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OMG Bitfinex stop Dash Trading

Discussion in 'General Discussion' started by Naruto, Aug 7, 2015.

  1. tungfa

    tungfa Administrator
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    upright and proud ?! definitely and always !
    [​IMG]

    i think we should build up another exchange as #2
    maybe that new UK one (https://www.livecoin.net) to make sure
    all volume does not end up on cryptsy ?!
     
  2. flare

    flare Administrator
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    Yep, we need another high volumne DASH/USD exchange - Bitfinex accounted for roughly 90% of that pairing...

    upload_2015-8-8_11-7-59.png
     
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  3. l3sny

    l3sny New Member

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    Basically I think people are rather buying Dash for BTC. Why bother with low fiat volume?
     
  4. flare

    flare Administrator
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    So we want to be #1 cryptocurrency while relying on Bitcoin as transfer medium? The fiat pairings are the ones which bring fresh money into the system - and therefore are more important than BTC pairings.
     
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  5. alex-ru

    alex-ru Grizzled Member
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    Because we need new people who want to buy Dash without teaching them "what is Bitcoin" and "why Dash [doesn't work] without Bitcoin"
     
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  6. flare

    flare Administrator
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    Q: "Where can i buy this ... Dash?"
    A: "Actually you can't, you need to buy Bitcoin first and then exchange to Dash"


    I don't think people like to have this kind of discussion anymore :)
     
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  7. Naruto

    Naruto Member

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    what is "Capitalist" ?? Is this a payment method?! visa and master deposit is good but i think it will be very expensive!
     
  8. l3sny

    l3sny New Member

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    Ok flare I got your point. We need a good Dash/USD exchange indeed.
     
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  9. Naruto

    Naruto Member

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    In order for merchants adoption. We need a higher trade volume towards fiat. Cos most employees don't accept crypto-currency as a salary!
     
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  10. flare

    flare Administrator
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    All good :)

    Thing is that one and a half year ago it was one of our top priorities to get fiat exchanges to list us - now we can't turn around the delisting from Bitfinex as "Nah, fiat pairings don't matter, they were low volume anyway"
     
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  11. alex-ru

    alex-ru Grizzled Member
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    "Capitalist" is one more "Russian :cool: project"
     
  12. l3sny

    l3sny New Member

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    The exchange that takes Dash after bitfinex may benefit as even this small volume has to go somewhere. People are already asking to recommend them a good USD/Dash exchange. The trick is to transform a negative situation into a positive outcome :)
     
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  13. freckleg

    freckleg New Member

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    I think without margin trading Dash was bound to have low volume against lite coin and Bitcoin. It would be very interesting to bring the bitfinex volume to btc-e or other, volume would then not be impaired by the possibility of margin trading of other cryptos
     
  14. Naruto

    Naruto Member

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    Thanks
     
  15. balu

    balu Well-known Member
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    off

    moli: There will always be community members overreacting, spreading incorrect information, getting into flame wars with others, etc. This cannot be prevented sadly.

    This is why there has to be a line between team members and the community. Due to the open-source nature of the project this is infinitely more difficult than in a traditional business scenario.

    I believe all we could do is educating the community about the drawbacks of such undesired behaviours (only a fraction of the community members can be influenced this way), and making it 100% clear to the public who is involved in the project and on what level.

    /off

    I'm also sad to see Bitfinex leaving Dash, but it's a perfectly understandable business decision. If they really get ~1500$/month from Dash trading, it doesn't even cover the costs. But exchanges come and go, this is normal. If there is a demand for trading Dash, another exchange will fill this gap. All we need to focus on in generating demand, which can be done by increasing the utility of the currency.
     
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  16. l3sny

    l3sny New Member

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    From the business point it is a wrong decision for few reasons. First because bitfinex has lost the opportunity to make more money in fees in the case of significant increase of the capitalization/volume of the Dash market. Second is that some Dash users who are also BTC/LTC users may simply stop using bitfinex driven by negative sentiment so less fees. Third they also demonstrated a sort of wrong decision making by introducing Dash/then DRK and now some 14 months later closing it off, not covering them in glory.
     
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  17. mjsrs

    mjsrs Member

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    moli calling idiots and toxic to others is not the best of the attitudes. I do respect you for all the dedication to the project but putting responsibility on those harasses is just ridiculous as it is when you ask others to shut up. Would like to remind you they also may be holders, right they are not Otoh but every holder counts and your bad attitude may make them dump the coins. balu give moli some education too, please.
    I agree with balu , reality is Dash is not creating the desired demand and I hope it changes with V12 and with the promotional video.
     
  18. UdjinM6

    UdjinM6 Official Dash Dev
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    Well, moli overreacted too :) but that's understandable imo. I guess she just hates to see when someone ruin some good possibilities by ..... not being patient enough :rolleyes:
    But you can't ignore the point that some people are just jumping everywhere demanding "I want this! I want that!" or "You should do this NOW!" or "Your exchange/wallet/service/whatever sucks!" while they have no idea how things actually work, what it cost to keep things running or make changes in production. Most of them never hosted a single pool/explorer (not to mention exchange) and they still feel like they are legit to say what/when/how service provider should do. This can really make some people pissed off. I hope we as a community can address and solve this issue too however. :)
     
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  19. tungfa

    tungfa Administrator
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    https://dashtalk.org/threads/do-not-be-a-bully.5845/
    :)
     
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  20. mjsrs

    mjsrs Member

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    UdjinM6 I understand what you are saying but I think when someone is providing a service and getting money with it the clients have the right to say what they think about what they are paying for. If I was on the business side I would like to know what people were demanding to keep up with the customers. With money comes responsibility.
    And again if those tweets were the reason for delisting Dash is because they lost volume since then, what tells there were more people thinking the same and they should have reacted to it if they care about those customers.
     
  21. dasherandprancer

    dasherandprancer New Member

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    Dash goes up... Dash goes down... It's the way of the market.
    Hold strong ... Dash will come back! We've got great devs and great vision!
     
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  22. bluebit

    bluebit Active Member

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    DASH X
    An exchange where you can buy/sell Dash from your mobile phone. You set the fee rate. See people and business around you on a map.


    Not a developer, but I want this. I would pay to download this app.
     
  23. UdjinM6

    UdjinM6 Official Dash Dev
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    Hmmm ... https://www.bitfinex.com/pages/announcements/?id=51
    Wow :confused:
     
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  24. yidakee

    yidakee Well-known Member
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    Needs a little recent-news updating... but in any case;

    https://www.dashpay.io/exchanges/

    .
     
  25. moli

    moli Grizzled Member

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    What do you mean "our "MTGOX" ( Criptsy ) is still kicking so please get into proportion" ?
     
  26. moli

    moli Grizzled Member

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    I think what you've said is confusing and can be seen as a false accusation to Cryptsy. MtGox is a bad name for crypto and i wouldn't label Cryptsy as "MtGox".

    And whatever you are trying to say here is even more confusing: ""get into proportion" is refered to those who see Bitfinex poor decision as a disaster"
     
  27. GrandMasterDash

    GrandMasterDash Well-known Member
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    Actually, f*ck the exchanges anyway... sorry but the exchanges and their philosophies are incompatible with dash and most of the other cryptos anyway. For example, which exchange offers virtually flat trading fees? - none, they all work on percentages - that's so old-school, I mean, isn't the flat-like fees of crypto meant to be one of it's selling points? How about anonymity? - nope, they all want id verification for all but the most trivial amounts... even shapeshift requires intervention under certain conditions.