Realtime


Trading has been permanently frozen for the site wind down.

Frequently Asked Questions

What is BTC Trading Corp?
BTC Trading Corp (BTC-TC) is a virtual currency stock exchange. Using BTC Trading Corp you can experiment with virtual currency investing by purchasing stock in virtual currency companies or you can start a virtual currency company and issue stock to raise funds for your own virtual currency company.

Who is "burnside"?
Burnside is a long time member of his local communities and the internet community dating back well over a decade. He has:
  • started a hosting company in 1997 that is still in operation today.
  • spent over a decade helping operate the National Cristina Foundation. (check them out!)
  • donated for almost a decade to Compassion International. (check them out!)
  • been working on a successful game with a massive virtual economy at a social media company for almost 3 years now.
  • been a wildfire firefighter, combine driver (at ~10 yrs old!), national forest researcher, little league coach and donor, cub scout leader and donor, boy scout leader and donor, summer camp counselor, fraternity treasurer, president of a student run community food company, everquest guild leader (those were the days!), high school varsity football and varisty basketball team member, game programmer (starting with BASIC when he was ~8!), community volunteer and donor for numerous charity projects, and Christian believer for most of his life. (WWJD?)
What's next for Burnside? Even he doesn't know, but hopefully something fun, fullfilling, and exciting.

Why was the site created?
Burnside had an itch to scratch. He had multiple interests culminate at around the same time:
  • Long time curiousity into how financial markets work. (Specifically, he lost a lot of money trading on E-Trade between 2006 and 2012 and wanted to understand how to avoid that in the future.)
  • A new awareness of how much fun and complex virtual economies can be. (from his day job, plus past experiences with Everquest, WoW, EVE Online, Second Life, etc.)
  • An itch to get back to doing some hands-on programming. (The last full game he had written himself was in 1995.)
  • A fascination with crypto currency software, wanting to figure out how it works, and wanting to accumulate some in the process.
Put it all together and with a lot of encouragement from the LTC community LTC-GLOBAL was born. The goal was a virtual community in which it would be safe to learn and grow an understanding of how the various market instruments and players all interact together. Eventually the community demanded a BTC denominated version and thus BTC-TC was born.

Why use crypto-currency? Why not just make up tokens?
Lots of different options were considered. We considered using in-game tokens made out of thin air. But there are numberous arguments as to why that wasn't optimal and probably wouldn't even work:
  • You would have to figure out how to disburse "tokens". Who gets how many? In real life people don't start with the same amount. Do I gift them at signup? (exploitable... just sign up a million times!) Do I let people buy them with real dollars? (ugh, didn't want anything with real money.)
  • If you use tokens, people wouldn't take it seriously, thus the entire experiment and game wouldn't be anything like reality. (ever play monopoly with a 10 year old?)
So it was obvious that we needed something that people had to put time into to get... and something that they cared about, otherwise it was a worthless exercise. Setting something up using WoW gold and/or Linden dollars was considered, but after reading their Terms of Service that was out. (They could seize our character's wealth at any time!) Crypto currency seemed to solve all these problems:
  • People had to put time into getting it. (Most people that had it got it by "mining", aka, running free software on their PC's as a hobby.)
  • It was open source, beta, and distributed so there was no risk of Blizzard or Linden Labs seizing the "bank".
  • It is not backed by anything other than energy and community effort, thus little risk of any government ever deciding it was real money. (Or so we thought...)
  • The open source software even came with accounts, transactions, and provable integrity built in. It was perfect!
What was thought initially was the perfect answer has now proven to have it's hurdles, but we are optimistic that they can be tackled and worst case, an organized shutdown is always an option.

How do I invest in a BTC Trading Corp virtual currency project?
First you'll need some coins. You can mine for coins using Reaper, CPUMiner, CGMiner, etc. (Mining is our recommended method of getting coins, no need to put in real money, and the software is free.) You can also purchase them on a currency exchange such as Vircurex or BTC-e. By the time you have your coins then you've probably figured out how to run the client, operate your wallet, etc. So next you register for an account on btct.co. Once you have your account setup, you can head to the transfer page to get your deposit address. After depositing your BTC, you can then proceed to purchase assets on the exchange. Make sure you do your research before trading your BTC on an asset! Do not ever invest more than you are willing to lose!

Why would I want to invest in a virtual currency company?
To expand your BTC virtual currency fortune of course! Or something more noble, like funding a project for a greater good. Of course, things are not always rosy, you could also lose your coins! It's all part of the challenge.

Is it legal for this exchange to operate?
Most countries require real securities exchanges to register and abide by a very strict set of rules. Obviously we do not have the funding to afford such registration or the overhead of administering such rules. In addition, no single country would allow such an exchange to operate globally. As such we have taken the following approach to the operation of the site:
  • No assets on the site are to be considered real.
  • Nothing is verified. (Do your research!)
  • The use of this site is for educational and entertainment purposes only.
  • If an asset issuer on this site defaults, you have ZERO RECOURSE. (not like you have any recourse in most international BTC situations anyway.)

Is it legal for me to use the site?
Most countries will have no problem with you using a securities simulation site, even one that uses digital virtual currencies. There are multiple examples of virtual goods exchanges in operation around the globe, most of which are better funded in the legal department than this one. It is largely on the backs of these giants that we believe we are in the clear. We also believe that everything digital has some value to someone, and trying to artifically limit what "virtual" or "digital" belongings people are allowed to trade or play games with is simply not going to be possible. Of course, please let us know if you believe your country may have an issue with it and we will post prominent warnings. We do ask that you keep the following in mind at all times:
  • No assets on the site are to be considered real.
  • The use of this site is for educational and entertainment purposes only.
  • If an asset issuer on this site defaults, you have ZERO RECOURSE. (not like you have any recourse in most international BTC situations anyway.)

Why should we trust this site after so many others have failed?
We are different in several key ways:
  • We do not pretend that we are a real registered exchange.
  • We do not pretend the assets on the site are real.
  • We are a real company, registered in Belize.
  • We are transparent. We do not lock you into using our site. Every asset issuer receives a daily email showing who is holding their assets. This allows them to move their virtual operation off the site to anywhere else they might choose.

What happens if your main developer gets hit by a bus?
Arrangements have been made with trusted people for emptying the cold wallet into the hot wallet so everyone can withdraw their coins.

The asset issuers already have all the data they need to move to another exchange.

What happens if all your servers are seized/stolen?
The hot wallet is on the server. We will restore from backup to another server at another site. If we are unable to restore it then we will process withdrawals using the cold wallet at a proportional amount relative to that which was lost in the hot wallet. Following such an event, the dividend will be suspended and profits from the site will go toward repaying the difference owed. Dividends will be restarted as soon as the funds lost from the hot wallet are fully replaced.

The asset issuers already have all the data they need to move to another exchange.

What happens if your servers are compromised?
If the hot wallet is stolen we will patch and repair whatever damage is done in the compromise. Then we will resume operations using funds from the cold wallet. Funds lost from the hot wallet will be replenished over time by suspending dividends to shareholders and using the funds to replenish the hot wallet. Dividends will be restarted as soon as the funds lost from the hot wallet are fully replaced.

The asset issuers already have all the data they need to move to another exchange if they wish.

Do you have any banner media I can use on my site?
Sure. One so far. (248x50)




Do you verify or do any research into the companies listed on the exchange?
No. We do not do any verification or research into the identities of the Asset Issuers or claims Asset Issuers make on our exchange. We are not the SEC. We are simply an exchange. DO YOUR OWN RESEARCH, or pay someone to do it for you. BEFORE you invest. Even under the watchful eye of the SEC, Bernie Madoff, Enron, etc, all made off with billions of USD. Nothing is 100% safe, but if you do your research, you at least know the risk you are getting into. Remember:
  • No assets on the site are to be considered real.
  • The use of this site is for educational and entertainment purposes only.
  • If an asset issuer on this site defaults, you have ZERO RECOURSE. (not like you have any recourse in most international BTC situations anyway.)

So asset issuers can do whatever they want on your exchange?
No. If they violate the Asset Issuers Terms of Service, they will be punished as defined in the terms. Ultimately repeat offenders will have assets seized and be delisted.

What fees are there for using BTC Trading Corp?
We currently have the following fee structure:
Asset Trades using 2FA (Buyer): 0.2% (Trade Value X 0.002)
Asset Trades using 2FA (Seller): 0.2% (Trade Value X 0.002)
Asset Trades not using 2FA (Buyer): 0.25% (Trade Value X 0.0025)
Asset Trades not using 2FA (Seller): 0.25% (Trade Value X 0.0025)

Option Trades (Buyer): 5% (Trade Value X 0.05 -- Note that the listed price currently INCLUDES THE FEE)  

Deposits: Free
Withdrawals: 0 BTC FLAT FEE
             Plus anything bitcoind adds

Transfers (BTC): Free
Transfers (Assets): Free

Issue Dividends: Free

Create a Virtual Currency Asset: 5 BTC
Forced Buyback using 2FA (Asset Issuer): 0.2% (Trade Value X 0.002)
Forced Buyback not using 2FA (Asset Issuer): 0.25% (Trade Value X 0.0025)
Forced Buyback (Asset Holder): Free

Forgotten PIN Reset: 0.5 BTC
Unlock Permanently Locked Withdrawal Address: 0.5 BTC
Our fee structure is subject to change at any time.

Where do the fees go?
Fees go first towards paying the expenses of operating the site. (Server Hosting, SSL Certificates, Development, etc.) All fees that are left over are divided up among the investors of LTC-GLOBAL/BTC Trading Corp.

How many Asks (Sell Requests) can I place on a given security?
As many as you actually own. The My Orders section of the asset's Trade tab will show you how many you own, and how many are currently reserved.

How many Bids (Purchase Requests) can I place on a given security?
As many as you can afford. The My Orders section of the asset's Trade tab will show you how much currency you have available and how much is currently reserved.

What happens if I place a Bid that exceeds what I can currently afford?
The system will attempt to cancel other outstanding bids, in order from highest bid to lowest bid, until you can afford the bid that you are trying to enter. Some have asked why not just turn the bid away? We implemented it this way on purpose, to streamline the process. We assume that when you place a new bid, you are ok with canceling older bids, and this saves you time by not having to cancel them manually.


How do I deposit BTC into my account?
After you've logged in, head over to the Wallet page. At the top of the main Deposit/Withdraw tab there is a box called Deposit Details which will have your Deposit Address(es) displayed.

How do I withdraw BTC from my account?
After you've logged in, head over to the Wallet page. First you must set your Withdrawal Address. It will ask you if you want to make it permanent. This is a security feature, but be careful, it really is permanent. Once you set it, it cannot be changed ever again.

Once you've set your Withdrawal Address, then a new Withdraw box will show up with the option to plug in a Withdrawal Amount and your PIN/gAuth code to execute the withdrawal.

Why is there a withdrawal limit?
We limit our "hot wallet" exposure to theft by using manual withdrawals for larger balance withdrawals. Don't worry, there is no limit on your manual withdrawal. It just takes us a little bit more time to process it because we have to process it from our cold wallet manually rather than from our hot wallet.

How long does a manual withdrawal take to process?
It's almost always less than 12 hours. We process 2-3 times a day most days.


Is it legal for me to manage an asset on the site?
Most countries should have no problem with you using a securities simulation site to operate your virtual business. We however would strongly suggest that if you have the slightest thought that your virtual business might be considered real where you live, that you consult a local lawyer and make absolutely certain that you are not violating securities laws in your locale. As an exchange where the assets are not to be considered real, we would ask that if your virtual business is considered real where you live you would notify us and work with us toward an amicable delisting.

It also has not come up yet, but if new laws are passed categorizing BTC as more than a virtual digital currency, it may eventually be determined that asset issuers may not be able to legally deal with people from certain countries. We'll have to cross that bridge when we come to it.

How do I create my stock, bond, etc?
For the purposes of keeping the accounting separate you'll most likely want to register a new account for your assets. You can have as many accounts as you need, all sharing the same email address. Once you're logged in, you can go to the Market, click the Create Security button and fill out the required form. We'll review your request and approve it, or recommend changes. As soon as we approve it, you'll be able to start selling shares of your asset.

How do I schedule dividends?
On the market page for your asset look for the "Schedule Dividend" section. Click the field labeled Date & Time. A calendar and clock will pop up allowing you to select the date and time you want the dividend issued. Next you plug in how much BTC you want to distribute in the Amount field. MAKE SURE YOU KEEP ENOUGH BTC IN YOUR ACCOUNT AT THE DATE/TIME YOU SCHEDULE THE DIVIDEND TO BE DISTRIBUTED OR YOUR DIVIDEND WILL BE FLAGGED NSF.

Why do you keep sending me an email with a list if all these email addresses and numbers on it?
That's your list of asset holders. We email a CSV out every 12 hours, just in case anything happens to us and you need to continue operations. Note that if you want this data more frequently, simply head to the Asset Holders tab on your asset and you'll see a JSON API link in the top right. Use that URL to script a regular download of the data in JSON format.

How do I force a buyback of all the assets I issued?
First make sure your account has enough coin in it. Then head to the Trade tab on your asset. Down below the order book at the very bottom is a forced buyback interface where you can plug in the per-share amount you are buying the shares back for.

How do I change the contract on my asset?
Unless your original contract states that you can change the contract at any time, we require you to put up a motion, with the full text of the new contract, let the motion run a minimum of a week, and get a majority vote on the motion. (Majority meaning at least 50% of the publicly held shares have to approve.) Once you have done that, you can make a support request to have the contract updated.


How do I use your Open JSON API Endpoints?

The following endpoints can be used without authentication
Description Endpoint
List of all assets and market data https://btct.co/api/ticker
Ticker data for a specific asset https://btct.co/api/ticker/COGNITIVE
Order book data for a specific asset https://btct.co/api/orders/COGNITIVE
Contract data for a specific asset https://btct.co/api/assetContract/COGNITIVE
All trades on the site in the last 48 hours https://btct.co/api/tradeHistory
Trade history for a specific asset https://btct.co/api/tradeHistory/COGNITIVE (optionally add: ?range=all)
All dividends in the last 48 hours https://btct.co/api/dividendHistory
Dividend history for a specific asset https://btct.co/api/dividendHistory/COGNITIVE

Replace out 'COGNITIVE' with the name of the ticker you wish to view. In addition, if you browse to your account page, there are custom URLs there that you can use to view your portfolio and asset holders. Do not share your API key or URL with anyone!


How do I use your API-key JSON API Endpoints?

The following endpoints can be used with API-key authentication. Your API key is available in the Account page.
Description Endpoint
Your personal portfolio
(the days argument is optional, but allows you to look back historically)
https://btct.co/api/act?key=[API key]&days=[X days ago]


How do I use your API-key CSV API Endpoints?

The following endpoints can be used with API-key authentication. Your API key is available in the Account page. All CSV endpoints also work without the API key argument if you are currently logged in.
Description Endpoint
Your personal portfolio https://btct.co/csv/portfolio?key=[API key]
Your complete trade history https://btct.co/csv/trades?key=[API key]
Your complete dividend history https://btct.co/csv/dividends?key=[API key]
Your complete deposit history https://btct.co/csv/deposits?key=[API key]
Your complete withdrawal history https://btct.co/csv/withdrawals?key=[API key]
Bitcointaxes.info compatible CSV https://btct.co/csv/bitcointaxes?key=[API key]


How do I use your OAuth 1.0a Authenticated Trade API?

OAuth can get somewhat complicated, eventually we'll try to break it down as much as possible but in the meantime; The quick start overview:

  1. Make sure you have PHP 5.3 or higher with the OAuth module installed.
  2. Download burnside-exchange-client_0.8.zip, decompress it, and install it in your document root on your webserver.
  3. Edit the config.php in the burnside-exchange-client directory. Adjust the Callback URL as appropriate for your installation, it should point at the URL necessary to reach your installed get_access_token.php file.
  4. Browse to the index.php file to get started, eg: http://mydomain.com/burnside-exchange-client/ -- it should work now in TEST MODE.

Next, to actually make trades with it:

  1. Create your application in the Account page on the API Management tab. This gets you an OAuth Consumer Key and Consumer Secret.
  2. Edit the config.php in the burnside-exchange-client directory. Plug your Consumer Key and Consumer Secret into the configuration of the application you have downloaded and set the testMode variable to false.
  3. Browse to the index.php file to get started, eg: http://mydomain.com/burnside-exchange-client/

Please download the zip and examine the code in the burnside-exchange-client software to see how it all works. Eventually we'll expand on this section. In the meantime, Twitter also uses OAuth 1.0A, and they have some great docs at https://dev.twitter.com/docs/auth/using-oauth.

Management of your OAuth Application (aka Consumer) and/or Access Tokens
Description Endpoint
Create your OAuth application and/or manage your active access tokens https://btct.co/account, then browse to the API Management Tab

OAuth Authentication and Trading Endpoints
Description Endpoint
Request token endpoint https://btct.co/oauth/request_token
User authorization endpoint https://btct.co/authorize
Access token endpoint https://btct.co/oauth/access_token
Trade endpoint (aka API endpoint) https://btct.co/oauth/trade

Actions That Can Be Posted To The API/Trade (/oauth/trade) Endpoint Once Authenticated
Action - POST[act] Description POST Arguments Returns
get_portfolio Your personal portfolio none JSON array of assets held and current orders
transfer_asset Transfer an asset ticker (asset to send)
tsfr_price (approximate value, not required)
tsfr_quantity (quantity to transfer)
send_username (username to send them to)
JSON success/fail message
transfer_coins Transfer Currency tsfr_amount (amount to transfer)
tsfr_comment (40 chars or less, not required)
send_username (username to send them to)
JSON success/fail message
ask_submit Place an ask order ticker (asset to sell)
ask_price
ask_quantity
ask_expire_days (0,90,30,14,7,1)
JSON success/fail message
bid_submit Place a bid order ticker (asset to buy)
bid_price
bid_quantity
bid_expire_days (0,90,30,14,7,1)
JSON success/fail message
cancel_order Cancel an order order_id (ID given in get_portfolio)
JSON success/fail message


Try out burnside's simple PHP example in TEST MODE HERE