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RE: Some Analysis on CryptoBridge BRIDGE.BCO

in #cryptobridge5 years ago

I don't have the time or emotional energy to write a beautifully crafted press release that explains why CryptoBridge is closing. It was a huge part of BitShares ecosystem. It is closing. The number one reason business close is that they don't make enough money. Money can typically solve any problem or allow you to hire someone to solve any problem. So low crypto volumes across the board, bad internal politics in BitShares the Bad cn-vote and actions of underwater debt holders who have ruined the credability of BitShares Stable assets. The long term effects of KYC laws, long term effects of global settlement, the lack of working together in the BitShares community. There is a lot of factors in CryptoBridges closing. But almost all things can be overcome with money and they they -as shown above- get most revenue from new coin offering fees. And they are not getting enough trading volume. From an honesty and transparency standpoint I do not like exchanges suddenly closing in two weeks. But both Cryptobridge and Open Ledger have significant issues. And are closing or suspending activity at the moment. This is not good for BitSahres and may infact be the death blow of BitShares. Time will tell. There is a dedicated group of people how have been working hard to address and keep the BitShares project alive. This has not worked as well as thought. It is hard to include all reasons on a random blog post. But to me a disclosure somewhere is needed.

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