But what and who determines what a "shitcoin" is? The market. The market tells me that they don`t think i.e. blackcoin is a shitcoin, based on volume, marketcap and general interest. Which coins will still be alive in 2 weeks, 6 months or 1 year from now, no-one can foresee. The market will decide, not the exchange. Or should we decide for the market? Saying that only low volatility and stable coins is worth listing on our exchange? Saying that on our exchange, we doesnt believe in coin x,y,z, because we think they will be gone in a while, or we will see a large priceincrease, then it will get a dump and die? What coins will maintain it`s price and current volume in 3 months? If you have this ability though, I`m jealous of you.
I`m not going to go into this to deep, but look at two coins everyone believed in: worldcoin and fastcoin. What happened there? Are they shitcoins? Who could have seen that coming? At the time, should the exchanges not list the coins "just in case"?
And i disagree with you, an exchange can not possible "aid in pump and dumps", they only make it available for trade on the market. Whether or not some players decide to pump and/or dump it, you cannot blame the exchanges. The manipulation is another part of course, falsifying information like telling the world that mcdonalds has an agreement with takcoin, to get a price-increase will be dealt with when regulation is in place (if/when that happens). A control-organ would investigate the price-increase or decrease, but a lot of the times it`s just normal activity. Especially in stocks with low liquidity.
You make the parallells to nasdaq as an example, are you telling me "pumps and dumps" are not occuring in the stockmarket? There is high and low volatility in different stocks, and price-increase and -decrease.
This is getting out of hand, even though I love discussing the topic.
But, lastly, a conclution on my part: Alcurex can not be an exchange sitting on it`s high horse and try to dictate what coins are good or not. That`s not being visionary, that`s being naive. We need to follow the markets and the trends, to even get it started with a customerbase and retain it. From the IPO: "
The exchange features a variety of different currencies to choose from and will keep forever growing as new promising cryptocurrencies are released. The exchange will still maintain a set of established cryptocurrencies."
Are you answering me here? Because you are claiming things on my behalf that I never said and that is no good. I have to refrain from further discussion if that is how it is going to be, I hope you understand.
Another option regarding coins; Alcurex could list more established coins in one section (LTC, PPC, XPC, VTC & others) and less established coins(PIGGY, FLAPPY, AUR +++) in another section. This is just visual, a way for us and traders to easily see what is new(and therefore risky) and not. This way we can distinguish between real coins and potential shitcoins/pump and dump coins. Once a coin has proven it is more than a pump(good community, Dev, innovation, progress etc) they can be bumped up to the established section. This way Alcurex can allow bad coins to be traded and still be a serious player. (no smearing of the Alcurex brand even if a Dev dumps a premine). Make it clear for traders there is a certain risk associated with trading in the new section. What do people think of this?
This is somewhat a good idea, but how would you categorize them? I don`t think people have any idea about the date a coin was released, unless they do a background-check. Tradingvolume the last x weeks? Most famous in reddit? How would they find the coin they are looking for? It needs to be very intuitive, if the users has to search and click around a lot between the markets and submenus, they get annoyed. Accessibility is key.
And again, you mention "bad coins". If that is what the category get known as in the public, as what the owners of alcurex is calling a trash-bin, prepare for flaming and attacks on all fronts from the respective communities. But in all, an interesting idea, just want to put my thoughts out there.
PS: Well done mcr and halibit, important step forward!
In the sentence prior to "bad coins" I described them as "potential shitcoins/pump and dump coins". When such a coin is dumped it turned out to be a bad coin. "Potential shitcoins/pump and dump coins" is a long sentence so I shortened it down to "bad coins". It seems to me you might put too much into what words I choose to use, and not the message as a whole? Mildly frustrating. Take into account English isn't my first language.
It just words. Do you really think I want it to be know as a trashbin? Where do you come up with this? The word "bad" is a good description of a coin that has it's premine dumped, there is nothing more to make out of it.New coins are listed in the new section. After some time when certain criteria are met they are bumped up. This is an idea, so don't ask me what criteria or how much time. To make it as "fair" for all coins a checklist could be the way to go?