Post
Topic
Board Marketplace (Altcoins)
Re: MRO Monero trading thread and OTC xchg (bid 23.5 ask 25 last 21.2)
by
smooth
on 29/04/2014, 00:37:59 UTC
excuse me?

I'm simply letting users understand the reality; the valuation of this alpha level coin in such an immature state is obscene, it's only thanks to the high difficulty, high barriers to entry and illiquidty of the market.. having to resort to forum based orderbook that someone would pay so much.

Liquidity is a nice excuse, and also false. In addition to the many other orders that are p2p, I have an order to buy 2000 coins on escrow right now. You are welcome to sell into that order. You can have BTC in on the way to you in exchange for your obscenely overvalued Monero within 3 minutes. Okay? After that you can probably sell another 10000 within an hour or two.

There is nothing wrong with this order process. When you consider the problems that have been caused by centralized exchanges (including $400 million getting stolen in one case), direct trades OTC might well be better.