My stupidity for inexperienced - Good Bye Nash

Today I lost my money on the Nash exchange.

I’m not good at trading, much less trading platforms.

I had some USDC saved to use in an emergency.

I took them out of Binance and put them on my Nash account because I wanted to operate there.

Today it is time to sell my USDC to pay my bills for the month, I transferred my money to the contract.

Everything was going well, as I have no experience I always operate with the market tab, but of course, I never took into account that exchanges operate that way because they have liquidity, what happened?

I bought ETH at 700 dollars, I just lost 500 dollars of the last thing I had as reserves, without income, with accounts payable, I am devastated.

Today I learned something, it will take a long time for the adoption, just for wanting to operate with my exchange in which I invested a long time ago I run out of money.

I will have to sell my 1000 NEX to pay my bills this month, I had them saved for the future, I will have to use them today.

I wish you much success in this project, unfortunately today I am out of it as an investor.

A big greeting, successes.

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I am very sorry for your loss.
But to be honest this would have happend to you as well if you had stocks and needed to sell them on a broker platform. Using market order can be very dangerous.
Maybe nash could implement some kind of warning message like “Take care, there is currently a huge gap between you order price and what is for sell. Do you really want to do a market order?” to prevent unexperienced users.

Wish you all the best. Thanks for not blaming nash.

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That is very unfortunate, sorry to hear this

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That’s really unfortunate. This has happened to me in the past, I know how bad you must feel.

Market orders are very dangerous. Nash should really implement some sort of protection.

As for you, maybe the community could help you rebuild. I would give you a few NEX tokens. If we all do, you can still be part of this :slightly_smiling_face:

:blue_book: Give us your NEO address.

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yeah, I will help you out with some NEX as well

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i’m in too

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I’m very sorry to hear that as well. As a long time supporter of the Nash, I think this community can definitely make something happen. I’m not the richest, but I would also like to be part of helping you in these difficult times. As @Oldsport said, give us your NEO address.

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Great idea, count me in

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Without a doubt it is not something that I am really looking for, my last hope is that the orders have been taken by someone who is here and wants to return the funds.

Thank you for the support, believe it or not, have calmed my sadness only with these messages.

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I also want to help you with a small donation in NEX or NEO.

People still have NEX, in the NEX forum, that isnt staked? BLASPHEMY

That would be great but I wouldn’t count on someone returning the funds.
I can send you some ETH if you provide your ETH address.

great initiative @Oldsport. count me in too.
And the idea with a message that we are going to buy/sell +/- 20 of the current price is great.
I think i already saw that in sandbox.

And of course we cannot blame the exchange for this

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This was something bound to happen. If there was an opportunity to bet on it, I would have. I really do not understand why Nash has these markets open if they do not have the liquidity for someone to place a market order.

Heres my next bet:
Nash will launch with BTC, the BTC market will have liquidity, but some poor soul is going to market order on some sh** coin market and it will happen all over again.

Before Nash launches BTC or promotes the exchange, they need to have full liquidity in ALL of the markets on the exchange. Or simply, do not launch.

IMHO the exchange should not even be open now. Its a damage to the Nash branding

I will send you some NEX

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Nice of you to do that @Oldsport! That was my first thought when reading his post earlier. Would be happy to help

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Yes, definitely! Unfortunately it only shows for limit orders. For market orders, the buying price is only known once the order gets executed. Moreover market orders can still be a useful tool in certain (time sensitive) conditions, so we wouldn’t want to add untimely confirmations.

Maybe a confirmation reminding of the risks could pop up on the very first market order, with an option to “hide this forever”.

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I can understand your advice about market orders being dangerous. But if the option is available to the user, then it should be a safe trade. Nash pay will have automatic currency conversion. We cant expect this to happen then can we? And we definitely don’t want Nash Pay being based on limit orders because:

  1. No revenue going to the exchange and stakers
  2. Possibility of the transaction not processing.

Flawless liquidity is the only option

First i cant believe and i checked the orderbook eth-usdc pairs. price for 140 flicker only for some seconds then only eth is to buy for 704. that is very uncool and will happen maybe not the last time when people with low experience enter the exchange.

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It is very very frustrating to read. I really want Nash to do well. But this is basic stuff that should not be happening.

What confused me was that I saw the purchase orders at that time, they showed a higher amount than what I needed at a reasonable price, it was what led me to believe that it would be the same as in another exchange, in addition to Fabio always It talks about liquidity, so I thought that the orders would be in prices +/- 5%, let’s say it is fine for an automatic purchase.