Happy Birthday!
Some hours ago, i has done a buy of 29 BTC value of Faircoin in one time,
putting the value of faircoin above 1M $ marketcap
This is consequence of the very big buys in getfaircoin last week. The service was out of reserves, (usually we have bought before we sell, but without reserves this was not the case and i solved selling from my personal reserves to cover the buys)...therefore i had pending very big buys, with that incomes.
Seeing this i decided to do in one time, to be sure that we get all the faircoins to reactive reserves for getfaircoin at the better price possible. I mean that making progressive big buys, for an amount bigger than all the bittrex volume in one week, could generate others traders buying in the ride before me... so i felt more secure, make all the buying in one time..
I think you should consider to automate the process and offer up to date market prices. Since you have to buy the FairCoin Getfaircoin might check the order book of the market and offer the current price required to really buy them on the market including your marging and really buy those then.
On the other hand you probabily try to offer a more or less stable price on getfaircoin as I understand however by doing big actions or misspricing you have to be aware to create a lot instability on the market.
It happend last week that you set the price on GetFairCoin significant lower than the current market. In consequence it looks to me that someone clever bought a lot on getfaircoin and sold them on the market... hench the dump we have seen.
What followed was a price correction. It started to correct to your GetFairCoin price which you then broke again with your 29BTC buy.
You see those 2 markets are not issolated. One will influence the other and your manual action might amplify the price swings.
An automation would help the market to stay more stable and free you from that work.
However you have to design it carefully that it can not be missused. Peoples are clever and automats are dumb.
Just my thoughts as an markt observer on this.
Anyway it's nice to see FairCoin climbing. Still frightens me a bit how fast it climbs.
Would be very happy to see 1 Fair = 1 Euro once in the future ... (preconditioned the Euro still has some value when this happens
Because getfaircoin is not automatic and i delay 24/48 h to send the coins, speculative arbitrage with that is very difficult, and in fact as far i know until the moment the big buys in getfaircoin are for savings...
Otherwise, we are trying to be more conservative in the changes from getfaircoin than bittrex giving more stability to the market.
Therefore is logicial that when there are fast grow in bittrex, getfaircoin is delaying to be sure that the grow is steady and can be sustained. We dont want to get wrong in the change of price on getfaircoin and by obligatted to move the price again to lower...
At the same time, if some time there are big dumbs in bittrex below the price of getfaircoin we will mantain the stable price if possible (as we already did when two months ago there was price below 1500 in bittrex at some moments...)
So is not that the intention of getfaircoin is to have a lower price than bittrex, but to have a more stable evolution... And until now is working. In the future i see that we will need to automatize some parts of the managements, but i think that delay the send is useful anyway for support stability...
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