Bible Pay

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  • jmmc
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Proposal - listing BBP on MCT+ p2p trading platform
« on: August 21, 2018, 06:22:20 am »
MCT+ (My Crypto Trade Plus) is evolving P2P alt exchange. Listing is currently very cheap (even for prime position on the platform - 7000 MT = 0.09 BTC) = 900,000 BBP (at 10 satoshi), rest will be sent back to BBP foundation)

I suggest listing as prime (7000 MCT fee) because it's not expensive and it add extra status.

BBP needs to expand further and this is imho a great opportunity to bring BBP before more investors and increase awareness. And it's still very unexpensive.

It can be listed for less but I highly suggest pay for Prime position to keep BBP on top and while it's as easy as now.

Links:
https://mct.plus/
« Last Edit: August 28, 2018, 08:23:57 am by jmmc »


  • sunk818
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #1 on: August 21, 2018, 12:44:15 pm »
I feel like we have enough presence on multiple exchanges where adding yet another exchange is not meaningful nor helpful. I think there's enough venues to liquidate. I think BBP efforts should either save up for a big exchange with high market volume like Bittrex or focus investment in advertising, marketing, and/or public relations to bring more users to BBP. More users, more trading volume. I worry adding another exchange will spread BBP too thin. IMHO. How do others feel?


  • jmmc
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #2 on: August 22, 2018, 02:17:29 am »
I will add some supporting arguments why to list BBP at MCT+ platform and why it's not just another exchange:
1) It's ALT platform - you can trade alt2alt directly
2) You can create ANY pair between BBP and any other supported coin there (not just BTC, USD,...)
3) You can made offers (even private offers) for selling complete MN
4) It can serve as a standard Escrow
5) Now (even prime) listing is very unexpensive and platform seems to grow and be more important (listing will be more expensive later)
6) Low fees (no fees right now until end of beta stage)
7) In time they will bring also secondary exchange (similar to common exchanges) so it's just paying once for two kinds of exchanges actually.

As you can see, it's not just another exchange. Considering all of this it's no brainer imho (especially for this welcoming price). But it's up-to-you  guys,  the proposal transaction was sent to BBP network. Feel free to vote as you like when you see the proposal there.
« Last Edit: August 22, 2018, 05:45:26 pm by jmmc »


  • jmmc
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #3 on: August 24, 2018, 01:53:53 am »
I created the proposal, paid 2500, txn is confirmed but unfortunately it doesn't show in proposal list so it seems there might be a bug and proposal is somehow broken  (txn: e63fadf9e094b09bca2576f8b7f703b3b2bd6889e681c647c2881970ea7a8550 ). So if anyone of you can create valid proposal, feel free to do so.


  • 616westwarmoth
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #4 on: August 24, 2018, 07:03:50 pm »
I will add some supporting arguments why to list BBP at MCT+ platform and why it's not just another exchange:
1) It's ALT platform - you can trade alt2alt directly
2) You can create ANY pair between BBP and any other supported coin there (not just BTC, USD,...)
3) You can made offers (even private offers) for selling complete MN
4) It can serve as a standard Escrow
5) Now (even prime) listing is very unexpensive and platform seems to grow and be more important (listing will be more expensive later)
6) Low fees (no fees right now until end of beta stage)
7) In time they will bring also secondary exchange (similar to common exchanges) so it's just paying once for two kinds of exchanges actually.

As you can see, it's not just another exchange. Considering all of this it's no brainer imho (especially for this welcoming price). But it's up-to-you  guys,  the proposal transaction was sent to BBP network. Feel free to vote as you like when you see the proposal there.

First off, thanks for the proposals.  The more voices we hear the better we become.

I'm still of the opinion we don't need another exchange unless it were a top 20 or so one.  Having too many exchanges weakens our market and can lead to de-listing for insufficient volumes.  I do think P2P exchanges (i.e., decentralized exchanges) are harder to grasp than centralized ones.  This one is still in beta and so while a very very good price, it's going to be hard for it to gain ground in my mind.  Additionally having an exchange that is hard to use (or offline) ends up reflecting poorly on the coin to some extent.  The fact the underlying coin (MCT+) is not listed on CoinMarketCap is not a good sign.

I would think even though the price is low now, we'd be better off paying a higher price later IF the exchange can deliver on it's goals and we have the volume to support it.



  • jmmc
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #5 on: August 25, 2018, 01:27:28 am »
First off, thanks for the proposals.  The more voices we hear the better we become.

I'm still of the opinion we don't need another exchange unless it were a top 20 or so one.  Having too many exchanges weakens our market and can lead to de-listing for insufficient volumes.  I do think P2P exchanges (i.e., decentralized exchanges) are harder to grasp than centralized ones.  This one is still in beta and so while a very very good price, it's going to be hard for it to gain ground in my mind.  Additionally having an exchange that is hard to use (or offline) ends up reflecting poorly on the coin to some extent.  The fact the underlying coin (MCT+) is not listed on CoinMarketCap is not a good sign.

I would think even though the price is low now, we'd be better off paying a higher price later IF the exchange can deliver on it's goals and we have the volume to support it.

I can see your point. Volume problem you describe will not be solved neither by MCT+ nor by a big exchange listing. MCT+ could rather add some more BBP visibility and safe p2p trading platform. Current exchanges where BBP is listed have quite decent volume for many other coins but BBP is still lacking there. It means BBP is not attractive to traders from one reason or another. It needs to be addressed.  Imagine BBP is miraculously listed on Binance, what would happen? Spike first day, then hard drop, then volume declining close to zero in no time a and soon BBP would be delisted. We need to think about why volume is so low on CURRENT exchanges. What needs to be done  to reverse it. I have some ideas and right now I think BBP trading bot would be the best way to address this right now. Also BBP needs to be visible on as many emerging platforms as possible mainly (also for PR reasons at this time). I have no doubts about MCT+ platform. These guys are doing great having clear roadmap that is implemented in time. Of course as everything in crypto space, there are no 100% assurances. MCT+ listing on CMC is delayed (probably because of duplicate symbol usage) but in progress, that's not an issue.
« Last Edit: August 25, 2018, 01:37:06 am by jmmc »


  • jaapgvk
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #6 on: August 25, 2018, 06:38:44 am »
I can see your point. Volume problem you describe will not be solved neither by MCT+ nor by a big exchange listing. MCT+ could rather add some more BBP visibility and safe p2p trading platform. Current exchanges where BBP is listed have quite decent volume for many other coins but BBP is still lacking there. It means BBP is not attractive to traders from one reason or another. It needs to be addressed.  Imagine BBP is miraculously listed on Binance, what would happen? Spike first day, then hard drop, then volume declining close to zero in no time a and soon BBP would be delisted. We need to think about why volume is so low on CURRENT exchanges. What needs to be done  to reverse it. I have some ideas and right now I think BBP trading bot would be the best way to address this right now. Also BBP needs to be visible on as many emerging platforms as possible mainly (also for PR reasons at this time). I have no doubts about MCT+ platform. These guys are doing great having clear roadmap that is implemented in time. Of course as everything in crypto space, there are no 100% assurances. MCT+ listing on CMC is delayed (probably because of duplicate symbol usage) but in progress, that's not an issue.

I absolutely agree with your points about exposure, volume and PR. I haven't researched MCT+ yet. I will when I find the time.

I think it's interesting what you say about a trading bot. Having volume is important to get noticed on our existing exchanges more. Do you have any experience with bots?


  • 616westwarmoth
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #7 on: August 26, 2018, 09:23:28 am »
A trading bot in my opinion would only fake volume.  And if it were exposed it would be a 180 turn from the Christian values the coin strives for.

While I'm sure there are bots out there that are faking volume for other coins, this is not the correct path for Biblepay.

The issue with volume and price are

1)overall market is down
2) uncertainty about our legitimacy (quite frankly even if the BCT Mods are biased against religion, if we cannot on some level convince them, we're going to be hard pressed to convince the average users)
3) PoDC and Sanctuaries lock a huge portion of the coins up, with the down turn in price there's not much (if any) profit in PoDC so there is not much demand from new miners.  If the recent airdrop can convert more than 1% of the new users then we should see this stabilize or turn around, otherwise the markets are likely to be peppered with more 2900 BBP sell orders.



  • jmmc
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #8 on: August 26, 2018, 02:44:02 pm »
A trading bot does only what it is programmed to do. They can add some volume and "life" into market and that's one thing that is currently missing on BBP market. It can also lower volatility a bit. Both would help BBP and I believe it would be good for BBP to have some small bot with some small monthly budget for this purpose.  It's not fake volume because bot must pay trading fees as well. Fake volume it is only when exchange fees are zero or if bot belongs to the exchange owner.  You are right that many people blame bots for manipulating markets but it is a little bit artificial blame. Of course people create bots to perform more efficient trading strategies and so yeah, bots might be even pretty aggressive traders.

Market is down, correct. But why?
1) Downtrend phase - only temporary
2) No demand - main problem, no real crypto use case that would bring more demand. BBP has use case, but direction is only outflow : BBP are sold for fiat -> stable decrease in price. That's major problem here. Together with quite huge new coin emission it's difficult to keep the price without some stronger investor who will hold it or without significantly growing user base.
3) People are still mostly fiat oriented - that means they are still using crypto mainly for fast speculations (P&D) and storing wealth in fiat (or fiat-related products). BBP is not influenced by this that much so far.

Best thing would be to form some partnership between sponsored organizations and suppliers who would start accept BBP for gods without exchanging it to fiat. Once this network is formed it can grow and soon people might not be willing to go back to fiat. But it's very difficult to find several brave organizations that would form such a network and taking the initial risk. Even the biggest crypto projects were not able to accomplish this yet.


  • jmmc
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #9 on: August 26, 2018, 02:45:21 pm »
Thanks to Rob, I was able to create the proposal again, successfully this time. All sanctuary owners are free to vote.


  • jaapgvk
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Re: Proposal - listing BBP on MCT+ p2p trading platform
« Reply #10 on: September 08, 2018, 02:45:55 pm »
A trading bot does only what it is programmed to do. They can add some volume and "life" into market and that's one thing that is currently missing on BBP market. It can also lower volatility a bit. Both would help BBP and I believe it would be good for BBP to have some small bot with some small monthly budget for this purpose.  It's not fake volume because bot must pay trading fees as well. Fake volume it is only when exchange fees are zero or if bot belongs to the exchange owner.  You are right that many people blame bots for manipulating markets but it is a little bit artificial blame. Of course people create bots to perform more efficient trading strategies and so yeah, bots might be even pretty aggressive traders.

Market is down, correct. But why?
1) Downtrend phase - only temporary
2) No demand - main problem, no real crypto use case that would bring more demand. BBP has use case, but direction is only outflow : BBP are sold for fiat -> stable decrease in price. That's major problem here. Together with quite huge new coin emission it's difficult to keep the price without some stronger investor who will hold it or without significantly growing user base.
3) People are still mostly fiat oriented - that means they are still using crypto mainly for fast speculations (P&D) and storing wealth in fiat (or fiat-related products). BBP is not influenced by this that much so far.

Best thing would be to form some partnership between sponsored organizations and suppliers who would start accept BBP for gods without exchanging it to fiat. Once this network is formed it can grow and soon people might not be willing to go back to fiat. But it's very difficult to find several brave organizations that would form such a network and taking the initial risk. Even the biggest crypto projects were not able to accomplish this yet.

Interesting post.

I myself don't see the ethical wrongness in using a bot to bring volume and perhaps lower volatility. It's just automated trading and you pay the fees. But I am open to any other perspectives on this. Of course, using a bot in the current bid/ask market would probably not be beneficial since the volume is probably too low to be able to efficiently use it. For me, it's about getting noticed more. It's a form of PR.

I also agree with your market-analysis jmmc. But I don't really have input on that at this time.