I spent an hour or so trying to buy some XCP on the exchange last week. My orders weren’t being accepted and I’m guessing it’s because my fee-provided wasn’t high enough. No matter, I come back today to try to buy and I find that the Poloniex price has completely decoupled from the DEX price, and it looks like there’s another troll order out there killing the DEX.
What happened? When I see such a flagrant violation of the “law of one price,” I immediately assume that one of the exchanges is broken. Should I go buy up a bunch on Poloniex, in the hopes of conducting some sweet arbitrage on the DEX?
Were you one of the bidders in the 0.007 to 0.01 range? I saw a bunch of those. At the time, there was a combination of people bidding like a satoshi lower than they should (because bidders were confused by rounding/numerical methods) and/or bidders weren’t including a high enough fee for the order to be matched.
There should be a big sticky at the top of blockscan.com’s order book saying:
“ORDER NOT MATCHED? 1. CHECK YOUR FEES 2. TRY INCREASING YOUR BID BY A FEW SATOSHI. 3. WATCH OUT FOR THE TROLL ORDER(S).”
Don’t these two orders act like a DoS attack? They block lower asks from showing up and never btcpay.
At least my asks were eaten by them immediately and expired.
There were no btcpays for more than 48h…