splash.tf - instant exchange BTC / ETH / XMR / DAI

[splashed]

I made a few transactions a couple days ago - everything went smooth overall. Took a bit longer than expected to confirm, but no big issues, all good.

Only real bummer is that 4% fee man that stings a little 😅

4% is only for XMR destination, any lower than that and we would have 0 XMR within a few hours 

[LoyceV]

4% is only for XMR destination, any lower than that and we would have 0 XMR within a few hours  

That sounds like good for business to me: who doesn't want to sell all their product quickly?

[splashed]

4% is only for XMR destination, any lower than that and we would have 0 XMR within a few hours  

That sounds like good for business to me: who doesn't want to sell all their product quickly?

Then we will need to buy XMR from the market with high fees

[LoyceV]

Then we will need to buy XMR from the market with high fees

We've discussed that:

maybe we need to charge negative fees to incentivize XMR-> exchanges 

If buyers are willing to pay 4% extra and sellers still pay 1%, it makes me think the market isn't in equilibrium.

[splashed]

If buyers are willing to pay 4% extra and sellers still pay 1%, it makes me think the market isn't in equilibrium.

It's 4% and 0.5% currently, and our XMR reserve has been low for a while, it only increased significantly right before this XMR rally. We could perhaps consider a automated dynamic fee 

[LoyceV]

We could perhaps consider a automated dynamic fee 

So fee-based rebalancing? Sounds fun

[dkbit98]

Nice to see splash onion link is back online.
I know people complain about higher monero fees, but rates on centralized exchanges are totally fake, and real rates one can be found on monero.boats website.
There are other alternative for btc-xmr pairs, and I think things are going to be much better after fcmp++ with atomic swaps working in both directions.

[Forsyth Jones]

Nice to see splash onion link is back online.
-
There are other alternative for btc-xmr pairs, and I think things are going to be much better after fcmp++ with atomic swaps working in both directions.

The last time I used Splash, they stood out with more competitive Monero fees than some other options. It's commendable, considering they have their own liquidity.

Speaking of which, is it just me, or has Monero been outperforming Bitcoin this year? I thought that because Monero is extremely niche and prohibited from being supported on exchanges, it would hurt its price.

[TryNinja]

Speaking of which, is it just me, or has Monero been outperforming Bitcoin this year? I thought that because Monero is extremely niche and prohibited from being supported on exchanges, it would hurt its price.

I guess fewer exchanges means way less trading and speculation (fake leveraged ups and downs) and more real demand from privacy people who actually use the coin to buy and sell stuff online.

[LoyceV]

Speaking of which, is it just me, or has Monero been outperforming Bitcoin this year? I thought that because Monero is extremely niche and prohibited from being supported on exchanges, it would hurt its price.

Monero more than doubled, Bitcoin dropped slightly, gold increased 70%. Monero is one of the few altcoins that did good this year, the large majority lost against Bitcoin.
Buying a privacy coin on centralized KYC exchanges doesn't make much sense, removing this takes away the speculation from people who aren't even withdrawing. So that makes me believe the value of Monero is more and more based on it's actual usage.

[examplens]

Speaking of which, is it just me, or has Monero been outperforming Bitcoin this year? I thought that because Monero is extremely niche and prohibited from being supported on exchanges, it would hurt its price.

Monero more than doubled, Bitcoin dropped slightly, gold increased 70%. Monero is one of the few altcoins that did good this year, the large majority lost against Bitcoin.
Buying a privacy coin on centralized KYC exchanges doesn't make much sense, removing this takes away the speculation from people who aren't even withdrawing. So that makes me believe the value of Monero is more and more based on it's actual usage.

You can also add Zcash (#ZEC) here. Which also has privacy features and has significantly outperformed many major coins, especially in the last quarter. Plus, ZEC is still present on most CEX, much simpler to trade and manage than XMR.
I've seen on other networks that there's a lot of discussion about whether Zcash can enter Monero territory.

[LoyceV]

You can also add Zcash (#ZEC) here.

I've never used it, and when I check their website it looks like a typical ICO bubble site. From what I've seen, it has less privacy and (at this moment) more hype than Monero. I don't really care about being traded on centralized exchanges, that's the last thing a privacy coin needs. It may help to temporarily hype up the price though.

[examplens]

I've never used it, and when I check their website it looks like a typical ICO bubble site. From what I've seen, it has less privacy and (at this moment) more hype than Monero. I don't really care about being traded on centralized exchanges, that's the last thing a privacy coin needs. It may help to temporarily hype up the price though.

I haven't used it much either, but that doesn't mean that it doesn't exist and that it's non-functional. As far as I know, it has the option of choosing between public and stealth addresses, and it can be considered as having less privacy than Monero.
Perhaps from the point of view of privacy, the presence of coins on the traditional CEX is not important, but it certainly is for the volume of trade, a smaller spread and, in the end, a lower fee for the swap process.