[2019-08-02] Bitcoin.com to Launch an Exchange

[CryptoBry]

Bitcoin.com has announced it will launch a crypto exchange called Exchange.Bitcoin.com.

This is the latest addition to a suite of products Bitcoin.com provides beyond their news service. The company has also developed a crypto casino, a wallet, and a P2P bitcoin cash exchange, aimed at furthering the utility of the forked alternative to bitcoin.

“While our company thinks the bitcoin cash network will be adopted by the masses worldwide, we also think it’s important to promote free markets and choice,” the company said in a statement.

Expected to launch in early September, the exchange will list many of the largest capitalized coins including bitcoin, ethereum, and litecoin. Additionally, it plans to offer around 50 trading pairs, as well as Simple Ledger Protocol (SLP) tokens tied to the BCH blockchain.

Source: Here.

I guess, it is not just Blockchain.com that is very much eager to enter the lucrative and expanding cryptocurrency exchange market. Will this be good in terms of competition? Certainly, we hope so as the more choices the better it would be for the end-users and of course for the whole industry.

[buwaytress]

Just noticed they seem to have rebranded too. The blue logo is unfamiliar.

But I do agree: more competition simply means better options for users, more choices, etc. etc. That's how it's supposed to work, and if Bitcoin.com's exchange does so well and convinces users to leave the others, then so be it.

Just only I hope they don't ruin people by tricking them into buying something other than Bitcoin, cause that's what they've been doing for a while now.

[gentlemand]

Just only I hope they don't ruin people by tricking them into buying something other than Bitcoin, cause that's what they've been doing for a while now.

I think it's safe to say they'll be prioritising their pet over 'Bitcoin Core' no matter what. However if you go into the exchange business you're suddenly subject to a lot more heavy handedness from authorities so it's conceivable a disgruntled customer could raise hell.

Not sure how Roger will make his peace with having to be compliant.

[o_e_l_e_o]

Just only I hope they don't ruin people by tricking them into buying something other than Bitcoin, cause that's what they've been doing for a while now.

I think it's safe to say they'll be prioritising their pet over 'Bitcoin Core' no matter what.

Agreed. Perhaps the number of newbies they are scamming with their current "Bitcoin Wallet" app is falling off. Roger needs to keep his greed satiated somehow. This is the logical next step in drawing in a wider audience of newbies to trick in to buying their useless fork. Also gives them a nice centralized platform under their control to directly manipulate the BCH price and dump on as many unsuspecting newbies as possible at once.

I'm also curious as to who in their right mind would trust Roger Ver with all their KYC information or to hold their coins for them.

[1Referee]

Funny is that Roger Ver is no longer the CEO of Bitchcoin.com; https://www.ccn.com/roger-ver-bitcoin-ceo/

I think it's more an attempt to manipulate prices, especially after how OKEx more or less backed BSV and this shitcoin is being pumped heavily over there. It comes too close and is just one doubling away from a near equal market cap, and thus hashrate.

Also don't forget that Roger Ver in 2013 claimed that MtGox was a healthy exchange and that the problems they had were caused by the traditional banking system (video can be seen in above link). Obviously, it turned out to be one big scam.

[DooMAD]

Funny is that Roger Ver is no longer the CEO of Bitchcoin.com; https://www.ccn.com/roger-ver-bitcoin-ceo/

I think it's more an attempt to manipulate prices, especially after how OKEx more or less backed BSV and this shitcoin is being pumped heavily over there.

One of the comments below the article pointed out that he has a criminal record and it probably doesn't look good for an exchange to be run by a felon.  Seems to be as good a reason as any to step down as CEO.

[BitHodler]

Since the exchange will operate within the bitcoin dot com portal, I'm pretty sure that we can expect Bitcoin to be referred to as Bitcoin Core. Another thing is that he will pair BCH to other coins and ignore the BTC pairs.

It's quite a bummer that he isn't on our side with how influential and dedicated is. He turned into a jealous ex who thinks he has been cheated on therefore will do everything he can to inflict pain on the opposite side.

I kinda understand him though-- he did more for Bitcoin than most of us combined who are here just waiting for the price to increase. It turned into a store of value tool now that people accept that this is all we have....

[Vishnu.Reang]

I think Blockchain.com is trying to bring in more revenues. Despite being used by tens of millions of cryptocurrency users, Blockchain.com is not a profit making venture. Their wallet business doesn't bring in any revenues. So they may be trying to capitalize on the user-base to get some cash. But opening an exchange is not child's play, especially after so many exchange hacks.

[squatter]

Since the exchange will operate within the bitcoin dot com portal, I'm pretty sure that we can expect Bitcoin to be referred to as Bitcoin Core. Another thing is that he will pair BCH to other coins and ignore the BTC pairs.

I'll be curious to see how that works out. Just because he builds it doesn't mean anyone will come, so I'm guessing the BCH pairs will be very thinly traded. It'll basically just be a gimmick to show that BCH has base pairs on an exchange.

The split with BSV has put Roger in an even harder position. Keeping BCH relevant can't be easy when its most diehard supporters followed Craig Wright out the door.

[malevolent]

I think it's safe to say they'll be prioritising their pet over 'Bitcoin Core' no matter what. However if you go into the exchange business you're suddenly subject to a lot more heavy handedness from authorities so it's conceivable a disgruntled customer could raise hell.

Not sure how Roger will make his peace with having to be compliant.

https://twitter.com/rogerkver/status/1122158924000444416

Never willingly cooperate with a government investigation, it’s like inviting a murderer into your house who says they just want to chat.

But I think he won't have trouble complying, back when he ran the memorydealers store he couldn't be convinced to underreport the value of the products he shipped abroad to help his customers save on taxes, even though it is/was a frequent practice among Asian businessowners.

I'm also curious as to who in their right mind would trust Roger Ver with all their KYC information or to hold their coins for them.

For those that don't remember: MemoryDealers.com founder Roger Ver abuses admin access at Blockchain.info.

[hatshepsut93]

Just noticed they seem to have rebranded too. The blue logo is unfamiliar.

But I do agree: more competition simply means better options for users, more choices, etc. etc. That's how it's supposed to work, and if Bitcoin.com's exchange does so well and convinces users to leave the others, then so be it.

Just only I hope they don't ruin people by tricking them into buying something other than Bitcoin, cause that's what they've been doing for a while now.

If it's crappy competition, then nothing changes for users - they'll have more options, true, but 99% of people will choose some of the top players. We've had a lot of news about launches of new exchanges, but can any of them really compete with giants like Coinbase and threaten their market share? I don't think so.

[Swordsoffreedom]

At the moment there is no need for another exchange, the market is already pretty saturated. However when bull run comes, and I'm thinking about the mainstream phase like 2017 June till December, there will be tons of new users and exchanges will be understaffed again so people will be waiting for identity verification. And that is the time when Bitcoin.com exchange will try to get their share of trading volume and I imagine they could be successful at it because of the name itself. But till then, I don't see the reason why one would use them instead of established and trusted exchanges like Coinbase, Bitstamp, Binance or Bitfinex.

[gentlemand]

However when bull run comes, and I'm thinking about the mainstream phase like 2017 June till December, there will be tons of new users and exchanges will be understaffed again so people will be waiting for identity verification. And that is the time when Bitcoin.com exchange will try to get their share of trading volume and I imagine they could be successful at it because of the name itself.

I'd love to know how well prepared they are if there's to be another bubble. Anyone observing the exchange business thinking of getting into must be aware of the utter seizure of most of them. You could grab a vast amount of custom if you could offer an alternative that was ready for it.

I don't think anywhere can afford those staffing levels for something that might last a couple of months every few years but perhaps they'd be idle enough to be able to handle some bursts when they happen.

[CryptoBry]

Just noticed they seem to have rebranded too. The blue logo is unfamiliar. But I do agree: more competition simply means better options for users, more choices, etc. etc. That's how it's supposed to work, and if Bitcoin.com's exchange does so well and convinces users to leave the others, then so be it. Just only I hope they don't ruin people by tricking them into buying something other than Bitcoin, cause that's what they've been doing for a while now.

We live in a free world and so any organization can start a business anytime and anywhere as long as it has complied with all regulatory requirements. The bottom line is that it is all up to the market to decide which business outfit (or cryptocurrency exchange in this case) they want to support.

Yes, I also have a strong issue with Bitcoin.com deceiving its readers and supporters by selling BCH like it is the real Bitcoin. I hate any business using deceit in convincing its market and I am expecting that it will cease and desist from doing the same strategy once it will have an exchange of its own. Good luck to them, anyway.

[hugeblack]

Who will trust Roger Ver in one dollar? Let alone trust your personal data or even secure your currencies.
The same applies to Blockchain.info and the famous bugs of not updating the wallet data that led to the failure log-in of old accounts.

On the financial side: this guy is good at getting the money out of the bubble, but you should withdraw your money in a timely investment.
Overall it is not good to earn using his methods.

[Kakmakr]

Roger Ver is hanging on by the tip of his fingers and I truly would not want to be in his shoes when this thing goes up in flames. There are so much animosity directed towards him that I would not be amazed if this platform would become one of the most targeted exchanges in the world. 

His hostile takeover of Bitcoin failed and people are still angry at him for all the dirty tactics he used to boost Bcash by hanging like a parasite onto Bitcoin <BTC> domains <or something that looks very similar> 

[gentlemand]

Roger Ver is hanging on by the tip of his fingers and I truly would not want to be in his shoes when this thing goes up in flames. There are so much animosity directed towards him that I would not be amazed if this platform would become one of the most targeted exchanges in the world. 

He's got Craigy to hide behind these days. And traders are such shameless hookers that if he offers them the lowest fees and best liquidity they'll turn up there even if he personally pisses on their bed.

They've got an uphill struggle to gain proper traction but they have enough zombies and people fooled by their name to get up and running for a bit. Then their virtues, or lack of them, will decide its fate.

Do they give figures on how busy local.bitcoin.com is?

[malevolent]

Roger Ver is hanging on by the tip of his fingers and I truly would not want to be in his shoes when this thing goes up in flames.

He was already independently wealthy in 2011-2012 when Bitcoin was cheap, and has fingers in (almost) every pie (bc.i, bitpay, kraken, and many more). Even if his exchange fails he'll be all right.

He's got Craigy to hide behind these days.

Didn't they stop being best buddies?

[gentlemand]

Didn't they stop being best buddies?

Yes. Craigy tried suing him for calling him a fraud but the case was tragically thrown out.

Much of the hate Roger was attracting will be directed towards his former dearest friend who is way more hysterical and ludicrous. Bcash looks pretty sensible and mild compared to BSV.

[figmentofmyass]

Didn't they stop being best buddies?

Yes. Craigy tried suing him for calling him a fraud but the case was tragically thrown out.

Much of the hate Roger was attracting will be directed towards his former dearest friend who is way more hysterical and ludicrous. Bcash looks pretty sensible and mild compared to BSV.

it's a win-lose situation for roger. on one hand, wright and BSV attract all the ire of bitcoiners---his satoshi claims, repeated fraudulent behavior, threats to dump BTC. that takes a lot of heat off roger. on the other hand, BSV totally cannibalized bcash's user base. it took away most of the bitcoin unlimited crazy types, leaving bcash a shell of its former self. so it still sucks to be roger/jihan.