Sam, would you consider listing HEX on the exchange so that people can short it? I used to be a big Richard Heat fan and investor but I recently found out that he is a total scam. Would be nice to see how the market views it by allowing people to go short!
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This is by far the biggest problem in crypto. People are able to launch a coin and pump it up for years before a good exchange allows a true free marketplace to coexist. You could change this by allowing the scams exposure to the truth. List HEX and let’s see!
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Please consider opening up HEX trading and support it on the margin exchange as well. Let’s see what this project is truly made of. One good way to detect a scam is to let the market short a scam if they choose to.
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Margin trading would be tough--you'd have to find someone willing to give a borrow to short it.
Futres are more doable, though again unless you could really get people who believed in it to trade them, the futures might trade waaaay below spot.
According to Richard Heart there’s tons of holders and liquidity is amazing. If are not willing to put them to the test, how would you recommend a market situation like this gets approached? If people can’t go short on a scam coin, won’t the scam just go on longer?
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Yeah I do think your suggestion is basically right. We've though about listing futures on it--one key thing would be to really communicate to people "we're not endorsing this product at all by listing futures on it, we're giving you a way to short if you want!"
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When the United States regulated futures launched the price of Bitcoin plummeted because the big-time Wall Street is had a voice.The little guys involved with scam coins don’t have anyone representing them, and they have very little voice.
Sam + CZ, why don’t you guys familiarize yourself with Richard Heart and HEX. And see what you think the solution is for dealing with something like this. Apparently the SEC and the FBI haven’t taken action yet.
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I take it you don't want crypto to save you from counter party risk and centralisation. What then?