Why is everyone starting an exchange?

gweedo

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Quote from: BBQminter on January 17, 2014, 05:21:59 PM

Because even after being hacked and losing your money, some of you are dumb enough to put more money in the same exchanges being run by grade school children. Those grade school children enjoy your money, and will continue to take it by putting together exchanges.

I agree it is like web wallets it will also be something people support ;( sadly.

gweedo

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Quote from: LiteCoinGuy on January 17, 2014, 03:37:34 PM

more exchanges? even better Cheesy

95 % will fail but there will be some good ones in the end.

95% will fail? You are being kind, I would say about 98% at least. Or 98% cease operation would be the correct statement.

Exchanges aren't hard to build I can do it in a week, it is just that you are dealing with a lot of money and people are going to make you a target so you aren't on your security game, you are done. I just don't know why people want that kind of stress.

gweedo

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Quote from: Ruzka on January 15, 2014, 09:13:12 PM

Because it's profitable, they just don't realize it's a hard thing to run.

Actually very few are profitable, if you done the right way, of course you can bootstrap and force it profitable but then if someone realizes you are doing that then it could ruin your rep and trust.

E.exchanger

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NEED CRYPTO CODER? COIN DEVELOPER? PM US FOR HELP!

Exactly and after the gox mess there are atleast 2 new opening everyday i don't why everyone is trying so hard to replace mox and if they are not then why everyone is either getting into building an exchange or announcing a new coin Tongue

people needs to be creative or else a time will come when every city will have their own coin and local exchange Grin

Sindelar1938

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Mimesis is easier than genuine innovation
Prob cos that's all they can come up with

BBQminter

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Because even after being hacked and losing your money, some of you are dumb enough to put more money in the same exchanges being run by grade school children. Those grade school children enjoy your money, and will continue to take it by putting together exchanges.

LiteCoinGuy

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In Satoshi I Trust

more exchanges? even better Cheesy

95 % will fail but there will be some good ones in the end.

Ruzka

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Because it's profitable, they just don't realize it's a hard thing to run.

Cryptopher

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Keep it dense, yeah?

No doubt that there will be more of these new "exchanges" performing vanishing acts overnight. Along with all them coins they gone and stole.

skull88

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Quote from: gweedo on January 15, 2014, 03:11:05 PM

I just don't get it, their are so many better ways of making bitcoins and yet people still are going to copy the exchange model over and over. Today I have seen 2 post on Odesk for virtual coin exchanges. Like come on guys we need creative people not 1000000 exchanges that do the same thing.

That's exactly what we need, millions of exchanges that do the same thing!

The reason is simple, taking down one exchange is easy, taking down millions is not.
But we need a way those exchanges are linked together, because millions of exchanges without liquidity are useless.

techgeek

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Maybe they feel like they can do it better? with a better service?

Who knows, it can be mark from facebook man, saying heck I invested so much in this.

Mind as well start really good exchange.

Kiki112

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Quote from: ?? on ??

Quote from: Kiki112 on January 15, 2014, 04:57:04 PM

isn't it logical?
because they can make money from it Cheesy

they take a share from every transaction which makes them income, why wouldn't you start an exchange?

You need a large volume of transaction none of these sites have that much volume where they are making that much.

they're starting it in hope of growing in the future and that they become the new mtgox Wink

Kiki112

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isn't it logical?
because they can make money from it Cheesy

they take a share from every transaction which makes them income, why wouldn't you start an exchange?

Holliday

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Possibly because no one has gotten it right yet?

guybrushthreepwood

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Quote from: gweedo on January 15, 2014, 03:11:05 PM

I just don't get it, their are so many better ways of making bitcoins and yet people still are going to copy the exchange model over and over. Today I have seen 2 post on Odesk for virtual coin exchanges. Like come on guys we need creative people not 1000000 exchanges that do the same thing.

Probably because they want coins and don't have any better ideas.

gweedo

legendary

Activity: 1498

Merit: 1000

I just don't get it, their are so many better ways of making bitcoins and yet people still are going to copy the exchange model over and over. Today I have seen 2 post on Odesk for virtual coin exchanges. Like come on guys we need creative people not 1000000 exchanges that do the same thing.

Topic: Why is everyone starting an exchange? (Read 759 times)