Is The Utility of NCL Still To Be Used With The Bot?

Q. Are we trying to get away from NCL being a utility token and having volume to be used with the bot?

A. Nope, not at all. It is simply not possible to send fund to the bot with NCL right now.

We were holding off entirely on promoting the new algo as per the roadmap until  current bot investors mentioned that would like to be able to invest in the new algo now. So BGB made that happen but this is not announced as an opportunity to outsiders and will not be until there is sufficient history as planned.

If we started sending NCL to the bot right now, and the minimum in NCL is 1 BTC, the NCL market would be crashed instantly. It is just not possible right now. There is not even 1 BTC in open orders.

Do I think it is going to take BGB creating that liquidity itself? Yes, I do. Which means there has to be be sufficient income generated to provide that demand.

Q. So the obstacle right now for sending NCL is that there is not enough market for BGB to sell into to cover the BTC conversion?

A. That is the greatest obstacle. There is also the additional issue highlighted in the image above.

Q. So the new algo wouldn’t have it’s own account for new deposits to not effect current investors. Which is why the Managed rout is the only choice right now?

A. The current bot investors use an account that is a sub account of the algo. Anybody investing into the algo will have their own sub account they create with FX Choice that is connected to the algo.

But if BGB makes additional deposits into our sub account connected to the algo it will drastically altar the Profit and Loss of all current investors.Again, that is the secondary issue. The primary is the NCL market cannot handle it right now.

When the bot could be reopened from within the backend of BGB, it will be.

It is going to take some serious time. And by that time it will be irrelevant anyway – nevertheless we will do it.

Get Caught Up

By |2018-11-08T16:50:33+00:00November 8th, 2018|Crypto News|0 Comments