Freiexchange Ive watched for a while, probably traded there in the past. Its a good exchange, useful, well made like freebitcoins, etc. But its purpose is to unload or create liquidity for bags.
Your assessment of purpose is off the mark. Fedde was quite explicit about his original motivation, that of providing an exchange for the otherwise-untradable Freicoin - hence the name of the exchange. Since then he has been variously amenable to other altcoins in a similar position regards lack of listing and was kind enough to respond positively to my pleas to add (firstly) SLM and (secondly) DTC.
There seems to be something of a contradiction in your argument - "the financial part is a function of its success" yet "its purpose is to unload or create liquidity for bags". Isn't this how it inevitably works?
What's missing here is a practically useful definition of the distinction between "ethically created useful coins" and "a lot of shitcoins" and not just personal opinion.
Establishing and operating a cryptocurrency exchange is exactly that - "operating". It obviously does not necessarily require the owner/operator to possess technical skills, merely the ability to commission others to deploy them.
BTW, your notions about AI and its possible role in cryptocurrency are rather fanciful, I'm sorry to have to tell you.
Cheers
Graham
I remember Freicoin, and I remember spending quite a while trying to figure out the logic of some long word he used to explain something about interest rates and a fair distribution of money based on something confusing about the working class or something. I respect somebody who has political beliefs but it seemed to be a well intentioned shitcoin. The rest of your first paragraph says what I said while claiming to refute it.
Regarding your second paragraph I think you are deliberately misreading what I wrote. You said The core problem is that setting up and running a crypto exchange .......is largely thankless (both socially and financially) and my reply was the financial part is a function of its success. My suggestion was regarding a math etc coin exchange. You are then taking an unrelated comment specifically about Freiexchange and trying to meld the two together. Freiexchange was created to unload or create liquidity for bags. You admit as much in this comment. It isnt meant to create a market for high quality coins. To be honest, not many people are going to stumble on most of the coins there and say wow, great coin. I traded a lot of those coins. I get the appeal. But at this point they are bags. Youre right it usually works out that a small exchange is meant to unload bags, if thats what you mean by isnt this how it inevitably works.
As far as definition of good coin vs shitcoin.
A very high quality coin will have a very slow emission with no premine, ico etc, it should be a productive algorithm that does something with its hashing power, etc.
The vast majority of coins are clones that do nothing or do something trivial, and they rely on drawing in people whose entire goal is to sell them for a profit. There used to be a lot of chatter about using this or that coin as the main currency in this or that place, but at this point most honest people will tell you they buy a coin because they think it will go up and they will be able to sell it for a profit.
Some few coins attract a completely different type of person. A lot of people mine gap coin because they feel like it is accomplishing something. Lots of people lent their computers to BOINC and similar projects before Gridcoin, and getting that coin to sell isnt their main motive.
As for your being sorry you have to tell me my notions about ai are fanciful, are you able to articulate something specific? I get that you are trying to minimize or counter my statements about ai, but if you actually do have a better knowledge on the subject then try to put into words what it is you disagree with.