Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty - Pioneering Peer-to-Peer Finance - Official Thread
by
Jpja
on 29/06/2014, 19:40:33 UTC
I wrote earlier about how difficult it was for me to buy an asset (JPJA) using Counterparty (via counterwallet.co).  First, it was very confusing just to figure out how to actually place an order, then it was confusing to figure out the quantity/price I was supposed to pay (it told me it could not automatically quote an exact price for me)

I had the same confusing experience. It seems to me that technically the exchange works well (at least when BTC is not involved) and all information is logically correct. But I believe confusion appears because the prices are displayed inversely to how we intuitively see them. If I for example want to buy SWARMPRE for XCP, the confusion starts on the second page.  Where it says "Buying XCP" I think it is more user friendly to write "Selling SWARMPRE" although these two statements are equivalent. And where the unit price "21.5 SWARMPRE/XCP" it would be better with "0.0465 XCP/SWARMPRE".

Where it says "Selling XCP" it should say "Buying SWARMPRE" at price 0.0462. Now you see that the highest buy offer is a little bit below the lowest ask (sales offer), just as we are used to from financial markets.

Since Counterparty enables barter, it will not always be obvious which asset is the currency, e.g. is it better to write 2 apples/orange or 0.5 orange/apple? For Counterwallet, however, I am of the opinion that in transactions involving XCP or BTC these should always be used as the currency.