On June 23rd of this year we asked the community to provide questions they had or have in regards to BitStash. Over the last few days we have received more questions than expected. With that said we are truly excited to be apart of something that is so early to adoption, but already showing signs of consistent growth. If you are someone that owns a business and want to learn more about how you can start accepting STASH please visit https://payments.bitstash.co/
BitStash Q&A / AMA
Q: When will the top exchanges come? – Is the team satisfied with how the project is currently progressing?
A: We are very satisfied with the current progress of the project although there is always room for improvement. Solutions are coming out sooner than expected and more features are being tested and integrated regularly. All of our growth has been 100% organically driven and is growing daily, as we continue to progress, funding will be available for reaching larger audiences and listing on various top exchanges.
Q: Could you share anything from your professional background and what has led you to creating Bitstash marketplace?
A: Being a young entrepreneur, I have been blessed with the opportunity to be able to try out or start various businesses in different industries to discover what I am truly passionate about. I am a self taught developer with over 8 years of hands on developing experience. I am by no means the best but learning more and more everyday and committed to what I love doing on a daily basis. Prior to creating the various solutions to BitStash, I have created other marketplaces and platforms where buyers and sellers could come and conduct transactions using Paypal, Visa, and other means of payment. I was introduced to Bitcoin and its use case when silk road was just getting started. Unfortunately, I was disappointed that such a great innovation for fintech was being used for illegal activity. At this time I started to learn everything I could about how blockchain and cryptocurrency really worked. My background developer skills at this time was for websites and mobile apps. Being self taught I knew that I could learn the basics and figure the rest out along the way. Solidity being the primary coding language for Ethereum is similar in nature to a few other coding languages I already knew. For two years I was testing smart contracts and learning the basics of how ETH worked, this was when Ethereum was only $14. Since then, the idea of having a cryptocurrency marketplace was always something I knew the crypto community as a whole was lacking. This essentially led me to create the solutions that are being offered today.
Q: Are you currently in touch with other project discussing potential partnerships? If yes, what benefits would such partnerships bring to BitStash project?
A: Yes, BitStash is actively talking with various projects and companies in the space for potential partner integrations. By having various partner integrations, we are able to grow faster and release additional solutions in a timely manner. These partner integrations can be for example the following: Payment solution providers, exchanges, etc.
Q: Why is the STASH token price so under valued? Less than a few Gwei, is the project dead? Why has BitStash not listed on a Centralized Exchange? I would suggest the Binance Dex for a bright future or other major exchanges.
A: We believe that the price of STASH is being held down and is extremely undervalued, however this is not directly in our control. Our goal is to continue creating solutions for others to be able to use and benefit from while using cryptocurrency as a form of payment. As more begin to use STASH to pay for goods and services others will be influenced to do the same. BitStash was approached by the Binance DEX team for listing, all the preliminary checks were a go and we considered it for some time. However after a lot of thought we have decided against migrating to the Binance Chain and perusing the listing on their DEX. There were many reasons we decided to remain on the Ethereum Network, one of the most important is how widely used the Ethereum Network is. If things change in the future we may consider it, but at this time we will remain an ERC-20 token.
Q: Anywhere the Buy and Sell market for coin outlets will be in our country Indonesia?
A: At this time the best exchanges to buy or sell STASH tokens for other cryptocurrenices is IDEX or EtherFlyer. There are no country restrictions on these exchanges, anyone worldwide can place a order to buy or sell STASH. In regards to our solutions being opened up to Indonesia, at the time of writing this those residing in Indonesia can now buy or sell items with STASH on the BitStash Marketplace. Previously we did not allow people within Indonesia the ability to buy or sell products, this restriction has now been removed. Vendors can easily set their shipment rates to the various countries they wish to ship to within in the vendor dashboard.
Q: When will begin distribution of airdrop token?
A: We understand that more than a month has already passed and the participants of the last airdrop have not been sent STASH. At this time we are still awaiting the results list from Refereum. There could be various reasons why this information has not been relayed to us. Hopefully it is sent soon so all of those that participated can be sent the appropriate rewards.
Q: What is the expected maximum price for a token?
A: There are many variables that come in to play when trying to determine the max price of any coin or token. There is no correct answer and there is no cap for how high or low STASH can go. As progress is made and when there is a larger demand for utilizing STASH or any other token, what naturally happens is an increase in price.
Q: In the future, can you provide detailed information about the team to make the project more transparent. Will STASH be listed on other exchanges soon?
A: Yes, we plan on giving our community complete details in regards to the team members when it is appropriate and all legal aspects are taken care of. At this time, there is no set date for new exchange listings. Although we have been approved to list STASH on a handful of major exchanges, we have made the decision to hold off. Majority of our funds have been allocated to the development of our solutions. The projects that will last in the cryptocurrency market are those with an actual use case. This is why we believe it is important to have a strong foundation before going full blast with exchange listings and marketing efforts. It is not an effective business strategy to hope for an increase in demand when a token is listed on a new exchange. The real value is in what BitStash has to offer and the value will reflect appropriately as time goes on and the awareness grows.