The new exchange in Australia and the elephant in the room

General Discussion
#1

Hi
Just wondering what this new exchange (the one with Block chain global), will be doing to address the current situation with exchanges in general and some that are in Australia.
That being,
1.) poor support or indeed fake support, (yes support is poor on many exchanges and I myself have been in emails with support of a certain exchanges only to come to the realisation that I am being screwed).
2.) Price gouging, yes it is common and personally in some exchanges it borders on the trustworthiness of a “hock shop”.
3.) Profiteering, well we all know the bank always win, the guy who runs a casino sells to the players, the players take a risk, but either way the casino comes out on top, and I am not a trader and have lost out over simple transactions.
4.) Community, well is there one in Australia?
5.) Safety, at present all exchanges offer little protection from mistakes, so how can you expect someone to use the facility with the “use at own risk policy”?

These are just a few off the top of my head, yet they really need to be addressed.

Cheers

#2

It’s still a very young industry. So lots of terrible things do happen to people with exchanges. But there are many good ones around.

1 Like
#3

Another question is, once built who will be maintaining/running it?

I’m assuming the NEM foundation will need to hire support staff?

#4

Thank you for the replies

I have actually discovered that the new exchange will not be based in Australia but in Kuala Lumpa.
I had received mistaken information.
I recently watched a video of Lon Wong (The president of the NEM foundation), and found it quite informative.
The link is here: https://youtu.be/mLcfgU3HEcE

Cheers :slight_smile:

#5

Yes, everything is being developed as we speak. We can see how the exchange works when it goes live. The main operator comes via the white-label solution globalbtc.com