Question for Chainrift. Where is the company based? What is the withdraw limit? And can the accounts be funded with credit card or PayPal or something similar?
Thanks
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Yes, there is a reason of course why almost other exchanges do it, or at least start with it. I am not saying Iām favouring it, but I think itās ok to have some āinsideā trades a day to show the exchange is alive and working if there is (almost) no trading for that pair. Also, some good market making could help. Just track the price at other exchanges and put a good bid/ask price there with some volume.
Is there a reason why there is no USD (stable) coin like BTC/USDT? I could remember there was one before.
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I strongly disagree. I want the Safe network precisely to fight against the lies/scams.
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I think youāre exaggerating too much. See it as a daily running sytem health check. Weāre not talking about millions of fake volume here like others do by wash trading, thatās a whole different story. Against market making as well?
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2+2=5 is no less a lie than 2+2=5000. I donāt like lies.
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The question is if it is a lie. Starting a market by trading some yourself first is not a lie. The trades happened. I can do it even myself as customer, is it a scam exchange then?
Restaurants apply the same tactics sometimes, especially in tourist areas. Employees/family start eating early, then they hope real guests will join them. Nobody goes to an empty restaurant, there must be something wrong with the food then.
Itās how the world works. Itās mass psychology. You need to get that engine started.
MAID/BTC might be a different story. Itās a niche market. So people will join this market because there are almost no alternatives. This is probably ChainRiftās tactic. This is the easy partā¦
But then you want to ācross sellā your other trading pairs to get these market started as well. But why would I buy for example Dash here when I see this?
Oopsā¦
3 clicks in my browser and I have a fully liquid market at Binance. We all have accounts at other exchanges, so no problem, I just go there, Iām not going to bother even.
So, ChainRift need to put some people in the Dash restaurant. Some people will call it a lie, fine. The alternative is to shutdown the restaurant. Then we all have nothing.
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Based on Wyoming. Unverified tier has 2.5k USD/day and 25k USD/month.
No FIAT funding.
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We did have Tether listed before and we want to list it again, or something similar. But there were ongoing controversies that have forced us to delist it for now.
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Being truthful in business is not easy, especially when the competition lies and customers are gullible.
What generally constitutes truthfulness has been debated for millennia, and I donāt have a ready answer, but I do know that the specific proposition ā2+2=5ā is a lie. Itās easily proven.
If your claim is āPeople eat at my restaurant without getting sick.ā and your friends and family factually do so, I see no problem. If you say āFive people ate at my restaurant yesterday and nobody got sick.ā when there were factually only four people eating there and/or one got sick, then I have a problem with lying.
I think one should be careful with oneās claims.
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What are the withdrawal limits for uk verified customers pls?
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Iām verified UK, shows as:
Daily Withdrawal Limit
$250,000.00 USD equivalent
Monthly Withdrawal Limit
$2,500,000.00 USD equivalent
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As zeroflaw said:
Daily Withdrawal Limit
$250,000.00 USD equivalent
Monthly Withdrawal Limit
$2,500,000.00 USD equivalent
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Be interesting to see how much volume this exchange sees once polo trading shuts down. I plan to pretty much not be a leader at all here lol. If other people start trading there I would love to jump back into the game to. If no ones playing I am not taking the risk of making the first move. Glad to hear there is no fake volume trying to solve this problem though!
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Why would you not invest a small amount into trying to help the trading pair establish itself? even $50 of maid and btc, traded a couple of times a day would help the volume, and cost you very little. While providing the possibility of attracting more volume.
If everyone had the same attitude as you, we would never be able to establish ourselves onto other exchanges.
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I will make my next purchases from there. Obviously that way I know I can buy directly from MaidSafe 
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ya I could make a āfun account.ā Just no way current volume can support daytrading that like pays more then 3rd world wages for the time invested right now lol. Maybe enough people doing that could have a snowball effect true.
On the other hand its not our coin needs to get established on this exchange. Its this exchange needs to get established generally. If there were at least some other pairs with good volume I might be persuaded there was a chance of finding volume for MAID out of their current customer base and be more confident about picking up a bag of any substantial size.
@Dimitar there is at least some price I would buy if the company was like really desperate to sell because a) I want this project to make it to final and b) the price would be damn goodā¦ so if this turns into basically just an OTC auction from Maidsafe, ya sure I would be interested in bidding at least.
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I insist everyone on this forum should create a āhelp the community accountā, if we all provided a small amount of liquidity, and created a little volume. Then when we need to use that liquidity to buy or sell, we have a place we can actually go. Yes, initially it might cost a couple of dollars each, and day traders are the ones likely to benefit from them dollars. But without luring them into so they trade against each other, liquidity will never come.
The exchange having little volume could be of benefit too, if MAID/BTC becomes the most liquid pair, it would make sense to also provide MAID/USDC, as it becomes a gateway currency for the exchange. This could help also reduce the withdrawal fees etc.
Everyone should do their bit and try and help it succeed even if you end up donating $20 in the process.
Note: The session timeouts are really excessive on chain rift, with recaptcha and 2FA, the process of login takes some effort. Anyway to pin these sessions longer? @ales85
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Weāll check it out and weāre constantly gathering feedback as well, so keep opinions coming.
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Well I donated some money to the marketing effort, but when trading I am sorry but that is not a charity. Itās how I make money. So if I was gonna do a 50 dollar account it would just be like some little game I play on the side, but I would not pay much attention to it cause it would not make enough money to consider more then some entertainment.
The way I see it we are going to get some fraction of poloās volume. But I donāt really see a bunch of new customers coming in from this. At the very least I think I will wait and see what fraction we get and then invest proportionally once we see what we got. Doubt it will be anywhere near my polo volume soon though.
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Who would have control of this account?
How do profits gets split if it makes money.
I think thatās a really bad idea, better that all trade for themselves, it has the same effect.
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