BNB is what I thought NEX would be when I invested

Community
#61

Just out of curiosity, how many people were kicked from Nash telegram for saying Nash is not going in the right direction?

#62

I believe the effect of Nash Cash and Link on the exchange is hugely underestimated. 1$ in Nash Link usage is going to bring more than 1$ in exchange volume, because Nash Cash and Nash Link will make the exchange much more attractive for traders.

Let me explain that a bit. Currently, most of the liquidity comes from the liquidity providers. Those are very nice if you want to take an order close to the global market price. If the global market price changes, the liquidity providers will cancel those orders and place new ones near the new global price. With Nash Cash and Link however, Nash will place the orders in the order books and wait for them to be hit. This creates a situation when the global prices change that there is an opportunity on Nash to get a price better than global market price (aka arbitrage opportunity). This draws traders to the platform and has a bigger impact on volume than the absolute usage of Nash Cash and Link.

5 Likes
#63

Dear @Trust_Yourselves and @nicefox Nash is a company and different people do different things - what is the issue that I haven’t seen the communication they referred to be planning? Most inside Nash haven’t, they have been focused in their job.

I am not passing responsibility to anyone because it isn’t and wasn’t my responsibility - I have been attacked and targeted many times as if I am the decision maker inside the company that I am not. Instead of having me repeating on twitter twice a week I am not CEO we now have official roles that are public.

All I asked is that from my personal perspective we wait for the official communication promised.

7 Likes
#64

I agree with @ikbinruig , from a financial perspective there is a strong feedback because fiat ramps and payments are much higher margin and solely taker demand. High margin taker demand is what makes traders choose exchanges as anyone who has done trading can attest.

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#65

Any rough ETA on the official announcement for 2021 plans? Like this month or the next one?

#66

The seriousness that Nash takes to improve the communication of money, is measurable through technology you build.
The simple day to day communication with supporters, investors, new customers should also be clear, so we don’t exercise imagination.
Just like that::point_down:

You keep it this :point_up_2: way to be clear with a global audience, and there will be minimum confusion :handshake: ( “official” )
Is 3 am here and community is communicating, amazing global community :smiley:

1 Like
#67

I had formed the opinion that the new strategy had already been created. In that sense, it is alarming that you have not been made aware. But if is the case the strategy has not been made yet, then it is completely understandable that you have not heard yet.
A possible solution to the constant harassment from token holders is a simple 1 page monthly update on the first of each month. Outlining the recent moves and plans. You can simply link this each time you are tagged.

Anyhow, I do feel it is not fair on you that you have been the public target of Nash hiccups and I certainly do not blame you for taking a seat back from the public.

@clare would you mind looking into a possible strategy where the communication demands of investors / token holders can be satisfied. This would take away the non-stop harassment on your developers and let them focus on what is important. Perhaps something similar to the Nash Newsletter but something that is emailed directly to token holders. Or a 1 page monthly post with a brief update on hows things are going internally. It is unfortunate to see that lack of communications are still causing issues. It should not be the job of developers to push updates via personal social accounts.

2 Likes
#68

I guess the red flags couldnt be bigger and more visible.
and in all honesty thanks Fabio for continuing to be open and fair.

pitty that it came to this but thats part of the game.
I personally take a lot of lessons learnt, especially when it comes to (risk adjusted) position sizing

Thanks for the journey, (it was a long one :slight_smile: )

#69

I feel your pain. I will be parting ways with Nash in September when my tokens unlock.

Agreed, thank you Fabio for being honest this whole time. It is a harsh reality and unfortunately a great team cannot guarantee success.

#70

There are still 7 months to go before September. It is possible, likely even, that Nash accomplishes something that would turn this around.

4 Likes
#71

Everyone has a tolerance limit. Maybe some are happy to wait years and years in hope.
I highly doubt Nash will have gained traction by then based on a number of factors especially considering the internal restructuring and drawing of a new strategy. These are things that can take a few years to see flourish. Also we have learnt the definition of ‘soon’ in Nash is months and months of waiting.

Enough is enough

#72

Thanks for letting me know. Ive started to send some traffic from Quora to Nash over the weekend and I constantly have 200 views per day as for now. Could somebody from the community let me know in which jurisdictions is Nash Cash accepted? Currently I only send EU customers by stating they have 0 fees for buying crypto.

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#73

Well it depends on what you consider a long time. I think many in crypto are used to seeing returns on a very short time frame (in dollar terms, because a lot in crypto is build around hype and not necassary product).

Until now it was mostly building the tech. This might have taken a bit longer than everyone expected, but it is new tech so yeah kind of hard to know all obstacles before you hit them. Now the tech is actually ready to start growing the platform and this transition phase has only just started. So in my view it really hasn’t been that long yet and the fun is only about to start.

I think many are just extra impatient because other tokens are pumping and that is understandable. But other than other tokens pumping and NEX not, I do not see why you wouldn’t be a lot more bullish about Nash than a few months ago, but that’s just my opinion. I’ve seen some real improvements to the platform lately.

1 Like
#74

Also, to add some extra context. Many exchanges used to “fake it until they make it” and probably still even fake a big chunk after they’ve made it. It is common practice on CEXes to fake volume to make the platform look alive and attractive. Nash cannot do this by design, Nash is non-custodial and every trade on the platform is a real trade.

Nash Cash and Link are products where this is irrelevant (for the customer). They can be attractive products without needing to lure people in with fake activity. People just need to know the price they’re buying/selling their crypto for, the exchange activity doesn’t matter for them. So on top of the benefits of Nash Cash and Link I described above, it is what can make everything rolling. CEXes do it by faking it, Nash does it by utilizing other products.

#75

Did you here the story “3 feet from gold” ?

#76

There is nothing wrong with hype around your company if you’re confident in delivering, and by that i don’t mean just the product, I mean delivering your product to tens of millions of users. Should Tesla cool down on their hype? Would Chainlink, Cardano, binance, etc. be better off if they had zero hype? Imagine the possibilities and opportunities with a higher priced token, versus a dead token buried on page 3 coinmarketcap.
Question for @Kellogg - With this new strategy about to be announced, it would be nice to consider offering users the option of terminating staking contracts ahead of schedule. You want to be left alone buried in your product technology research, that is respectable. But for those who had higher expectations about Nash, at least let them go. It’ll be their loss if you manage to turn it around to a huge success.

1 Like
#77

I didn’t say hype is bad. Sure a good product + hype is a nice combination. What I said is that a lot of crypto is purely hype or atleast centered too much around hype and too little around actual product and usage.

1 Like
#78

I think you’re refering more to the 2017 days. Sure back in the day there was lots of hype and big words on whitepapers, but those days are over, and now we can see who was genuine and who was full of it.

#79

Actually no I’m not only referring to the 2017 days, maybe those were even more ridiculous but it is certainly not over. Anyway I believe this discussion is going off-topic. The hype comment wasn’t even my main argument of my original reply.

#80

Nash Cash is accepted in EU and UK.

7 Likes