Topic: Crypto exchanges not helping Bitcoin! - page 4. (Read 1311 times)
It's completely your choice where you want to invest your money or not. ICO s are always lucretive but it's your duty to study coin prospect. I agree with you that currenly lots of coins are increasing BTC volatility.
I do not think this the news to get worried about. There is no wrong with competition as it is everywhere no one can deny that. So this not going to impact bitcoin’s reputation
Firstly the purpose of an exchange and bitcoin is quite different. So don’t mix them both. Now coming to competition it is quite normal so your conception is pretty wrong actually.
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?
I think new exchanges just want to create awareness about their exchange, but using not appropriate ways.
a month ago, a certain exchange holding a competition and causing ethereum network congested. If you want to send eth or tokens at that time, you must use high gas fee.
These are the promotion methods imposed by competition
How will exchanges attract traders?
No harm in that
How will exchanges attract traders?
No harm in that
Crypto exchanges are not helping bitcoin because exchange rate are not encouraging at all. This doesn't encourage people to d OK exchange because of huge amount of money involved.
Most of crypto exchanges main purpose is profit also exchanges provide platforms to its investors for trading and exchange other currencies they never target special peoples also many peoples are making and loosing money on exchanges like Bittrex, Binance, Poloniex & they are not offering any winning amount. Every crypto exchange is depend on bitcoin because they get investors from bitcoin so why they not support bitcoin.
I think there are many falls in the market that may be all related to trading. We all know that coins are not safe to store on an exchange. The exchange often misappropriated our coins. When each market has FUD, the exchange may play the role of whale and quickly sell coins and buy the coins when the price is very low. . In addition, the exchange still has many opaque operations in futures trading.
There is nothing wrong with any kind of trading competition. Competitions are always good for market and people would do more than usual to win the rewards of competition. Where is the bad reputation?
I don't see the effect of some of these policies on Btc itself. I was hoping you were going to talk about the frequent cyber attack on the exchanges and how investors are losing their coins and hence preventing more investors from coming in.
Yeah i am also agree with. I have noticed these things too. Actually i am confused about their motive. They should spread positivity about crypto.
Why should they spread bad reputations for bitcoin or crypto? Their main target is gaining profit from these coins so i don't think they will do that.
It is good that you have highlight your observation with is happening on the new exchanges that is popping up these days. They will claim to be running a promo to attract users to their platform. I will not blame them despite the enticement every trader should know their level of experience and standing before trying to gamble with the new tempting exchanges.
It doesn't necessarily lead to a bad reputation. Every individual makes his or her own decision before trading.
I think Is their is a contestant there is a confront. So if digital market have open platform for every one then there will be a lot of asset. Investor will judge compare each other and they will go after the best. So if it happen they no one can stop us.
It doesn’t seem wrong to me. Because crypto exchanges are came to do business. They only care about their profit. So i don't think they are against bitcoin.
Contests in trading platforms are something usual, not on the crypto market only but with the traditional trading sites too. I remember about one that was offering a Lambo to the winner (it was Instaforex maybe) a few years ago. I don't see anything wrong and it's not giving a bad image to cryptos. If it does it's about the trading platform (fiat or cryptos, no matter). It's just a method to encourage and motivate the users. BTW, banks do the same
\\It is a method to encourage users, but usually people doubt contest like that, they don't think they are real, specially when the prize is so unrealistic,and not very trustworthy
it is not targeting any "audience" outside of those that are already in. so there is nothing negative about it in my opinion. for example a new exchange that is giving rewards to the top traders will get the traders that have already been trading a lot in another altcoin exchange. not someone from outside that never knew what altcoins are. look at Binance for example. it got all the volume from the scammy Bittrex and terrible Poloniex and became number 1.
BTC is a totally decentralized crypto-currency which will not act as other so-called currencies in the world. Though gambling, trading for good and bad, gaming etc are done with BTC, that doesn't mean BTC is liable for that as may you have to accuse a car to kill a man, not the driver. Moreover, who told you to trade if you are so conscious about it, that means you are not compelled to invest your time and assets if you dislike.
Is their is a competitor there is a challenge. So if digital market have open platform for every one then there will be a lot of investment. People will judge comparing each other and they will follow the best. So if it happens they no one can stop us.
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