Proposal: Business Development - Major Exchange
- Thread starter Ryan Taylor
- Start date
Once a major exchange lists DASH, other exchanges will feel pressure to do so (for free) in order to maintain competitive advantage.
Maybe but like David says, the arbitrage possibilities with InstantSend leave every other crypto dead in the water and that's not a small incentive. Pay close attention to the trading patterns and you can watch it happening, one exchange takes a big jump and... tick... tick... tick... an hour later a big flood of coins comes in to level it out again. For a while after the Chinese exchanges first opened I'd estimated roughly half the trading volume was from arbitrage, a constant back and forth as USD and CNY spreads fluctuated and boy where they making a killing. It levelled out fairly quickly as more got in on it but you've only got to glance at coinmarketcap to see there's ample opportunity to level it out more... if you're willing to take the risk of things moving while waiting for confirmations.
Once it was common to see a 10% gap between bids and asks, bots filled that gap and now it's very rarely more than the trading fee plus a fraction of a percent. Arbitrage between exchanges should be the same, no wider than the cost of moving coins from one exchange to another and bots should be filling it but they don't have the tools to do it safely, InstantSend is that tool. Maybe this will mean other exchanges come to Dash with their hand out but if it means Dash becomes the industry standard for arbitrage... Yeah, I can see potential in that.
Not necessarily. There has to be a first mover.
In any event, I'm sure they eventually would list us...eventually. I'd rather pay (remember, if not paid the money is just going to disappear, and I'm not seeing any competing proposals...) and skip the 2-3 year wait before our volumes are high enough to justify listing us for "free."
Voted yes, the feedback from Ryan is sufficient for me and also David reply (https://www.dash.org/forum/threads/proposal-business-development-major-exchange.12881/#post-112343)
mirrors my own opinion about this matter and the risks involved.
mirrors my own opinion about this matter and the risks involved.
Thanks @babygiraffe. The previous proposals like Lamassu and with this attached to Minotaur cause additional questions that might otherwise be assumed.
I too would like confirmation that this exchange will offer the ability to trade DASH/EUR as well as USD. I know I don't get a vote but I would like an idea of how big this is actually going to be, because IMO, without Euro trading, a huge proportion of DASH fans and investors are going to be left out in the cold.
DASH/EUR would be nice, but not sure anyone would be "left out in the cold" by it being a DASH/USD only pair. It's not like any existing EUR trading methods would go away or anything with the addition of a new exchange, even if it's US based. Having a major exchange give the nod to DASH would pave the way for other major exchanges, including ones with various other fiat on-ramps.
I would be happy with either dash/USD or dash/EUR, as long as it is in fact a major exchange that will increase access from fiat and be a stepping stone to more integrations.
Thanks just thought it would have been better to have that upfront since its easy to raise excuses on why not to continue listing and it might get ugly so I thought it would have been better to get this crystal clear but I guess we will cross our fingers!
Although there was a major integration today, this project is still underway, and the ‘major exchange’ associated with this proposal is still aiming to complete its integration by the end of March.
AnarchicCluster
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- Dec 22, 2014
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I would laugh if all the major exchanges but one ended up voluntarily listing us, and the major exchange of this proposal was revealed by process of elimination!
I think its Bitstamp or Kraken - if you google Bitstamp Margin trading, they are releasing it the same time as Dash is supposed to be added to the exchange.
Its not Coinbase as Charlie Lee works there and I would bet he would rather quit his job than add Dash to coinbase. That or he is expert level fake troll to try and make it not look like its coinbase....
Its not Coinbase as Charlie Lee works there and I would bet he would rather quit his job than add Dash to coinbase. That or he is expert level fake troll to try and make it not look like its coinbase....
For my part I would be especially keen if this were Bitstamp, but TBH I would probably vote yes anyway.
I will agree to this, hope it's coin base but I don't think it's that good.
On a side note it could be worth trying reversing the process in that we have a proposal that would secure say $100000 for exchange implementation and then let any exchange bid for some of that funding.
On a side note it could be worth trying reversing the process in that we have a proposal that would secure say $100000 for exchange implementation and then let any exchange bid for some of that funding.
Bad idea and not needed. From now on they add us at their own expense. If they need help from core they pay the guys for their time and effort @ market rates.
Define "major" please. Kraken or above ? ($7,654,900 in BTC/EUR trade-pair today, as of 12.04.2017)
YES.
Anything smaller than 0.5 Kraken ? (half-a-Kraken; under $4 million a day for BTC/fiat)
NO.
EDIT: ohh, the proposal has passed. Nevermind.
YES.
Anything smaller than 0.5 Kraken ? (half-a-Kraken; under $4 million a day for BTC/fiat)
NO.
EDIT: ohh, the proposal has passed. Nevermind.
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