Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 39. (Read 27792 times)

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Thank you for the link.
I've posted a quote from OP's message, with the hope that it might lead to something...

All true, but it doesn't mean a thing for the price. Not being available on major exchanges and therefore not being available to the many users of such platforms affects the value negatively. Hype and marketing are more important than usability from a price perspective. That's just the reality of the world we live in.

There's a much better chance of that if this would be posted in Moving to Cloudflare.

I sincerely hope theymos will read this and consider it.

Cloudflare is far from being a perfect solution. Even though I'm aware that he's saving us from a lot of trouble, I think an alternative would be great for everyone.
In a previous mixer topic (RIP), we wondered whether there were any credible open source alternative to CF, but unfortunately it would appear to be difficult to find.

What I meant was that they could increase the ask price only, while leaving the bid price as it is. The 5% would then simply be the result of the bid/ask spread.

Yep, while I agree that Monero has much better fundamentals from a cypherpunk perspective, typical altcoin investors search for other characteristics. They see that Solana or Avalanche are described in crypto media (which is full of native advertising, of course) potential "Ethereum killers", but have a much lower market cap, so they buy. Or they invest in memecoins or even BRC-20 tokens

On the other hand, XMR doesn't lose that much value in bear markets. I think on the whole it doesn't perform bad (if we don't take account the Binance delisting-driven dump), it's only less volatile. Solana for example lost 97% in the last bear market. XMR only lost about 80%, not much more than BTC. Tron, which is now hyped again, had its ATH in ... 2018.

Graphene OS is way better for mobile devices, since it is fully open source and updates are released more often, but I agree that any mobile devices are inferior compared to well secured desktop system.

We talked about this several times in forum and we would all like to see good alternative for Cloudlfare.
I am not sure theymos is willing to experiment and break something, but testing is maybe possible with new forum software or epochtalk.

Maybe you should consider working directly with miners to get more monero coins.

They set artificial prices for many coins, not just for monero.
Realistic price should be much higher than now, and most shitcoins should have lower or no value at all.
Imagine that solana crap is ranked so high and they literally had more downtime than old dial-up internet connections  
Meanwhile Bitcoin uptime is 99.98%

Agreed.
Traders for sure, and people who are speculating with price and don't care at all about privacy.
Note that Binance continues to trade monero futures, so manipulation continues  
https://www.binance.com/en/futures/XMRUSDT

My take: Monero, like Bitcoin, is here to stay. If all centralized exchanges delist it, it only becomes closer to how it's supposed to be: private. Who are those people buying and holding privacy coins on a KYC exchange anyway?

I still think there is something missing here.

Monero performance is very poor. 

Takee a look at this website with historical coins price.
https://coinmarketcap.com/academy/article/evolution-of-top-10-coins-in-cmcs-history

This image is from 2017, after that, monero is gone from top 10 (to be replaced with bsv, bch, tron, whatever)



In 2017, bitcoin was worth 2000 usd and monero 34.
Bitcoin is now worth 52k (26x) while xmr is worth 120 (3.5x)

This means, that if you invested 1 btc in monero  in 2018 you would have now 0.13 BTC.
Nearly 80% loss.

If monero had now a marketcap similar to Tron , it would be worth 6x more  which would lead to 720 usd.

Monero  price might be a big opportunity? Or it is just doomed because bureaucrats don't like we to have it?

That makes arbitrage trading in the other direction possible. Say: buy XMR at Kraken, sell at eXch. I'm not sure what repercussions that would have.

My theory is that the XMR price is been "set" on the big exchanges, but on these platforms it's not a popular cryptocurrency because the typical public of these platform (retail speculative "altcoin investors") prefer generally coins with hype potential and big marketing expenses, and Monero lacks these characteristics. Instead, it has a different public and is traded mainly at lesser known exchanges like Exch, or even via atomic swaps and P2P. But these platforms tend to follow the price of the big exchanges and have no capacity of being "price makers". Instant exchanges like Exch can select the price but they can't diverge that much from the big CEXes (they make money from fees mainly so they need to stay attractive).

So we have a situation where XMR is very popular on exchanges which do have only a very minor influence on the prices which are shown on Coinmarketcap et al, while not being popular at the "price making" exchanges. This could have a damping effect on its price, and also reduces the "hype potential" even further.

A question remains if it would be more convenient for Exch to simply increase their XMR price 4,5% and charge 0,5% fees again, instead of 5% fees and following the Coinmarketcap price, or if this would drive away potential customers more than the high fees? The revenue for the exchange would be the same, but the price would then reflect the scarcity.

Monero has been battered lately after Binance announced that it would soon delist it from their platform. That caused a big downward trend for the value of the coin. Binance is just the latest big exchange that has turned its back on Monero, many others before it did. Privacy coins are constantly under attack by regulators and governments that see them as a bigger threat than stablecoins. Whatever bitcoin is going through, in terms of being called a haven for scammers and thieves, monero is subjected to double of that. All of that has affected the price and overall interest for the coin.

I didn`t know about this XMR scarcity. This is new to me.

What intrigues me about this, is that XMR performance is very poor compared to other cryptocurrency. It used to top in top 10 coins (in marketcap) just 5 years ago, and it is nearly 50th now (46th in time of writing). This means losing much of its valuale compared to BTC.

Something is not right. XMR price is not showing this scarcity. Maybe XMR price will be adjusted in the future?

Thank you for a tip, but due to the nature of our business, our anonymity setup requires a lot more than just a Tor Browser. We do not use Tor Browser to access the Tor network and use a bit more complex solutions such as Whonix Gateway along with multirouted and fully isolated systems.

Cloudflare actually can detect when you use the Tor Browser (yes, that browser specifically) and facilitate access for it, however, when it couldn't determine which setup is used and when it assumes your anonymity is too strong, its detection systems start to be more hostile, specially when you have a Tor exit IP but no Tor Browser detected.

We also do not use mobile devices for this project due to high risks of exposure to possible firmware backdoors implemented during manufacture (this is independently of whether you use clean AOSP builds such as Lineage OS or not). Some desktop platforms are safer in this regards.

I have however decided to use a residential proxy on top of my setup to access this forum from now. Hopefully theymos will consider some better alternative to Cloudflare within next years or at least could re-configure the current Cloudflare settings to facilitate access to users with complex Tor setups. We are also ready to provide technical assistance in Cloudflare-less DDoS protection setup if it's the case.


It should be possible. LN is a relatively new currency added on eXch therefore there might be some issues still which are being fixed. Some wallets still have many issues as well, but that's mostly because most of them use LND instead of Core Lightning as their backend. LND is prone to feature implementation delays, because most people who standartize and implement Lightning protocol are Core Lightning developers.


Thank you for the suggestions! We will definitely add that information.


I have replied to your PM in this regards.


No.


It is back to normal now.



Thank you for your concerns. It's all good and the agent will be fine. Don't worry.


Correct.

We actually provided a proof of good work of that agent and made him a big favor so he can get promoted in the name of the god-blessed United States of America. He should be honored for making that effort and working on Saturday evening.

Moreover, we were not asked to keep this communication in secret and we have a right to disclose any communications coming from the federal agencies to the degree that we find acceptable. This was an unofficial request, but still from a federal entity we have absolutely no relations with.


Answered in full by paid2


Absolutely. We can load 15000 XMR right now and it will be sold in just a few hours at 5%. At 0.5% in less than 1 hour. This situation has repeated many times already.

Some time ago we were using exchanges like Binance and Kraken to acquire XMR liquidity periodically, but we stopped doing so because they became very uncomfortable with us draining so much liquidity from them, because it became an infinite process.

We are now temporarily back to our old model (customer-provided liquidity only), but expect to resume having constant XMR liquidity soon once we acquire a good and reliable source.

Every time I visited the exchange website in the last couple of days, XMR was always at 0. But you are right. It was showing a little bit above 121 when I saw your quote. A few minutes later and it's back to 0 again. There is great demand for no-KYC monero.

Nope the reserves of XMR are accurate, but indeed XMR is often empty. But it is for sure not a secret and well displayed.

For example right now:

I have a question about the reserves you display on your website. My apologies if it was already asked, but this thread has 16 pages, so it's quite time-consuming going through each one looking for the exact thing I want to ask. I have noticed that you always display your XRM reserves as 0, but in the 24h trading volume, we can see how much Monero was exchanged. Is the total Monero reserve a secret or can't the site display it for some other reason? 

Even though it is not from a client, it is still private correspondence. Exposing this email, identifying its origin, unauthorized, is condemnable. And even though we haven't exposed his email, with a little research it's possible to contact him.

I'm not saying he shouldn't share the email he received, just that he should have been more careful.

Yeah except he is an IRS agent, not a customer. He could post the whole email if he wanted to as its not really any sort of breach of customer confidentiality. He did the agent a favor by not leaving the email address in there.

This is really not good. With a little research, you get to the guy.
You should review that. If the image was used on TalkImg, I can try to help if I receive a PM.