Author Topic: Please down vote tradebts.gulu  (Read 2659 times)

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Offline sudo

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Voting is not positive

Offline wuyanren

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In the increasingly sluggish market situation, it is true that you say

Offline phillyguy

https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline xeroc

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I am removing them from my slate ..
seems their webpage is down already ..
too bad

Offline BunkerChainLabs-DataSecurityNode

Thanks for the report.. I trust you have shared the same in the Chinese community if it hasn't already become well known.  +5%

Don't you worry , those people who enjoyed the 0.2% fee are screaming for blood to remove the delegate , and that's to a service that has served the community for more than 7 months .

Imagine what they will do to you .    :P

Haha... ok then.. remind them to http://vote.bunkermining.com :) while they are taking care of voting :)
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Offline btswildpig

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Thanks for the report.. I trust you have shared the same in the Chinese community if it hasn't already become well known.  +5%

Don't you worry , those people who enjoyed the 0.2% fee are screaming for blood to remove the delegate , and that's to a service that has served the community for more than 7 months .

Imagine what they will do to you .    :P
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.

Offline BunkerChainLabs-DataSecurityNode

Thanks for the report.. I trust you have shared the same in the Chinese community if it hasn't already become well known.  +5%
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Offline btswildpig

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After talking to few people , here is what I've learnt .

Tradebts was the first 1:1 gateway for BitCNY who provides exactly 1:1 exchange service . Namely if you have 1 BitCNY , they give you 1 CNY with only 0.2% service fee .  And vise versa . Because of their service , BTC38 was able to accept BitCNY deposit and credit people with CNY balance .

The business was unsustainable from the start if considering the economical elements . (even with the delegate pay , which can't help much due to the rapid drop of BTS price )

1、With low fee , they can't generate profit that make sense . But if they try to raise the fee to even 0.5% , people will not use the service as they've publicly stated . (They said : The peg means 1:1 ratio , it must be 1:1 , otherwise it's no better than Visa or Master card , Why would I use that ? ) .

2、As a 1:1 gateway , they must hold a huge amount of BTS in order to run . ------- Short to themselves , etc , etc , operations needed in a single trend market , such as too many BitCNY , not enough BitCNY when there was constant need for covering shorts....  -------  That alone suffers great risk and lost in fiat value . 

3、With the low liquidity in BTS , it's just too hard to maintain a 1:1 peg to fiat money with large amount of BitCNY because in the end it's backed by the liquidity .

4、While the fiat money is limited , the need for converting BitCNY to fiat never stops , maybe because people can "short to themselves with zero risks"  , and they can use the BitCNY generated by themselves in exchange for fiat money , exactly like a loan . Sooner or later , fiat money will run out .

Under various circumstances , the service have to stop .

It doesn't take a genius to figure out the business is in the red all these time even with the delegate pay . But they've agreed that the delegate need to be voted down .

So , Please down vote tradebts.gulu  .
这个是私人账号,表达的一切言论均不代表任何团队和任何人。This is my personal account , anything I said with this account will be my opinion alone and has nothing to do with any group.