All this means it’s better to hold BTC than NEX. Even 1 billion is unreachable within a year.
You seem frustrated about the changes, so I might try to cheer you up with a salty joke:
Imagine there would be somebody having a really huge amount of NEX, let’s just say about 2M token.
Then even with the worst case fees, your picture would look like this:
I guess this person could very well live with ‘mediocre’ dividends per NEX token
edit: was meant as a direct reply to @kazanchev, not sure it worked. so , name added
in that case it will be only 25 of them
I do not really understand why such a dislike of this change. This is an equation with many variables, and you are trying to judge by one part of it (“depreciation” of 1 nex in terms of the number of dividends).
But if the increase in volume from this decision will be proportionally higher than the lost “value” in the amount of dividends for this very unit of volume, then this is a brilliant solution. Not to mention other variables, such as brand growth, brand recognition from user growth and volume (albeit not so valuable per unit of nex), and heaps of little things that grow like a snowball in one huge plus. And all this rests only on the fact that this decision really brings more volume and big guys … Although even if it does not, then there would be no dividends with both fees structures…
Win win situation in all cases
And why you wanted to hold NEX yesterday, and dont want to do it now - kinda question
Good decision, good team, look forward to introduction of more MM and liquidity so we can all trade more and more on the exchange. We are in our baby stage…can’t wait to grow over the next few years!
Let’s wait and see how many optimists will be here in a year. It’s 01/07/2020 and the volume is $18K. Switcheo has $237K, Kyber Netwotk - $4 million.
I am supportive of this fee structure. This is not meant to make everyone happy, but we should learn how to disagree. It’s not really appropriate to accuse the team that they are playing purely for their own interests. That’s baseless and unrespectful. There is no such 100% agreement on such decisions. Everyone of us has their own experience, background, and motives. I think the vast majority of community is supporting this move.
That’s just your opinion. And here’s a fact for you: the vast majority of the community don’t even trade here.
@kazanchev we already understood you are unhappy, please stop spamming the tread, you are over 20% of the entries in the topic.
Well, not yesterday, but that’s kind of easy to answer. The value/potential was always measured based on the things that the team said / expected / hyped etc. So based on what the ‘community’ was talking in this forum in the past, you can very well assume that the personal token valuation and dividend expectations were based on statements like the volume expectations + the ‘hard’ facts of the fee structure. Now as the latter is changed, you would need the volume expectations increase accordingly in order to get the same value out of your token and for the token. (Well, if the team says, that -with the new fee structure- ,we should calculate with 2-3 times of what publicaly stated to be expected, well that it’s fine. But i doubt that.). If these volume goals stay the same and IF we reach them, you will have less dividends than before - thus the token value would decrease. (btw, i dont know if we already missed these goals as there was no reply to a question about this topic yet.
Of course, fee reduction is a suitable way to attract users and therefore volume and that’s a good thing. But there is always a danger. Your gods are humans too. And (I really didnt want to explain my previous joke before) as the team members hold a very large amount of tokens they can have a very nice income even if the dividends per token would be not that good and the NEX token value would further decrease. It’s a difference if you paid a fix USD amount for your NEX (1$). And no, I dont presume that the Team is thinking this way. Just dont want to be naive.
Ofc, if one was already thinking that we were failing the goals with the old structure, then everything what brings volume is probably good in order to not be a dead exchange.
Personally I neither think it’s very bad nor do I think it’s good. I just see some dangers and it doesnt look that rewarding as before for me. Edit: Plus i didnt like the way it was introduced with this ‘poll’
I will ask the same thing from you @JustUS, same way people respected your views you shouldn’t be downplaying others input.
The fee structure doesn’t necessarily change the NEX value downwards - is not because you are saying it that it is true. How much the token receives from dividends is dependent now on the volume profile of users, instead of relation to the exchange. So for example, currently dividends would be higher - not lower as the average fee has been lower than 0.25%.
There is very few players in the crypto industry that do >$1/2B in volume currently, so this is not a issue. Having one of them using us as a primary exchange would however have great impact on the majority of traders.
I support the change! Lets get some big fish on Nash, we had the current fee schedule since launch and I don’t see the small guys sending the volume up so let’s try something different. It only makes sense to highly reward big volume players as they will create the liquidity to attract the little guys. Makes sense! Also a reminder to people complaining, this isn’t all written in stone forever “2020” Fee Schedule . Let’s focus on growth and getting more users, especially the big ones, we need people signing up and using Nash, we need them hooked! Also we’re still getting 75% of revenue, that has not changed!
I didn’t disrespect anyones views here and I am not sure where do you think I was ‘downplaying’ others input. I was just not the same opinion like some here. - But just in case sb felt ‘downplayed’ by me, that wasnt my intention.
For me this is a way of talking to ‘downplay’ someones input.
Even though I didnt say that the ‘fee structure […] necessarily change the NEX value downwards’, I might have made mistakes in my argumentation. But at least I wasnt moaning about sth I dont like and was trying to explain my argumentation in detail.
Anyway, this turned into a kind of discussion I dont appreciate, so I am out of here. Regards
While im not a fan for my own nex investment, this should attract traders and hopefully shift interest to nash soon. I’m still in for the global mission to make crypto as a whole non custodial. Crypto needs nash and this should help complete that mission.
Yes because I literally can’t haha. Can’t wait for Nash to arrive in Canada!
I only have one question. Why the survey? You can leave something like that if it was already planned. I think it’s a mess what happens here …
Anyway, I now have the impression that everything that happens is only positive here in the community…
I’m really surprised. to see people complaining of the current fees structure. It goes further to show that a lot of people in crypto lives in a fantasy world. How on earth will you expect a new player is a vastly saturated space to enter the market with a fee model that is not competitive. Heavy traders are business people that leave their life off cryto trading. You expect them to just leave CEXs and move to Nash and then become less profitable? Who does that? The team has done excellently well and it is time to go all out marketing to attract traders. 10% of a full size elephant is bigger than 100% of a full size goat.
The survey was to feel what the community think about the change. Majority of people said they want the team to be as competitive as possible. So the survey was good
And you seriously believe if the community had been against it would that have changed anything?
Well that is an assumption and no one knows. The community is knowledgeable and reasonable. So many fully understand the importance of being competitive for a new business to gain adoption