First mainnet BTC trade

Do we honestly have to wait until the quarterly report until we finally hear what is now with the BTC integration? :face_with_raised_eyebrow:

Congrats Nash peeps … we know development takes longer that you think sometimes :slight_smile: we’ve had our share of that over here at Guardian Circle. And even after you release, it can take some time to see uptake … we’re only now starting to see this (article from yesterday): https://cointelegraph.com/news/surge-in-crypto-emergency-app-downloads-due-to-covid-19

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There is no secret @fischdenflo, if no major issues are found after intense testing it will be open. So far since the deploy on Friday no major issue has been found.

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even without watchtower nodes scanning mempools … we can be sure of no UTXO double spend attempts after 1 block confirm.

unless bitcoin is 51% attacked and Nash has been receiving reversible bitcoin deposits ?

anyone help me out here ?

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3 confirmations might be a viable minimum but less than that is a little too risky.
see;
https://www.buybitcoinworldwide.com/confirmations
or

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Everything is about probability. 100% certainty can never be obtained in theory; however in practice a certain number of confirmations is considered as 100% certainty (generally 6).

For an exchange, I think there is a subtle compromise to find between risk and user experience.

If 3 confirmations give you 99.99% certainty, and 1 confirmation gives you 99.9% certainty, but at the same time lowering the number of required confirmations from 3 to 1 increases traded volume by 5%, it might be worth it to take the risk.

I guess that’s how Binance achieves 1 confirmation on deposits and 2 on withdrawals.

To add on that approach, mitigating the risk by laddering confirmations depending on the amount could help (ie: $1000 amount requires 1 confirmation, $100k 3 confirmations, $1M 6 confirmations).

In Nash’s case, the equation could be much more complex due to its state channel architecture, but I have absolutely 0 knowledge about that!

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thnxs

Seems inescapable with BTC. U could allow for trading to commence on 1 btc confirm but then lock the channel for both parties until 6 confirms (or whatever) … so many variables … nightmare to mess with it.

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Hi @canesin is it possible to track the BTC contract? :wink:

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Congratulations to your team. Excited to see where this will go. Looking forward to fiat ramps opening up in other regions.

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Congratulations to your team. Excited to see where this will go. Looking forward to fiat ramps opening up in other regions.

Nash is currently working on its own fiat ramp.

Whats the latest here - is BTC trading now fully enabled or still restricted to Level 2?

Anyone with a Nash account, any tier, can now trade BTC.

Here is one of the markets: https://app.nash.io/trade/exchange/advanced?from=btc&to=usdc

Damn, I was hoping you wouldn’t say that. I sent some dust from coinbase and for the last 24 hours+ all I get is this screen when I attempt to move BTC to trading…

Any ideas what I need to do to have this fixed?

You should contact support (via chat also).

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Its the Nash MVP-signature. Its a gift for the most valuable people of the community :pray:

Last I heared team is buzzy digging double-deck-tunnels under the state-channels to speed up balance confirmations in future. It’s a WIP for now.

gotcha, so I need like a million confirmations :smiley:

over 2 days still can’t do anything. This is not good for adoption…

Contact support. Yeah, not good for adoption. First need self sovereign identities and bionic key management over Neuralink-Starlink connected interfaces … 10 more years at least.

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You need to contact support directly on Nash, they will be able to help you. Remember this is not General Availability, so there could be some blips and complications.

I might have the same issue. Will contact support shortly if the confirmation doesn’t change. Moved my BTC from Binance to Nash to finally start trading.

What I do notice is that the transfer status on the funds transfer tab is still pending even though the transaction is already confirmed on the blockchain and is in my personal wallet. @EllisNEX can you check if this is also the case for you?