Hi team,
I definitely want bitbay to be listed on newer exchanges. Not the fact that I am holding a single coin but the reality i read on the very 1st page of greed and then passion (DAVID) that took over the helm that happened only for the good. I truly wish you guys all the best for introducing something revolutionary. KUDOS to all of you.
Best Regards
Aakeel
Yeah I can't wait to see where we stand once the rolling peg is in place and we are live on the Blocknet decentralized exchange.
Let me paint a picture for you.
Imagine a billionaire invested in bitcoin. In the past if he wanted to hedge against a potential slide in bitcoin price, he'd have the fear of depositing millions of dollars worth of BTC to a centralized exchange (tx fee applies).
Then he has to trade the btc for a pegged coin like tether with the fear that their centralized structure will collapse and his hedge will fail (tx fee applies).
He can then withdraw those tethered coins to a tether wallet if he thinks the bitcoin slump will take some time and he fears holding his tether on a centralized exchange for so long (tx fee applies).
Once he's ready to get back in he reverses the process and remove the BTC back to his personal BTC wallet (3 more tx fees apply)
So a total of 6 tx fees.
Now if he uses blocknet dex and bitbay has implemented the rolling peg. He could literally repeat the same process as above for only 2 tx fees! And those fees are half the amount the exchanges typically charge! And he never gives possession of his money to anyone else in that simplified process!
Every percentage gain helps! If a trader can save a 1/4% profit on fees that is massive in regards to high volume trading!
On top of all of that, he has the potential to make compounding interest in the process because Bitbay's peg is dynamic and price can still fluctuate with minimal volatility.
It's a no brainer really! What's about to come to cryptoland is going to change the way whales trade big money
Sounds very very interesting. Implementation is key. The only issue is too many fighters propping the space up into the financial space. Ripple, DGB, Bitshares, you guys and lots more. Wonder if all with get a piece of the cake . Take an example of the game tokens. Too much of competition. If it would be possible to patent an idea within the block chain space it would be really nice as it would give a particular token a fair price with less volatility. Hope my 2 + 2 made some sense.
Thanks..
Aakeel