Circcash does not need to be put on multiple exchanges yet.

This post was written on 1/31/2021. The status of Circcash can change quickly due to many reasons, and the points in this post may or may not apply to future dates.

Right now, Circcash is listed on the Bitsails cryptocurrency exchange. Circcash is not listed on any other exchange, and Circcash can only be traded for Bitcoin right now. This is a good thing.

Since cryptocurrency exchanges can be hacked, Circcash will not officially endorse any cryptocurrency exchange. Furthermore, Circcash core development will not make any effort to be tradable on more than one cryptocurrency exchange. Circcash core development will certainly not pay anyone any money simply to be listed on an exchange. With that being said, since Circcash needs to be decentralized, Circcash core development will also not make any effort to discourage or prevent any cryptocurrency exchange from listing Circcash.

If Circcash core development makes an effort to endorse a cryptocurrency exchange or to be put on an exchange that is later hacked, unjustly censors people, or behaves nefariously, then Circcash’s reputation will be tarnished. Circcash core development does not have the resources, time, ability or patience to thoroughly research cryptocurrency exchanges to make sure that they follow stringent security protocol and are unlikely to be hacked.

As long as the exchange has not been hacked, we can all agree it is good for Circcash to be listed on a cryptocurrency exchange so that others can trade Bitcoin for Circcash. However, at this point in time, we do not need for Circcash to be listed on multiple exchanges.

Right now, only a few people are trading Circcash on Bitsails.com. If Circcash were to be listed on multiple exchanges or if people were able to trade Circcash with multiple cryptocurrencies right now, then it would be more difficult for Circcash users to find someone to trade with (it is hard enough finding people to trade with on Bitsails.com). We want to make trading Circcash as easy as possible, and to do this, it is best for everyone to only trade Circcash with Bitcoin on one exchange. This way, buyers will have an easier time finding someone to buy from and sellers will also find an easier time finding someone to sell to. Furthermore, contemplators who are researching Circcash in order to make a decision whether to invest in Circcash or not will get much more clear information about the value of Circcash throughout history if Circcash is only listed on one exchange right now and is only tradable with one other currency.

Circcash core development would want Circcash to be traded on several exchanges in the future, but before this happens, Circcash needs to become more popular so that it is no longer difficult for people to find others to trade Circcash with. When this happens, the trouble that people have to go through in setting up an account on an unfamiliar exchange will exceed the trouble of people not having anyone to trade with.

If you are using a cryptocurrency exchange to trade Circcash, please only keep as much currency on the exchange as you are willing to bid, ask, or trade. If you want to use Circcash, then please keep your CIRCs that you are not trading on a wallet that you personally own instead of on an exchange. Remember that the purpose of an exchange is not to hold your cryptocurrency but to exchange your cryptocurrency for other currencies.

Added 3/9/2021: Right now an ideal situation would be for Circcash to be listed on at least 2 exchanges but where nearly all the Circcash were traded only with Bitcoin on only one exchange. In this scenario, one would have the benefit of having a stable price from being traded with only Bitcoin on only one exchange, but Circcash would also benefit from the security of being on multiple exchanges.

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