ShapeShift.io - Instant Coin Exchange

[nohupdisown]

Question about the actual, practical exchange rates on the site, since I'm seeing a discrepancy.

Let me provide some examples.

I converted 0.13 XMR at a quoted rate of 0.00304009 BTC per XMR, which should come out to 0.00039521 BTC.

I only received 0.00029402 BTC.

I converted 0.07 XMR at a quoted rate of 0.00304009 BTC per XMR, which should come out to 0.00021281 BTC.

I only received 0.00011217 BTC.

Finally, a larger amount:
I converted 11.43664499 XCP, at a quoted rate of 1.16841180 XMR per XCP, which should come out to 13.36271096 XMR.

I only received 13.32958171 XMR.

What is the source of this discrepancy? Is there a way to correct this discrepancy in the quoted rates on the site?

I'd like to be able to have a better idea of what I'm actually going to receive when I make the transaction.
This seems to be a separate issue from the fluctuations of the exchange rates. There seems to be another cost in there (a fee?) that isn't being made visible to the user before the conversion takes place. If it's a fee, it'd be useful to have the fee baked in to the quoted exchange rate, or at least calculated and displayed for the user before the conversion is made.

1) Diff =  0.00010119 BTC
2) Diff = 0.00010064 BTC
3) Diff = 0.03312925 XMR

According to shapeshit.io 's about page, there is a miner fee of
BTC   Bitcoin Miner Fee: 0.0001 BTC
XMR  Monero Miner Fee: 0.02 XMR


So I'd say there is still some missing money , esp in the XMR case...

[1714871809]

1714871809

[1714871809]

1714871809

[mmortal03]

For #3, I just looked back, and there is a chance that I copied the wrong exchange rate when it finally executed, but it was still in that ballpark. I don't have the figures now to verify. The first two should be accurate, though. You seem to be correct that the fees may be what makes up the bulk of this. It would definitely be helpful for ShapeShift to explicitly display the fees before any exchange takes place so that we can better estimate how much we'll actually receive.

[ShapeShift.io]

ShapeShift Is Now The Fastest Way To Buy Or Sell Tether USD₮: http://bit.ly/1Gj7FAQ

[Retired]

Hi, there! Can you give us a little more information? That API call you mention returns a result.

Do you plan on adding callback support for shapeshift.io/sendamount ?

Of course! I mean, adding JSONP support for /shift or /sendamount. I think it would make integration easier on most systems.

[ShapeShift.io]

Question about the actual, practical exchange rates on the site, since I'm seeing a discrepancy.

Let me provide some examples.

I converted 0.13 XMR at a quoted rate of 0.00304009 BTC per XMR, which should come out to 0.00039521 BTC.

I only received 0.00029402 BTC.

I converted 0.07 XMR at a quoted rate of 0.00304009 BTC per XMR, which should come out to 0.00021281 BTC.

I only received 0.00011217 BTC.

Finally, a larger amount:
I converted 11.43664499 XCP, at a quoted rate of 1.16841180 XMR per XCP, which should come out to 13.36271096 XMR.

I only received 13.32958171 XMR.

What is the source of this discrepancy? Is there a way to correct this discrepancy in the quoted rates on the site?

I'd like to be able to have a better idea of what I'm actually going to receive when I make the transaction.
This seems to be a separate issue from the fluctuations of the exchange rates. There seems to be another cost in there (a fee?) that isn't being made visible to the user before the conversion takes place. If it's a fee, it'd be useful to have the fee baked in to the quoted exchange rate, or at least calculated and displayed for the user before the conversion is made.

Hello mmortal03,

Most of what you're describing is precisely the miner fee. The amounts you are doing are very tiny, and thus the miner fee will look big in percentage terms. For example in your first case, you expected 0.00021281 and received 0.00011217 which is a difference of 0.00010064.   0.0001 of that is the miner fee, so in actuality the discrepancy is 0.00000064 (in other words, not significant).  This final amount difference is likely caused by a small change in the exchange rate from when you clicked "start" to when your coins actually got one confirmation in our system and processed (which may be a few mins later).

There are no other fees other than the small miner fee, so for any transactions more than just a few pennies, you should not have this issue at all.

Note: If you ever need a precise exchange rate that is guaranteed not to change from when you're quoted to when the exchange occurs, use the "Fixed Amount" transaction feature, which gives you a 10 minute window to deposit and if you do so, you will get exactly the rate you were quoted at the start.

Please let us know if we can help with anything further, and thanks for asking questions!

[bitbets]

With Shapeshift Lens, https://bitcointalk.org/index.php?topic=717973.msg9522352#msg9522352
 websites who accept bitcoin can now accept altcoins too..

I know you are accepting 'Leading altcoins' but I thought I would ask you to accept smartcoins,
though smartcoins are not currently a leading altcoin, but I believe could be.

I have taught myself not to install browser addons/extensions though,
so I won't likely use it (Shapeshift Lens) for now, ( I have had troubles with browser extensions in the past)
but invite you to try and sell me on your browser extension. 

[mmortal03]

Note: If you ever need a precise exchange rate that is guaranteed not to change from when you're quoted to when the exchange occurs, use the "Fixed Amount" transaction feature, which gives you a 10 minute window to deposit and if you do so, you will get exactly the rate you were quoted at the start.

Including the miner fee? Btw, thanks for your response.

Either way, it'd be useful to display the miner fee right there on the screen when doing a transaction, and the amount expected to be received, so that there is no confusion.

[BayAreaCoins]

Note: If you ever need a precise exchange rate that is guaranteed not to change from when you're quoted to when the exchange occurs, use the "Fixed Amount" transaction feature, which gives you a 10 minute window to deposit and if you do so, you will get exactly the rate you were quoted at the start.

Including the miner fee? Btw, thanks for your response.

Either way, it'd be useful to display the miner fee right there on the screen when doing a transaction, and the amount expected to be received, so that there is no confusion.

+1

Used for about 10BTC of CLAMS the other day and full agree with mmortal.

It would make it a better user experience.

[ShapeShift.io]

Note: If you ever need a precise exchange rate that is guaranteed not to change from when you're quoted to when the exchange occurs, use the "Fixed Amount" transaction feature, which gives you a 10 minute window to deposit and if you do so, you will get exactly the rate you were quoted at the start.

Including the miner fee? Btw, thanks for your response.

Either way, it'd be useful to display the miner fee right there on the screen when doing a transaction, and the amount expected to be received, so that there is no confusion.

+1

Used for about 10BTC of CLAMS the other day and full agree with mmortal.

It would make it a better user experience.

Good idea, we'll consider adding that to the site, thank you!

[Retired]

Hi, there! Can you give us a little more information? That API call you mention returns a result.

Do you plan on adding callback support for shapeshift.io/sendamount ?

Of course! I mean, adding JSONP support for /shift or /sendamount. I think it would make integration easier on most systems.

Do you need more information on what JSONP is? Or maybe you already have JSONP support but don't announce it?

[ShapeShift.io]

Hi, there! Can you give us a little more information? That API call you mention returns a result.

Do you plan on adding callback support for shapeshift.io/sendamount ?

Of course! I mean, adding JSONP support for /shift or /sendamount. I think it would make integration easier on most systems.

Do you need more information on what JSONP is? Or maybe you already have JSONP support but don't announce it?

Quick question - are you aware our API supports CORS? Does this provide what you need in lieu of JSONP?

[ShapeShift.io]

Vericoin is up over 14 percent within 24 hours. Buy or sell VRC instantly on ShapeShift.io

[ShapeShift.io]

‎ShapeShift.io‬ has partnered with Purse.io, a service that matches customers wishing to purchase ‪‎bitcoin‬ with bitcoin holders wanting to purchase items with retail giant Amazon.com. You can now make your purchases with 25+ altcoins as well! Check them out here: https://purse.io

[iCEBREAKER]

xpost:

PURCHASE ON AMAZON.COM WITH DASH: ShapeShift.io‬ has partnered with Purse.io, a service that matches customers wishing to purchase ‪bitcoin‬ with bitcoin holders wanting to purchase items with retail giant Amazon.com. You can now make your purchases with Dash: http://bit.ly/1JTnSdP

For the sake of its reputation, Shapeshift.io shouldn't do business with instamined scam coins like Dash, who stole its (most recent) name from another coin with genuine (AKA cryptographically/mathematically proven) privacy.

Your post in the victim coin's thread illustrates perfectly the damage done by THE DARKCOIN FOUNDATION INC's rebranding campaign.

No matter how many times X/DARK/DASH re-brands, it is still an insta-mined scam coin.

Shapeshift.io is way too cool to touch such reprehensible scams!  Please drop X/DARK/DASH ASAP.

[mmortal03]

I'm testing purchasing something on Purse.io with Monero, using the "Pay with Altcoins" Shapeshift Shifty API option. After clicking Pay with Altcoins, choosing Monero, and submitting, it is *not* generating a compliant Monero address to send to.

Here's a screenshot:

[mmortal03]

Over in the Monero thread, they are saying that that is probably the payment ID. If that's the case, then where is the payment address, and why is the payment ID being treated as if it's the payment address?

[opennux]

Over in the Monero thread, they are saying that that is probably the payment ID. If that's the case, then where is the payment address, and why is the payment ID being treated as if it's the payment address?

Cross-post:

It IS the payment ID they are showing you. Not the address. (note the ID is 64 characters and no capital letters.)

A raw Monero address on the other hand is 95 characters long and starts with the number 4. (and contains plenty of capitalised letters).

[ShapeShift.io]

Hi, there! Thanks for pointing this issue out to us. We are, at this very moment, working on fixing this. It will be fixed within the next few hours. Thanks so much!

I'm testing purchasing something on Purse.io with Monero, using the "Pay with Altcoins" Shapeshift Shifty API option. After clicking Pay with Altcoins, choosing Monero, and submitting, it is *not* generating a compliant Monero address to send to.

Here's a screenshot:

[ShapeShift.io]

ShapeShift.io has added Swarm to our digital asset exchange. Instantly exchange Swarm with:

Bitcoin<-> Swarm
Litecoin <-> Swarm
BTS <-> Swarm
XCP <-> Swarm
Dogecoin <-> Swarm
Nxt <-> Swarm
XRP <-> Swarm
Clams <-> Swarm
Dash <-> Swarm
Monero <-> Swarm
Nubits <-> Swarm
Vericoin <-> Swarm

[ShapeShift.io]

Hi, again! We have fixed this issue with the Monero on Purse.io. Please let us know if you still have issues!

Hi, there! Thanks for pointing this issue out to us. We are, at this very moment, working on fixing this. It will be fixed within the next few hours. Thanks so much!

I'm testing purchasing something on Purse.io with Monero, using the "Pay with Altcoins" Shapeshift Shifty API option. After clicking Pay with Altcoins, choosing Monero, and submitting, it is *not* generating a compliant Monero address to send to.

Here's a screenshot: