Quote from: pitan on July 06, 2013, 01:39:01 AM

The problem is there is not enough volume, in regards to the website I understand what you are saying. Until the trade volume is substantial if not there will not be an improvement or any other new SG exchange

Start with Walmart and ask any successful company that trades in commodities: "If your trade volume is low in a worldwide market of a certain commodity, can your volume be increased by charging the highest markup in the world?" The answer is obvious to a school child.

That's what FYB is doing though - charging top-level markup on a transaction in a widely available commodity. If they want more volume, it's exactly the wrong thing to do.
It's so wrong to do from a business perspective, it makes me wonder if FYB is actually a Singapore government honeypot, which they hope to use to keep track of local btc flow. Huh

If it's not, we've seen a lot of "exchanges" like that come and go in bitcoin land.