Project description:
Currently (Q4 2018) the cryptomarket is in cowboy state. The exchange rates of bitcoin are low and many altcoins are under market pressure. On the exchange side, there are many new projects struggling with the exchange fees to get listed and the performance of exchanges is not always in line with expectations. Many wallets are under maintenance, deposits do not arrive, transfers do not go out etc.
Second problem is that there are many SCAM projects starting up. Many miners invest in such projects and by the time the SCAM coins are listed on an exchange the DEV's cash out, leaving behind a dissapointed community of miners who are left behind with worthless coins.
So, to change the landscape in benefit of the miners, i have decided to start project OpenExchange24, directly linked to my pool NLPOOL.NL The exchange will be based on the opensource OpenTrade platform and can be reached on :
https://openexchange24.comWhat will be the benefits:
- Security: There will be tighter security on startup coins. Exit SCAM's are prevented because the coin will inmediately reflect it's value from start.
- Flexibility: Startup projects can get listed with no or very low fees on request of the miners.
- Project exposure and profits: Honest startup projects can be added in NLpool together with an Exchange24 listing. This way there will be an inmediate market for the coins and miners will benefit.
By quickly creating new markets on both pool + exchange the profit for the miners in the pool will go up and the risks will stay limited.
- Security: Buyers who don't have mining power and want to buy on an exchange are secured against SCAM for the new coin, because by setting an order on the exchange on market price, NLpool will automatically start mining it.
- Profits: The startup projects will benefit also. By adding them to the Pool the market price will inmediately reflect the price of the real market. The pool will automatically start buying coins on the exchange market as soon as there is a shortage on the project's coin in the pool. This happens when the pool has been mining other coins who were more profitable. By buying the exchange rate will go up, so it will benefit the project.
The rules for now:
- This project is based on my idea's only untill now. Instead of making all kinds of business plans, i will take this to the market to see if there is a market demand. If there is i will work out business plans next months, registrations, etc. etc.
- As pool operator i am still human and human's tend to make mistakes from time to time. There is no full team behind me yet, so please limit your risks using the exchange so in case something goes wrong, we can all still laugh and shake hands as real humans do, instead of making war.
- If i have doubts about a project i will delist it to protect all our interest and in case of SCAM i will do everything i can to limit the damage.
- There is a small fee set to cover for the hardware costs of the VPS running the wallets and website. I don't know if it will cover the costs, so it might change.
- Protect your privacy. The exchange is hosted on a Dutch VPS in Amsterdam under Dutch law. I will comply with it if i need to.
Please bookmark this topic as i guess it will evolve quickly and many changes will be ahead for the good.
