100% agree and was saying this a few posts up. You aren’t gonna convert the OGs comfortable at polo so how well we do on a new exchange is strongly correlated to how many new people we are bringing in right now.
Ya I think its worth some marketing and research effort, especially since the dev team (likely) holds a large amount of their assets as MAID, so unless they can pay their guys with crypto they need a constant stream of new investors to counteract the constant need to liquidate. You can only squeeze so much out of the small loyal following right now. To make it to the finish line they need new people trading and a lot of them!
You can’t really reach out these days. The only thing that will get a reaction is something big and when that happens it will have to be marketed appropriately. The rest of us are either holding or accumulating through established sources
disagree strongly. I would say we are a long way down from interest at the ICO and shortly after. I would say at minimum we can reach out to old friends and be like look how far we come. On top of that I would argue there are always new investors in the crypto world… well maybe not new… people that are just moving beyond bitcoin and eth and looking into smaller market cap projects. There are new ones of these every day. We just need to make them look at ours
this exchange IS indeed an Asian one. I guess I kinda trust polo cause as a Canadian I feel like that’s just my neighbor I can break their legs if they steal from me… or at least have some legal recourse lol.
For timelines you know as well as I we are not in the low risk phase with hard dates. But common so many more people were willing to buy this in the idea phase where there was for sure no hard estimate or even progress reports to estimate pace. I think that’s a bit of a straw man when the real issue is we are just not reaching out enough.
And yes I realize we are at a point where in the overall crypto market there are more people leaving then coming. I am not here to defend against the argument we maybe botched our chance to capture a lot of new investors in the big bubble. My point is there are still always new people coming never the less. Lets focus on how to grab their attention and next bull market we will be swimming in gravy.
It can be challenging to market a new exchange platform, I’ll try and add context which hopefully helps.
In the past members of the community have been critical about how we market new listings, expressing concern about how/the level to which we have vetted them. We do try to get to know the exchange as well as we can due the application process, but ultimately and like any new business relationship there is a risk, which can sometime be compounded by the long distance nature of the relationship.
And I certainly wouldn’t hold it against anyone in the community for being concerned, they are right to ask questions as some centralised exchanges continue to contribute to much of the distrust that exists in crypto at the moment.
So we find ourselves in a strange middle ground. We want to provide additional liquidity to the community, and we want the exchange listing to be a success, and of course we want to tell people about it, but we are still working on a building a relationship with them and working to understand and trust their processes and business ethics. So we have something more akin to a soft launch with Bitker. The listing is up and running but it is early days.
I do agree with your points btw and @dugcampbell and his team continue to look for additional ways to target and drive real volume on the exchange.
Anyone want to get volume going on this exchange? With some movement finally happening in crypto, we can’t forget about this new exchange. For 1 thing: w/d fee is astronomically less than Poloniex now.
I’m not sure about site usability and everything ever about it, but it’s worth checking out and familiarizing yourself with it? I’m not sure if it could even be a major (i.e. Polo) or minor (i.e. Bittrex?) place for people to trade MAID, rather than Poloniex now, which has an 80 MAID withdrawal fee.
…Did I mention Poloniex has an EIGHTY MAID withdrawal fee now? (At least, that’s what I heard the other thread mention. I haven’t been able to use Poloniex for awhile now, to see for myself.)
Does no one like the bottom two exchanges for any real reason? It can’t all be lack of familiarity…?
I am going to contact Polo about this bump to 80 MAID, that is like $14+ USD at recent levels per cash out. That is robbery for those who buy in small amounts and intend to pull it off the exchange right after purchase. We need safe network and an exchange website built on that for non-profit built by the community to trade crypto freely asap.
Just here to voice my displeasure at Poloniex to stoop to what other shady exchange websites do to gouge for massive profits. An 8x increase in withdraw fees here close to the time of crypto returning to a bull market at least temporarily is close to robbery. This was my favorite exchange but I will likely stop buying alt coins here after witnessing adjustments like that. Say I buy $250 USD a week to cashout, @80 MAID that is like $14+ USD value and will likely get worse as crypto values rise again. $4-5 USD fees are what big companies like Fidelity charge to trade stocks.
Edit, this was their response:
Thanks for sharing this valuable feedback.
Poloniex uses a static withdrawal fee system. These fees may change over time based on the dynamic network fees charged by each respective network. As dynamic network fees increase Poloniex must also increase the static fees charged to customers in order to facilitate transactions over the network.
We will make sure to forward it to our team for future reference. All suggestions and feedback from our customers are highly appreciated as they help us focus more on product development and provide better customer satisfaction.
If you have any other questions about your account or feedback about our product, don’t hesitate to reach back out. We’d be happy to hear from you!
Poloniex Support Team
I tend to disagree with their canned response of “dynamic network fees” being the reason for the 8x jump though
Hitbtc has actually lowered their fees , it’s now 75MAID. I know many find it a scam exchange, but I never had a problem there, no KYC problems yet, although I read all kind of worrying subjects about it, so I moved some funds to Bitker now.
Instead of complaining that there is no market on Bitker…just put some small orders on it, if more people do, more will follow
I agree with you and say ok sounds good you go first I think its a kind of prisoners dilemma (https://en.wikipedia.org/wiki/Prisoner’s_dilemma) We all win more by acting in a cooperative way but I can individually win more by letting you do the crap part and not participating until it’s liquid enough.