market rate and no one will want to transact with you
3. You have to update your levels very frequently to keep up with the market, which is a bit of a drag.

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    J DearJ Dear shared this idea  ·   ·  Admin →

    2 comments

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      • James DearJames Dear commented  · 

        if you wanted to allow pricing flexibility, you could let the user specify a basis, eg
        "I'll buy at MtGox plus $0.55" (for someone keen to buy) or
        "I'll sell at MtGox plus £0.25" (for someone looking to profit)

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