Sorry We are Closed - page 6. | Bitcointalksearch.org

Ayiranorea

sr. member

Activity: 1246

Merit: 255

Leading Crypto Sports Betting & Casino Platform

Quote from: arjuna BTC on April 22, 2019, 12:34:04 AM

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

As the widening of the cryptocurrency network continues there is need for more and more cryptocurrency exchanges. The same is getting fulfilled by more exchanges that are being developed with varied features. One in ten succeeds reaching the good number of users, because it is a big industry where one cannot stand high without potential investors.

cryptolidus

member

Activity: 406

Merit: 10

The number of exchanges depends on the overall market situation and the total trading volume. There is no sense
having thousands of exchanges with the current market cap and fake volumes on exchanges and no liquidity.
The market will decide which ones will survive.

10BTCaDay

full member

Activity: 770

Merit: 100

Oikos.cash | Decentralized Finance on Tron

Oh yes. Now the exchanges really have a very bad time. Even very large exchanges are closing now. the market is not very unpredictable time

Prompyboo

sr. member

Activity: 807

Merit: 251

World's First Crowd Owned Cryptocurrency Exchange

Of course, people have already understood everything for a long time that there is no point in creating new exchanges. people just need to improve existing exchanges

livingfree

hero member

Activity: 2884

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Hire Bitcointalk Camp. Manager @ r7promotions.com

IMHO, we need more of them so that competition is everywhere and it will make the market healthier. And it would be a challenge to the existing exchanges to keep improving themselves and will determine on what shall the customers really need. I didn't used coinnest but if its the third largest crypto exchange on South Korea then it must be big. To the users of it, withdraw your funds quickly as you are aware of the closure before the said date of closing.

okala

full member

Activity: 980

Merit: 114

That is a timely notice to all they user but the exchange did not state the reasons for the closer of the exchange. And from they notice users are given uptil April 30 for withdrawal from the exchange and the minimum amount have been lowered down to assist the process.

xOdiumNostrumx

full member

Activity: 1064

Merit: 101

Definitely not in the space of centralized exchanges. But the adoption of decentralized ones is a necessary step forward to better anonymity and safety. But it will be hard to compete with Binance DEX and the Nash (ex NEX) newcomer, Resistance could also be a sizable player in this segment.

oriontab

jr. member

Activity: 336

Merit: 3

“It is a natural result of a decrease in trading volume. Both regulatory issues and business decisions have served as a background for this decision.”(excerpt from the article)
I think it has more to do with bad business practices rather than trading volume.Many upcoming exchanges are hopeful that a bull market will ensue soon and they will be in profit.

sabine80

member

Activity: 728

Merit: 14

too bad to read that coinnest has to close. i did not use the exchange often, but it is a pity when a crypto exchange has to close. but at the same time it makes room for new, good exchanges and that is not bad either.

Hans Groober

member

Activity: 276

Merit: 10

Quote from: arjuna BTC on April 22, 2019, 12:34:04 AM

my questions is, does we still need more exchange in this industry ?
thank you

We need more decentralized exchanges that allow people to trade without registering and passing through KUS.
Recently, there have been frequent cases when stock exchanges are blocking people's funds demanding to go through CUS or provide data about money.
That is why decentralized exchanges will become increasingly popular.

zgrdyg

full member

Activity: 602

Merit: 105

Quote from: arjuna BTC on April 22, 2019, 12:34:04 AM

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

I really think we don't.

Every new day an exchange borns and put fake volume. And after that they went to projects telegrams and begs some btc for listing. We really don't need anymore shitty exchange.

grifinmch

sr. member

Activity: 756

Merit: 250

Quote from: ParabellumLite on April 22, 2019, 03:27:04 PM

I heard that Coinnest's CEO was arrested, which is one of the reasons why exchange was closed. And you also know that there are many other large exchange companies, Coinnest is only a small part of them

A person's reputation does affect his performance, if the CEO is caught, the company will have a negative impact and this happens to Coinnest so that no policy can make it last. Team and community are also difficult to act on their own, this makes Coinnest users really have to leave it to continue with more potential assets.

ParabellumLite

sr. member

Activity: 560

Merit: 250

I heard that Coinnest's CEO was arrested, which is one of the reasons why exchange was closed. And you also know that there are many other large exchange companies, Coinnest is only a small part of them

yulchatar

full member

Activity: 910

Merit: 100

I think that there is no need for more exchanges than already exists. And undoubtedly, competition is also present. It's better to improve the quality of existing exchanges.

5ensei

full member

Activity: 728

Merit: 103

It is not the right time for exchanges to start, there isn't enough trading volume for them to make a profit. It would be better for them to raise funds privately and to create something that binance doesn't offer - e.g. a simple exchanges for n00bies

rosezionjohn

sr. member

Activity: 882

Merit: 301

Quote from: arjuna BTC on April 22, 2019, 12:34:04 AM

Cryptocurrency exchange Coinnest, once South Korea’s third largest exchange, is closing down.
you can read more here : https://www.coindesk.com/south-korean-crypto-exchange-coinnest-announces-closure

but, at this moment i see a lot of crypto exchange project born in this industry
my questions is, does we still need more exchange in this industry ?
thank you

Oh well good riddance to them. It's what you get when you f*ck up at the very beginning. The conviction of one of their official definitely played a role to the decrease in users interest.

Now to the question, do we need more exchange?
Since there was a report that majority of existing exchanges today manipulate their trading volume, we certainly need more legit exchanges.

Quote from: cryptobae10 on April 22, 2019, 01:58:31 PM

I think it’s still not a good news because at about 4 new exchange are launching each month
Which isn’t good for the crypto space

We need a situation where traders can get only safe true and secured exchange always

It's always good to have a competition, new exchanges pushes existing ones to keep on improving.

CLywaTeLb

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Activity: 770

Merit: 101

send and receive money instantly, no hidden costs

Quote from: funnec on April 22, 2019, 02:53:02 PM

Personally, i feel having more exchanges will give room for competition that will surely lead to the best service we can have from these exchanges.I will support more exchanges.

Apparently, you are from another planet. There are already so many exchanges, as many cherries on a tree. If we assume that all of them are not scammers, then soon there will be more exchanges than another listed assets. But this is absurd.

sandgluenick

full member

Activity: 644

Merit: 100

The project is still developing and if you ask if you still need an exchange, I think it's still because everyone in it needs each other to get a clear idea of the product idea. If the exchange of stop eating investors will be difficult to develop, I don't really know but in my opinion the Crypto room requires a clear project.

funnec

jr. member

Activity: 149

Merit: 2

Personally, i feel having more exchanges will give room for competition that will surely lead to the best service we can have from these exchanges.I will support more exchanges.

nikogluttonym

member

Activity: 171

Merit: 10

On the one hand, you do not need a lot of exchanges, all the same you choose for yourself one or two exchanges for trading. On the other hand, if there are no new exchanges in the market, a monopoly will come and there will be no competition and development.

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