Sorry We are Closed - page 8. | Bitcointalksearch.org

shimbark123

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

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

Competition in business is a very healthy scenario in business ventures. It makes other people look for other services that offers another high quality of service. My answer is yes. If that is the need of having a mass adoption in the world then more exchange go.

Mrsparks

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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

Exactly my point.. Too many exchange little adoption.. We can't have the same people trading on the all exchange over and over again.. If new traders and users of cryptocurrencies do not emerge we will be seeing a lot more closure of exchanges soon..

judyrob

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A Korean exchange closes to create a new exchange that has better and more developed services. This will not make another exchange to follow in his footsteps if he has the right service to the customer. Every exchange has a service and the customer will feel satisfied, the exchange will give a more positive impression.

Dart18

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Competition is good but too much is not.

It ends up just like your example being bankrupt or another reason just so they could get out with their profits.
Better go with the trusted ones. But, although they are one of the top better to secure everything. Do not stay in an exchange for a long time.
Make it a hobby to put it back at your cold wallet as much as you can when you are not trading.

florac9

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Well I'm sure that in the future we will see many more exchanges that will close down due to one reason or the other and we will keep seeing many more newer exchanges as well but where I'm confused is why do we need this much exchanges?its way too many

serjent05

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It seems the mistake they made last January create a heavy toll on them. I think this plays a major reason why they are closing.

(from the article)

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

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

Monopoly is a bad thing. I believe competition is better so that exchanges can give their best for the customer. We need more exchanges that gives new ideas and better service than existing one.

befriendmywater

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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

It is definitely sad news for traders in Korea. New exchanges are always necessary for the crypto market because it creates competition between exchanges. Competition will motivate more technologically advanced exchanges and they will devote more to the market over time.

rijaljun

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Many projects try to build a new exchanges and claim that they are the best. I think these exchange will promote crypto in wider range and more new people will know about crypto and come to crypto space. It means that the total volume will be higher than before. By time, when the exchange indurstry become tough one by one will announce that they will close their operations and only the real strong exchanges left.

MonsterV

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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

Depends on technology in my opinion, because each exchange has different technologies and features and this is what distinguishes between other exchanges.
We will need a new exchange when the old exchange has never updated its features, because there are lots of out-of-the-way exchanges that are less than perfect like not having cut loss, security, etc.

Jating

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Quote from: Thanasis on April 22, 2019, 03:15:53 AM

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

Definitely we need more crypto exchanges then only we can get better experience while trading if there is no competition between exchanges then we may face may issues and low support.Many new exchanges popping up and gaining reputation and old exchanges are also losing their reputation which clearly shows if an exchange is not good then people might avoid it.

Binance had set the bar high, so it's survival of the fittest. Just sad to hear another exchanges saying goodbye, good riddance.

Anyways, there are still hundreds running around and I'm sure there will be more coming in the next couple of years. There are lots of money in this market, that's why I'm no surprised that a lot of investors who are willing to put up exchange and this is good for the ecosystem in the long run.

Thanasis

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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

Definitely we need more crypto exchanges then only we can get better experience while trading if there is no competition between exchanges then we may face may issues and low support.Many new exchanges popping up and gaining reputation and old exchanges are also losing their reputation which clearly shows if an exchange is not good then people might avoid it.

Blowon

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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 never heard the exchange like a familiar, but third largest exchange in korean enough surprising me for closing down.

For my opinion for answer your question, Why we need a marketplace to buy-sell or place for trader. on other side, tokens or coins have born and need place to make it be growth,.

yeniruieni

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The more exchanges I think the better. So that new coins can have a great opportunity to enter on every exchange. With the Stock Exchange closed, of course, open opportunities for other exchanges to increase trading volume.

asayoyaasa

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We already have too many exchanges tbh, I mean there 255 exchanges listed on coinmarketcap. Let's be honest here, how many exchanges you use daily? For arbitrage maybe or just do some daily trading, me myself maybe only use around 5 to 7 exchanges, but have more option is nice anyway. But since there some IEO around, many new exchanges born. So you better be careful before registering to any of those exchanges, not only your balance maybe not safe but your credential can be stolen.

Woolles890

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With so many exchanges we keep choosing exchanges that are indeed safe and comfortable. Competition in exchange makes us and the team always provide good service to continue to survive. If the exchange with the service is not good and invalid it is appropriate to close.

wumBowo

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the exchanges closed because of how bad they operates.
but i must say it's look like local korea exchanges now not have a great power to control price like they ever had back on 2017 and 2018 especially after the declined price of btc.

joshua123

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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

Yes we need a lot of exchanges so the crypto can grow and expand nationwide. Too bad for such a big exchange will closed but dont worry if there are some leaving and closing there are some who are born to serve. There are lots of potential projects that are now starting and operating. I guess we can call this era the exchange age. Since most exchanges are now doing some IEO and people are really participating knowing the risk on trading.

Golftech

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Quote from: Yaunfitda on April 22, 2019, 01:49:37 AM

I believed in the old adage that "more is better', meaning more competitions around, more options for everyone in crypto sphere. Remember that we are also growing, so it's about time that exchanges are born as well.

The only drawback is that with so many exchanges around, there could be reasons for some of them to pull a exit scam. So just be careful, and also used your common sense specially dealing with new exchanges.

That point is valid, the more the better, competition is good for businesses that play well we seen things currently happened, old exchange got hacked or decide to close down then another exchange will be introduced, what we have to do is always to study and analyze the possibilities, if exchange have something to offer and the team around is fit enough to run the business then you can check it out and try some trades.

muslol67

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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

Every new exchange opened makes it difficult to keep track of the transaction volume in my opinion. Instead, a few but powerful exchanges are more suitable for today's conditions.

But the biggest feature of the system is to be decentralized. As such, in normal circumstances, the greater the exchange rate, the better. I think it may be useful to increase the number and use of DEXs in particular.

green547

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Good riddance another badly run exchange has gone down, let own the strongest survive. That is how a free market is supposed to function. Now we need to target exchanges faking volume on coinmarketcap.

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