Hi All, I’m a big fan of NASH but there’s an elephant in the room and no one talks about it. Why after such a long time since ICO can I only buy NEX on 2 questionable platforms with bad liquidity. It’s a security token and from what I understand exchanges aren’t legally authorized to sell such assets in certain regions yet these exchanges do so anyways and no one else is willing to. Nash is focused on compliance obligations and doing a very good job so far with all of the milestones yet the token of the system is not easily or as it may appear legally obtainable so my question is this, when will NEX ever be available on other exchanges including NASH and what happens to NEX tokens should any of the authorities in certain regions clamp down and outlaw NEX tokens and their dividends., can anyone advise?
This question has been addressed so many times. You just need to do a little search here in the community instead of creating a new topic. It was also discussed in the last quarterly report.
I have read them all before and did so again when you posted them, my questions remain unanswered which to this day indicate to me that a) it’s still a complicated subject with no foreseeable resolution in the works now or in the future apart from ’ trying to acquire a license to list’ so liquidity will be an ongoing issue and b) no one truly knows whether there’s legal ramifications for anyone who hold a substantial amount of NEX obtained from an unlicensed dealer which is unsettling if it’s large amounts. Thank you for the links to these posts btw, I appreciated your constructive response, have a good day.
TLDR; Every country/jurisdiction has different laws around securities trading for both companies and individuals it’s up to the user to do their own research and find out if they can legally purchase securities without a licence. Most legislation is about user protection and therefore relates to the exchange/market and has little to no impact on the purchaser.
To elaborate on the above; while it’s illegal in some jurisdictions for OTC markets or exchanges to “Supply/Offer” securities it isn’t necessarily illegal for the end user to acquire them. Which is why Nash only requires the user to do KYC and not specify the origin of the securities (Nex tokens), having completed KYC should a regulatory authority have questions about an individual staking tokens on Nash they would be compelled to provide KYC information only. Assuming the user hasn’t engaged in illegal activities to fund the acquisition of such tokens or the act of acquiring those tokens wasn’t illegal in itself there’s nothing for the end user or Nash to worry about. Most jurisdictions only regulate companies offerings/trading securities, for the most part they’re less concerned about individuals unless that individual is involved in the usual prohibited activities (t…ism, money-lau…ng, dr…g-traffi…ng, etc…). Ultimately it’s up to the individual to work out if the jurisdiction they’re acquiring NEX in requires the individual to first have some kind of trading licence (unlikely).
If your goal is to accumulate a huge stack of NEX and the funds your planning on using to do so were acquired legally then at present the current market situation is perfect for doing so if you have the patience to average your buys over time (I have seen 10k-25k sell offers pop up in some OTC markets periodically, so depending on the depth of your pockets you may find it easier to acquire a large stack than you might think).
Thank you for the good reply, I now comprehend it much better. +1 Sir.
Can you name those OTC markets? Thanks!
right even wiith the licence its a reg d … so were not gonna get US volume… i do think we are reg CF in europe tho
For what it’s worth NASH were trying to find away to bypass the licence and only sell their token on the NASH exchange, thst way they would not be allowed to trade other securities
Is available on 3 exchanges, 2 of which are questionable.
The easiest way is to get a securities dealer license. However, there are significant costs associated with obtaining a license. Let’s hope Nash team can clearly explain to VCs the importance of obtaining a security license and that they are successful in getting funding from VC. But team said licensing is not a priority, and they don’t want to put the cost of uncertainty on the table.
This is my personal opinion, but I believe that for Nash to be successful, getting a security license is a must.
While Nash is focused on self-custody and fast trading, but trading cryptocurrencies 90% of people who do are not very interested in the importance of self-custody. Only a few people understand the roots of cryptocurrency.
Compare an exchange that loses all its assets due to its own mistakes with a centralized exchange that makes up for it if it is hacked. Many people choose CEX. This is even more so if you are an older person who is not tech-savvy.
So what do we need to do to get people who are already using exchanges like Binance, Gemini, Coinbase and other exchanges that are already in an absolute position to use Nash?
The only solution is to differentiate yourself by dealing with coins that these exchanges don’t deal, or dealing with security.
Nothing is required to bring everyone who is currently using Binance to Nash.
At first, many novice traders get used to trading on a centralized exchange. And then they dream of the x100 and trade niche cryptocurrencies that the big exchanges don’t deal in. Every cryptocurrency has a certain number of fans. The only way to activate an exchange is to attract them and generate a network effect.
When Bittrex was mainstream, it was said that Binance would fail. There is no reason to bother using Binance when you can buy it on Bittrex.
However, from the beginning, Binance has been dealing in coin that are not available on Bittrex. As a result, fans of that crypto began to trade on Binance. Look at the current state of Binance and Bittrex as a result of differentiation.(Although it now costs a lot to list on binance).
Nash is compliant with the law. As a result, it’s very hard to find a coin that doesn’t violate the law out of thousands of coins. If it’s a unique chain, it will take a long time to implement - even bitcoin took a year. I think the best way to differentiate ourselves from other exchanges is to deal in security.
I’m hoping the team will change their minds.
I’ve thought about this quite often back and fourth for the last 2+ years, even went as far as making this post to try and get an idea of what the community thought;
Having thought about it more though I think trying to replace Coinbase as the no.1 spot exchange and then FTX as the number 1 futures/options exchange is a better approach than just trying to be first to list “x” coin. Binance has done some pretty shady stuff to get where they are, Travis Kling from Ikigai Fund explains better than I can
I think this post sums up my current option quite well
The team is clearly one of the best in the space and this community seems to add to that. Their vision towards non-custodial lending + futures + options etc. is the way to go for now I think.
In the really long term I think Nash has what’s required to dis-intermediate the NYSE, CME and NASDAQ if the future really dose become tokenised but it’s up to the rest of the industry to tokenise everything first before it gets listed on Nash, it’s not for Nash to spend the time tokenising/securitising everything themselves and for now there really aren’t any notable securities worth listing anyway.
You’re right in the sense that a securities trading licence is a must but I don’t think it’s that urgent, the most urgent thing for now is having the best price program running on all pairs on the exchange so that when Nash starts advertising and new users get their first impression they see a bunch of liquid markets with candlestick charts that look the same as every other platform, anyone logging on now will see a whole bunch of dashes instead of candles due to a lack of trades (on all time frames from 1min right up to 1day) this really needs to change to inspire confidence for first time users.
I’m confident in the team and the concept, just hope the timing and order of execution is correct.
It’s a blessing in disguise. If NEX was listed on big exchanges there is no way we would still be accumulating at under a $. And, if your end goal is to earn from staking then token price is irrelevant, volume on Nash is what matters. Token price will increase as dividends increase.
News of Paypal entering the market - How will we respond and what are the pros of nash over using paypal which most people already have - the general user doesn’t care about owning their keys. people want easy on easy off easy use. the Gen x also like options etc etc which robinhood gives them… we need to try and match or get close to that experience. Just my thoughts from a nash supporter in a 2 year stake.
Yes, it is unfortunate that people dont care. I have said it a few times before: People don’t care about dex’s or non custodial exchanges because they have all shown to be severely limited in one or more aspects. Nash fixes this, but we are treated as the same as other dexs. All these exchanges desperately claim and show how awesome and groundbreaking they are, which makes people tired of hearing the same story come from all directions, while their promises are not in line with reality.
People should wake up though, with paypal news, and the ING bank news…They are still custodial services. Has the space not suffered enough hacks? Has the space not learned how banks store your funds for their own profits? If we store our crypto on paypal/banks/central exchanges it can get hacked or they will use your funds to lend out/offer margin trades etc.
Crypto is made to be stored by the user.
But we will see if non-custodial or dex’s can really gain traction in the space. Crypto deserves Nash.