Bitcoin Forum

A new thread will be posted in the coming week.   :)

Awesome. When is the mainnet due? What are the trading pairs that are going to be on NEXT Exchange?

Hello.
Is KYC mandatory, or we can withdraw some amount 1-2 BTC without KYC verification?

Nice Work. Finally some good news and updates coming up. Bitcointalk is the most important platform for crypto updates. Congratulations for posting your ANN.

exchange running on masternodes network?  sounds unusual. Let's see. Would be nice to see also some rules and restrictions, like if there is a country permission, do you need to pass validation before deposit/withdraw, etc.

I'm just a regular user following this project for a while and I think I can answer a few questions.


The team said the mainnet will be launched in April. So unless they decide to postpone it, I think it'll be ready at the end of the month. Regarding to the pairs: currently each asset is paired with BTC, ETH, NEXT, EUR and USD. They'll add other fiat options like GBP and JPY later, but I'm not entirely sure if those will also be basic trading pairs. I think it makes sense that they will.


The team had an AMA session recently on Reddit. There's a transcript of it on Medium (https://medium.com/nextexchange/ama-for-next-exchange-hybrid-crypto-asset-exchange-platform-d165e53366b3). As far as I understand from the AMA, KYC is required for FIAT operations. They have a table categorizing different user classes. Although the table is not final, if I understand it correctly, you can see that they allow withdrawal worth of €1000 per day and €10000 per month.



The exchange isn't going to run on the masternode network. The Next blockchain, which is a combination of PoW and PoS will be the backbone of the exchange. Although I'm not aware how they are technically going to implement it, I'm aware that they are going to record each trade on their own blockchain.

I am aware of a few rules regarding to the masternodes, but beware that these rules could be adjusted/changed at a later period, so don't rely on my post.
-KYC is required for running a masternode
-1 masternode per person
-Some countries are indeed restricted. I don't have a list though.
-The network will be capped at 100 masternodes (This is one of the things that can change, so don't see it as a never changing fact! 100 masternodes currently make sense because of the low circulating supply of ~3.8M Next. That's like two-third of the circulating supply)

How to excavate the coin

Can you please clarify what you mean by this?

https://twitter.com/NextExchange/status/1118623542860505088 (https://twitter.com/NextExchange/status/1118623542860505088)

NEXT.chain Mainnet preparations are underway.
Testnet has been going well, if you haven't already, check out our latest Testnet update: https://www.reddit.com/r/NEXTexchange/comments/bbv3pd/nextchain_testnet_flash_update/ (https://www.reddit.com/r/NEXTexchange/comments/bbv3pd/nextchain_testnet_flash_update/)

https://pbs.twimg.com/media/D4Ylp5NW0AEvKhg.jpg

https://twitter.com/NextExchange/status/1115891472312803330 (https://twitter.com/NextExchange/status/1115891472312803330)

The NEXT.chain Testnet is currently live! More information on our Blockchain can be found at http://chain.next.exchange (http://chain.next.exchange) !
Currently, we have 60 community members testing:
- Masternodes
- Mining
- Instant and private transactions.
Want to take part? Join here: https://t.me/next_exchang (https://t.me/next_exchang)e

Nice post made by one of our Ambassadors.
https://medium.com/@teeringt/next-exchange-and-its-backbone-next-chain-1b931794fde9?sk=12f9aad61b87be2077b413287c0ac224 (https://medium.com/@teeringt/next-exchange-and-its-backbone-next-chain-1b931794fde9?sk=12f9aad61b87be2077b413287c0ac224)

https://cdn-images-1.medium.com/max/800/0*F9Jihv_qRuP1254X

Initial trading pairs: BTC, ETH, NEXT, USD, EUR.

Minnet expected end of April, we will see how it goes, don't want to push something out unless we are 99.9% comfortable with it.

One of the privilege earned by holding your native token is the ability of early bidding for new tokens, how many token does one need to be able to enjoy this privilege? And how does the other community or the projects' team will think about this? Most exchange will not disclose the date and list of new token listing, and this feature propose a "violation" to the unwritten rule.

I guess question is about mining ) Person's English seems to be not that perfect )

It will be listed and then locked for trading unless you have the required amount of tokens, 100, but subject to change in favor of users based on market conditions.

It's merge mined with BTC.
We have our own pool and there will be several community pools, one of our testnet participants launched another pool already.

If anyone is interested in participating in our Testnet, please let me know.

Just to make it straight, the owner of 100 NEXT (subjected to change) will earn a privilege to buy and sell newly listed tokens up to 14 days prior to public listing? Or will it be listed and then locked from public?

Let's say, an ABC token is to be listed on January 15th, will the owner of 100 NEXT be able to start trade them from January 1st or will they still only be able to trade from 15th (whereas the other will be able to trade on 29th)?

You have it correct in the last part. Once it is listed on the 15th, holders will have access on the 15th while everyone else will gain it on the 29th.

I can not say anything about this, I now became alert after exchanges with a high reputation simply break, look at the work of your exchange in practice to give an assessment, it is a very beautiful and high-quality exchange with an experienced team yet that's all I can say

I honestly wonder if the feature will be beneficial, without being sceptic. Let's assume there are 100 people holding the privilege of this early trade, while the rest 500 were content with waiting for the public trade, the initial pump that usually follows a listing, or the excitement that bring volume, will not happen because most of the token owners (or, to stick with the example we use earlier, the ABC owners) still can't trade them. So, the main excitement, pumps, and volumes, will still happen on 29th.

I think it'll be not too different from a case where projects releasing their tokens 14 days before exchange listing, people can trade on DEX, but only small numbers of holders interested to do so, resulting a small to no volume, whereas the main trading activities happen 14 days after.

You claim to be regulatory compliant, but in which jurisdictions does that apply?

I have the same question. From what checked recently there are no countries where regulators gave the green light to such matters.

Exchange has a nice interface but their marketing is not well known during the past year. I think this exchange is not trusted by everyone because the trading volume is very low, making investors unable to liquidate well when participating in this exchange. Looking at other exchanges they always have a way to attract customers when each coin is listed.

Well, for that case, I would suggest that one of the main reason is because team themselves aren't active on this forum, replying answers, etc. Their last activity was two days ago. That, combined with their relatively new project and a lot of questions around it, is a good reason enough to raise doubt

Guys, The first masternode is already up and running on next chain mainnet. I will update once mine is active and running.

https://ibb.co/GM2YwSf

We are registered as a B.V in the Netherlands and LTD in England and Wales.
With regulated, by the way, what's meant is exchanges where an authority/accountant is looking into the books.

This post can be quite insightful: https://medium.com/nextexchange/next-exchange-visits-the-dutch-parliament-in-pursuit-of-smart-regulations-for-cryptocurrency-fd1edae3c158
As well as our first AMA: https://www.reddit.com/r/NEXTexchange/comments/bahz82/join_us_for_the_first_official_nextexchange_ama/

Sorry, Easter holidays. I don't think that is reason enough to raise doubt.
We are very active in our Telegram chat: https://t.me/next_exchange

Regarding marketing.
Our platform will be going through a major update soon from version 1.0 (what you see now) - to version 1.1.
Mainnet will also occur during the same time (approx). Which is when we plan on ramping up our marketing activities.
This can be insightful: https://www.reddit.com/r/NEXTexchange/comments/bahz82/join_us_for_the_first_official_nextexchange_ama/ekelre6?utm_source=share&utm_medium=web2x (https://www.reddit.com/r/NEXTexchange/comments/bahz82/join_us_for_the_first_official_nextexchange_ama/ekelre6?utm_source=share&utm_medium=web2x)

Also, this contains a good amount of information: https://www.reddit.com/r/NEXTexchange/comments/b440h6/commonly_asked_questions_exchange_blockchain_other/

Some updates for everyone here:

First masternode of NEXT.chain is live on Mainnet (transition to Mainnet will be gradual):
https://twitter.com/etninvestor/status/1120987967277764608

Update regarding IEO practices and our stance on them:
https://twitter.com/NextExchange/status/1121147454106238981


Some recent mentions of our project:

NEXT.exchange and its backbone NEXT.chain
https://medium.com/@teeringt/next-exchange-and-its-backbone-next-chain-1b931794fde9?sk=12f9aad61b87be2077b413287c0ac224

Centralized exchanges in a decentralized wonderland
https://steemit.com/cryptocurrency/@ck-cake/centralized-exchanges-in-a-decentralized-wonderland

NEXT.exchange visits Dutch Parliament for smart regulations regarding cryptocurrency exchanges
https://www.einpresswire.com/article/482226240/next-exchange-visits-dutch-parliament-for-smart-regulations-regarding-cryptocurrency-exchanges

NEXT.exchange interesting features and use cases
https://steemit.com/eth/@acecool/next-exchange-interesting-features-and-use-cases

NEXT.exchange The NEXT Big Thing
https://steemit.com/next/@acecool/next-exchange-the-next-big-thing

I understand "to be regulated" as the confirmation that all legal frameworks of finance correspond to your jurisdiction(s). The confirmation ideally comes from a trustworthy auditor. Being "regulated" does not mean that an accountant checks the books!
 (or please specify what do you mean with "authority/accountant". I apologize if I misunderstood you!)

Hence my question: since you are registered as B.V in the Netherlands and as LTD in England and Wales, could you please explain which jurisdiction exactly which business activities are subject to the NEXT Exchange? Which companies with which exactly business activities are registered in NL and which in GB? (or especially in Wales?)

Another question: does the NEXT Exchange currently meet all the requirements of the "Autoriteit Financiële Markten" (for the Netherlands) or the Financial Services Authority (for Great Britain) that apply to you? (e.g. Fiat-Deposits, custody, exchange, trading with client funds, tokenisation etc.)

Thanks a lot in advance.

Regarding such questions, it's best to send an email to info@next.exchange and our legal will help you.

Actually, subjectively it will, many investors measure the seriousness of project by their capability to attend to questions soonest possible. The absence due to easter holiday raise a question on my mind, though. Perhaps one that you can help enlightening together with my previous question. How many people are actually working on your team that a long easter holiday practically severed your team's communication on this forum?

Why not answer here? I don't ask for help from your legal, I want you to answer this questions here in public.

I'm very interested in your exchange, your blockchain, your masternode, your fiat gateways. it's really great! But I do not know if I have to afraid to lose my possible investment because of failures of regulations in your jurisdictions.

My above questions are easy to answer, just a list and a few yes/no.

Furthermore, it is not only important to master the tech and laws. One third it is just as crucial to be open with the community.

Next Exchange is preparing for it's mainnet and version 1.1 release.
Now triple redundant with the new HP C7000 with 16 Gen9 server (telco- and bankgrade) and ready to take over the market .
These images were just shared by next exchange ceo.

https://imgur.com/a/lXRcci5

https://imgur.com/6iWOyq6

There are over a dozen people on our team.

Please respect my previous response to you. Additionally, your questions are being discussed in our Telegram.

I would recommend everyone to join their Telegram (https://t.me/next_exchange) channel, because the team has a lot of interaction there with the community. You can also see how non toxic the chat group is. The channel is overseen by an 'anti-bot' bot. Only real people can join the channel, because bots are kicked.

I sincerely ask you to join the channel.

This is a very responsible team. managers work conscientiously. this is a very well-organized work. I'm sure there will be a good result here

Well, I looked at their telegram and I have to say that it is indeed quite active. I can see Gleb Jout replying answers and, once again indeed, bring discussion about legal question on this forum to their channel. Driven by the curiosity, and in strong assumption that username "glebj" of this forum stands for him, which is acting as the COO of the project, I looked at his linked in and I, once again, have to say that it's kinda reliable. His activity is more than one year, and he listed NEXT as his employment (thus, we can cross the chance someone list his linkedin profile without his knowledge).

I am not endorsing their project, nor urging anyone use this post as a reference, everyone still need to DYOR, but I think it's safe to say that we can cross "fake team" from the possibility.

Next (pun intended), it'll be nice if you can attend to my earlier topic (https://bitcointalk.org/index.php?topic=5133013.msg50705073#msg50705073).

Yep, Gleb Jout is me, @G_Jout on Telegram, and on linkedin, you have it correct.
https://imgur.com/a/AGqYQAJ (https://imgur.com/a/AGqYQAJ)

Yeah nice, umm... didn't mean to be rude, but if you could share your thoughts and views about the previous topic I asked, I'll be grateful as I am really interested to discuss about it. I'm currently on mobile and it's rather troublesome for me to requote, but it's on previous page, post number #21.

If I may give a brief highlight, I thought your feature might not be a beneficial feature at all, because there's a slight chance that only few people will use this "early trade" feature, thus very low volume, or the exact opposite, everyone hold the requirements so the benefits is no longer a benefit as everyone entitled to it

It's an assumption. We can assume that there will be more than 100 people holding privileges to trade early.
It would also show true demand to get on board a project and hold its token/coin.
Also, 100 NEXT for early access is not hardcoded, it can be adjusted based on market conditions in order to benefit users and the project.
Regardless, we will see how it goes with this feature.

Regarding it not being a benefit if many people try to utilize it... Why? It creates buying pressure. Sure, we have utility to provide through the use of NEXT.
Greater demand to trade a project early bird promotes greater demand for NEXT. "So the benefit is no longer a benefit as everyone entitled to it" it sure is a benefit for existing holders who will see their NEXT holdings appreciate in value.

Hope this makes sense.

(replying to paragraph 2)

Price-wise, yes I can understand that it'll make very much sense, that the more people trying to get hold of the token to be entitled to early bird feature, the more it will be beneficial to the existing holders as their token value increases, thus benefit (or rather, profit).

But feature-wise, will it be beneficial? Let's assume that the entire members of your exchange are 100 users. Due to the interests on the feature, 80 of the 100 users are possessing the NEXT token, this means majority of your community are entitled to this early trade, which lead us to a situation where the early trade is almost equal to an ordinary trade, there were no early bird anymore, only the night-owl... or late-worm.

Thus, your feature is no longer a feature, isn't it?

Hello
Are you saying we can participate fully in the platform without KYC? like it is a decentralized exchange platform. kindly explain on how the mining works? i am a bit confused.

Check here: https://medium.com/nextexchange/ama-for-next-exchange-hybrid-crypto-asset-exchange-platform-d165e53366b3

This is a transcript of the AMA they did. The answer you're looking for is in here in the imagine of the different account tiers NEXT.exchange will have.

Whatever you expect from the best crypto exchange, NEXT have it.

1. Reduced fees for trading
2. Staking of POS based coins
3. Masternodes
4. Token Creation
5. Governance
6. IEO
7. Vote to List
8. Access to fiat
9. Personal wallet with private keys of your own.
and lots more....  :)

We saw a lot of exchange coming news. Nearly all of them say regulated. Can you explain about regulation? What benefits can users have by regulated exchange?

I have seen in the coin market cap and etherscan but a bit confused, which is true?
the total market capital next exchange was $ 1,625,788 but in Etherescan it was $ 48,261,875.28.

The value on CMC is correct.

https://twitter.com/NextExchange/status/1133104913423249408

Shag CM

Confirm. CMC is correct up to now

A friends of mine mad a tweet about this project and how this could be a potential successful project, it feels like I have ever heard about this project back on 2017 but I'm not really sure, can't really remember it, lol.

Thanks, we have a lot of great stuff coming up in our pipeline.
Such as public Mainnet for NEXT.chain, big update to our exchange, more marketing and volume building as well.

The trading volume at this coin is still very poor and there are not many specific strategies to improve this during the past year. If there are better policies, it may attract a large number of investors to participate in this exchange, but until now then all developments have no prior calculations and certainly in the near future given This exchange will soon be forgotten. Anyway, I will continue to monitor this exchange and will wait for newer updates

How is your exchange regulated and by who? As I see your exchange is registered in The Netherlands. So its regulated by some Europeans regulators? Which blockchains your DEX exchange will be supported?

Somewhat strange way to express your thoughts.

Anyway, as you can clearly see over the last 3-4 months, our volume has greatly increased and sustained, as has the price of our token.

Our ICO participants have been provided with an ROI of over 250% since the conclusion of our token sale and start of development operations in the middle of a bear market.

I understand that missed opportunities can hurt, but to say "This exchange will soon be forgotten", is rather strange, but opinions right, everyone's got one.

We are currently in the process of making our Mainnet public and issuing a massive update to our trading platform, after which we will aim towards building volume on our exchange.
Latest progress update: https://medium.com/nextexchange/big-progress-update-exchange-blockchain-and-more-2650ca14a452

You're welcome to discuss our project with the team where we are most active, Telegram: https://t.me/next_exchange

We are not a DEX.
Nontheless, we have integrated various Blockchains.
Bitcoin (obviously).
XEM, NEO, SYS, COLX, ECA, DGB, DASH... to name a few.
Regarding legal and regulator matters, the following image should be helpful: https://imgur.com/erVVLIL
Typically we direct all legal questions to our lawyer, who can be reached at info@next.exchange or would like to save such questions for an AMA.

But whats mean "hybrid exchange"? I though that you will have CEX and DEX exchange.
As I understand from you screenshot you still dont have license and only going to get this license in next year?
When will you have AMA?

exactly. from what can say about they registration project and, moreover, there is no permission to this exchange.
you can of course make registration in offshore, but this means only one thing, there is no regulation.
so, at any moment, promises can turn into emptiness and the exchange sweep to exit scam.
only today one polish exchange exit after left with 1k bitcoins from users.

KYC is compulsory??
Having withdrawal limits?

No KYC is mandatory only for fiat transactions, If you are transacting with crypto, you dont need to do KYC.

Hybrid means to be partly centralized and
decentralized.
Take the positives of both CEX and DEX systems.
NEXT will provide peer-to-peer trading and individual wallets (user is fully in
control of keys).
Also as a company we control NEXT ecosystem which we are responsible for. Therefore, as a Dutch BV, NEXT cooperates with regulatory bodies and reputable financial institutions.

As you can see from the image provided. Permit is currently being drawn up.
If you are interested in what stage is it now then you can ask our lawyer at info@next.exchange or wait for an AMA as mentioned before.
AMA is probably this month.

NEXT.exchange Whitepaper 2.0 is out!

https://twitter.com/NextExchange/status/1138784946074656768

This project is at best a high risk investment.

No regulatory approvement, no license for any kind of fiat gateway and a token that is 100% a security.

Registered as a fuckin LTD in England.

CEO with shady history.

Github is only fork shit + not open source.

The exchange close to launch looks terrible and top unprofessional .

From the start even not decentralized.

Your deposits could be lost in any moment if team exit scams.

After questioning their regulatory compliance - i got banned from their TG group.

DYOR good before investing.

Let me acquaint you with what our CEO thinks about previous message after it was shared in our official telegram channel


This project is at best a high risk investment.



At least we are proven that we are not that 90% of ICOs which left the scene.



No regulatory approvement, no license for any kind of fiat gateway and a token that is 100% a security.



Sounds like a Nash supporter. In whole EU, no licenses are required while operating an cryptocurrency exchange. Things will change in 2020, but we are fully complaint with the rules when applying for a license, when possible.



Registered as a fuckin LTD in England.



What is wrong with that? Like all LTDs are shady? No we register an LTD so we continue operations when a brexit will happen. Secondly our main office is in Eindhoven and registered as an BV (Dutch Private Company).



CEO with shady history.



Not sure what is shady about me. I am communicate daily with the community. Be there as a team member and not hiding things, but moving things forward. Where you see other team members with another exchange, for example Nash (sorry if i bounce the ball back)



Github is only fork shit + not open source.



Maybe you need to look better. No forks there. Anyway what is wrong with a fork? How many forks bitcoin have, so all projects are shit?



The exchange close to launch looks terrible and top unprofessional .



So easy to tell, at least we have a working proof of concept.



From the start even not decentralized.



Tell me why you think that?



Your deposits could be lost in any moment if team exit scams.



No reason for an exit scam, if that was our intention we did after our ICO.



After questioning their regulatory compliance - i got banned from their TG group.



That was because you promote another exchange, which i refer, a few times now.



DYOR good before investing.



DYOR good to look at the facts.



It's been a month, but no on replied to that. Not a good look for next. Can somebody refute this?


We cannot reply everytime on some ungrounded FUD. It will be always there. Some people will always hate us.

Progress Update

https://twitter.com/NextExchange/status/1153036280244183040?s=20

The most awaited second AMA has been out, answered by Next exchange's CEO and COO. Please follow the below link
https://medium.com/nextexchange/july-ama-ceo-coo-d65cdefc3adf (https://medium.com/nextexchange/july-ama-ceo-coo-d65cdefc3adf)

Hello everyone! Check our latest medium progress update.

https://twitter.com/NextExchange/status/1165664474063429632?s=20

$7000 to list a coin ?

you probably messed it up with masternode collateral which is 25000 NEXT. In regards to listing we have different options. Free listing is also possible.

Our hybrid trading platform (HEX) is being tested by some of our community members! They've got good things to say!

Check our latest tweets: https://twitter.com/NextExchange/status/1173946834399703041?s=20

Join our community: https://t.me/next_exchange

NYC win voting listing last year

when you add NYC ?

i buy your coins because i see in NYC comunity about NEXT

We cannot comment now on the addition of new coins. At the moment we are busy testing our 2.0 update together with our community. We will proceed with new integrations once this update is live.
Thank you.

I hope more people will get to understand why Hybrid exchanges are important.
They will pave the way to build a bright crypto future with as few hacks as possible by offering everyone's own wallet with their private key. And by creating trust by being open and transparent and not listing every coin that pays the listing fee.

!Next will be regulated!
To give the whole thing more confidence for the future. Next will be regulated. This means an accountant is looking into the books.

No Fake volume
When your books are open fake volume will be reduced to a minimum. Also (CTO) Christaan van Steenbergen and (CEO) Gleb Jout don't want anything to do with fake volume.

How to increase volume over time without faking it

- strong marketing plan after release platform 2.0
- start of IEO's
- free listing of good and reliable projects with large community (after KYC)
- obtaining an EMI license (Electronic Money institution)
- offer the possibility to start your own project via Next (after KYC)

In this way, volume will be built up in a more natural way. This is ultimately the only way to create a reliable company for the long term. This Dutch crypto company is completely open and transparent in this respect. A relief to see how this exchange is gaining in popularity within cryptoland every day.

 ??? Why yet another exchange?  ??? -> https://www.publish0x.com/everything-cryptocurrency2/why-yet-another-exchange-xdkyrg

Sorry but i agree with him, mostly for the fact that there is no open source in your github, nobody can read the code of the coin . Why ?

when you list new york coin NYC ?

long time .....

You guys are just talking before about the testing of masternodes, mining and instant and private transaction but now Next Exchange has its shared masternodes and its live already because most of us requested it to them so they listened to us. They are indeed working really great for the progress of this hybrid exchange.