On Haveno RetoSwap, why are some cash by mail offers less than the current XMR price?
For example, right now XMR is $215 USD/XMR, but there's an offer listed at $210/XMR and another one at $213/XMR. This seems to happen relatively frequently. Anyone know why this is?
Letely, the price is going up but many of those offers may have been made a day ago or something.
Also, some people may be willing to take a little haircut to get the trade done fast. This is how price discovery works on an order book, spreads should get smaller as liquidity goes up
Letely, the price is going up but many of those offers may have been made a day ago or something.
This is the whole thrust of my question. Are these "old" offers from "a day ago" that will suddenly increase when I respond to the "old" offer or are the sellers committed to the advertised price, even if it's below market value?
Also, some people may be willing to take a little haircut to get the trade done fast.
Really? Sellers do that?
An offer that's on the book is on the book. If the person who made it wants to take it down they can. If it's still there you can take it.
Of course they do. Not all of them, but they do. Just like grocery stores to 10% off stuff they want gone. If someone needs to sell fast, the best incentive is a little discount.
Because the person making the offer doesn't want to lose money. If you are doing cash in mail and they offer to pay $210 for every $215 in XMR that's about 2% profit which is fairly reasonable.
I think you misunderstood my question. I posed it as a buyer responding to a sell offer. Why would a seller offer XMR for $5 less than market value and want to lose money?
Oh i had it backwards yeah.
If it's under valued than the reason is probably expediency
Because cold hard cash has more value to the buyer then other forms of payment and they are willing to give a premium for it.
OK, I guess I'll take your word for it, but XMR never was offered for less than market value for cash by mail trades on localmonero.co.
Maybe they are feds out to get you.
Because cash has a different market exchange rate than other currency methods. Supply demand etc etc
I don't understand what you mean. Right now the value of 1 XMR is $213 USD. There are sell offers ranging from $208 to $236. The cash market exchange rate should be the same for all offers, right? Why would someone want to sell XMR for below market rate?
Because $1USD in digital doesnt equal $1USD in cash. Monero represents the real world exchangeable value of $1USD in its variouse forms.
If u think u can buy monero under price with cash then sell it for non cash then convert non cash to cash then repeat then ur welcome to try. I suspect u will find that once uve gone to all the extra effort to do the cash non cash conversion plus account for the time it takes u then u will find ur making exactly $0. This is what a free market does and monero is a true free market hence why its only now u notice that $1USD cash isnt worth $1USD non cash.
Even I do this sometimes
Even this happens on centralized exchanges. In Turkey cryptocurrencies are a bit more expensive than global market price. Once I've seen 6-7% higher than global market price when the regulations were very strict and when people were in panic.
Use instant crypto exchanges to buy XMR, Exolix seems to have pretty good rates