Why are Exchanges promoting Trading competitions? - page 3.

Pursuer

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Quote from: MOBbrothers on December 17, 2018, 06:51:29 AM

One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments.

very WRONG!
the reason behind altcoins is pump and dump.
even if they weren't pump and dumps, what you said is still not the main reason for cryptocurrencies! the main reason is for them to be used. so they should have encouraged the users to adopt the coin as a "currency" which is in their name also. and encourage merchants to accept their coin as payment as some projects are doing with little success.

Quote from: MOBbrothers on December 17, 2018, 06:51:29 AM

Are their no effects of these to the community and the project developers?

a project must be solid enough so that it is not affected by how people are using it! and also be free enough so that anybody uses it anyways they like.

LeGaulois

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The idea of cryptocurrency isn't to make people hodl a coin and sell it later. You got it wrong, a currency is to be used as a currency,..
Trading platforms run competitions but it's just to promote their new trading pair added. Nothing more, it's just a marketing trick to encourage people. In the same way that a merchant site can offer a discount if you subscribe to their newsletter.

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Are their no effects of these to the community and the project developers?

Like what? global warming? unemployment?

hugeblack

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I didn't understand your intent or maybe because I think "convince investors into storing their tokens" is wrong, I understood you wrong.

Most of the projects are for quick sale, and the roadmap of the project is planned for a year or two and not long-term projects.
I remember that the developer team of one of those projects sold all their tokens as soon as the price went up. Grin

All that is happening now is that the platforms are trying to be central banks and sell people more illusion.

gilangIDR

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Quote from: MOBbrothers on December 17, 2018, 06:51:29 AM

One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?

For me, the increasing number of exchanges will definitely make the platform exchanges try to provide the best service. This is a healthy competition and we as Traders certainly want the best exchange service. So this will not disturb investors and even can cause a sense of giving the best from the exchange platform. There will be no manipulation because all exchanges will compete to attract Traders to transact on their exchange.

MOBbrothers

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One of the reasons behind the cryptocurrecny projects is to convince investors into storing their tokens for the future. long term investments. thereby holding the tokens and avoid trading. currently, trading platforms are engaging into trading competitions apparently to promote their platform and also the tokens as well. Are their no effects of these to the community and the project developers?

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