<l​ordx3nu:matrix.org> i scared off everybody from the music channel with my elitism :(

<c​re:unredacted.org> Kewbit is more trustworthy than erc

<c​re:unredacted.org> that's all I have to say

<o​frnxmr:monero.social> lol shouldnt your name be CrE ?

<c​re:unredacted.org> LebAnon is active on /pol/, and was banned because he posted things like this

<c​re:unredacted.org> matrix.monero.social/_matrix/media/…dacted.org/yZdNoFLvAgqGYjNwxPivprjS

<c​re:unredacted.org> We reported him

<o​frnxmr:monero.social> He's not active here

<c​re:unredacted.org> He was

<o​frnxmr:monero.social> A year ago

<p​lowsof:matrix.org> repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/367

<o​frnxmr:monero.social> lol hyperinflation was the the word in parenthesis

<p​lowsof:matrix.org> never forget the success gathering party

<c​re:unredacted.org> Do not fund this repo.getmonero.org/monero-project/ccs-proposals/-/merge_requests/564

<o​frnxmr:monero.social> .

<c​re:unredacted.org> SyntheticBird is unreliable

He's back

<o​frnxmr:monero.social> Anyone pretending to be erc's opposite is unreliable.

I have a funding idea

<p​lowsof:matrix.org> we forgot about dr cre

<c​re:unredacted.org> he's not the only 4channer. monerobull is one too. they all use the same vocabulary, but it's illegal in Germany, so he stays silent; however, we all know

Get community members to be in a dunk tank and others pay for the opportunity to try and dunk them

<c​re:unredacted.org> monerobull is antisemitic, but he presents himself as a mod

<p​lowsof:matrix.org> 🧽

<c​re:unredacted.org> I don't care about erc. he's been irrelevant for years

We could probably raise millions

<o​frnxmr:monero.social> nioc, you can do better than a dunk tank

<o​frnxmr:monero.social> You cared enough to use his name

I don't ignore things that pop into my head

<c​re:unredacted.org> how does exch have 38k in reserves? has laundering started yet?

<c​re:unredacted.org> xmr

<o​frnxmr:monero.social> they run out daily

<c​re:unredacted.org> they currently hold approximately 38896.2423501215, which translates to over $7 million

<c​re:unredacted.org> I've never seen anything like this before

<o​frnxmr:monero.social> exch.xmrpri.se

<l​ordx3nu:matrix.org> Lol

<c​re:unredacted.org> see

<o​frnxmr:monero.social> Clearly they bought the dip

<o​frnxmr:monero.social> They had near 60k

<c​re:unredacted.org> inflation bug

<c​re:unredacted.org> /s

<o​frnxmr:monero.social> Look at their volume

<c​re:unredacted.org> over $16 million in volume at its peak, with a 5% fee

<o​frnxmr:monero.social> Yup

<c​re:unredacted.org> this proves that cex holds no xmr

<c​re:unredacted.org> it looks like manipulation

<c​re:unredacted.org> buy xmr from exch -> sell on cex to lock behind kyc

<c​re:unredacted.org> I'm surprised you don't remember me from /xmr/

<l​ordx3nu:matrix.org> how about you stop dming me for attention

<l​ordx3nu:matrix.org> plowsof already does that

"<ofrnxmr:monero.social> they run out daily" - i don't understand this. why don't they raise the price to prevent running out?

<o​frnxmr:xmr.mx> Because they are a swap service. They offer xmr at ~5

because there's some rule somewhere that says they can't charge more?

a "being a swap service" rule?

<o​frnxmr:xmr.mx> Their business model?

"i must charge what the cex says i should charge, because i am beholden to them"

<o​frnxmr:xmr.mx> Have you ever used a swap service?

<o​frnxmr:xmr.mx> Of course they could charge more for a higher quantity, but all swap services charge a set %. Its essentially OTC

that's not a stupid business model that causes you to run out of product everyday?

<o​frnxmr:xmr.mx> They buy at market and sell 5% above. Of course its not a stupid business mpdel

<o​frnxmr:xmr.mx> theyve always run out, from the day they first launched iirc

<o​frnxmr:xmr.mx> Its a simple matter of xmr being in high demand

there's no zero logic to what i'm reading

it's stupid to not raise the price if the demand is there

there's this thing called "supply and demand"

it's supposed to drive free markets

<o​frnxmr:xmr.mx> Even binance and other cex ran out of xmr often lol.

locked prices usually exist in fascist societies

<o​frnxmr:xmr.mx> If supply and demand was respected by cex, and not fake prices, then xmr price would be much higher

<o​frnxmr:xmr.mx> As long as exch can replenish at suppressed rates, then cex can sell at those rates

"then xmr price would be much higher" - this is my point

exch is complicit

any service not obeying supply & demand principles is complicit

<o​frnxmr:xmr.mx> They arent. They buy at N and sell at N+5%

<o​frnxmr:xmr.mx> If they can buy at N, then they arent complicit. The xmr they buy is real

smh

<o​frnxmr:xmr.mx> You cant just ignore that the supply is available and then cry about price suppression

i didn't say the xmr is fake. i said they're suppressing the price, at their own expense at that

it makes no business sense whatsoever to run out of product every day

so the only remaining question is, why are they doing it...

<o​frnxmr:xmr.mx> If exch can buy all of the supply, and _people stop selling it back to the cex at a 5% loss_, then price will go up

<o​frnxmr:xmr.mx> As long as you dump xmr of cex at a 5% loss, the cex and exch are both accumulating at the expense of retail users

and suppressing the price at the same time

it doesn't matter that it's available. they're still refusing to raise prices

<o​frnxmr:xmr.mx> Blame the ppl supple cex with xmr.

no, they're idiots. exch is supposedly a for-profit business. they're expected to act more logically than idiot crypto gamblers

<o​frnxmr:xmr.mx> They raise price by 5% above whatever its available at. Thats _your_ fault for making it available at the -5% rate.

<o​frnxmr:xmr.mx> THEY MAKE A 5% PROFIT ON 17M EVERYDAU

which is less than they could make

it's price suppression

<o​frnxmr:xmr.mx> Youre free to run basicswap and put 60000xmr for sale at 10% if youd like to lead the charge

we all are

it's worthwhile to call our those acting against xmr as a currency though

s/our/out

<o​frnxmr:xmr.mx> And how many walk it like they talk it? Not many!

very true. but without shaming them, it not going to increase

<o​frnxmr:xmr.mx> Call out my ass, add your xmr liquidity to dexes at the rates you clamour about, or stop barking at the wall

lol what makes you say i don't?

<o​frnxmr:xmr.mx> shaming them isnt going to change anything aside from create a new competitor that will sell at 5%

there's usernames on the DEX?

<o​frnxmr:xmr.mx> you can see the liquidity on the dex broski

what's your point?

yeah, exch shouldn't be glorified in the least if we know they've actively suppressing the price. knowing that they deliberately sell out every day is clear evidence of that

<o​frnxmr:xmr.mx> Instead of yelling at a _cex_ swapper about how 5% of 15m daily volume isnt enough profit, how about you yell at community members to use dex instead of exch?

you haven't realized that's what the current topic is yet?

"it's price suppression"

"they're complicit"

"exch shouldn't be glorified in the least"

"add your xmr liquidity to dexes at the rates you clamour about"

<o​frnxmr:xmr.mx> They arent suppressing anything 💀

that's a good little sheep

<o​frnxmr:xmr.mx> anyway, have fun yelling at the sky about a for-profit entity not making enough % by trading a 5% spread all day

i will

<o​frnxmr:xmr.mx> tHeY ShoUlD SeLl aT 60%!!

<o​frnxmr:xmr.mx> As if they dont have 30 competitiors already selling higher volumes at lower rates _and all pulling a profit_

if that's true, they wouldn't be selling out

someone please go read about supply & demand

exch offers no kyc at a drop dead easy interface. of course it can sell higher

<o​frnxmr:xmr.mx> its literally true lol

<o​frnxmr:xmr.mx> Exch isnt the only no-kyc swapper

yet they sell out

please go read about supply & demand

<o​frnxmr:xmr.mx> Wizardswap and iirc bitcoinvn are 2 others

<o​frnxmr:xmr.mx> Bro doesnt know what "supply" means

it's amazing when you realize how few people understand very simple concepts

NorrinRadd: if they don't sell out every day, wouldn't they have to maintain the risk of price slippage over their preferred 24 hour time range? If they do sell out, they know all they have to do is hope price doesn't slip by -5% from their purchase price in the 24h window to still make profit.

<h​avenouser:monero.social> NorrinRadd, all societies are fascist if there are pigs with guns

<h​avenouser:monero.social> "supply and demand" is a hoax

<h​avenouser:monero.social> CEXs just set a price without even doing one trade. it is just deception by showing pictures on a screen, like the evening news

<h​avenouser:monero.social> someone will folow, does a successful trade with another one, and that is the new price, although only a handful followed. real trading has slowed down for a while, until it picks up

syntheticbird meowwwwwwwwwwwwwwwwwwwwwwwwwwww

seems like my fans were making my ears burn while I was catching my beauty nap bb.

fun times.

<s​yntheticbird:monero.social> dukenukem PPPPPPPPPUUUUUUURRRRRRRRRrrrrrrrrrrrrrrrr

<s​yntheticbird:monero.social> Let's go I have my hater club 🚀

is this the trading channel?

I sell N+11%

<o​frnxmr:monero.social> Yes

<o​frnxmr:monero.social> Monero-markets isnt bridged to matrix, so community is the nee bridge

send cash to:

PO Box 420; New North Korea; 60609

<o​frnxmr:monero.social> I've lived here for 16 years and never knew we could get a PO box

it's all about how you do who you know

<o​frnxmr:monero.social> I know you though

<e​longated:matrix.org> Wrong pin it’s 433769

syntheticbird your hating club? hm?

midipoet: even when they do sell out, price slippage is still a risk. price could fall more than 5% within a day. I wouldn't say the risk is higher than, because then they wouldn't be limiting themselves to sell at only 5% above the current CEX price. Depending on demand, it could be 10%. Their profits could be much higher. to spell it out more clearly, as supply drindles(sp?), their

raise their price higher and higher. as supply does not fall, stop buying.

The slippage is only a risk as long as they hold stock bought at price N. They obviously prefer to limit that risk, by ensuring they don't hold stock past a 24 hour window (or even less sometimes if they sell out earlier). Then, the next morning they buy at the new N and start the process again.

Plus i would imagine demand for swaps is pretty elastic, given that wallets often recommend the cheapest swap. I would imagine that the majority of swaps are conducted through wallets (could be incorrect on that though).

<o​frnxmr:xmr.mx> Probably correct in # of swaps, but not volume

<o​frnxmr:xmr.mx> wallets charge more, so anyone doing large volume has an incentive to save $ by going as close to the source as possible

<o​frnxmr:xmr.mx> Biggest savings come from kyc'd accounts on an exchange, followed by no-kyc on exchange, followed by swappers. Kyc swappers will have lower limits, so those are more of a convenience for low volume. High volume no-kyc has its own market, which is why you see hundreds of thousands or millions in volume on dex's and even more on no-kyc swappers