Topic: OTC Trades.. "Chasing the Dream" (Read 177 times)

oh, i wasn't aware there was such a setting...i mean, i am a newbie to this forum myself!!
i will telegram you. 

I appreciate your blunt honesty about the reality of crypto's OTC market. Would love to gain some more insights from an industry vet. I tried to send you a private message but your profile does not allow private messaging from newbies.

Do you have a telegram or Whats App? If so, feel free to add me!

Telegram: @JonahMirsky
WhatsApp: 416-904-7466

I am not a professional trader by any sense of the word. I have never claimed to be one.
But I have been in the crypto space for a few years and have successfully launched an ICO, which is still going on and has liquidity in the market. And I know several OTC desks around the world and also personally know founding partners of large crypto funds and institutional investors in crypto. So though not a professional trader, I am familiar with the space.

With that said, the world of large volume OTC bitcoin trading is....... _____________
I left that blank because just thinking about it makes me sigh and leaves me speechless.
I have never encountered as much scum and human garbage in my life as I have in this space. It's the world of scammers, dishonesty, lies and cheats. The entire premise of matching a buyer and a seller (randomly) is chaos and irrational. Furthermore, bad players with bad intentions abound making it harder for the honest persons who genuinely try to make a deal. And for those honest people who are trying, I applaud you. "Chasing the Dream". Or nightmare is more like it.

I'm not saying there aren't genuine buyers and sellers. I actually know real buyers who want to buy large volumes of BTC. But the deal can't happen because this whole OTC deal begins on the foundation of mistrust. I don't trust you. You don't trust me. Show me your goods. Show me your money. It's a Mexican standoff. Whoever moves first, loses. Then you have the agents and brokers who lie and spread mis-information, further creating an aura of distrust and dishonesty. "Chasing the Dream".

It's exasperating to be in it, but the lure of large commissions make it impossible for the brokers to quit. Someone please create a blockchain where private OTC transactions can be recorded on the ledger. And all the bad players in the space can be weeded out.

For those continuing to strive to make deals, good luck to you.

"Chasing the Dream....."