Is counterparty (specifically the counterwallet implementation) DEX working properly?
I ask for two reasons:
1) Counterwallet reports such miniscule trade volumes for XCP/BTC. Less than .5 BTC traded per day, and recent days April 26, 27, 29, with no trades whatsoever. Does counterwallet report all trades going through the counterparty DEX, or just those made through counterwallet?
Compare this volume to cryptocharts reporting volumes of several BTC per day from the exchanges Poloniex and BTer. Help me understand why anyone would trade on these exchanges (that require trust) when they could trade on the trustless DEX?
2) The order book (again via counterwallet) has bid-ask open orders that are crossed (e.g. right now there is a bid of .0048367 and an ask of .00416667) that don’t execute. What’s the deal with that?
Thanks for any clarity.
I’ve been confused about this myself. I think with regard to mismatch one of explanations was that (one of?) the parties wasn’t willing to pay required transaction fee. Personally I find it easier to visualize what’s going on when I’m using a nicer GUI, so that’s why I’m still using BTer (basedon someone’s recco).
[quote author=Winslow Strong link=topic=308.msg2168#msg2168 date=1399023969]
Is counterparty (specifically the counterwallet implementation) DEX working properly?
I ask for two reasons:
1) Counterwallet reports such miniscule trade volumes for XCP/BTC. Less than .5 BTC traded per day, and recent days April 26, 27, 29, with no trades whatsoever. Does counterwallet report all trades going through the counterparty DEX, or just those made through counterwallet?
Compare this volume to cryptocharts reporting volumes of several BTC per day from the exchanges Poloniex and BTer. Help me understand why anyone would trade on these exchanges (that require trust) when they could trade on the trustless DEX?
2) The order book (again via counterwallet) has bid-ask open orders that are crossed (e.g. right now there is a bid of .0048367 and an ask of .00416667) that don’t execute. What’s the deal with that?
Thanks for any clarity.
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The dex does not work that well. Its also hard to understand how it works. Ive lost a most of my btc that i had on the old counterwallet simply because i cant transfer it over. ive also had BTC simply get lost by trading on the dex.
just trade on the dex and u see how hard and slow it is.
On all other exchanges u can trade instantly.
The value from the dex is that u can trade anything. So u can create an asset and trade it right away.
Well its a folly to think that decentralization and trustless always is BEST. I mean, people are willing to sacrifice some trust and centralization for efficiency. This is proven through time immortal. While most will agree that many things are better decentralized than centralized, an exchange order system is not one of them, if the liveliness of the exchange is to be sacrificed. Exchange systems are all about performance. The trust issue is solved by allowing only the rich big corps to run them as they stand to lose more in lost business than they stand to gain in ripping off a couple users.