Exchanges
Dear friends,
It was a bit shocking for us: seems, the only thing our community worried about, is not a working product or a development progress, but exchanges and local token price fluctuations. Okay, let’s make it clear
More Exchanges
Crypto market becomes more mature. Back in 2016 and early 2017 many exchanges were listing almost anything looked like token. Now there are new environmental issues we should deal with: governments, flooded market and rumors.
1.
By the end of 2017 governments have finally got familiar with crypto and started the regulation. For example, Korean gov recently shut down all new users registrations and reshaped the banking account models. So, we are waiting for January 30, when they will release their final rules. That also affects Coinlink new user registrations, deposits and withdrawals. We are in touch with Coinlink team: they want to provide full service, but they can’t violate the Korean law.
2.
There’s a huge amount of tokens, and the number is growing exponentially. It’s roughly 1500 coins at coinmarketcap, and 6000+ new token listing applications filled at Binance. It doesn’t matter if you know the exchanges’ CEO personally or you’re ready to pay 1M+ USD listing fee. Exchanges just can’t handle that token explosion. We need to let them upgrade their processes and do their work.
3.
Crypto market is now mostly driven by rumors and twitter.
We’ve even created a new term: tweet-coin,
the project with only one real asset — their own twitter. Feel free to use :)
Karma is not going to be a tweet-coin, no matter how profitable and easy it will be to manipulate the community with rumors and inflated expectations.
Moreover, the top-30 exchanges hate rumors on “soon to be partnerships”, “started negotiations”, “discussing listing opportunities” and other bullshit. Nobody likes to feel used by others. Nobody likes to affect their reputation via impatient and cowardly actions of random third-party projects.
That’s why Karma will not publish any news or rumors about future exchanges listings. The only things we can say:
a. We’re making our own due dilligence of the exchanges. Even if somebody is in top-30, that doesn’t mean there’s no legal or security issues.
b. We’re sending all the documents to those exchanges, that have passed our due dilligence.
We will publish the listing news only after signing the contract with exchange and only after the exchange will allow us to post something.
Sorry, we’ve gotta start some fair play in this greedy market.
Our name obliges us to be honest.
Local price ups and downs
The only thing we can tell you about the token price is the following:
our team members and fellows are buying during last 2 weeks :)
Our founders, George and Artem, are still HODLing their 0.25 billion KRM stashes (0.5 billion in total), you can see it in our public blockchain:
https://krm-db.com/@g-test (few millions of KRM stucked at the exchange due to temporary withdrawal block).
https://krm-db.com/@artkarma1306
Today’s price means almost nothing.
Trading volume is low, because of Korean government issues and Coinlink have to temporary block new users registrations, deposits and withdrawals. New exchanges are in progress (see above). That’s why it’s easy to affect the price with only 10 000–20 000 USD in a pocket.
So, the only meaningful advices we can give are the following:
- be wise,
- be patient,
- think long-term,
- dive deeper into the projects you’re investing,
- free your mind from twitter distraction,
- search for the locally undervalued things.
Cheers
ˆ_ˆ
