Namecoin <-> BTC Exchange

[doublec]

Judging by sales made, it looks like the exchange rate is 200 NMC to 1 BTC at worst. Does NMC sell well (quickly) if you put it up for sale at that sort of price ?

The exchange hasn't been up for long enough to tell really. But 0.005 BTC for 1 NMC seems cheap so I can't imagine it not selling. There are buys at 0.0065 and 0.006 so you'd already sell them immediately for that if you listed.

[Chucksta]

Judging by sales made, it looks like the exchange rate is 200 NMC to 1 BTC at worst. Does NMC sell well (quickly) if you put it up for sale at that sort of price ?

The exchange hasn't been up for long enough to tell really. But 0.005 BTC for 1 NMC seems cheap so I can't imagine it not selling. There are buys at 0.0065 and 0.006 so you'd already sell them immediately for that if you listed.

Thanks for the quick reply

Don't worry, I'll be putting mine up for the current price at the time, 0.006 to 0.007. I won't be undercutting the price... good way to kill the value... really don't want that

[Chucksta]

I successfully tested out the exchange, but I kind of boobed with my 2nd transfer of NMC

Not sure if you can do anything about it, but I sent 50 NMC to the same address as the first lot I sent, also 50. I'm an experienced BTC miner and MT Gox trader so should have known better... silly me

Basically I sent 2 lots of 50 NMC to NBSuqd75w1bfo7fnfEPXogBChbnWpj7cbc
The first lot went through okay, obviously, but the 2nd lot has not shown up.

Bitparking Exchange ID: Chucksta

No big deal if it's kaput.

[doublec]

Basically I sent 2 lots of 50 NMC to NBSuqd75w1bfo7fnfEPXogBChbnWpj7cbc
The first lot went through okay, obviously, but the 2nd lot has not shown up.

I've fixed this, no problem. You should have the 50 NMC appearing. I will eventually fix the deposits so the one transaction per address limitation goes away.

There have also been issues with people accidentally sending namecoins to the bitcoin address and vice versa. The clients *do not* warn about this. If this happens I can resolve the problem so just get in touch with me. The fix involves copying the wallets, on a clean machine using the bitcoin wallet for namecoin, the money gets received as namecoins, then sending them out to a new namecoin address.

[moa]

There have also been issues with people accidentally sending namecoins to the bitcoin address and vice versa. The clients *do not* warn about this. If this happens I can resolve the problem so just get in touch with me. The fix involves copying the wallets, on a clean machine using the bitcoin wallet for namecoin, the money gets received as namecoins, then sending them out to a new namecoin address.

Yikes, that could get messly confusing quite quickly ... lucky those 'N's are at the front of the address.

[Chucksta]

Thanks, doublec. All NMC present and correct

Yesterday was my first day of NMC mining and trading. From that I see that there's not enough demand for NMC to be mining 24/7, so I'll be keeping my miners mostly on BTC, with an hour or so of NMC per day.

Trading NMC is actually more fun than trading BTC. Watching the market for buy orders that come in at a decent price, and placing a stack of NMC way higher than the highest buy order then waiting for someone to buy it. I'm placing my lots on at no lower than 0.007 BTC per NMC

[doublec]

Trading NMC is actually more fun than trading BTC. Watching the market for buy orders that come in at a decent price, and placing a stack of NMC way higher than the highest buy order then waiting for someone to buy it. I'm placing my lots on at no lower than 0.007 BTC per NMC

It's interesting because people generally know the value of NMC since it's pegged to BTC through the difficulty calcuations. But it has intrinsic value of its own through the ability to register namecoin names using it - something BTC doesn't provide. This should give it extra value. So for it to move above the pegged value against BTC the domain side of it needs to get more use, and/or merchants need to start using it.

[Chucksta]

Trading NMC is actually more fun than trading BTC. Watching the market for buy orders that come in at a decent price, and placing a stack of NMC way higher than the highest buy order then waiting for someone to buy it. I'm placing my lots on at no lower than 0.007 BTC per NMC

It's interesting because people generally know the value of NMC since it's pegged to BTC through the difficulty calcuations. But it has intrinsic value of its own through the ability to register namecoin names using it - something BTC doesn't provide. This should give it extra value. So for it to move above the pegged value against BTC the domain side of it needs to get more use, and/or merchants need to start using it.

Yes, very true. I have been talking about this with my techy friends, and have been posting info and links to this forum and Namecoin related sites.

The more people who know about Namecoin, the better it will be for Namecoin, whatever your reason for taking an interest in it

[moa]

Doublec;

are you keeping the data for exchange close for the day ... or highs and lows? It would be good to get this charted eventually so will need the data for that.

[doublec]

are you keeping the data for exchange close for the day ... or highs and lows? It would be good to get this charted eventually so will need the data for that.

I keep a record of everything so this data can be computed from the database. I agree that charts would be good and I'm keen to add them. Or I'll provide an API so some third party can do it.