Crypto exchanges not helping Bitcoin! - page 2.

Babyrica0226

sr. member

Activity: 854

Merit: 252

Quote from: Retty on August 03, 2018, 09:26:39 AM

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! Roll Eyes

Whats your thoughts?

In my idea about the exchange, for me its helping bitcoin to increase though majority of them so far are more on investing on crypto/altcions because through traders who use different exchange platform the demand also increase especially when bullish comes up in an unexpected moment in the market. Now according to what you had stated no one I guess is pushing you to make trade in the platform either. Besides, you can stop at any moment if you don't want to lose your capital or coins you bought.

Blocktopian88

jr. member

Activity: 80

Merit: 1

Yeah. I believe exchanges are making bitcoin centralized.

Dexion

full member

Activity: 812

Merit: 101

yes, your assumption is correct, exchange only facilitates us to provide crypto trading services. but at least every exchange has helped bitcoin to become more popular with the volume available in each exchange.

if public demand is higher, then bitcoin will create a good market and exchange that has a high bitcoin trade will have a good rate.

jaloto

newbie

Activity: 25

Merit: 0

Sorry, but I disagree. Crypto exchanges are wonderful as they attract newcomers to the crypto world. Where’d we all be without exchanges? How’d we all get our first coins? Miners are the very small caste of crypto community so far as the majority simply purchases coins. Some exchanges do a nice job of simplifying the process of getting crypto for fiats. For example, my first crypto, which I obtained from CEX, was xrp (https://cex.io/xrp-usd). There are only a few buttons and clear instructions for newbies, so they don’t feel confused. Surely, there are some speculations but, c’mon, nobody forces you to trade! Let it to whales or experienced investors if you don’t like this approach. Don’t blame on exchanges, they are useful for the community.

KryptoKai

full member

Activity: 630

Merit: 100

These competitions weren't that common before, but now there are so many new exchanges entering the market that they need something like this to keep them going. If not then people will trade elsewhere and the exchange will not make any money

TravelMug

hero member

Activity: 2632

Merit: 833

Quote from: Retty on August 03, 2018, 09:26:39 AM

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.

I don't know where you get the idea that exchange are giving out a bad reputation in general. For me, they're putting crypto to the next level.

Quote from: Retty on August 03, 2018, 09:26:39 AM

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.

Competition is healthy. Back then we only have Mt. Gox as the dominant trading exchange. But what happen afterwards really damaged the market (Mt. Gox heist), why? Because traders doesn't have any options that time.

Quote from: Retty on August 03, 2018, 09:26:39 AM

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!

Only gullible people are going to enter without doing their homework. If there's someone to blame for 'gambling' here then its their fault.

Quote from: Retty on August 03, 2018, 09:26:39 AM

Yet we wonder why the SEC are so reluctant to give crypto its blessing! Roll Eyes

Whats your thoughts?

SEC doesn't like the market because its prone to manipulation and not because of trading platforms popping out like mushrooms.

khaled0111

legendary

Activity: 2744

Merit: 3097

Top Crypto Casino

Those exchanges can not affect Bitcoin price.
Such prises are offered by exchanges that want to attract new users, any reputable exchange won't do so.
Big exchanges have real tradors trading billion of dollars and all they get is their fee, any thing expect that is being done by new exchanges(as I montioned with Zero effect on Bitcoin price).

St4yInTh3D4rk

sr. member

Activity: 686

Merit: 264

"STAY IN THE DARK"

It is true that exchanges are not helping the bitcoin towards the mass adoption in direct way but they also have some contribution towards it like if bitcoin is crypto currency which has value but not accepted as form of payment so if there is no exchange then it won't be this much popularity for bitcoin so it helping to make trust towards the bitcoin.

betty11

copper member

Activity: 448

Merit: 3

I think this is actually a way of getting traders know the the project and they will eventually get many followers and this will bring liquidity to the project market, which is a good strategy not bad. But one thing one should be careful of is the seriousness of the project team that they are not just out to "drink" BTC of traders and stay goodbye to a resort.

Natnat213

jr. member

Activity: 153

Merit: 1

On my opinion of it they are doing manipulating it. And there are some of them that is making their own way of it because they want it to make it in their self and this is not heplful for us.

JC btc

sr. member

Activity: 770

Merit: 253

Quote from: Stephen.88 on September 29, 2018, 09:14:51 AM

In the market next year, Bitcoin will grow as a whole. In fact, the days of centralized exchange can be numbered as decentralized trading floors become more user-friendly. With what I see, bitcoin does not have any reputation, mostly I do not think if anyone has the power to boost bitcoin on the second exchange market there is not any power to increase the price. The only thing that can really improve bitcoin and help it revisit the government and others is that bitcoin is trusted, showing them in our own experience and for example that it is something good and it's not a bad thing.

That is for sure I know that one day it will really come! And as far as the crypto exchange I know that it still has some part in the crypto world, for sure that it has an impact and it is not useless, so we should not think that way, they are a big help actually.

Stephen.88

newbie

Activity: 39

Merit: 0

In the market next year, Bitcoin will grow as a whole. In fact, the days of centralized exchange can be numbered as decentralized trading floors become more user-friendly. With what I see, bitcoin does not have any reputation, mostly I do not think if anyone has the power to boost bitcoin on the second exchange market there is not any power to increase the price. The only thing that can really improve bitcoin and help it revisit the government and others is that bitcoin is trusted, showing them in our own experience and for example that it is something good and it's not a bad thing.

tetyulfania

member

Activity: 653

Merit: 10

Is not cryptocexchaneg will help bitcoin, but investor are have big effect for helping bitcoin to be higher price, just see how can bitcoin will growing up without buy and invest all investor. Many people still sell their coin and make it drop.

SistaFista

sr. member

Activity: 1638

Merit: 251

Quote from: Retty on August 03, 2018, 09:26:39 AM

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! Roll Eyes

Whats your thoughts?

If the exchange holding a trading competition like that, actually it will only make the coin network very busy. If you look at some token listing competition months ago, it was causing the ETH network congested. The gas fee was very high and many transactions failed.
Creating more exchange won't help spreading the awareness of crypto i guess.

RubiAgarawal

newbie

Activity: 518

Merit: 0

The bonus mentioned in the post, it is not mandatory to participate in the trade. If someone wishes to not to go for it, then they can do it. Since no one is being forced to participate in it. There seems to be nothing here to make an issue out of it.

jpnl0008

jr. member

Activity: 364

Merit: 1

i really think everything concerning the price of bitcoin is 95 percent driven by the exchanges as the exchanges are the working with the decentralized system which has different traders offering different trading options and the prices in which they bid for are low and that is not at all helping the bitcoin

ExceedBlue012

newbie

Activity: 70

Merit: 0

They are doing this kind of thing because it is running through a bad situation and also they can not take risk because the price fall frequently.

cryptoabc

newbie

Activity: 420

Merit: 0

We cannot force in this market. The market is a decentralized market. It is not obligatory to take part in this bonus rather it is voluntary thing. We should not make this an issue to argue.

Al Muhaimin

newbie

Activity: 106

Merit: 0

in my opinion it is not unhelpful but quite helpful, this can still be maximized.

gharjas2517

newbie

Activity: 114

Merit: 0

We can note that the number of exchanges has increased rapidly in the last half of the year, while the value of the whole encrypted market has been declining. That means these exchanges are making huge profits, and we can even think of them as whales, robbing the industry of a lot of wealth. I suggest that you boycott these exchanges and keep all your coins in your wallet.

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