What is the reason for 7 day expiration period?
usage: counterpartyd order [-h] --source SOURCE --get-quantity GET_QUANTITY
–get-asset GET_ASSET --give-quantity GIVE_QUANTITY
–give-asset GIVE_ASSET --expiration EXPIRATION
[–fee-fraction-provided FEE_FRACTION_PROVIDED | --fe
Counterparty now suffers from almost zero trade volumes. Unlimited orders could solve some part of the problem.
The Counterparty DEX suffers from low liquidity partially because the selling of BTC on it was disabled in Counterwallet approximately one month ago (and it was disabled because it was expensive and not a very good experience for many users who didn’t understand or didn’t want to understand how it worked). Another reason is that it was relatively expensive (1% vs. 0.2% commonly found on exchanges) and it was so priced in order to discourage troll orders.
So right now for BTC Sell and any Counterparty asset you can use the CLI (in counterpartyd) to set expiration time as above.
For non-BTC sell you can set your expiration time in Counterwallet settings (the little gear icon in top right corner).
Some related info can be found here.
- Some folks like to set time to shorter because they don’t want to have their order remain active for too long if the price moves against them, so the preset limit is some sort of it was hoped “reasonable” value.
- Other assets are also not very liquid because people who trade tend to do it a lot and like “live” price movements, speed of settlement (seconds), etc. what traditional exchanges offer. That is more expensive than trading on the DEX, but it’s also “fun” for which people don’t mind to spend the 0.2% per order trying to beat the market wink
- I think it would help to have an easy way to figure out how much prices in XCP equal in BTC, because it’s very difficult to compare asset prices on the DEX with prices outside (on centralized exchanges) which are quoted in BTC.
I made an enhancement request for that, but it could be even solved by a browser add on. The scary part is potential inaccuracies and/or bugs in the add-on/extension.
Thanks for answer. I didnt know about settings of default )