You can now write a formula using different variables and functions to craft a price that will suit your needs much better than a simple margin below/above market price. The variables are representative of market data. To access this function, simply select the third price input mode called “price formula” during the ad creation or edit process.
We pull data from the following sources:
CoinGecko
Bitfinex
Bittrex
EXMO
HitBTC
Huobi
Kraken
Livecoin
Poloniex
UPBit
All these sources will have all the XMR-related tickers available, in as many quotes (ask, bid, low, high, open, last) as is provided by the source. CoinGecko will also have tickers available for all the other cryptocurrencies that are traded on the site. There are also variables to convert between USD and all other fiat currencies.
Examples
5% over the average XMR/EUR market price: coingeckoxmrusd*usdeur*1.05
5% below the highest among the XMR/USD Bitfinex low price and the XMR/USD Kraken last price: max(bitfinexxmrusdlow,krakenxmrusdlast)*0.95
0.001 BTC over the market XMR/BTC price: coingeckoxmrbtc+0.001
Sorry but I really think you and Tony have been spending your energy and time absolutely the wrong way.
The formula is way too complex and confusing to be really useful. And it’s error-prone, thus dangerous to put it to your money.
This site right now is in dire need of promotion instead of some pricing formula. Taking it to places where people would’ve been interested in monero, one way or another. Ads would be helpful. And some promotion videos uploaded to some places like Youtube would be helpful too which would cost you NOTHING. There’re tons of ways to promote without you spending a dime. Work them out and work on them!
You guy need to make this site really UP and RUNNING instead of letting it remain pretty dead without virtually anyone coming and trading. You need to make this site a well-known exchange for producers and collectors. But as far as I know, only an extremely few of them seem to be aware of localmonero.co. I mean here in mainland China. Nowhere at any social media and forums can you find any reference to localmonero.co. Localmonero.co is basically non-existent, so to speak.
I’m myself a miner and trader and I think I would hang on at this site for as long as possible. I really love to see it as a prosperous flourishing trading platform.
People to whom it is too complex and who are afraid they might make errors have the option to use one of the other two price input modes as before. We’ve had plenty of people using the formulas and it really helps people narrow down their margins when they buy off of exchanges like Kraken to resell on LocalMonero.
We have plenty of presence on English-language forums and social media. You’re free to contact us on telegram @LocalMonero to discuss which Chinese forums it would be a good idea to post on, we’d be happy to hear your specific suggestions as someone who is active in the Chinese Monero space
They usually don’t read any English social media and forums. And they don’t speak English. The better part of the whole world of Monero miners and collectors are non-English speakers. I mean the Chinese ones. You should try to get to them using simplified Chinese.
I don’t know how to put it the perfect way, something like “get earthy” maybe, you know. Down to earth, 接地气, something like that.
I wasn’t implying that Chinese should read English-language media, I was just replying to your earlier paragraph that we don’t have any social media presence.
As I’ve said, please contact us on Telegram @LocalMonero and tell us exactly which Chinese forums we should post to, and we’ll gladly do so.
These price formulas DO NOT function properly. There was a bug in the localmonero code that cause the price of my adverts to be off by more than 8%. Multiple users exploited this bug costing me thousands of dollars. Localmonero told me it was my fault for not noticing there was a problem before completing the trades.
My price equations were set and checked to be accurate. They remained accurate for about a month. After that there was some sort of bug introduced to the localmonero code. My pricing formula that was checked as accurate and used for multiple trades suddenly became completely wrong. The fault was in no way mine. This website’s main use is to display prices of advertisements. What good is it if it supplies inaccurate pricing and doesn’t take responsibility for it?
*I made a forum post about it when it happened which support removed.
There is no bug in the code. The formula didn’t become wrong. It was simply that a hiccup happened upstream that caused the Kraken price data to be incorrect for a brief period. Unfortunately, it happened to be a period during which you received some trade offers, didn’t make sure that the XMR amount and trade currency amount were to your satisfaction, and released the coins.
As we’ve explained in the ticket, sometimes, very rarely, but it can happen, upstream data providers have hiccups, despite our best efforts to guard against it. This can happen on any service that pulls 3rd party data. Nobody will ever be able to honestly give you the guarantee that price data they pull from 3rd party providers will always be up-to-date and accurate.
Our exchange rates update once per 10 minutes. This means that pretty much always there is going to be at least a slight (but sometimes large if the market conditions change really quickly) difference between the market price at the very moment and the prices of the ads on the site set to float with the market. What happened to you was extremely unfortunate, but, in the end, it is absolutely the trader’s responsibility to ensure the trade currency amount and XMR amount are to their liking, you have the final veto on whether a trade goes through or not.
The post was removed because the topic was saying that the Kraken pricing is currently over 8% off, which it isn’t anymore, so it wasn’t accurate. You’ve also deleted your replies in that topic, and the only text left from you was a warning that the current Kraken price wasn’t accurate. Since that warning was no longer accurate, we deleted the topic. We can recover it if you so wish.
