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I don’t understand the order book, and @AGORA wasn’t very helpful. Is the exchange rate based on what you send or what you receive? What’s yours?
I want to buy them cheap for territory rent.
In my case, I pay 0.6 sats for every 1 CC. I already include the sybil fee, and that’s the only thing I’m unsure about the other orders. There’s no way to know for sure if the sellers/buyers included it in the price.
As mentioned above, territory founders can offer the best rate due to the 21% rebate for anything zapped in their territories. If you're not a founder, factor the full 30% hit into your pricing.
#1349267
There’s no way to know for sure if the sellers/buyers included it in the price.
Exactly, which is why @ccbank mentions "you send" and "bot receives“:
exchange rate: 2.86 credits/sat · you send 14286 credits · bot receives 10000 credits · payments can take up to 24h
So interpreted from the receiver‘s side, @ccbank‘s current exchange rate is 0.5.
I think that description is pretty clear. That’s right!
my order:
exchange rate: 0.6 sat/cc · you send 100 cc · 0xbitcoiner receives 70 cc · you receive 60 sats
exchange rate: 1.(6) cc/sat · you send 100 cc · 0xbitcoiner receives 70 cc · you receive 60 sats
I like the first order description better!
you are not considering sybil fees. If 0.5 was the rate, buyer should zap 10000ccs, bot receive 700ccs you pay 500sats.
But your bot let the buyer pay the sybil fees on top of your exchange rate. That's why I consider it as buying offer with 0.35 exchange rate.
Seller is usually, but not always, the one paying the tx fees. Imagine you go to a shop and the merchant tells you there's a 3% extra charge if you pay with card.
buyer should zap 10000ccs
seller should zap 1000ccs? right?
or
seller should zap 10000ccs, bot receive 7000ccs you pay 5000sats?
I define buyer the one selling CC for SATS, but yes it can be see in opposite way as well, and it can be confusing. How could we define it clearly?
edit: ok you added it
seller should zap 10000ccs, bot receive 7000ccs you pay 5000sats?
In this case @ek is willing to buy (zap) CCs so consequently is selling (pay/sell) sats.
So the buyer is willing to buy Sats so consequently is selling CCs.
Maybe it’s just me, but the 'commodity' here is CCs, so you’re buying/selling CCs in exchange for something else, which in this case is sats. So whoever sells CCs is the seller.
I think there could be some confusion if he hadn’t said “bot receives 10,000 credits.”
Usage: @ccbank sell <invoice>
Exchange credits for sats. <invoice> must be a mainnet lightning invoice
with an amount that is valid for at least 24h.Sorry to hear I wasn't useful, I perhaps assumed all the information was already on the page.
There are two exchange rates, one for selling and one for buying. Both calculated as average of current offers. The 0.75 you see at the top is the average between the two giving a generic value of CC/SAT exchange rate. Different from the one SN advertise to sell 1cc=1sat.
I'll work again in that page and ensure the information is clearer. Is there anything else you think could be improved?
Right now I’ve got loads of them, but they’re not for sale. Funny enough, I’m actually one of those guys who buys CCs too, and I’d even offer a better price than you! 👀 #1349267