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mycelium-com / wallet-android

Mycelium Bitcoin Wallet for Android
http://mycelium.com
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make fee structure visible to users #359

Open s72785 opened 7 years ago

s72785 commented 7 years ago

The list of offers currently does not show what fees the competitors on the market take and what (reference) is the base of their price.

Even nicer would be filters.

Giszmo commented 7 years ago

I assume you talk about local trader.

OP asks to not show only a price but also what exchange and what commission this is based on. I tend to reject this feature request for various reasons. LT is not meant to be a tool that allows many people to compete, as it's meant for person to person trades in meat space. Making LT resemble a floating exchange would make it even harder to communicate that fact to the users.

Secondly, not even places like localbitcoins.com that have a much higher focus on trading show how the rates come to be and I guess that is for a good reason. I sell at a price that I assume to be the price in my region. If that happens to be 50% above or below exchange X, then I didn't make 50% profit or loss on my trade. It's just a tool to make the price roughly follow the trend.

Tentative to close this as won't fix.

vv01f commented 7 years ago

Local markets are comparable through distance metadata already. So you actually can see if it is worth traveling to the next town or take the higher price next door.

Localbitcoins.com example is rather a reason for this implementation as they are forced to not operate in e.g. Germany. You maybe could do things in a way to fix it upfront, especially as your market now takes forced fee for itself and this is not only advertising for other services but also making a profit on each transaction on LT.

toadlyBroodle commented 4 years ago

I also think that buy/sell trades should be advertised and organized according to their +/- fee percentage of market price rather than a fixed price point that is irrelevant the moment market price fluctuates up or down. A simple percentage of current market price that each buyer/seller is offering would be much more useful and create a simpler, cleaner UX imo. Please advise if it's worth my time to create a PR?