Gridcoin & C-Cex (Update: Resolved, GRC Stays as explained by @barton26)
Update: check the response by @barton26, GRC exceeds the 0.5BTC volume and stays listed, after someone's intervention with sale order worth 1.6 BTC
Hey Guys,
as discussed by @ragnarokdel : https://steemit.com/gridcoin/@ragnarokdel/c-cex-is-delisting-gridcoin Gridcoin will be delisted.
I was in touch with C-Cex to discuss what we can do to prevent this from happening, unfortunately, it's very strait-forward, we need to provide at least 0.5 BTC of daily trading.
Can we coordinate to somehow match the KPI required?
What I can do is temporarily disable trading on gridcoins.org directing the customers to C-Cex untill we manage to prevent delisting. (and will think of more approaches).
Any other ideas on how we can boost the trading volume? Even by GRC->Other Crypto->GRC with small losses seems like an idea. Let's see what we can do to keep GRC active on C-Cex.
If of any help, I am willing to write a script that will show us at anytime, Green, Yellow or Red, with appropriate trading volume that we need to match.
Best Regards,
S.
Our current daily volume exceeds 0.5 BTC on C-Cex and we have been taken off the list of coins they are removing in two weeks.
Thanks barton26, whatever you did, these are great news. I'll update the topic that no action is required. Thanks for the intervention.
I did nothing lol. I am just reporting what another user on reddit was saying.
Anyhow, it's good that we are staying :)
This might be a controversial opinion, but I'd rather see them delist us. The exchange used to be good, but it's pretty sketchy now (what with the pay-to-get-listed, random multi-week "holidays", the short notice they give people to withdraw delisted coins, etc.) and the volume has been terrible there for ages because nobody trusts them.
I say let them delist whatever they want, and here's hoping they go belly-up soon. It will save newbies to the crypto scene a lot of pain later.
If @nateonthenet is right, then expect C-CEX to go out of business. So, the issue of listing on it will become moot.
Hmm..that makes sense to some level. I did not think from that point of view. Your point of view is worth taking into account.
My point of view is somehow different, backed by philosophy "The more is better". Anyhow, let's see more opinion of community and act accordingly.
I would agree these requests in terms of minimal trading value do not benefit to cryptos in general nor them on a long term.
However, it would be worth thinking how much we get by being placed there, how much we need to push in order to keep that placement, against, for example paying a promotion on some website. Then do a quick math to see if it's worth it.
Not a big fan of them also, But even less a fan of seeing GRC delisted from any service.
not only that but I believe they dont even accept new users registration at the moment.
The only thing c-cex has going for it is you dont have to deal with KYC to begin trading unlike other exchanges.
I would rather have as many exchanges as possible as well. If I knew how to code worth a shit, I'd probably make a proper grc market myself (kijiji like or whatever)
The invitation system was disabled recently which means that anyone can register for a new C-Cex account.
Announced in this tweet on April 13th
I would also like to see GRC on a variety of exchanges.
Gridcoin has managed to trade enough volume on C-Cex to stay listed in the past, there has been a drop in trading since the GRC wallets were offline for several weeks after the version 3.7 wallet update but the volumes have increased again in recent weeks.
I expect GRC will continue to meet the volume threshold so long as C-Cex don't scare away too many of their existing customers with their new coin (de-)listing policies.
keep gridcoins.org open :o
Will definitely do, although we are still dealing with legal things, as bank is not happy with crypto-trading model, even they were assure us there would be no problem during first contact. This would be crucial to solve VAT issue. Hopefully we will manage to find the common language with bank and payment processor, although they seems to be happy to promise anything in order to acquire customer - then act like nothing was agreed upfront. We will see if it has a future as planned, or there would be other obstacles along the way. Anyhow, I would continue to push for an initial deal that was promised, as we were clear what we plan to do and how.
Seems like not all of us may hodl it 😒