Day traders are exiting Agoras (Tauchain) on news of Bittrex delisting and this is a Good Thing ™
For those who follow my blog you know that I'm a long time supporter of the Tauchain project. Those supporters also know that I do not support or welcome the day trading that goes on for projects such as Agoras. Until recently, AGRS was the token which could be purchased on Bittrex to acquire Agoras and with it a stake in the Tauchain project. Due to legal concerns the Bittrex exchange eventually blocked new accounts from being made and now we have received news that also due to legal concerns AGRS is going to be delisted. This is understandable particularly because Bittrex is a US exchange and the SEC is gearing up to crack down on transgressions. The fact is, we do not really know whether the SEC sees AGRS as a security or what and until AGRS actually is launched outside of just being a token on top of the Bitcoin protocol (Omni), it really only represents the faith we have in Ohad Asor to keep his promise to his supporters who bought AGRS to fund his effort.
The good news is that this delisting is scaring away some of the day traders who really do not have a long term outlook or high confidence in the project. Many of these traders perhaps bought AGRS merely to sell it at a higher price later for BTC without even understanding what Tauchain is or watching Ohad Asor's videos. The short sighted traders leaving in my opinion is a good thing and below I'll list some reasons:
- The speculators pump up the price but it's artificial and does not reflect demand in the market. This artificially high price tends to go back down when these speculators panic sell as they are doing right now.
- The speculators are often uninformed about the nature of these investments and may in fact believe that the technical analysis is all important. This is fine for some projects but in order to understand the value of Tauchain (and AGRS) requires an understanding of long term risk vs reward along with fundamental analysis.
- The development of Tau continues on a daily basis and with every new functional addition to the code base, the more the AGRS tokens can potentially be worth, because the level of risk goes down as the code base improves.
Summary
Day traders leaving hurts only day traders. This does not hurt long term investors who know it is going to take years in order to build Tauchain. Those who know about computer science know that writing a compiler takes 3-6 months best case and the first iteration of the compiler-compiler from Ohad Asor was released in December. This is clearly going to take some time to develop and while it makes sense that people discovering AGRS are going to want to buy in, and there should be other exchanges to do that, I do not think Bittrex is critical.
Some suggested exchanges:
- https://mercatox.com (UK based)
- https://tradesatoshi.com/ (UK based)
- https://www.lykke.com/
I recommend that supporters of Agoras who want to see it listed on an exchange contact a UK or European based exchange such as in the examples listed above. US exchanges are tightening up to minimize regulatory and legal liabilities. Exchanges in other parts of the world do not have these same concerns. Any of these three exchanges are good exchanges and I've used them all before.
I really wanted some of this and price is more fair and correct now. Not 100% clear, can we buy on one of the 3 exchanges you mention?
Push to get it listed on those exchanges. Right now it's only on Upbit.
Ok, thanks. Will first buy it, then push it :-)
woow very goood news....thanks for shere.....@dana-edwaeds
It's a good news post..thx to your post!!
@dana-edwards, Good news to be known by traders in bittrex, i am still learning about cryptocurency. ;)
It may not affect you as much because you are in Asia. Asian exchanges can list AGRS. Bittrex affects Americans primarily.
@dana-edwards, Thank you for responding to my comments. I'm from Indonesia is still a beginner in the world of crypto. hihi
Thanks for the post
How long do you think until tau chain is a usable product, you say years?
As long as it takes. At this point in time I see on Github a partial fixed point compiler-compiler and an Earley parser.
See the Earley parser: https://github.com/IDNI/tau/blob/master/parser/earley.cpp
From what I can see the Earley parser is no where near ready or complete. It's in the draft stage where it's being worked on. Earley parsers deal with formal grammers, and specifically context free grammars, which are essential for formal languages such as programming languages. An Earley Parser simulates a non-deterministic finite automaton essentially.
So we have to look at the current state of Github: https://github.com/IDNI/tau
And the promising aspect is that the design for Tau appears complete. The implementation phase occurs right now. I cannot know how quickly or slowly it will take Ohad to write the code but I do have a rough idea of what kind of code needs to be written. When you consider testing and so on, we could see the first alpha this year at some point. I don't think we will see the beta this year.
It took two years to write something that a student could code in two hours days. IMO Tauchain is a scam.
What have you ever coded? Do you really think myself and all these others who have coding experience and degrees would hang around Ohad for 2 years if he wasn't onto something? If you think what he is doing is so easy then I challenge you to go beat him to it. Someone please go build an equivalent to TML and I will jump all over it.
You have to understand that the genius of Ohad Asor is not so much in his ability to code. Anyone can code once the design and specification is complete. The genius is in the 2 years of R&D that came up with that design! Just hacking together a parser? You're right, even I could do it as a hack. That doesn't mean I would get the design right which is where the actual challenge is.
For instance with Early Parsers if you don't understand why these particular parsers parse in cubic time (worst case) which means if the input is twice as long then parsing takes eight times as long, or that the benefit of these parsers is that it can parse ANY language, then you will not even understand what TML is trying to do. To say anyone could do it? It indicates to me that you don't actually understand what TML really is.
Interesting how some states (Wyoming) are embracing crypto and SEC is ramping up to conquer all. Arise Bank's court date of the century has been moved to March 13th
Nice post