Topic: Crypto exchanges not helping Bitcoin! (Read 1311 times)
Crypto exchanges are really doing some good things to the bitcoin is trust and its value,if we don't have any exchanges to convert out bitcoins to fiat then no on will invest on it because bitcoin is not accepted as payment yet in most of the places and many new exchanges are also good because it makes the competition between the exchanges which will leads to offer good services to satisfy their customers.
You are right the crypto space have been faced with so much new development projects and exchange is one of such area where we have hard several new ones recently and all trying to gain customers and relevance, but forgetting the fact that the whole ecosystem need adoption right now rather then expansion. If only bitcoin can be the only cryptocurrency then the SEC would have fine it easy to pass the bill.
Am also kind of worried about the rate in which many exchange are pumping out of recent which should be a sign for all trader that many are here to scam and have nothing to offer than spoil this technology for the real users , they can operate for more than a year or two to gain people trust and went away in just a seconds , so call on every trader to know where they will put their funds and always keep their hold token in a wallet that they have the key and only leave small amount in the exchange and also try to diversify their investment .
A lot of these new exchanges are giving new crypto users a bad experience. They are freezing accounts, holding funds, not being able to handle sign ups, etc. We already have too many exchanges as it is. It seems as though a new exchange opens every single day and often by shady individuals. Just look at how many exchanges got "hacked" the past two years.
Yes, if it is like that then it seems like a new exchange will only have a bad impact on bitcoin because many people who lose their money there, with such high concern will make many people see bitcoin exchanges not safe. But for those who have been struggling in this industry for a long time, I am sure they are not too affected by such events.
I don't see how trading competitions is giving a bad name to Bitcoin or cryptocurrency, trading competitions is a normal thing, many business hosts competition for their customers to attract more customers.
A lot of these new exchanges are giving new crypto users a bad experience. They are freezing accounts, holding funds, not being able to handle sign ups, etc. We already have too many exchanges as it is. It seems as though a new exchange opens every single day and often by shady individuals. Just look at how many exchanges got "hacked" the past two years.
With all of these new exchanges popping up here there and everywhere, i am seeing a very common theme and it's one i don't like AT ALL and i feel it gives bitcoin/crypto a bad reputation in general.
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
If you do not feel comfortable participating in those competitions then don't do it, it is as simple as that, no one is forcing a single trader to participate in those events, also it is obvious that those competitions exist because there is an interest of the community in those events, because if that was not the case those competitions would have disappeared already. What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
The marketing strategy by holding a trading contest is also good, although it is wrong to do targeting users, but at least with the competition, the related exchanger will get a reputation that might be better and better. And when it is above, it may be equivalent to Binance or Bittrex, he will greatly influence cryptocurrency
With all of these new exchanges popping up here there and everywhere, i am seeing a very common theme and it's one i don't like AT ALL and i feel it gives bitcoin/crypto a bad reputation in general.
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
Some exchange competitions are running not healthy, for example the participants must spam the network to send tokens in many transactions.
This is surely can causing network congestion, ETH gas price was increasing so much when the competition running.
For now, i guess creating more exchanges will make crypto worse, just wait for the market to be in a good condition first.
With all of these new exchanges popping up here there and everywhere, i am seeing a very common theme and it's one i don't like AT ALL and i feel it gives bitcoin/crypto a bad reputation in general.
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
Each and every new business need some form of advertisement to show case the business to the world, thus it's exactly what the owners of new exchanges are into. They offer such contests and free give aways in order to drive traffic to their exchanges.
With all of these new exchanges popping up here there and everywhere, i am seeing a very common theme and it's one i don't like AT ALL and i feel it gives bitcoin/crypto a bad reputation in general.
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
Cryptocurrency exchanges are integral part of the world of cryptocurrency, exchange sites play a crucial role in the successful functioning of the various assets or tokens used. The exchanges are really helping to bring competition so most exchanges can do their best for crypto enthusiasts. What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
With all of these new exchanges popping up here there and everywhere, i am seeing a very common theme and it's one i don't like AT ALL and i feel it gives bitcoin/crypto a bad reputation in general.
What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
Bitcoin is very huge and potentiating crypto currency but on the contrary bitcoin is also decentralised crypto currency and thus does not have any proper authentic regulating body and this is the most probable reason why most of the countries are in against of bitcoin and countries including India has illegalised bitcoin in their nation and because of this illegalisation, using those exchanges for transacting bitcoin is now illegal in those countries who has ban banned bitcoin from their nation but still owning bitcoin is not illegal. What am i talking about? Trading competitions! Where you can win XXX amount of whatever crypto for being the most active or hitting a certain limit. Don't get me wrong, i'm sure there are a few people out there who will do alright from these deals, but i imagine the vast majority end up losing in the short term or the long run.
For me, its targeting the wrong audience. It does absolutely nothing toward our hallowed "mass adoption" hopes, and its encouraging gambling all so that the said exchange can make a profit in fees!
Yet we wonder why the SEC are so reluctant to give crypto its blessing!
Whats your thoughts?
I think competition held by exchange with cooperation with token. They just want to increasing transaction volume and i dont think its affecting on bitcoin price. Its just marketing technic
These techniques are being used in all business by different providers. I can thus say that this tested technique will keep being used by exchanges as long as it gives them fruitful results.
If you choose BTC / ALT trading pairs or want to own any Altcoins, then you need to hold Bitcoin to be able to purchase any Altcoin you like. Implementing these exchanges will increase the real transfer of Bitcoin, so it has a positive effect on it.
I feel because of the lack of regulation in the cryptocurrency space, this give room for exchange to have a major impact on market trend without any for of control, I feel policy and regulation must be in place in order to put crypto exchange into check, else the abuse will continue and this will discourage more investors.
We are now moving to a world based on decentralized structure. Some exchanges may be doing wrong. But the market itself will decide. The market will somehow find its own balance.
In my opinion, that doesn't matter. Because, maybe it's one way for exchanges to promote. To attract interest in the people to do trading on their exchanges
i think exchanges are just as bad or even worst than banks.
1st they both rip you off..exchanges more so. (look at at % they charge for selling/buying or even moving funds out..(imagine what they would do if they had the power and means to loan money using smart contracts for example.
2nd exchanges get "hacked" and you lose all your money.
3rd sometimes they just refuse to give your coins back by pretending theres some sort of glitch and by not answering "support" emails etc
4th exchanges are that 3rd party that bitcoin was created to do away with in the first place...so the purpose is defeated.
1st they both rip you off..exchanges more so. (look at at % they charge for selling/buying or even moving funds out..(imagine what they would do if they had the power and means to loan money using smart contracts for example.
2nd exchanges get "hacked" and you lose all your money.
3rd sometimes they just refuse to give your coins back by pretending theres some sort of glitch and by not answering "support" emails etc
4th exchanges are that 3rd party that bitcoin was created to do away with in the first place...so the purpose is defeated.
Cryptocurrency exchanges stand out as businesses on their own so how does competition on these exchanges not help bitcoin? In my opinion, I don't see anything bad about competition because it a way of drawing traffic. Competition happens everywhere, even in the fiat currency space.
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