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Evercoin: A cryptocurrency exchange platform

evercoin.com

11–20 of 77 posts

Re: Evercoin: A cryptocurrency exchange platform

#11
As others have noted, this is a clone of https://shapeshift.io/. Clones are fine: it's possible that evercoin does something different/better than shapeshift. What is not fine is the apparent lack of transparency in fees [0]. evercoin says that they charge both exchange and miner fees but do not specify either; just because they include the fees in the final price does not mean they do not exist. Compare this to shapeshift [1], which only charges a miner fee, specifying exactly what that fee is.

[0] - from their FAQ (https://evercoin.com/faq):

> How about fees?

> Let's assume Evercoin tells you that you will receive 7.55 LTC for depositing 1 ETH. All fees (our fee and miner/blockchain fee) are all baked into our pricing so there is no additional fee. That means if we receive -exactly- 1 ETH then you will get -exactly- 7.55 LTC in your LTC wallet. No playing with the numbers, no surprises.

[1] - from https://info.shapeshift.io/about:

>With ShapeShift, what you see is what you get. The exchange rate shown is exactly what you'll receive, minus only the "miner fee." There is no exchange fee, or service fee.

> [fee schedule follows]

Re: Evercoin: A cryptocurrency exchange platform

#12
post #11

As others have noted, this is a clone of https://shapeshift.io/ . Clones are fine: it's possible that evercoin does something different/better than shapeshift. What is not fine is the apparent lack of transparency in fees [0]. evercoin says that they charge both exchange and miner fees but do not specify either; just because they include the fees in the final price does not mean they do not exist. Compare this to sha…

It sounds like using Foreign-exchange with an ATM card - there's no explicit fee except the conversion rate is adjusted to work in the bank's favor as a cut of the total amount transfered.

Re: Evercoin: A cryptocurrency exchange platform

#13
post #9

Looks like a shapeshift/changelly clone.

Why are you all so keen on a monopoly? Competition = better rates for both services.

Nobody is arguing for a monopoly, but you need some differentiating factor until your service grows to the point of being a commodity.

Re: Evercoin: A cryptocurrency exchange platform

#14
post #11

As others have noted, this is a clone of https://shapeshift.io/ . Clones are fine: it's possible that evercoin does something different/better than shapeshift. What is not fine is the apparent lack of transparency in fees [0]. evercoin says that they charge both exchange and miner fees but do not specify either; just because they include the fees in the final price does not mean they do not exist. Compare this to sha…

I'm pretty sure Shapeshit charges a fee (spread).

Re: Evercoin: A cryptocurrency exchange platform

#15
post #13
post #9

Earlier quoted context omitted.

Why are you all so keen on a monopoly? Competition = better rates for both services.

Nobody is arguing for a monopoly, but you need some differentiating factor until your service grows to the point of being a commodity.

No you don't. Businesses like to claim some profound difference that makes them better than the competition, when in reality it's just a thinly veiled gimmick around a clone of the exact same business model.

Re: Evercoin: A cryptocurrency exchange platform

#16
post #5

Looks like a shapeshift/changelly clone.

The simplicity of the conversion is fantastic, but I am perplexed as to how an anonymous exchange exists when there are KYC requirements.

first by admitting that KYC wouldn't help stop terrorists even if it was implemented how you imagined it. Even Shapeshift wrote that in response to the WannaCry investigations.

One hop to Monero and the whole money firewall regime is foiled, hopefully enough that the people of any nation ask their governments to stop spending their money on that task, and focus on the economy in more productive ways.

KYC laws apply to national currencies. Any cryptocurrency exchange that has limits is just trying to run a show to appease some senators for the time being.

Re: Evercoin: A cryptocurrency exchange platform

#18
post #11

As others have noted, this is a clone of https://shapeshift.io/ . Clones are fine: it's possible that evercoin does something different/better than shapeshift. What is not fine is the apparent lack of transparency in fees [0]. evercoin says that they charge both exchange and miner fees but do not specify either; just because they include the fees in the final price does not mean they do not exist. Compare this to sha…

It doesn't matter. At the end of the day, all you care about is the exchange rate (e) for the number of tokens you send (x) and the number of tokens you get (y). i.e (x/y = e)

The way the exchange determines this rate is entirely upto them. If it's too high, go somewhere else.. but no exchange is required to disclose how they derived their rate. Just because one did, doesn't mean it's any better than the other.

If the e(shapeshift) In the real world, I wouldn't expect a money-exchange at the airport to include a full breakdown of their costs on their exchange schedule.

Re: Evercoin: A cryptocurrency exchange platform

#19

This seems so wacky to me. Are you guys seriously going to start sending thousands of dollars in currency through some random website with a marketing page and a blog?

Welcome to the "new normal" in crypto-currency. There's so much money floating around it ends up everywhere.
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