Hey everyone, so it's looking like we have at least 2 exchanges lined up for the peg. And there might be more who will ask for BTC. As there is really no way around this, I think it would be best if everyone from the community who has a vested interest contribute something. We will need at least 10 BTC for these exchanges however if we can raise more even better considering there are many exchanges that will probably ask similar things. I think it's personally worth it as we have waited 5 years and finally have completed this feature of the rolling peg. I think if everyone made a contribution it could leave us room to negotiate with even more exchanges. It's not my style normally to ask these things however exchanges will always charge (and sometimes they can get pretty expensive).
Of course it is up to each individual person however obviously if everything goes our way it will be worth it. I know we aren't in a bull market right now, but there is no telling when the altcoin industry will boom again and we have the only coin in the world with a decentralized dynamic supply. I'm going to post the address here. Thanks and let me know if there are any questions/suggestions/ideas.
Bitcoin address:
3P45R8RGmdLzjWgucp2X56eAexadNRrJTY
lol...and there it is...
We have been paying out of pocket for the past 4 years. Donations aren't required we will list regardless. It's that simply every single exchange will come back at us with a 3-15 btc cover charge. LAToken wants 7, BTC-Alpha 2.5 and IDAX 15. So actually just even getting a single Bitcoin would be helpful because this is going to wipe us out. We also have to be careful because OEX just stole 3 BTC from us. They said they would list and didn't. We can't risk that again. Otherwise would put exchanges on double deposit escrow which might turn them away from negotiations.
Personally I think exchanges should list us for free. What we created here is a coin that can reverse a bear market. It's crazy what this peg can do. So to be honest I don't know why BAY isn't on 100s of exchanges with this peg. It's a million times better than what Basis wanted to do and we did it while they raised 100 million for vaporware(and then they bailed on it). So trying to get a couple Bitcoins is trivial. IEO scams raise a million bucks and we are scraping with tech in hand. It's sad that we are even in a grind at all and most likely I'm gonna have to front the majority of the costs. I prefer not asking however it's absolutely worth it to see who would like to pitch in. If they don't, we will list somewhere anyways even if I've got to fly all around the world to get the connections.
These are disturbing trends I have noticed, people throw tons of money at projects with nothing but a whitepaper and have no interest in supporting projects with an actual product. Another is the high prices exchanges are asking for coin listings. Why the hell would you need even 3 BTC to list a coin ? I have been working on my own project :-
Xequium for a while and have been hearing stuff like this a lot lately.
Xequium has an in built exchange , follow the link for screenshots, it will have a robust api to rival or beat all existing ones, yet i do not think that i would charge such exorbitant amounts. Maybe because it is my first time running an exchange , but i think that is way too much. See below for a proposed cost breakdown :-
Here is how I calculated the costs for the unique wallets setup :-
For every coin :-
1x rock pi 4 model b starter kit, storage and shipping- $263.23
For every 48 coins :-
1x 48 port managed switch ~ $800
For all coins :-
1x UPS/APS - ~ $8000 (haven't asked about shipping and used would be cheaper but less reliable and probably no recourse in case of failure)
1 custom server cabinet to hold all the hardware :- price unknown but should be < $1000
So per coin i am looking at a hardware cost of ~ $ 300 (excluding the UPS and cabinet)
I'll add $100 for labour and even tack on an additional $50 for stuff like handling a swap/hard-fork. Add an internet cost of $50 for uncapped bandwidth and for electricity and cooling.
That comes to a cost of $500 to add a coin. 0.06 BTC at today's price. So even in greedy mode, if i go at 0.1 BTC per listing i'm still charging 1/30th of what i hear other exchanges charge.
So what am i missing ? How come they charge so much ?
...keep up the good work.