I agree
From my own experience, 200 to 300$ are enough to make 10k daily trading volume using Fabibiâs bot. This is achievable now when the total trading volume is low (200-400k usd). When the competition begins, the 10k daily should not take more than a few hours to achieve using 200$. Guys, I would suggest that you go and try yourselves, not just read posts and make presumptions. If you cannot bring 200$ to trade, then I donât know what to say. The team made the competition available to all users even those that donât stake NEX. Please go and give it a try.
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If the motive for the program is to attract more users then yes, I do agree with you 100%.
But I am not sure if the motive is to attract more volume by enticing users to trade as much as possible. Or to attract low volume retail users.
Equal arguments for both cases.
If the minimum was 1k USD daily, I would probably only trade that amount. Now that minimum is 10K USD daily, I will probably trade 10K daily. You see?
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WellâŚyou could make tiersâŚIF it was about trying out liquidity bots and so forth. There could have been pools devided by volume. just like you have amateur competitions and premier legue. And once youâdd cross a % volume, youâdd partake in the next tier.
But it is what it is.
Tnx for at least 1 normal conversation
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This is a first try. They will be able to do it after the 5 weeks of testing.
@Monkey @Blondie @telomerase yâall made a post now that includes at least one personal attack and/or is aggressive. That leads to no good and I am sure it would help to focus purely on arguments.
Back to topic: @Blondie I could indeed imagine that your test with fabibis bot would have come to a different result if the program (and presumably volume) would have started. Maybe you could give it a try again when itâs launched!? Regards
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Hi Blondie,
Itâs just a beta. From my understanding, parameters like the amount or volume required can be adjusted in future events.
Iâm not sure why the team decided to go for 10k daily volume, but they probably gave it some thought.
Personally i would appreciate a somewhat smaller threshold myself, but the decission has been made so letâs see what will happen.
Kind regards,
Nick
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Gentlemen, I did a slightly mod on this thread to remove the set of personal takes and keep productivity high.
@Blondie we are not changing the beta program. Our goal is not to attract any retail every user, but to start on the path of empowering our existing âHODLerâ users to trade more and attract a few people to market making on Nash for profit. If the program attracts a couple dozen to engage on that consistently after it finishes with a average liquidity on the books that has a cost of capital lower than $3 per $1,000 than it is a success.
@Trust_Yourselves ETA is Oct 1st or right before.
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So, just to be clear: my questions about all this, are just that: questions. I am not judging nor demanding. You say this program is for Nex holders. I am one with several kâs, soâŚand I believe this forum was created for this, I feel this is that place to ask those questions. If I have misunderstood, then let me know and that will be clear for me. That can be civil without remarks of me âdemanding or cryingâ. I did not attack anybody. I am just not one to suckerpunch.
I was not asking to change the beta program. I was just asking if another approach would not have been more productive. Now you are showing a stove without being able to cook on it. Or a house without a roof. Nash wants holders to trade on the platform, but when I show you @canesin what really bothers me as a trader, you say these items are not on the shortlist to fix.
The not remembering of plotted charts
The annoyance of the customisation pop-up right where you want to draw
The measure tool with such a big pop-up right on top of what you need to read. (makes it really hard to adjust the bot properly)
The auto log out on the trading tab
I am just me, talking for myself, not implying any other person on this forumâŚBUT!.. It COULD be that other traders also get annoyedâŚand see no features (except non transparent orderbook, which the losses can be compensated by being able to execute a trade WITH frontrunning opposed to a non frontrunning orderbook and no trades) that would make a trader leave the platform he can plot FAST and save the charts, for a platform he works to make good charts through all the painsâŚand then see them vanish.
Then there is competition to get liquidity, but not attract new usersâŚwho would be able to win NEX thus become holders thus become more involved thus stay to improve staking rewardsâŚ
And then my question: Would that liquidity not be fake? Market takers with $250?..when volume does come from new peopleâŚwould that orderbook not fall apart? And would that liquidity not dry up after the competition? What would make them stay? What would make me stay? Running 2 bots with 1 trading 0.02 btc daily and 1 $250 daily resulting in 0.2 btc and 2k volume netting between $0.06 and -0,0005btc âprofitâ putting up $1k in my trading account to see what this would result to?
Again, these are just questions. I have used nearly all exchanges. OKEX, Binance, Mercatox, Cryptopia, HitBTC, Idex, Kucoin, Bancor, Poloniex, Kraken, BittrexâŚI stay with ones I like a nd take all my cash out the ones I dislikeâŚand then never return. People like meâŚ(say 0.00000000000000000000000000000000000000001% of the population so I will not âoffendâ anybody) âŚjust looks at somethingâŚand if it doesnât work, they leave it and discard it WHEN there are alternatives. IF T.I.N.A THEN you can do WHATEVER you want. I have run a company over 15 years with exclusive products with no competition just because it went the opposite direction of the masses. That worked because I targeted valuable customers. But that ment I had to surpass their expectations and show them T.I.N.A. Show me Tina and I will understand the approach. Show me plotting is more easy on NEX then any other exchange. Show me tools I have not seem before. AgainâŚI am NOT writing this as ANY demandâŚI have skin in this game and I am an entrepreneur. I want to winâŚI want NEX to win so I!! win. There is 0 interest to annoy anybody OR be foul or anything of the sort. I just want to come together with all different views so we cater the best platform for the most profit. Just giving away NEX to a few big players really does not sustainably do anything. IF you want to thank them, give them a portion. Itâs your money. But putting a carrot in front of some rabbits chasing it with 0 change will only make people like me think: âThe nex time I will not even bother because it is not ment for people like me.â (as you stated). And then you have started sifting people out. Removing people instead of adding.
anywayâŚagain: it is not my intention to bring harm nor insult anybody. You asked me to test NEx in the past, tell you what I think. Without you asking I showed you some things that would set Nash apart from others. And all was free and free to use or not. What I do feel is that me not being the person you want for this competition hurts. No chance to win anything while wanting to bring valuable input (weither you use it or not. Wether ideas are good or notâŚjust ask Google how valuable data is), makes for me to not see value in me using or contributing to Nash sicne I am clearly not someone to gain anything from it. And for those who still think that is âcryingââŚagainâŚif you want an exclusive platform I am totally ok with it. But then make it so for like traders above 1mm (SAXO has minimums of $10k and for more risky portfolios $30k ). But in my oppinion your platform is not there yet. it misses the tools. And then it would be better to cater the masses. Then volume would come. Like in the sea: 1 fish does not attract the sharks. It is the biteball which sparks the frenzy.
To end up with positivity and 1 more idea: I donât hear anybody say âjust Nash it.â MaybeâŚsince you use a mathematichianâs name âYou do the mathâ would be a more appropriate phrase
:" Buy crypto with 0 fee?..YOU do the math
:"Get 75% of staking rewards?â⌠You do the math
: âYou and NashâŚâ
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Whereâs the TL;DR?!
Come on guys, this is futile. Letâs wait for the final details and give it a try. Then maybe give some feedback in 1 or 2 weeks while bearing in mind that sustainability is the keyword here.
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I think there is a chance you might be stuck in your perspective. The program is not desgined to make people with flat bags become huge gifts of NEX. People might think that, but thatâs not in the hands of Nash.
I dont have time to make such a text wall, but the way I see it we should take a step back to see the bigger picture. Following this in my opinion every Nasher should profit even IF the project WOULD be designed in a way that only big players will get NEX. That doesnt mean the others dont profit or that it doesnt make NASH more attractive to small players. Why is that?
Regardless who or how many people will bring volume to gain the programsâ NEX, they bring volume. Volume a) generates fees (that every NEX staker profits from) and b) eliminates one of the arguments for people to not make their normal trades on NASH. (âI would like to make all my trades with NASH but the liquidity is just not thereâ). These âreactivatedâ/waiting people will also generate fees, which every staker profits from. In this regard the program could be the kickstarter for sustainable volume even when the program would completlely stop.
Plus some new people might register an account, try nash and see that they like it independant of the success in the program.
Some smaller guys might try bots for the first time in nash and might stick to it generating more volume than before.
Plus temporarely higher dividends might bring attention to NEX and therefore bring new users to NASH.
Plus it is very possible that with increasing volume because of the program it might be very well possible to take part with low $ amount and a bot like fabibis.
To conclude (I really have to work nowđ) i think there are multiple ways how DIFFERENT kind of people will benefit from the program in different ways. Maybe just not in the way they expected.
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