BlockTrades has added a new feature to our cryptocurrency bridge in the BitShares web wallet called “Internal Conversions” that allows you to quickly convert from one cryptocurrency to another. It takes about 6 seconds: two bitshares blocks at 3 seconds per block (one for when you send the input coin and the second where we send you the output coin).
Note that this is for converting between native coins on the BitShares blockchain such as BTS, OPEN.BTC, OPEN.ETH, OPEN.DASH, OPEN.STEEM, etc. But you can later withdraw any of the OPEN coins to their native blockchains via the Withdrawal page, as these are IOUs backed by the OpenLedger exchange, so it's actually a very quick way to rebalance your crypto portfolio.
Also of interest, the bridge supports exchanging to and from several “USD equivalent” coins: SBD (Steem-backed Dollars), OPEN.USD (Redeemable from OpenLedger), OPEN.USDT (Redeemable from Tether), and BitUSD (Bitshares-backed Dollars). This can be a handy way to hedge your volatility risk.
We designed the GUI for the Internal Conversions to be simpler than even our normal web page. Literally all you do is specify the input coin type, the output coin type, and the amount you want to convert. There is no need for memos or deposit addresses or any of that complexity. Literally the most difficult step is creating your BitShares account and depositing some initial funds for conversions.
I'm guessing someone else more graphically talented from the BitShares community will follow up with a tutorial post on how to setup an account and use the new Internal Conversions feature, so I'll leave that for them and I'll be sure to upvote it! But if you already have a BitShares wallet (https://bitshares.openledger.info), head over to the Deposit/Withdrawal page, change the Transfer Service dropdown from "OpenLedger" to "BlockTrades", select "Bridge" if not already selected, and you will see the "Internal Conversions" user interface at the bottom of the page.
I have created a guide for anyone that wants to see how to use the features outlined in this post.
I have also linked some great videos on how to get started with Bitshares and fund your account.
You can find the guide HERE
Aawesome !
I'll check it out now :)
Link for those that don't know what thsi is about.. Check it out.
https://blocktrades.us/
This is a new interface specifically designed for the BitShares web wallet: https://bitshares.openledger.info , so it's not available on our primary web site. Because this interface is directly integrated into the BitShares web wallet, we can make conversions easier than we can even make possible via our normal web site.
Ah ok, that explains it.... thanks for the link :)
Looks like your accounts are holding quite some % of BitBTC, is it possible for others to convert some OPEN.BTC to BitBTC?
I didn't open up this pairing because the liquidity seemed too low.
That's why we need you more.
Blocktrades for president!
I'm not that good at things like this as my new posts states, wish I could understand all this but it's way over my head.Hopefully one day Ill get there :)
Yeah, I wrote this from a bit of a technical perspective. The gist of it is, we've created a new way to quickly trade between a bunch of different forms of digital money that you can use from the BitShares web wallet, with less hassle than any other way I currently know of.
Its all new to me, I need to revise I think, there's so much to learn :)
It's worth it, Karen. One step at a time, even if that's slowly, you'll have a massive headstart on 99.9% of the world.
I feel left behind as if I've missed something. It was a massive shock when I joined here
Don't compare yourself to Ver, Shrem or Antonopoulos.
Compare yourself to pretty much everyone else alive :)
Cool. Blocktrades has pretty much become my main method for buying Steem and Steem Dollars already. I will need to test this out!
@blocktrades, i have no idea what you're talking about, but it sounds bad ass.
That sounds simple enough for even me to use and so I shall - as soon as I get some money available :)
Thank you!
Upvoted and Resteemed!
So much to learn but many of us are trying, like the emails last week with you said LOL.
Thanks for the update.
How do I get this wallet?
Go here: https://bitshares.openledger.info and create an account.
Ok, just seen I already have one. Who runs this wallet? It is something to do with taskmanager?
No, it's run by OpenLedger. taskmanager has his own UIAs on the BitShares blockchain, though, I believe.
I have the BitShares2-light wallet Version 2.0.160524b on my iMac. Do I need to upgrade it for this?
you can get the latest version here https://bitshares.org/download/
Yes, this is currently only available on the web wallet. I don't believe the light wallet has been updated yet, but hopefully it won't be too long.
Thanks!
Great work! looks really great, shame it is buried away in the interface and not on center stage, but given the usefulness of this feature i'm sure people will learn where to find it.
i can confirm that the light wallet has not been release with the update yet, but i can happily say that @svk has just submitted a worker proposal which is just about approved so with any luck a new release of the light wallet will be out very soon.
Yep, I voted for his worker proposal, I think any Bitshares holder should vote for it.
Agree, i just hit him up on chat i have a few things i would like to see fixed and will log issues via github. he has my vote.
i will also mentioned the worker and the internal conversion feature in my report today too (should be out within 12 hours) . hopefully that should get some more exposure and get him approved and he can start working right away - don't want him to get bored ;)
Sounds great, I'm excited to have him back! Truthfully, I think the wallet is light years ahead of any other crypto wallet out there, but it does still need tweaks to make it fully competitive with some of the centralized exchange interfaces.
This sounds like it will be really convenient. It will be awesome to have this in place as the grow. I novice like me loves to hear of anything designed to create less hassle.
Excellent news. Thanks guys.
i knew it was coming :)
This is great! I hope more people will use Blocktrades and use BitShares. It can be an important part of the overall ecosystem.
If only all STEEM people understood that BTS was the "pre-version" and still lives and has its updates and decent looking ecosystem :)
At some point, I can only guess that the two will be brought closer together somehow into one seamless ecosystem.
This seems quite reasonable. The crypto ecosystem looks to grow much larger and the interplay between various currencies (especially related currencies like STEEM and Bitshares) will likely become both more useful and more necessary.
This is great! I hope to try this out soon! :)
Simply said: AWSOME!!! Thanks for sharing the great news, namaste :)
Спасибо за информацию
It's great to see that you work so diligently to support the continued growth of STEEM (and of course your exchange). We are lucky to have you as a pillar of this community.
What about the cost? Is converting through block trades more expensive than doing it myself on Bitshares or Poloniex? How does it compare? Thanks!
Our pricing aggregates liquidity from multiple exchanges, so we should often offer a better price for quantity buys than you can quickly get from a single exchange. I expect you will generally get better prices through us than trading on an exchange unless you're running your own advanced trading bot.
This is awesome. Now I can use this as a converter to see how much things are worth.
I actually do this too :-)
Thank you@blocktrades for the Information.Good Work.Best Regards
This is just great. Another reason why I should learn more about it! Thanks for sharing it!
Good morning I just made a dollar steem transfer to blocktrades for my wallet bitcoin, but it does not appear in transactions in blocktrades, which may have happened, thankful for an information, thank you.
Fixed now, the transaction got hung up in our system, sorry for the delay.
thanks for listening
Come m8 can you help me get a start on this?
@steempower made a great tutorial on how to use this here: https://steemit.com/blocktrades/@steempower/using-blocktrades-new-internal-conversion-feature-within-the-bitshares-wallet
thanks
I just read that post as I put up my first ever post about DASH a few mins ago!!
Have a good nite.
Thank you for your work. Sounds very good. BTW, what are these downvotes about?
One of the whales, steemed, got upset because someone (not me, I wasn't paying any attention) said something bad about his voting behavior, so he made this announcement:
"steemed [5:25 PM]
Because daned can not help but vote up harassers and vote down vested members of the community, I will now downvote anything high value, circle jerker, and insidery. With full weight."
And he apparently decided this post fell into that category and downvoted it with all his accounts (he has a lot that he mined with). So all the downvotes you're seeing is basically from one ticked-off guy.
Actually, from his quote, I guess Dan and Ned (that's what he means by daned I think) didn't say anything about him, he's just upset they upvoted someone else who said something bad about him.
Somewhat humorously, to my mind, neither Ned or Dan upvoted this post.
Thanks for all your good work promoting steem and making it easier to use through blocktrades and bitshares! Voted you for witness just now!
Thanks for the vote!
Your welcome, happy to support you!
I actually came back here today to read this post again about some of this stuff after our emails during Christmas.
If you have time - I hit 4k posts today and did a post about it here- and have a nice weekend.
https://steemit.com/steemit/@barrydutton/steemit-milestone-i-hit-4000-posts-today-ranks-me-28-on-steemit-short-form-post
I am a big fan of BitShares and this is great news. Based on recent market movements, it appears that investors are starting to see the real potential. I am excited to see what will happen next! Thanks for sharing.
@blocktrades I sent STEEM last night through you to my poloniex wallet and still hasn't shown up. how do I resolve?
Poloniex wallet doesn't properly send memos, so our system wouldn't be able to know what to do with the steem. Please send an email to support@blocktrades.info with details about the transaction so that we can fix it.
good night blocktrades, best regards @samsuel, I've seen all your posts, you are so amazing, therefore I want to follow you, because I just started in this steemit, your post is very useful hope you can help teach me about deeper again know how to use steemit so that we become extraordinary like you, I salute with you, a little of me. best regards @samsuel