Roger Ver: Starting His Own Crypto Exchange?

[JollyGood]

Some thoughts on his exchange here albeit from an avowed hater - https://twitter.com/WhalePanda/status/1169916913373327360

Weird volumes, BCH gaming in chart placement, high withdrawal fees. KYC is optional for now up to certain amounts.

I think I'll give it a pass.

this hadn't occurred to me. i guess roger might hold off on full KYC as long as possible given his political outlook. you can withdraw up to 5 BTC monthly without KYC---enough for me to add into the mix if liquidity is okay.

i hate to say it, but with binance forcing full KYC (including social security number!) on traders in the USA, bitcoin.com is looking slightly more attractive now. is USDT the only option to hedge fiat value though?

At some point KYC will be a legal requirement and then things will not looking so attractive for those thinking of signing up on Ver Exchange

What is the current unique selling point of the Ver Exchange for the end user?

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[1Referee]

What is the current unique selling point of the Ver Exchange for the end user?

That (for the time being) people get a fee rebate.

People need to be aware of the fact that when you KYC verify yourself on that platform, you are basically doxing yourself to Roger Ver and his crew of evil scammers. Every (negative) word that you ever said about Roger, be it on this forum or outside, he now has everything he needs to sue you for that or do some other shit that you won't like.

[JollyGood]

What is the current unique selling point of the Ver Exchange for the end user?

That (for the time being) people get a fee rebate.

People need to be aware of the fact that when you KYC verify yourself on that platform, you are basically doxing yourself to Roger Ver and his crew of evil scammers. Every (negative) word that you ever said about Roger, be it on this forum or outside, he now has everything he needs to sue you for that or do some other shit that you won't like.

Think about it, who would be happy to give their KYC to Ver and his team?

It would probably be wise to use an exchange that is trustworthy and has a great reputation rather than a "new" exchange or one that is associated with people that the Bitcoin community are not exactly happy with.

[BitHodler]

At some point KYC will be a legal requirement and then things will not looking so attractive for those thinking of signing up on Ver Exchange

What is the current unique selling point of the Ver Exchange for the end user?

Roger is a someone who's dislike for governments is definitely going to make him at least try to find a loophole somewhere to still offer KYC free use, but then obviously in a limited form.

The main selling point is what I consider his domain because it makes people somewhat trust the entity behind it without even knowing who that is. Roger is well aware of how powerful that domain is and isn't shy to abuse it.

I have to admit though, Roger is a work horse. Say about him what you want, but he's adding so much value to that shitcoin that it is pretty sad to see his efforts go to waste. Too bad he turned into a jealous ex.

[figmentofmyass]

At some point KYC will be a legal requirement and then things will not looking so attractive for those thinking of signing up on Ver Exchange

sure, at some point, but given that the exchange just launched, we probably have a year or more before that happens. that's a very long time in the crypto space. i'm thankful for it.

What is the current unique selling point of the Ver Exchange for the end user?

exchanges everywhere are clamping down on offerings to USA residents. binance.com just banned us. so for casual traders like me, it's the lack of KYC. the promotional fee rebate is incentive for whales to trade there but it's not a huge draw for smaller traders.

[JollyGood]

At some point KYC will be a legal requirement and then things will not looking so attractive for those thinking of signing up on Ver Exchange

What is the current unique selling point of the Ver Exchange for the end user?

Roger is a someone who's dislike for governments is definitely going to make him at least try to find a loophole somewhere to still offer KYC free use, but then obviously in a limited form.

The main selling point is what I consider his domain because it makes people somewhat trust the entity behind it without even knowing who that is. Roger is well aware of how powerful that domain is and isn't shy to abuse it.

I have to admit though, Roger is a work horse. Say about him what you want, but he's adding so much value to that shitcoin that it is pretty sad to see his efforts go to waste. Too bad he turned into a jealous ex.

Personally I think Ver and his connection to Bitcoin and the stories of what he did when he purchased in bulk @$1 each years ago are a bit overrated. It seems he is far too temperamental a character to bring anything to the table.

Ver never made Bitcoin and it would have been a success without him obviously BUT it is true that Bitcoin made him very rich. If he had stayed on-board and not behaved like (as you put it) the jealous ex then maybe the BCH-ABC/BCH-SV market capital would be added to Bitcoin as they would never have been created.

If his exchange is currently KYC free and it suits people to use it then that would be a selling point but not a unique selling point. As for the domain, now that is a really big thing. It will bring in lots of customers who are new to crypto world but the ones who have been interested in crypto since many years ago would probably skip it. That domain is a unique selling point

[LeGaulois]

If there is money to be made, believe me, many people are willing to go to an exchange platform with their eyes closed, especially those from Tier 2-3 countries and/or those who don't care about giving their identity for a few bucks. They feel safe in a way by thinking that'it's something serious bla bla bla, you know.

Roger Ver is like cancer, unfortunately, nothing can be done and the domain name is his fatal weapon and he will never let it go. The saddest part is when his site is used to make Btrash look like the real Bitcoin. Its "educational" videos (or rather "introduction") on the website is misleading people at a point that any newbie grabs the story.

[1Referee]

Think about it, who would be happy to give their KYC to Ver and his team?

Most people don't know better because the ordinary user isn't familiar with his anti Bitcoin politics. If people are so easy with giving their personal documents to a scam ICO (of which they mostly already know that it is a scam) that is asking for KYC verification, then they surely will with an exchange that seems rather normal.

It would probably be wise to use an exchange that is trustworthy and has a great reputation rather than a "new" exchange or one that is associated with people that the Bitcoin community are not exactly happy with.

Definitely so. Plenty of exchanges to use. And it's not just because the Bitcoin community isn't happy with the people behind that exchange, but there actually is clear evidence that they are trying to not only mislead people, but also scam them.

[JollyGood]

At some point KYC will be a legal requirement and then things will not looking so attractive for those thinking of signing up on Ver Exchange

sure, at some point, but given that the exchange just launched, we probably have a year or more before that happens. that's a very long time in the crypto space. i'm thankful for it.

What is the current unique selling point of the Ver Exchange for the end user?

exchanges everywhere are clamping down on offerings to USA residents. binance.com just banned us. so for casual traders like me, it's the lack of KYC. the promotional fee rebate is incentive for whales to trade there but it's not a huge draw for smaller traders.

I had no idea Binance banned USA customers.

So is that a new law in the USA? It is the first I heard about it.

Say for example if Coinbase is allowed to act as an exchange for US based users then why is Binance (and others) banned?

[gentlemand]

I had no idea Binance banned USA customers.

So is that a new law in the USA? It is the first I heard about it.

Say for example if Coinbase is allowed to act as an exchange for US based users then why is Binance (and others) banned?

They've banned Americans from their regular exchange and opened a new one for US customers that I presume will be more uptight.

Binance are covering their arse. They've always not given a shit about regulation but it's finally dawned on them that dicking with the US is not sensible. Their non KYC up to certain amounts isn't a good look. Though in many parts of the world regulars don't care enough, they will in America.

Tons of places reject Americans rather than accommodate them so it's a constructive move.

[JollyGood]

If there is money to be made, believe me, many people are willing to go to an exchange platform with their eyes closed, especially those from Tier 2-3 countries and/or those who don't care about giving their identity for a few bucks. They feel safe in a way by thinking that'it's something serious bla bla bla, you know.

Roger Ver is like cancer, unfortunately, nothing can be done and the domain name is his fatal weapon and he will never let it go. The saddest part is when his site is used to make Btrash look like the real Bitcoin. Its "educational" videos (or rather "introduction") on the website is misleading people at a point that any newbie grabs the story.

I have to agree with you when you say that Ver did try and still does use the bitcoin.com domain to try to make his BCH look like Bitcoin - a failed attempt at passing it off.

As for comparisons with cancer, there are probably better ways to for explanations and analogy but when it comes to Ver it really is difficult in some cases for people to forget how he seems to have bit the hand (Bitcoin) that fed him.

[figmentofmyass]

Binance are covering their arse. They've always not given a shit about regulation but it's finally dawned on them that dicking with the US is not sensible. Their non KYC up to certain amounts isn't a good look. Though in many parts of the world regulars don't care enough, they will in America.

they already knew that from the start. it was a brilliant plan to grab market share: launch during the bubble right after bittrex added mandatory KYC, let people trade without KYC for 2 years and benefit from all that USA liquidity leaving bittrex/poloniex, then go "legit" after attaining dominant market share. the fact that bitfinex is still standing tells me they'll get away with it.

[JollyGood]

Think about it, who would be happy to give their KYC to Ver and his team?

Most people don't know better because the ordinary user isn't familiar with his anti Bitcoin politics. If people are so easy with giving their personal documents to a scam ICO (of which they mostly already know that it is a scam) that is asking for KYC verification, then they surely will with an exchange that seems rather normal.

It would probably be wise to use an exchange that is trustworthy and has a great reputation rather than a "new" exchange or one that is associated with people that the Bitcoin community are not exactly happy with.

Definitely so. Plenty of exchanges to use. And it's not just because the Bitcoin community isn't happy with the people behind that exchange, but there actually is clear evidence that they are trying to not only mislead people, but also scam them.

It goes without doubt that most users are not aware of the political background of Bitcoin so you are correct there but they need to be very careful of sending their KYC to any exchange. Research and due dilligence are essential.

Do you think newbies would be happy sending their ID to Ver and his BCH exchange? Maybe... but will people who know the background be equally happy to send their ID or use that exchange - probably unanimously "no"

[1Referee]

It goes without doubt that most users are not aware of the political background of Bitcoin so you are correct there but they need to be very careful of sending their KYC to any exchange. Research and due dilligence are essential.

Do you think newbies would be happy sending their ID to Ver and his BCH exchange? Maybe... but will people who know the background be equally happy to send their ID or use that exchange - probably unanimously "no"

Well, obviously no one is happy when it comes to sending ID and whatnot to an exchange (or pretty much any other service or entity), but people's priority is to trade and profit. If the goal is to get rich, which applies to a lot of people in this space, then they take it for granted and just please themselves with the thought that it will be worth it.

As for the more adapted Bitcoiners, most of them will not send their ID to Roger Ver & Co. Some will probably be using that exchange KYC free until that perk is no longer available to them. I just can't see myself do that.

I think the biggest boost of users will come from their CMC listing. It's going to be interesting to see if they will participate in the wash trading war to make it into the top 10 of highest volume exchanges.

[figmentofmyass]

I think the biggest boost of users will come from their CMC listing. It's going to be interesting to see if they will participate in the wash trading war to make it into the top 10 of highest volume exchanges.

why haven't they been listed yet? i keep checking every couple days out of curiosity. they aren't integrated into tradingview etc either so you need to create a bitcoin.com account to see volumes.

As for the more adapted Bitcoiners, most of them will not send their ID to Roger Ver & Co. Some will probably be using that exchange KYC free until that perk is no longer available to them.

bingo, it's the only thing this place has going for it. once the rug gets pulled out and people are forced to KYC, everyone will leave. remember how bittrex once dominated the altcoin space? now it feels like a ghost town.

[squatter]

As for the more adapted Bitcoiners, most of them will not send their ID to Roger Ver & Co. Some will probably be using that exchange KYC free until that perk is no longer available to them. I just can't see myself do that.

I think the biggest boost of users will come from their CMC listing. It's going to be interesting to see if they will participate in the wash trading war to make it into the top 10 of highest volume exchanges.

Some allegations are already emerging that they're inflating reported volumes: Bitcoin(dot)com Crypto Exchange Posts Dishonest Volumes

The trading volume shown on bitcoin.com is actually the combined trading volume of multiexchange.com

Sharing order books is fine, but reporting the volume of other exchanges (HitBTC and others) as their own? That's pretty sketchy.

[JollyGood]

I had no idea Binance banned USA customers.

So is that a new law in the USA? It is the first I heard about it.

Say for example if Coinbase is allowed to act as an exchange for US based users then why is Binance (and others) banned?

They've banned Americans from their regular exchange and opened a new one for US customers that I presume will be more uptight.

Binance are covering their arse. They've always not given a shit about regulation but it's finally dawned on them that dicking with the US is not sensible. Their non KYC up to certain amounts isn't a good look. Though in many parts of the world regulars don't care enough, they will in America.

Tons of places reject Americans rather than accommodate them so it's a constructive move.

Binance are doing well to cover themselves because they will be ripped to shreds by the SEC if something goes wrong and they fall foul of US regulation.

[gentlemand]

Binance are doing well to cover themselves because they will be ripped to shreds by the SEC if something goes wrong and they fall foul of US regulation.

They should not be listing BNB. That smells very security-esque to me.

Binance have something of a history of being both slapdash and arrogant. I hope they have some American minds on board who are winding those characteristics in otherwise they'll get a firm slap upside the head.

[JollyGood]

Binance are doing well to cover themselves because they will be ripped to shreds by the SEC if something goes wrong and they fall foul of US regulation.

They should not be listing BNB. That smells very security-esque to me.

Binance have something of a history of being both slapdash and arrogant. I hope they have some American minds on board who are winding those characteristics in otherwise they'll get a firm slap upside the head.

They will probably do whatever they can to protect their US based interests, stands to reason. We are taking about companies worth billions and trading billions of USD$ every year.

Listing their own BNB on their own exchange in a US based environment does seem a bit strange given that US regulators will be looking at everything.

[squatter]

Binance are doing well to cover themselves because they will be ripped to shreds by the SEC if something goes wrong and they fall foul of US regulation.

They should not be listing BNB. That smells very security-esque to me.

Binance is obviously taking a contrary position. They are trying to prove that BNB "powers the Binance Ecosystem" and that it has a multitude of use cases. The utility token argument, basically.

I don't know how legally sound their position is but I get the impression that the SEC has bigger fish to fry.