Dear Bitsdaq Community,
On September 25th, 2019, the English community had the opportunity to ask Ricky Ng, the CEO and co-founder of Bitsdaq, the pressing questions about BQQQ and the current development of the exchange. It was a great candid session with Ricky and our community members to address the community’s questions. We hope to have covered many of the questions from our supporters. Below is a short overview of the AMA session:
Question: When will BQQQ holders be able to participate in a Bitsdaq IEO?
Answer: We will launch this feature in our future IEO. As some of our users know, we have an upgrade being developed, and now we are ready to go for more IEOs using BQQQ.
Question: Does Bitsdaq have any development direction for BQQQ in the future?
Answer: We will be utilizing BQQQ when we launch more features which include the transaction fee deduction, IEO participation, VIP services, etc.
Question: When will Bitsdaq have a margin function?
Answer: Margin is in our plans, and besides margin, we will be launching a crypto lending feature also. This is because we see the demand for the crypto lending business and can work well with exchanges.
Question: What’s the next step for Bitsdaq?
Answer: We will be continuing our development on the tech and also launch more projects on the platform to attract more users.
Question: When will Bitsdaq complete the system upgrade?
Answer: It’s migrating now, and will be done in a short period. We will announce once it’s done. We prefer security as our 1st priority, so we need to do more testing on the new system.
Question: What strategies do you have to compete against other exchanges?
1. We have joined the Bittrex network, our partnership rollout will be faster and also create a rapid go-to-market plan.
2. We see huge opportunities in launching fiat and stable coin solutions in different regions and currencies. This will speed up the launch once our system ready.
3. IEO Projects aren't doing quite well in Q3, so the overall market has failed to deliver good results, but we think Q4 may come back since we found some very good projects that want to list on our exchange.
Question: Will Bitsdaq make a deal with governments to use Fiat money in the future?
Answer: Yes, we plan to launch fiat solutions in Q4, we will give a clear product roadmap afterward on fiat tradings.
Question: Why burning wasn't to Ethereum genesis address (0x000...)?
Answer: I need to check with our team, but the first token burnt campaign has been launched. We will buyback and burn more frequently.
Question: How often do you hold an AMA?
Answer: We will do it more frequently from now on, hopefully, we can do an AMA once per month, and I will communicate with my team.
Question: Why launch the PLANET event which affects BQQQ price in China?
Answer: We changed the mechanism for users to buy BQQQ for lockup instead now, the price stopped dropping and more users buying BQQQ now.
Question: What is your opinion regarding achievement so far?
Answer: A lot to improve, but we fixed many problems in Q3, will resume growth in Q4.
Question: Can you name some of the big names in Bitsdaq's group?
Answer: Our co-founder Adam is working as our head of partnership and Chief Strategy Officer, and Eric is our CTO and ex-Microsoft.
We would like to sincerely thank everyone who participated and for your continuous support towards Bitsdaq. If you have more questions about Bitsdaq, you can always message us on our Telegram channel or follow us on Twitter, and our team will be happy to assist you.
September 26, 2019