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Although I expect the law of diminishing returns to kick in with regard to commissions eventually, I expect it to be made up in other ways. Its a whole second
by vmception 5y ago
Although I expect the law of diminishing returns to kick in with regard to commissions eventually, I expect it to be made up in other ways.
Its a whole second decade of crypto exchanges and traditional finance (tradfi) exchanges still dont have REST APIs or anything remotely close to free or accessible for programmatic trading, while crypto exchanges have always had that for free right out the gate.
Every day they have 3x as many trading sessions as tradfi exchanges.
And thats even before we start talking about selling the data, the international customer set, unilateral discretion in listing anything with a community of potential traders, using company treasury (or customer deposits) in DeFi products for passive yield, and more.
- kasey_junk 5y agoThe lack of free api’s for traditional exchanges is by design. It’s a risk mitigation technique that only members or sponsored traders can trade on those exchanges. This allows for there to be real ramifications if the sponsor doesn’t do due diligence and allows a counterparty into a trade that can’t settle. Perhaps this limitation is precisely what the trustless features of the coins gives us or perhaps the crypto exchanges just haven’t been bitten by a really bad counterparty risk incident yet. Time will tell.
- vmception 5y agoIts a poor implementation crafted by skittish legal doing cookie cutter things for decades, implemented by certificate chasing IT staff who couldnt launch a tool by a script kiddie if their life depended on it. And then there are also structural differences, such as in crypto the trade is the settlement. So other markets could have a different approach, and then have to deal with settlement.