I have two questions that can also be suggestions to eXch.
1. What happens if there is only a partial amount in the reserve of the coin/token I want to buy? For instance, I want to swap $2,000 worth of BTC for ETH, but when it's time for the swap, there is only $1,000 of ETH left. Will the exchange swap the $1k and return half of my BTC or will everything be returned to me? You could add an option where the user could opt in to receive less than what they intended to swap if there isn't enough in the reserves. Then, if I am fine with getting a lower amount, I could get it.
2. Could you create a waiting list for swaps that users could opt in for if they wanted? For example, there is no XMR left, but I opt in to be placed on a waiting list for x amount of hours. I deposit the coin I wish to swap for XMR and then I wait to see if the reserves will fill up? When they do, I get my XMR 2/6/12/x hours later if my turn comes.
Topic: eXch - instant exchange BTC / LN / XMR / LTC / ETH / ERC20 - page 45. (Read 30738 times)
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It's almost like that now. Currently, most of the reserves are in BTC and ETH, with an insignificant share of XMR and stablecoins.
Users are probably dumping their BTC to convert to stablecoins. This might be an interesting strategy, if we see some correction ahead the person can just rebuy. I think I will do something liket that soon.
They are all crap stablecoin blockchains, but if you need to engage with them, then you are stuck using those that are the most popular among them. I have never used or heard anyone use USDT on Polygon or the BSC network.
I've used it on BSC.
Recently, I was somehow forced to use the BSC network, so it all ended with a conversion to a USDT(BEP20) token. Honestly, quite cheap transactions, with almost negligible fees. Around $0.04. After that, Ethereum and ERC20 are tough shit if you ask me.
So, it is probably the reserve will be zero in most cases.
It's almost like that now. Currently, most of the reserves are in BTC and ETH, with an insignificant share of XMR and stablecoins.
I think that, among other things, they gave an explanation related to Monero. They turned to customer-provided liquidity, even though they might lose some profit that way.
So, it is probably the reserve will be zero in most cases.No need to change anything.
This is clearly not a mixer, and you can't send bitcoin to get mixed bitcoin, or send ethereum for mixed ethereum.
If there is something that we learn from last year, then any service is linked to a hack and does not cooperate with the authorities or delete user data, then it will be on the government's radar, the easiest accusation that they are running an unlicensed platform and I think that what happened with Fixedfloat is a good reminder. This is clearly not a mixer, and you can't send bitcoin to get mixed bitcoin, or send ethereum for mixed ethereum.
This is one of the worst crap stable coin blockchains, and fees are often higher than on all other alternatives, unless you stake trx shitcoin.
They are all crap stablecoin blockchains, but if you need to engage with them, then you are stuck using those that are the most popular among them. I have never used or heard anyone use USDT on Polygon or the BSC network. It's mostly the asset on Tron followed by the token on Ethereum. And the fees are cheaper on Tron. Even the source you linked to shows it. I never had any staked TRX, and the fees I needed to pay for USDT transactions were either 13 or 26 TRX. At the time I last used it, it was between $0.70 and $1.40/1.50. It surely costs more now with all cryptos up in value. But yeah, if you have some staked TRX, you can use the energy it produces
and convert it into fees when engaging with smart contracts, which token transactions are. 
Is there any intention to update it? especially if the service is misused as a mixer?
No need to change anything.This is clearly not a mixer, and you can't send bitcoin to get mixed bitcoin, or send ethereum for mixed ethereum.
I know that the eXch representative has said no to including the TRC-20 version of USDT on the platform, but I am still hoping that will happen. Out of all the USDT variants, I use that one the most. DAI is, obviously, the best if you have to engage with a stablecoin, but I haven't met many people that want it as much as they want USDT as long as they have a choice.
This is one of the worst crap stable coin blockchains, and fees are often higher than on all other alternatives, unless you stake trx shitcoin.It would be much better to see L-BTC and L-USDT on liquid chain, and admin already confirmed they are working on it.
Here is comparison:
https://gasfeesnow.com/
https://liquid.network/
I know that the eXch representative has said no to including the TRC-20 version of USDT on the platform, but I am still hoping that will happen. Out of all the USDT variants, I use that one the most. DAI is, obviously, the best if you have to engage with a stablecoin, but I haven't met many people that want it as much as they want USDT as long as they have a choice.
You mentioned in a previous reply that this service is barely making profits, and I see that Monero reserves are decreasing quickly. To what extent will the rise in Bitcoin price affect the XRP --> BTC service, assuming that Monero does not react positively to the speed of the rise in the price of Bitcoin and that you are barely making profits?
I think that, among other things, they gave an explanation related to Monero. They turned to customer-provided liquidity, even though they might lose some profit that way.
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.
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.
Some articles began describing this service as an Ethereum mixer, and I think the reason for that is the Privacy policy in the terms of use[1]. Is there any intention to update it? especially if the service is misused as a mixer?
You mentioned in a previous reply that this service is barely making profits, and I see that Monero reserves are decreasing quickly. To what extent will the rise in Bitcoin price affect the XRP --> BTC service, assuming that Monero does not react positively to the speed of the rise in the price of Bitcoin and that you are barely making profits?
[1] https://exch.cx/tos
Quote
We do not collect any metadata from customers. We have IP address logging disabled on all of the following end-points of our service: reverse-proxies, caching servers and backend servers (API). Exchange-related information such as from/to/refund addresses of operations are deleted from our service after 15 days, except when users decide to remove exchange-related information by themselves by pressing a "Delete data" button available within complete exchange operations, immediately making all the exchange operation data unrecoverable and not available for further extraction/querying.
You mentioned in a previous reply that this service is barely making profits, and I see that Monero reserves are decreasing quickly. To what extent will the rise in Bitcoin price affect the XRP --> BTC service, assuming that Monero does not react positively to the speed of the rise in the price of Bitcoin and that you are barely making profits?
[1] https://exch.cx/tos
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Here's the first raffle !
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Friends, I have great news for you!
In the very near future we will launch regular weekly raffles, by participating in which you can try your luck to win a custom Cryptosteel!
In the very near future we will launch regular weekly raffles, by participating in which you can try your luck to win a custom Cryptosteel!
Quote
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Friends, I have great news for you!
In the very near future we will launch regular weekly raffles, by participating in which you can try your luck to win a custom Cryptosteel!
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Quote
I sincerely hope theymos will read this and consider it.
There's a much better chance of that if this would be posted in Moving to Cloudflare.Thank you for the link.
I've posted a quote from OP's message, with the hope that it might lead to something...
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
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. Imagine that solana crap is ranked so high and they literally had more downtime than old dial-up internet connections
I sincerely hope theymos will read this and consider it.
There's a much better chance of that if this would be posted in Moving to Cloudflare. --snip--
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.
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.
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.
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.
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.Realistic price should be much higher than now, and most shitcoins should have lower or no value at all.
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.
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.
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.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.
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.
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.
Maybe you should consider working directly with miners to get more monero coins.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.
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%
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.
Agreed.Who are those people buying and holding privacy coins on a KYC exchange anyway?
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
Monero price might be a big opportunity? Or it is just doomed because bureaucrats don't like we to have it?
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?
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