RobbieMor

I submitted the following question to DXSynergy:-

I see that you have disabled the ability to convert DXCredit into DXRewards.
News Article 194 encouraged us to "For those accounts that are sitting with DXG Rewards you should consider going to the DXTrade Exchange and begin bidding for DXG Credit that is being made available to exchange DXG Rewards for DXG Credit."
This seems to have been bad advice since we can now OutXchange to FG with rewards. "- The amount of the OutXchange that was deducted from the DXCredit balance is then added back to the DXCredit balance by deducting from the DXG Reward balance as an extra bonus."
Please allow us to convert some of our DXCredit to DXRewards in the Trade Exchange.
May I share your answer?

CuriousGeorge

Oh, wow, like, bombshell.

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lynnette

I think you have that the wrong way round Robbie, surely you need to change your DXRewards to DXCredit?

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Lynnette
If you always do what you've always done, you will always get what you've always got. If you want what you've never had, you have to do what you've never done.

RobbieMor

I don't think so. News article 199 says, in the last sentence " The amount of the OutXchange that was deducted from the DXCredit balance is then added back to the DXCredit balance by deducting from the DXG Reward balance as an extra bonus."

Also the latest FG OutXchanges were decucted from DXRewards, not DXCredit. I now have a very high DXReward Deficit.

lynnette

The facility to change DXCredit to DXRewards was taken away quite a while ago, support usually suggest if you have a minus DXReward balance, remove the same amount of rewards from the portfolio.

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Lynnette
If you always do what you've always done, you will always get what you've always got. If you want what you've never had, you have to do what you've never done.

RobbieMor

Yes this is true, but I have no rewards in my Portfolilo because I follwed their advice, "News Article 194 encouraged us to "For those accounts that are sitting with DXG Rewards you should consider going to the DXTrade Exchange and begin bidding for DXG Credit that is being made available to exchange DXG Rewards for DXG Credit."

Many others have done the same, thinking that at some point we could turn DXCredit into DXGold but now they swithched it to Rewards and I have none.

the Guru

That sentence from 199 is either wrong or it doesn't work. When I InXchanged FG to repay a DXCredit OutXchange the only balances that were effected were my ...

1.DXGold (increased because I InXchanged)
2.Federal Gold Reserve (increased because I InXchanged Federal Gold)
3.DXGold OnHold (decreased because I repaid the OutXchange)
4.DXGold a second time (because I received my DXGold OnHold back)

1 & 2 are the same thing because FGR is included in the DXGold balance so 2 can be ignored.
3 & 4 cancel each other out (1 increase and 1 decrease)
1 is also canceled out by the original OutXchange process which involved the following balance changes ...

5. DXCredit (decreased because I OutXchanging it)
6. DXGold (decreased because it went OnHold as collateral)
7. DXGold OnHold (increased because of 6 above)

6 & 7 here cancel each other out
1 & 5 cancel each other out
End result - a balanced transaction.

My DXGRewards balance did not change at all.

HOWEVER ....

When I OutXchanged my Federal Gold Reserve, the following balances changed ...
1. DXGold (decreased because I was OutXchanging it)
2. Federal Gold Reserve (decreased because I was OutXchanging Federal Gold Reserve)
3. DXGold OnHold (increased because .... ummm ... I know DX want me to repay that FGR but the only reason I can see to place it OnHold is to keep track of it, so ... increased because DX needs to keep track of it)
4. DXG Rewards (decreased because the overall transaction in not balanced and this is needed to balance it)

Remeber, DXG Rewards are a calculated balance only. It is the leftover once DXGold and DXCredit are accounted for. Anything leftover (due to inaccurate accounting principles) is accounted for in DXG Rewards.

From an accounting POV this is totally wrong, inaccurate, and inept!

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RobbieMor

Hello xxxx,

The DXCredit to DXG Rewards was disabled more than one month ago so that the DXG Rewards could be reduced from the accounts.

There have been DXCredit listings made available by Admin to bid for with DXG Rewards but there didn't appear to have much activity while users are waiting for the system wide conversion.
You can list DXCredit for DXG Rewards on the DXTE if you want.
By adding DXG Rewards back to your account it is best that you not activate your account with the Service fee.

There is no OutXchange option out to Federal Gold using or with DXG Rewards. This is only a mechanism of the DXGold in the accounting that has an affect on the surplus DXG Rewards in the account.
There is no direct use of DXCredit and DXG Rewards when OutXchanging and InXchanging with Federal Gold.
The information you are referring to is old and outdated and refers only to the background accounting for all the currencies and should not be used as a guide.

It would appear there is too much information being shared however the above information could be shared.

We hope we have been of assistance, if you have any further questions or queries please don't hesitate to reply.

With Regards,
The DXSupport Team

blackewe

This one really gave me a chuckle.

RobbieMor