Quote from: enmaku on August 10, 2011, 09:19:13 PM

Quote from: markm on August 10, 2011, 08:57:47 PM

So how much are they worth currently anyway? 0.0001 BTC each? How much is that in NMC? In GRP? In DVC? In MBC? Etc.

Will be good when there are more exchanges that ignore stupid fiat crap in favour of exchanging actual bitcoin-type currencies.

-MarkM-

I agree, we need more coin-for-coin exchanges. I started working on an exchange once upon a time but had too many problems with Dwolla and C# not playing nicely... Perhaps I could modify what I've already got to serve as a BTC/NMC/IXC/GRP/DVC/MBC/etc exchange...

As for current value... While I see no reason to tie USD values to difficulty, I think difficulty could be a great tool for estimating the worth of coin-to-coin exchanges... IXC diff is currently 4, BTC diff is currently 1888786.70535 so it seems to me that 1 IXC should be valued somewhere in the neighborhood of 4/1888786.70535=0.00000212 BTC (rounded to the nearest satoshi). Do the math the other way to find that 1 BTC ~= 472,196.67633750 IXC.

Of course difficulty 4 won't last for long, even with a measly 2 GH/s for the whole pool, so it may be too early to attempt such a valuation.

Of course, we have namecoin to base our math on too... Already-existing resources have shown that historically NMC is valued at about 2/3 (67.9%) of what this ratio says it should be (on average). The argument that namecoins have intrinsic value because of the service offered by the network might be slightly true, but the bitparking exchange has a volume much higher than the actual NMC spent on registrations, so they're likely being traded by speculators much the same as BTC. If we apply this fractional value to IXC we get the following:

1 BTC ~= 320,621.54323316 IXC
1 IXC ~= 0.00000144 BTC

Yeah let's redo the math after a few weeks worth of difficulty updates Tongue

Well lets see... http://galaxies.mygamesonline.org/inbtc.html ...

That table of historical values from the Latest Rates include-file shows value of IXC, expressed in BTC, as .00000817 ...

...Close enough?

Of course if you check some spot markets, they do differ.

Usually they differ from one-another too, such that typically buying cheap on FreiXchange to sell on Stellar platform is an arbitrage opportunity.

We cannot really check the HORIZON platform right now because quite some time ago some HZ whale came along and totally trashed the value of HZ, and HORIZON shoehorns HZ into every trade by making all pairs be "[token] versus HZ"; that rapidly led to an urgent scramble to delete one's sell offers until such time as some guess as to what HZ might end up being worth has been come up with.

That "dumper" whale is still a whale so folks are also naturally hesitant to grow HZ's buy-side on Stellar (for example XLM/HZ) upward though there are still occasional buys of it; folks using the proceeds of such buys to strengthen the buy-side probably tend more toward making the offers at any given price larger than toward trying to ratchet upward in price yet.

-MarkM-