Quote from: MastiffCoin on July 01, 2014, 01:33:40 AM

Quote from: seattletu on June 30, 2014, 11:50:35 PM

Quote from: MastiffCoin on June 30, 2014, 09:40:26 PM

Quote from: Winslow Strong on June 30, 2014, 12:19:37 PM

Can someone please explain how the coin recycler actually works? Basically are the devs making their own market? How competitive are the exchange rates offered?

vir6's explanation was great. The most simple answer is that CoinRecycler operates via exchanges at the moment, so the rates are what you would get there - without the hassle of trading to BTC then buying MAST. As we continue development on it, more exchanges will be added and eventually we will be making our own markets, as volume grows.

so it will be a market evolved around a coin? or is that over simplifying what it would eventually be? it sounds sweet to organically grow an exchange like that.

Once there's enough volume we'll be able to do the exchanging inside of CoinRecycler instead of farming it out onto an exchange immediately, so transactions will be able to be lightning fast since MAST transactions are fully confirmed in less than 5 minutes.

seems ambitious, i would be legit impressed if you managed to pull that off. Shocked