OMG Bitfinex stop Dash Trading

tungfa

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Don't get me wrong, i don't think that they'll revert it - but at least we can leave the building upright :)
upright and proud ?! definitely and always !


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 ?!
 

l3sny

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Jul 29, 2015
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Basically I think people are rather buying Dash for BTC. Why bother with low fiat volume?
 

Naruto

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Dec 26, 2014
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upright and proud ?! definitely and always !


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

Naruto

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Dec 26, 2014
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Basically I think people are rather buying Dash for BTC. Why bother with low fiat volume?
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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flare

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May 18, 2014
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Ok flare I got your point. We need a good Dash/USD exchange indeed.
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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l3sny

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Jul 29, 2015
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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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freckleg

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Jan 24, 2015
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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
 

balu

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Oct 9, 2014
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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.
 

l3sny

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Jul 29, 2015
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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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mjsrs

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Aug 6, 2014
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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.
 

UdjinM6

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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.
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. :)
 

tungfa

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

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Aug 6, 2014
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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.
 

bluebit

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Jun 4, 2015
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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.
 

UdjinM6

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Hmmm ... https://www.bitfinex.com/pages/announcements/?id=51
BitLicense Restrictions for New York Customers
Posted: August 07, 2015 22:44


Due to financial regulation changes in the State of New York, certain Bitfinex services are no longer available for New York Residents.

Pursuant to Title 23, Chapter I, Part 200 of the New York Codes, Rules and Regulations (the “Regulations”), persons may not engage in Virtual Currency Business Activities (as defined in subsection 200.2(q) of the Regulations) involving New York or New York Residents (as defined in subsection 200.2(h) of the Regulations) without a license issued by the New York Department of Financial Services: the so-called 'BitLicense.' The effective date of the Regulations is June 24th, 2015. Persons already engaging in activities that require a BitLicense must apply for a license by August 10th, 2015.

Bitfinex is not applying for a BitLicense at this time. Accordingly, Bitfinex is modifying account privileges for New York Residents, effective August 10th, 2015.

Account & Service Changes
All New York Residents must withdraw all cryptocurrency balances currently held on Bitfinex by 4:00 pm EDT on August 15, 2015. We strongly encourage New York Residents to specify ‘Locked Withdrawal Addresses’ that we will use to automatically sweep any funds that may be sent to one of your deposit addresses in the future. Failure to set these Locked Withdrawal Addresses will result in the automatic liquidation of future deposits.

As New York Residents may no longer keep cryptocurrency balances, they will no longer have access to the following features on Bitfinex.com.

  • Exchange: New York Residents cannot use any of the features in the ‘Exchange’ tab on Bitfinex.com. They cannot exchange USD for BTC or LTC, nor can they exchange BTC for LTC and vice versa.
  • Margin Trading: New York Residents cannot use cryptocurrencies as collateral on margin positions or use the claim position feature. Also, trading in the LTC/BTC pair will be restricted.
  • Swaps Market: New York Residents cannot offer BTC or LTC swaps.
We understand that this is an inconvenience, but users who do not remove their cryptocurrency holdings from their Bitfinex accounts by midnight UTC on August 15th, 2015 will have their cryptocurrency balances exchanged to USD at market rates. The resulting USD balance will be available in customer accounts for customers to access at any time.

We sincerely apologize for any inconvenience or issue that this may cause. We continue to monitor the evolving regulatory landscape in New York and elsewhere in an effort to offer superior service, consumer protection and security, and to remain compliant with applicable laws.
Wow :confused:
 
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moli

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Thanks Yidakee...

I'm impressed by the amount of Dash exchanges.
i personally trade dash @ cex.io and cryptsy...

i want to remind everybody how MTGOX was for bitcoin...
and Bitcoin is still kicking...

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

moli

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MTGOX was the magor exchange for Bitcoin
Cryptsy is the magor exchange for Dash

"get into proportion" is refered to those who see Bitfinex poor decision as a disaster ...
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"
 

GrandMasterDash

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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.