Bittrex are just trying to kill Mintpal (big volume on mintpal for BC). That's why they want to offer BC market on Bittrex. It's simply a question of business
My2c
But we all know that a "question of business" is subject to question... This move BC and Bittrex are making could go wrong, correct?
What if/how might/are there signs... they will fail?
I'm only asking as an investor.
Well, the biggest sign is that payouts do not occur or are significantly delayed without a valid reason (i.e. coin hard fork & new wallet release or blockchain issues). Basically, if something only happens on that exchange, but not on others that carry the same coin pairs... get your coins out ASAP!
As an investor, I wouldn't bother. I think this may have been presented better - the idea is
not to start using Bittrex as your
wallet... that would be a bad move (just as it is a bad move if you have all your BC on MintPal, Cryptsy, etc.). The idea is that if you are actively
trading BC (selling
or buying) try to do a little more of your business on Bittrex rather than just doing all of it on Mintpal or Cryptsy.
I have major reservations about Bittrex myself. Don't get me wrong, I'm not questioning their stability or security... simply that I have a problem with the pay-for-pairing model of exchanges these days. I have exactly the same issues with poloniex, Mintpal, and to a somewhat lesser extent Cryptsy (I have much bigger issues with speed and reliability as far as they are concerned).
I have great hope that the upcoming BC-centric exchange will resolve these issues for myself. The simple problem is that we're literally drowning in shit-coins... and these "give me 1BTC and I list your coin without question" exchanges aren't helping things at all. We need more exchanges with extremely high entrance requirements (i.e. must be at least 3 months old, must have at least $1M US in market cap, active development, etc.).
Those are the sorts of statistics that show a coins true colors... not the fact that the devs or community can scrape together a few BTC to buy their way in to an exchange.
I certainly hope those without the capital (either BC-wise or BTC-wise) do not just blindly stick all of their coins on any exchange - including Bittrex. We do need liquidity, but we don't need people that easily panic or cannot afford to lose coins in bad trades filling up the exchange just to look good. I'd rather
never see a BC secondary market than see a bunch of small BC portfolios lose coins. Never put anything on an exchange (
any exchange) that you cannot easily afford to lose.
so do we have to deposit some bc on bittrex or do we have to actually trade with it? don't wanna sell any precious bc
how much liquidity do they need?
It needs to be traded (or at least added to the market) to be considered liquidity. If you are just going to park it in your 'wallet' on the exchange, don't bother - keep it staking and encrypted! If you don't want to sell at the current prices, that's just fine... put a sale in at 30K sats... or 50K sats... whatever you feel would be good enough for you to give up the BC you offer. Even though it doesn't technically add liquidity in the current market it does in general - because even if you put 1000BC on at .001 that's another 1000BC that
could be purchased. Likewise, even if you only have .25 BTC, and put a buy in at 5K sats... it's unlikely to ever fill (but you'll have a nice grab if it does) but you have added .25 BTC to the total amount available to sellers. It's then up to the traders to decide whether it's worth it at those prices to execute or not... but at least the liquidity supports the trade!
