Once again NovaExchange is making its way into a Terracoin weekly update.
This time though, it is to warn everyone to get their coins out of there by October 7th!
Yep, you have less then two weeks to remove all your coins from NovaExchange because they are shutting down.
You can check out all the details on their home page, so I won’t get into it.
But what I will get into is the rapidly changing exchange environment.
As we see more regulations come into effect, and more exchanges requiring KYC (Know Your Customer), we will see more exchanges close their doors to avoid future legal problems.
This isn’t necessarily a bad thing.
I have been a big proponent of increased regulations to combat scam exchanges, ICOs, and dishonest coin developers.
I am hoping that as we see grey area sites and coins disappear, we will also see new valid sites start listing coins that are actually legit and ethical. Instead of sites that will list anything as long as they pay enough.
All of what I am seeing means that going forward we need to be really careful and diligent when looking for new exchanges.
We need to find exchanges that meet not only their countries requirements, but the worlds. We also need to look at who runs the exchange, their longevity, and how they list coins.
For this we will need the communities help. Like always!!
Send in your suggestions for exchanges and help us pick a site that lives up to the standards that The Terracoin Foundation (TRCf) has set for ourselves!
Team Pay Proposal
The new Team Pay Proposal was going to be my main topic today, but there is a reason I don’t write the Terracoin Weekly Updates ahead of time.
I put in our team pay proposal on Sunday.
This proposal pays the TRCf a symbolic payments for our work.
We also post a public ledger of all the team pay going back to the beginning of Terracoin having decentralized governance.
If you have an account on Services you can vote through there, or you can manually vote through your TerracoinCore wallet’s console. Here are some copy and paste commands to vote:
To vote ‘Yes’: gobject vote-many 35354632e5f4c7451d5da8b04cdf602c8b00e357312dc024124703223bcecd20 funding yes
To vote ‘No’: gobject vote-many 35354632e5f4c7451d5da8b04cdf602c8b00e357312dc024124703223bcecd20 funding no
To vote “Abstain”: gobject vote-many 35354632e5f4c7451d5da8b04cdf602c8b00e357312dc024124703223bcecd20 funding abstain
I had a couple of other things I wanted to talk about this weekly, but they weren’t pressing so I will get to them next week!
Get your coins off NovaExchange!
Make your voice be heard by putting in discoveries, proposals, and voting on those proposals!
Hope everyone has a good week through this Bitcoin slow price grind!
One month ago, we were at 0.00000360 BTC (.0372 USD) and today we are at 0.0000261 BTC (.0209 USD).
A year ago, we were at 0.00001644 BTC (.1070 USD).
*With the state of dead Cryptopia our volume is low, so our rank doesn’t show correctly. Once a new primary exchange that is listed on CoinMarketCap is decided upon, we will see a recovery of volume.
We are ranked 1051 on coinmarketcap with a market cap of $480,201 USD. Last week our rank was 1039 and our market cap was $597,474 USD.
Enabled Masternode count today is 905. Last week our enabled masternode count was 906.
Masternode Count Source: https://services.terracoin.io/
Terracoin Foundation Masternode Donations
Mattermost (This is The Terracoin Foundation’s primary forum)
Last Terracoin Video Update