The What, the Why, and the How of 0xBitcoin:

you spelled "mercatox wash trading" wrong
go ask them what the fuck they're at.

Based

>you spelled "mercatox wash trading" wrong
>go ask them what the fuck they're at.

here's a genuine question about the mercatox wash trading. is it really wash trading?

i know wash trading is rampant in the industry, but look at this mercatox cold wallet [pic]. does this wallet represent customer funds parked at mercatox, or is it mercatox storing their earned fees on legit trades? if it's the latter, then it would be evidence that the wash trading is actual trading, whether it's bots or not.

again, asking a real question here. i genuinely haven't thought it all the way through.

Attached: merc.png (2336x1968, 249K)

sorry here's the link:

0xbtc.info/addresses/0xc91795a59f20027848bc785678b53875934792a1

I think it's the aggregate of all wallets

Nah it's just Mercatox entering trades in the history to artificially boost their volume.
On pic related in yellow I marked the legit trades. Those are trades where a legit sell order existed in the order book that was filled by a buy order.
All the other trades with 50k 0xbtc or so are not real.
If you watch the page for a while you can actually see those fake trades. A random buy/sell order with a random volume (a few hundred up to tens of thousands 0xbtc) flashes up for some milliseconds and immediately gets filled, so no one could even take advantage of this.
Mercatox doesn't even offer a trading api so there's not really a possibility that someone external does this, also it happens on every pair on there. I mean who would actually believe that the ETH/BTC pair on a literal who exchange actually has 300 btc volume?

Attached: tradehistory.png (667x597, 81K)

>I think it's the aggregate of all wallets

i think it can't be all wallets because they also have this address [pic] which is apparently the hot wallet.

so i'm still wondering whether

A: the cold wallet is some fraction of customer funds
B: the "cold wallet" is actually just their own earnings collected from time to time

note that they have never done a single withdrawal from the "cold wallet". i would expect to see at least some withdrawal activity if it was really a cold wallet since surely they would have to withdraw funds to cover customer needs from time to time, if it actually represented customer funds.

i wish they were more straightforward about whatever they're doing at mercatox.

0xbtc.info/addresses/0xe03c23519e18d64f144d2800e30e81b0065c48b5

Attached: merc-hotwallet.png (2340x1560, 185K)

There is a better option than mercatox?
Maybe tradesatoshi or Tradeogre?

>Nah it's just Mercatox entering trades in the history to artificially boost their volume.
>On pic related in yellow I marked the legit trades. Those are trades where a legit sell order existed in the order book that was filled by a buy order.
>All the other trades with 50k 0xbtc or so are not real.
>If you watch the page for a while you can actually see those fake trades. A random buy/sell order with a random volume (a few hundred up to tens of thousands 0xbtc) flashes up for some milliseconds and immediately gets filled, so no one could even take advantage of this.
>Mercatox doesn't even offer a trading api so there's not really a possibility that someone external does this, also it happens on every pair on there. I mean who would actually believe that the ETH/BTC pair on a literal who exchange actually has 300 btc volume?

ok, i gotta think about what you said, but that is some good evidence. the super random seeming numbers definitely looks suspicious.

Sometimes people put up buy/sell orders with a spread of only 1 gwei or one sat, during those times the fake trading stops since the algorithm can't find a gap to put in a random price

Then mercatox is a huge whale

Never had a problem with mercatox. You can try forkdelta or idex as well

>discord members over time
AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

>Then mercatox is a huge whale

yeah if so, mercatox is basically the major 0xbitcoin whale. 1.11% of total supply, 4.83% of circulating supply is in that "cold wallet".

again, this is just a theory. so anybody please correct me if i don't know wtf i'm talking about.

Attached: merc-whale.png (2760x979, 170K)

>AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

uh what? why u lafn

>again, this is just a theory. so anybody please correct me if i don't know wtf i'm talking about.

it looks like the Mercatox hot wallet has done a total transfer (sent and received) of ~6 million 0xbtc. so let's assume for a second that 6,000,000 is the approx total amount of 0xbtc actually traded. (this is a bad assumption, but just for argument)

then the total fees mercatox would have collected would be 6,000,000*0.25% = 15,000 0xbtc. but the "cold wallet" contains 232,255 0xbtc, which is 15.5x as much. hmmm. so either it's not actually mercatox's fee take, or every 0xBTC on the exchange gets traded about 15.5X (average) from when it's deposited to when it's withdrawn.

again, let me know if i'm being dumb here. i'm just going off the top of my head.

U OK bro?

>There is a better option than mercatox?
>Maybe tradesatoshi or Tradeogre?

supposedly uniswap is good for acquiring 0xbtc

>AHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAH

srsly, what does this maniacal laughter mean? are you laughing because

A: the numbers are too low
B: the numbers are too high
C: the numbers are fake
D: all of the above
E: none of the above
F: something else
G: another thing
H: or ??? what

Forgot about uniswap. Also good.

Lmao

this coin will die when Eth2 is released

a claim without facts or argument is worth doodoo. here: this coin will go 100x when Eth2 is released. see how easy that was for me, and how worthless? your move.

the difference is the coin will actually benefit from eth2 being released since once ETH goes proof of stake, mining ETH will no longer be profitable.

ok, good. are you arguing that miners who used to mine eth will mine 0xbtc instead? is that actually likely? can their hardware be used effectively to mine 0xbtc?

Based and minepilled

Yup. Guess where they'll go once eth goes pos.

ok, good. i don't know what will actually happen, but this is at least a sensical argument.

You are either retarded or not well informed.
The 0xbtc smart contract will be stuck on the Eth1 PoW chain. The current Eth2 plans do not foresee a transition of legacy smart contracts to the new PoS chain. As the foundation withdraws support for the old chain, 0xbtc will become worthless.

based on my experience, i consider your claim unlikely to be true. please provide links to relevant information that supports your claim.

Are you joking? Everything on 0xbtc updates with eth

Also post evidence eth2 will be separate please

docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-1.0-to-2.0-migration/

>In the long term, the plan is to roll the PoW state into one of the shards
this won't happen™

Will you volunteer to pay the state rent?

and even if it will, ERC20s will likely be stuck on the PoW chain for years

thanks for providing source materials. so isn't your claim actually contradicted by your sources?

youtube.com/watch?v=Ag1o3koTLWM

He doesn't know....

>The 0xbtc smart contract will be stuck on the Eth1 PoW chain. The current Eth2 plans do not foresee a transition of legacy smart contracts to the new PoS chain. As the foundation withdraws support for the old chain, 0xbtc will become worthless.

i think you have this wrong. from what i understand, the plan/hope is that ethereum 1.0 will just be a shard in ethereum 2.0. so ethereum 2.0 contracts will be able to interact with ethereum 1.0 contracts.

it seems like the ethereum foundation has to manage to do that somehow. imagine how many erc-20s would be completely screwed if ethereum foundation just abandoned 1.0. doesn't seem likely.

some people might want to get a movement going to migrate 0xbitcoin to a new contract on 2.0, assuming ethereum 2.0 has any visibility into ethereum 1.0. it could be completely decentralized. burn your tokens on the 1.0 shard, receive the "same" tokens on the new contract running on some 2.0 shard. this wouldn't be without potential political problems, but not as bad as a fork (since the old tokens would be burned).

anyway, as far as many people have said so far, ethereum 1.0 will just be a shard. if you don't think that will happen, i'd like to know why.