[CLOSED] MRO Monero trading thread and OTC xchg

[smooth]

excuse me?

I'm simply letting users understand the reality; the valuation of this alpha level coin in such an immature state is obscene, it's only thanks to the high difficulty, high barriers to entry and illiquidty of the market.. having to resort to forum based orderbook that someone would pay so much.

Liquidity is a nice excuse, and also false. In addition to the many other orders that are p2p, I have an order to buy 2000 coins on escrow right now. You are welcome to sell into that order. You can have BTC in on the way to you in exchange for your obscenely overvalued Monero within 3 minutes. Okay? After that you can probably sell another 10000 within an hour or two.

There is nothing wrong with this order process. When you consider the problems that have been caused by centralized exchanges (including $400 million getting stolen in one case), direct trades OTC might well be better.

[eizh]

Why such a convoluted order process?
Lowest ask seems to put final market cap ~4,500 btc or about 2 million USD
Much too optimistic at this early stage

4500 BTC? There are 280k coins in existence. Your math is off by more than an order of magnitude.

[smooth]

Why such a convoluted order process?
Lowest ask seems to put final market cap ~4,500 btc or about 2 million USD
Much too optimistic at this early stage

4500 BTC? There are 280k coins in existence. Your math is off by more than an order of magnitude.

I think he's talking about the total 18m supply. Of course we won't even be near that for years.

[eizh]

I think he's talking about the total 18m supply. Of course we won't even be near that for years.

I'm not sure "future market cap at current price" has any meaningful interpretation.

By the way, your reported trades missed jayaitch's 5000 MRO executed @ 0.000350 today.

[David Latapie]

price / qty / btc / trader

Bids (to buy)

Looks like there are some typos. I entered the values in a spreasheet and recalculated BTC amount.

Code:

Buy
Unit price    MRO
0,00001000    1000,00000000    0,10000000    contact OP         0,01000000
0,00016700   15000,00000000    2,50000000    MadCow             2,50500000
0,00017500    2000,00000000    0,35000000    pandher            0,35000000
0,00018000    2000,00000000    0,36000000    NWO                0,36000000
0,00020000    2500,00000000    0,50000000    Joshuar            0,50000000
0,00020000    2500,00000000    0,50000000    LawBC              0,50000000
0,00020000    7500,00000000    1,50000000    boomboom           1,50000000
0,00020000    5000,00000000    1,00000000    Cloudpost          1,00000000
0,00020000    5000,00000000    1,00000000    contact OP         1,00000000
0,00021000   10000,00000000    2,10000000    eizh               2,10000000
0,00021500    4561,00000000    1,00000000    superresistant     0,98061500
0,00022500    2000,00000000    0,45000000    MilkyWayMasta      0,45000000
0,00023000   10000,00000000    2,30000000    JohnHolmes         2,30000000
0,00023500     436,00000000    0,10000000    dnaleor            0,10246000

Sell
Unit price    MRO
0,00045000    1000,00000000    0,45000000    Cloudpost          0,45000000
0,00200000     100,00000000    0,20000000    GreekBitcoin       0,20000000

Average buy and sell orders so far
- buy 18907 satoshi
- sell 17500 satoshi
(yes, sell is lower than buy)

As foralready executed trades, the average is at 25767 satoshi. But this is an average, not a median, so it is less representative.

[smooth]

Looks like there are some typos. I entered the values in a spreasheet and recalculated BTC amount.

All I see are rounding issues. The way the orders are specified on the thread it isn't always possible to come up with round numbers that exactly multiply out. There may be typos as well that I missed. If so please point them out.

[David Latapie]

All I see are rounding issues. The way the orders are specified on the thread it isn't always possible to come up with round numbers that exactly multiply out. There may be typos as well that I missed. If so please point them out.

The problem is: in cases where the orders are mathematically incorrect, what to do?
traders: take advantage of it to sell higher or buy cheaper.
OP (smooth): either say you won't correct mistakes or else correct them (more time-consuming, a spreadsheet helps). Up to you (work for free/half-empty glass or community-building/half full glass)

Some more stats now

Code:

Buy orders	
Average	0,00018907
Median	0,00020000
	
Sell orders	
Average	0,00122500
Median	0,00122500
	
Executed trades	
Average	0,00025767
Median	0,00021300

Looks like:
1. sellers are selling at less that what buyers are ready to pay for!
2. the price of monero just decreased

[smooth]

The problem is: in cases where the orders are mathematically incorrect, what to do?

Consult what the trader actually posted. No one is going to be held to something other than what was posted. Most times people post only 2 of the 3 numbers and I calculate the 3rd, but there is sometimes rounding involved with displaying it. Also keep in mind these are postings on an OTC order listing, not fully committed orders (other than those in bold).. If people don't honor their orders, the only recourse is for me to take the order down to at least keep the listing clean. (This was a big probably with the Google Docs one.)

For the trades where I'm involved, I will definitely honor the best version of what is posted and take the difference out of my pocket if necessary. (I don't think any of those have rounding issues currently.)

[David Latapie]

(I don't think any of those have rounding issues currently.)

The first one is wrong by an order of magnitude

Spreadsheet
0,00001000    1000,00000000    0,10000000    contact OP         0,01000000

OP
0.000010 / 1000 MRO / 0.1 / contact OP

0,01 became 0,1

[Anotheranonlol]

20k for sale, pm me with your offerts!

scammer. i told you already on your other 5 alts. learn to spell 'offers'

[smooth]

(I don't think any of those have rounding issues currently.)

The first one is wrong by an order of magnitude

Spreadsheet
0,00001000    1000,00000000    0,10000000    contact OP         0,01000000

OP
0.000010 / 1000 MRO / 0.1 / contact OP

0,01 became 0,1

Thanks I will fix that.

[surfer43]

WTB 2,000 MRO for 2M BCN. PM

Please change this offer to WTB 1,500 MRO for 2.5M BCN. Thanks.

[dnaleor]

WTB 2,000 MRO for 2M BCN. PM

Please change this offer to WTB 1,500 MRO for 2.5M BCN. Thanks.

wow, BCN/MRO rate is rising

[dnaleor]

please change my order:

0.000235 / 436 MRO / 0.1 / dnaleor

to

0.000240 / 500 MRO / 0.12 / dnaleor

[superresistant]

update
0.000245 / 4082 MRO / 1 / superresistant

[David Latapie]

WTB @0.000215 1 BTC

0.000245 / 4082 MRO / 1 / superresistant

I know superresistant. When he is on something, you'd better follow

[smooth]

New escrowed buy order for 10K MRO/2.4 BTC added.

[TheKoziTwo]

WTB 0.00025 / 20000 MRO / 5 / TheKoziTwo

[Buratino]

WTB 1000 MRO @ 0.00025

[smooth]

I have an escrowed order to buy 1000 MRO with 75 DRK. PM me to trade.