Please don't launch NEX in bear market!

#1

Dear NEXers,
I am of the opinion that it may not be a very wise decision to launch NEX in what appears to be a bear market, especially with players like BAKKT delaying their entry into the crypto space.

If NEX launches now, regardless of the quality of the exchange, volume/liquidity would be predictably abysmal. Interest in crypto isn’t particularly great at the moment, as retail investors continue to exit the space. Perhaps we are yet to see capitulation.

Maybe we need to be less rigid, more realistic and exercise patience with the NEX team. Even if all is set for launch, I think there’s no urgency right now. Let the team choose a strategic timing (early next year?) and this would involve observing both the market and competitors. The waiting period could also be time to polish off any rough edges.

Just a thought…

2 Likes
#2

Nex should not be dependent on a market for liquidity. Nex could launch now and focus on creating partnerships for their payment service

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#3

NEX is not a six to one year project it is here stay long through a lot of future bear markets, by the way, if something is good, it is Good, no matter what, NEX is the best project, we need it now so the market can familiarize with it

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#4

Just a thought in the sideline: NEX should never be listed on CoinMarketCap as a token in the first place. NEX should distant itself from this money-making circus. NEX is simply a value exchange facilitator for decentralized future. (whatever that is)

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#5

I tend to agree with Olu. It would be wise to delay the launch at least until January when the new tax year starts.

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#6

I disagree. I personally hope they launch as soon as it is ready. We will probably still be in a bear market (who knows how long it lasts?), but that’s fine for me. Maybe not for the initial token value, but when prices are bad and you decide to stake and get rewarded in crypto you will get a lot more in coins (amount)… assuming the $-volume is roughly the same.
I mean to a certain degree it is like buying. You want to buy when prices are low, or when they are high?
Ofc this only makes sense when you wanna stake anyway and not sell the NEXs

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#7

NEX really should launch when it is ready not a day earlier or later. Staying on the sidelines with a finished product just waiting for a bull run is a strange way to operate a business, things should always be moving. Bakkt says they’re delaying to make sure they can scale for the large volume of customer interest they’re getting.

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#8

Very thoughtful comments from all of you highly esteemed NEXers :clap:t5::clap:t5::clap:t5:. Great community :muscle:t5:

#9

The exchange should definitely launch “When Ready”. It takes time to build a solid business and this should not be dependent on market conditions. It takes time to build a solid customer base, build liquidity and list coins and tokens.

We shouldn’t wait to launch a world class product because the market isn’t as favorable as we would like it to be. People still trade in bear markets too so launching when ready gives NEX time to build a solid foundation before we hit the good times again.

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#10

I agree – NEX should go out the door as soon as it is ready. The market is what it is – when the tide comes back in, we want the NEX boat in the water so it can rise with all the other boats. If it’s sitting in drydock … it’ll miss the wave. There’s no downside to NEX being live.

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#11

Okay, seems there’s consensus on this topic.
But I’m still itching to hear a few more contrarians :smiley:.
I guess the bottom line is NEX should launch as soon as the exchange is ready.

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#12

We will launch as soon as the exchange is ready. Even in a bear market, we expect the quality of the product to make a big splash, and the additional revenue will be useful to the company. There really is no downside, and when the market recovers we will be there to take advantage of it.

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#13

Brilliant! The community is in full support. We have absolute confidence in you guys and the NEX ecosystem :muscle:t5:

#14

You got the best response for every question haha !! Confidence is at :100:

#15

Correct! :slight_smile: Glad to see @ethan on board with pro-launch.

#16

why not? why not be ready at the bull market? why not taking dividents(even if it is one beer per month) from my two year lock up? we beleive in the product market will follow soonex or later.

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#17

Even in bear market NEX will make noise and with the dividends you will be able to accumulate. And it’s better for NEX to enter in a bear to be ready for the enormous volume of the bull market. Kind of strategy

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#18

This one loves his lager :beers::sunglasses:

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#19

I agree with most; they should launch when they’re ready regardless of the market conditions.

The current landscape is not favorable, but I still believe NEX will be more than what we envision crypto today (especially with all the scam tokens in the market).

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#20

Agree.We’re really looking forward to releasing good products as soon as they’re ready. Only short-term speculators want to sell quickly in a bull market, and long-term holders are optimistic about the product and ecology, even if NEX prices are not good in a bear market, or there is an opportunity to buy more.

1 Like