Ive been a Smart holder for a while and just joined this great site.
Hello From Queensland Australia
For about 8 years I’ve been into the world of Cryptocurency and all the nuances and annoyances that come with them.
I think its great how THIS community is throwing out ideas and proposals, i think we all would like to see Smartcash be valued at ten bucks a coin one day
Anyway while im waiting for my stove to heatup so i can light a smoke…
I had this idea,
OK you know how Binance has its own exchange??
And on Binance as with others it has its trading pairs, ie: eth, ltc, Btc, Usd,
But on Binance specifically it has its own Trading pair, called BNB/coin
Binance regularly hosts competitions where they might award prizes to the people who trade using the BNB pair more as opposed to BTC or LTC etc…
So what about a Smart Cash Exchange?
Is it possible? doable? bad idea?
Personally I think Smartcash has one up over BNB coin because Smartcash has already got a following, it has trust.
Binance built its exchange first and then added the BNB coin purely for extra Turnover. it serves no real purpose except that you get a discount trading if you use the BNB pair this pushes up the price, and to keep the price high Binance regularly burns the aforesaid coin,
During a Bear Market when Cryptos are falling the BNB coin is steady because its price movement correlates to volume not whether users buy it or not because they don’t, well not specifically.
Its price depends on its Exchange client base.
The cons of BNB that Smartcash wouldn’t suffer is that as its just a trading pair coin it it has no function in the outside blockchain world,
However Smartcash iisnt limited inthis way, as you know it is in the world in realtime being developed, promoted, bought and sold in many places in many Countries.
A Smartcash exchange could offer trading pairs BTC/SMART LTC/SMART ETH/SMART , i dont know anything about techincal side of it if Smart can be paired ??
I do know a popular exchange like binance can offer more than just trading in the form of prizes and competitions,
Personally I have no Affiliation with Binance and have not visited their site for a while as i dont day trade anymore.(lost it all) lol
Im sure a bunch of you guys are clued in and can nut it out would be good to see if it would work,
If not then thats fine too,
Theres lso much going on