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Author Topic: Mooncoin - Solidcoin/Namecoin to BTC Exchange  (Read 17053 times)
MrMoon
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August 31, 2011, 07:27:18 AM
 #1

Hello,

  I host and maintain an open source solidcoin<->bitcoin exchange ( https://moonco.in/exchange/solidcoin ) and a namecoin <-> bitcoin exchange ( https://moonco.in/exchange/namecoin ).

 We charge a 0.2% fee, have no withdrawal fees (beyond the transaction fee which goes to the network), have an API, a chart, and a live calculator on the trading page.

Edit:

Our solidcoin exchange will still remain open long as there is interest in trading solidcoins, moonco.in has nor wants involvement in the drama surrounding solidcoin. I simply want to maintain the code for an open source exchange to be used for cryptocurrencies  and provide a reliable and quality service.

tl/dr We choose this remain open because the community uses it, not because we have a position one side or the other.


 Any feedback is appreciated, we are an open source project and we require input from the community in order to be successful.

moonco.in
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August 31, 2011, 10:54:57 AM
 #2

  We charge a 0.2% fee, have no withdrawal fees, have an API, a chart, and a live calculator on the trading page.
Your solidcoin withdrawals page says "(You pay a 0.1 the 0.1 transfer fee.) ", so not quite no withdrawal fees.
MrMoon
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August 31, 2011, 07:05:47 PM
 #3

We don't add any additional withdrawal fees as some exchanges do.

The user is making the transaction so it is their fee to pay - I don't feel like I'm being disingenuous in saying no withdrawal fees considering. I don't collect that fee, the network does.

moonco.in
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September 01, 2011, 12:46:07 AM
 #4

We don't add any additional withdrawal fees as some exchanges do. .
What exchanges charge a withdrawal fee that aren't just passing the transaction fee onto the customer?
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September 01, 2011, 04:20:59 AM
 #5

We don't add any additional withdrawal fees as some exchanges do. .
What exchanges charge a withdrawal fee that aren't just passing the transaction fee onto the customer?

Not to nitpick, but don't your exchanges charge a 0.01 BTC withdrawal fee but not put a 0.01 BTC transaction fee on the transactions.  Here is one example of a withdrawal I made and it only has the standard 0.0005 fee:

http://blockexplorer.com/tx/0b4c2d3ba7e74acf0000f2af0357ac87ebeb51bf11fe47b3597285cc3fb3e68d

Frankly, I didn't mind the 0.01 fee, but it is not simply passing on the transaction fee you stuck on the tx.  It's 20x higher.

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doublec
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September 01, 2011, 04:28:04 AM
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Frankly, I didn't mind the 0.01 fee, but it is not simply passing on the transaction fee you stuck on the tx.  It's 20x higher.
This is what I was curious to see if it was what he was referring to. What I did is work out what the average transaction fee is and I charge approximately that. I don't put the 0.01 fee as part of the transaction because then the average would be even higher.

Due to the way exchanges work they get a lot of small deposits and some large withdrawals. This fragments the wallet and the large withdrawals have to pull from lots of small addresses. This carries a large fee. I've had transaction fees close to 1 coin. As an example from the namecoin exchange, where the fees work like bitcoin:

Code:
    {
        "account" : "",
        "address" : "NH56eFFnzHoieLCpR7kfToTcf6wX5L2AHf",
        "category" : "send",
        "amount" : -5000.00000000,
        "fee" : -0.75000000,
        "confirmations" : 3702,
        "txid" : "d8b597c7875d7c6668150abf5009cee2b74c2fd5c3ad7fb90066351c2e812ec6",
        "time" : 1309517469
    }

I settled on 0.01 as the average and pass this on. Unfortunately the *coin clients don't provide a way to find the fee 'up front' to charge. SolidCoin being the exception here. You can actually bankrupt an exchange that doesn't pass on the transaction fee like this by depositing lots of small amounts and then a large amount over and over.
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September 01, 2011, 01:15:33 PM
 #7

I settled on 0.01 as the average and pass this on. Unfortunately the *coin clients don't provide a way to find the fee 'up front' to charge. SolidCoin being the exception here. You can actually bankrupt an exchange that doesn't pass on the transaction fee like this by depositing lots of small amounts and then a large amount over and over.

Fair enough.  Thanks for the explanation.  I understand better now.

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September 01, 2011, 01:38:15 PM
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SolidCoin being the exception here

*cough*  Smiley

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums
Lorna Morgan
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September 01, 2011, 06:49:48 PM
 #9

SolidCoin being the exception here

*cough*  Smiley
Cool

Love Lorna xxx

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MrMoon
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September 04, 2011, 11:55:27 PM
 #10

Our volume jumped 8x today to 80K SC.

Our solidcoin exchange will still remain open long as there is interest in trading solidcoins, moonco.in has nor wants involvement in the drama surrounding solidcoin. I simply want to maintain the code for an open source exchange to be used for cryptocurrencies  and provide a reliable and quality service.

If you have any questions or concerns feel free to email me at mrmooncoin@gmail.com

 

moonco.in
Lorna Morgan
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September 05, 2011, 03:49:49 PM
 #11

Our volume jumped 8x today to 80K SC.

Our solidcoin exchange will still remain open long as there is interest in trading solidcoins, moonco.in has nor wants involvement in the drama surrounding solidcoin. I simply want to maintain the code for an open source exchange to be used for cryptocurrencies  and provide a reliable and quality service.

If you have any questions or concerns feel free to email me at mrmooncoin@gmail.com

 

I really like the trading interface of MrMoon's exchange. I've been dealing all day there. Even if your not dealing solidcoins you should take a look.

See you there...  Grin

Love Lorna xxx

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FractalUniverse
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September 05, 2011, 04:37:12 PM
 #12

Our volume jumped 8x today to 80K SC.

Our solidcoin exchange will still remain open long as there is interest in trading solidcoins, moonco.in has nor wants involvement in the drama surrounding solidcoin. I simply want to maintain the code for an open source exchange to be used for cryptocurrencies  and provide a reliable and quality service.

If you have any questions or concerns feel free to email me at mrmooncoin@gmail.com

thanks MrMoon Wink
are you planning for solidcoin betting as well?


Lorna Morgan, viperjbm +1

BitFinex.com Leveraged BTC and LTC trading. Fee discount code: wm8ibCC9Ve
BEST bitcoin mining pool: https://bitcoin.triplemining.com
my ORBitcoin address: oRXnDBdL75vuTmWi45UX7GiscwaDmSRgLS
Lorna Morgan
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September 05, 2011, 05:08:17 PM
 #13

Quote
Last Trade 0.0058 | High Bid 0.0054 | Low Ask 0.0057 | Volume 190685.3403 | SC High 0.0101 | Low 0.0011 | Avg 0.0056

If you're not trading on this exchange, what are you doing?  Huh

I forgive you if you're looking at my site  Cheesy

Love Lorna xxx

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September 05, 2011, 05:54:19 PM
 #14

I had some trouble withdrawing. Seems like like the Numbers I put into the Box were all bad (like 1.22).
So i spent some time looking at the source Code, and figured out there is a RegEx for verifying Numbers with german locale settings.
I didnt expect that, Websites and other Software using German locale settings are very rare.
Seems like Mooncoin detected my locales (how ? must be user agent or IP) and wanted Numbers like 3,14 - proper german, but unusual.

The fool who knows his foolishness, is wise at least so far.
But a fool who thinks himself wise, he is called a fool indeed.
MrMoon
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September 05, 2011, 07:14:27 PM
 #15

I had some trouble withdrawing. Seems like like the Numbers I put into the Box were all bad (like 1.22).
So i spent some time looking at the source Code, and figured out there is a RegEx for verifying Numbers with german locale settings.
I didnt expect that, Websites and other Software using German locale settings are very rare.
Seems like Mooncoin detected my locales (how ? must be user agent or IP) and wanted Numbers like 3,14 - proper german, but unusual.

It was probably made like that to be more intuitive, Ill add something to the help text to make it less confusing when I can.

moonco.in
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September 05, 2011, 11:31:22 PM
 #16

@MrMoon

I love how you cut and pasted from this forum and started whining on the Solidcoin forum about me calling the remaining exchanges pathetic after Bitparking and Ruxum closed. You wanted reasons as to why I said the remaining three were pathetic. Here is my response and it definitely outlines things beyond your .in TLD

1. You will accept deposits up 8 decimal places but will only allow 2 decimal place withdrawal. Nice little underhanded Indian ripoff.

2. Site is very clunky to use. Better have a calculator handy.

3. BTC withdraws are manual and slow to receive. 24+ hours for 2BTC to get to my wallet

4. You say "No Transaction Fees" but indeed do charge them

5. You are running a straight up gambling site in conjunction with your exchange. Illegal in the USA and invites authorities to come after you. Adds to the chance of you just disappearing. Probably explains your .in domain as you know .com can be handled better by the US authorities.

6. Your support is a Gmail address, are you serious?

7. You're skimming micro amounts off the conversion transactions (didn't think people would notice). Let me guess, they're rounding errors LOL

8. The whole site is a SQL injection nightmare or dream come true, depending on who you are.

9.Phony Whois - Partial phony California USA address. FYI Complaint filed with ICAAN and Net4India.

I have quite a few more, but this should get you started.

+1 Which is why I haven't wanted to touch this site with even a 1000' pole. Bitparking was worlds ahead of this site in terms of reliability, support, and functionality.

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September 06, 2011, 03:25:18 AM
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Wow trolls are out today.
MrMoon
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September 06, 2011, 03:27:04 AM
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@MrMoon

I love how you cut and pasted from this forum and started whining on the Solidcoin forum about me calling the remaining exchanges pathetic after Bitparking and Ruxum closed.

Didn't you already and copy and paste this in two other places? So you are literally criticizing me for responding to you in each location you copy and paste your insults? That is utterly absurd.

Here is your response again:


I love how you cut&amp;paste a quote from a different forum. Here is my response and it definitely outlines things beyond your .in TLD
 
1. You will accept deposits up 8 decimal places but will only allow 2 decimal place withdrawl. Nice little underhanded Indian ripoff.

I did not program the deposit/withdraw functionality on my site. My code is built on the betcoin poker room source code. So your accusation that I am somehow trying to be underhanded is not only racist but unfounded. If this becomes a large concern for the community I would happily invest the time to change this.

It is clear to me you are not above throwing around accusations before actually investigating the truth.

2. Site is very clunky to use. Better have a calculator handy.

If you feel there is a way to improve it you are a free to share it, you seem to make the claim you support open source software. For open source software to improve it needs feedback from the community. I have tough skin, I don't mind criticism but vague insults isn't helpful for improving the site.

3. BTC withdraws are manual and slow to receive. 24+ hours for 2BTC to get to my wallet

This isn't true, but that hasn't stopped you from making unfounded statements before so why start now? You can look at the source code yourself, I only manually process moderator withdrawals. It would be much too time consuming to process each withdrawal. I monitor it every so often to make sure nothing fishy is happening but all user withdraws are automatic. If it was slow that was not the fault of my code.

4. You say &quot;No Transaction Fees&quot; but indeed do charge them

I do not collect withdrawal fees, I don't take a cut from your withdrawal. There are sites that take a portion for the transaction fee and an additional fee on top of that. That is what I mean by no transaction fee, if the community really feels this is unfair wording I will happily change it - I don't really think it would affect new membership rate significantly.

5. You are running a straight up gambling site in conjunction with your exchange. Illegal in the USA and invites authorities to come after you. Adds to the chance of you just disappearing. Probably explains your .in domain as you know .com can handled better by the US Authorities.

So are you a real lawyer or do you just play one one the internet? I'll take advice from my actual lawyer who I pay money too, because he will be the one in court defending me if it ever comes to that.

6. Your support is a gmail address, are you serious?

They are my smtp server too for full disclosure. There are benefits to this including added security, but you clearly aren't really interested in having a civil discussion you just want to find any shallow thing to support your preconceived notions. You should take note from the philosopher Thoreau, "It's never to late to give up your prejudices."

7. You're skimming micro amounts off the conversion transactions (didn't think people would notice). Let me guess, they're rounding errors LOL

My code is open is open source, if I was actually doing this you could provide example source code instead of make silly accusations with no support. Also yes I do take small amounts from each transaction, they are the fees which I openly say I take to maintain the code and provide hosting.

8. The whole site is a SQL injection nightmare or dream come true, depending on who you are.

Which ones? Care to provide examples? Or do you not really support open source software? Because I'm sure betco.in would be interested in knowing too if this was the case.

9.Phony Whois - Partial California USA address - Complaint filed with ICAAN and Net4India.

This is the only legitimate concern I see, but the reason is I want to separate my personal life from this. And trolls like you and drama like this last weekend only makes me feel confident in that decision.
 

I have quite a few more, but this should get you started.

You just appear to be a hateful person trying desperately, grasping at straws, to put any shallow argument together to support your preconceived notions. I really don't have time to waste with this. If you ever actually put together substantial criticism or suggestions which could improve the code for the community please share them but otherwise I'm just going to ignore you from now on. Feel free to email me when you actually want to have a civil and productive discussion.

moonco.in
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September 06, 2011, 03:30:01 AM
 #19

+1 Which is why I haven't wanted to touch this site with even a 1000' pole. Bitparking was worlds ahead of this site in terms of reliability, support, and functionality.

How would you know they are worlds ahead in support if you never used my site? Or is that just another preconceived notion you don't feel the need to back up?

You guys are really something. Real intellectuals posting around here, thanks for your insightful inputs that can help my improve my open source code which seeks to support the longterm community.

moonco.in
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September 06, 2011, 03:43:40 AM
 #20

9.Phony Whois - Partial phony California USA address. FYI Complaint filed with ICAAN and Net4India.

I will fully support any digital currency not backed by malicious Bitcoin users.  So far it is SolidCoin, but I want it to be something else with even less bullshit surrounding it.  But so far it is definitely the BTC users in the way wrong here (this is not an indication that CoinHunter is "in the right", but you are just being a horrible human at this point).

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