We see that the DEX is not working so well. First off not many people seem to use it.
I had many issues where orders were matched but not paid. I also have a problems following whats going on in the counterwallet. I think we need a better history of each order that we have created. In the wallet we should see that we have
1. create an order 123456
2. What is the status of the order (i.e.
3. What is the history of the order (i.e. created, confirmed by network, matched, paid , cancelled, any issues etc)
But the thing that shows that the dex is not working right is that there are many orders in the order book that should match.
One guy wants to sell 2K XCP for .006 and someone else wants to buy 500 XCP for .008. Those should be matched.
[color=rgb(51, 51, 51)][font=Open Sans][size=12px]Selling XCP[/size][size=12px]Unit PriceQuantity (Count)Depth[/size][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.006[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]1,993.96473335 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]1,993.9647[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color]
[color=rgb(51, 51, 51)][font=Open Sans][/size][size=12px]Buying XCP[/size][size=12px]Unit PriceQuantity (Count)Depth[/size][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.012[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.1 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.1[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.01[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.2 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.3[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.00890621[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]111 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]111.3[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.0089062[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.5 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]111.8[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]0.00880607[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]483.84553609 (1)[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color][right][color=rgb(51, 51, 51)][font=Open Sans][size=13px]595.6455[/size][/font][/color][/right][color=rgb(51, 51, 51)][font=Open Sans][/font][/color]
[font=Verdana]I am just playing around with tiny amounts and not worried about them funds so much, but you could not use this to really buy or sell anything in an amount that mattered.[/font]
The reason the trades don’t match off is because on the DEX, trades against BTC have an additional factor to match off:
Fee required and fee provided, which are fees paid to miners and are used as a spam prevention mechanism.
Trades that do match but do not settle is due to the BTC payer side failing to pay within 6 blocks.
If you don’t mind some centralization, I’ll plug my service which is under development. It simplifies trading on the DEX by removing these additional factors because you are trading in native assets to the DEX.
https://bitcointalk.org/index.php?topic=395761.msg6135822#msg6135822
https://forums.counterparty.co/index.php/topic,160
mhh so you are saying the only reason the matching is not working is because people creating the order are messing up the fees.
Likewise if you trade small amounts you need to make sure the fee is high enough.
So instead of adding a 1% fee it would make more sense to add the minimum fee in every trade ?
[quote author=knircky link=topic=224.msg1820#msg1820 date=1397057235]
mhh so you are saying the only reason the matching is not working is because people creating the order are messing up the fees.
Likewise if you trade small amounts you need to make sure the fee is high enough.
So instead of adding a 1% fee it would make more sense to add the minimum fee in every trade ?
[/quote]
It isn’t that people messed up the fees. There is a default set but people are free to remove some of those defaults or change them.
In an example where you want to match a deal completely and they have customized the fee to higher than default, then you will have to match your fee_provided to match off the deal.
In a similar way, if you don’t want to match trades which may look spammy then you should increase your fee_required to an amount that would not match those trades.
[quote author=Global_trade_repo link=topic=224.msg1843#msg1843 date=1397107565]
[quote author=knircky link=topic=224.msg1820#msg1820 date=1397057235]
mhh so you are saying the only reason the matching is not working is because people creating the order are messing up the fees.
Likewise if you trade small amounts you need to make sure the fee is high enough.
So instead of adding a 1% fee it would make more sense to add the minimum fee in every trade ?
[/quote]
It isn’t that people messed up the fees. There is a default set but people are free to remove some of those defaults or change them.
In an example where you want to match a deal completely and they have customized the fee to higher than default, then you will have to match your fee_provided to match off the deal.
In a similar way, if you don’t want to match trades which may look spammy then you should increase your fee_required to an amount that would not match those trades.
[/quote]
I don’t understand. I have to make sure to use the same fee as the guy i am matched with? That seems weird since i don’t even know who i will match with.
This seems a bit of a design flaw.
What happens to the fee by the way, who gets it? Is it not just burned? The miners can only receive bitcoin right?