Thread by @woolsim

Is long holding exchange token good idea? $BNB $KCS $BIX $OKB $HT $BTMX
Imo, no. Here's why I think so:
- Coin exchanging business has got commoditized. Everyone and their dog is launching an exchange and there is no real edge one may have over the other, other than liquidity

- Coins such as $BTMX with only 5% of total in circulation are valued at $60 million for just the circulating supply. Are you really ready to value an exchange's token at $1.2billion and long hold it with confidence?
- A lot of exchanges run on same whitelabel software.

- These whitelabel exchange software providers have made it commoditized
- The exchanging market itself is ripe for disruption. You can trade on wallets such as Abra itself
- New atomic-swap led exchanges are going to disrupt the market further. Things will be entirely diff in 1y

- One significant fact to never ignore is that a lot of these exchanges are going great because they have no significant compliance costs - no kyc/aml trouble they get from the governments *yet*. When that changes, they'll be in deep shit

A lot of exchanges are launching their own chains, margin trading & ico platforms lately. It's probably a new feature set offered by a whitelabel exchange software provider. Be careful not to overvalue this. Their "own" blockchains could be 8 nodes costing 500/month in hosting

I'm not saying you shouldn't spray and pray exchange coins. Just try and be in the know. Im just sharing my thoughts here cos bored. You can go ahead and refute it. Wot say you, why or why not buy exchange tokens, for what timeframe and how to plan an exit