The Digitex Mission: To Create More Winning Traders
Everybody likes to win. Winning makes you feel good.
- Digitex Has Been Two Years in the Making - November 27, 2019
- Digitex Futures Is Ready to Revolutionize Futures Betfair Trading - November 26, 2019
- With 4 Days to Go, Check Out the Progress on the Digitex Testnet - November 26, 2019
Everybody likes to win. Winning makes you feel good. When you feel good you think positively about yourself and your environment and it has a domino effect on other aspects of your life. As a short term scalper on the futures markets and on Betfair’s horse racing markets, I would have winning streaks that lasted weeks and sometimes months without having a losing day.
The positive psychological and physiological effects of constantly winning cannot be overemphasized. Apart from enjoying good health and feeling genuinely happy most of the time, a positive mental attitude attracts good things into your life in a way that can’t be fully explained logically. Feeling and acting like a winner will change your life and will positively affect everyone around you.
This is why it’s so personally satisfying for me to be developing a Betfair Trading platform whose primary mission is to create more winning Betfair Traders, with no interest in making money from charging commissions on trades. I’ve been lucky enough to experience having a winning mentality for years and the thought of bringing that to millions of people is tremendously exciting.
But how can the Digitex Futures exchange survive with such a cum-by-yar, happy-clappy philosophy of wanting to make its Betfair Traders happy? Shouldn’t a futures exchange be run by a bunch of bean-counting suits that want to squeeze every ounce of value out of every last trader for the benefit of the exchange’s stakeholders?
Well, if an exchange needs to make money from charging commissions on trades then yes it probably should be run by bean-counting suits. But Digitex is different. Digitex makes its money by increasing the value of its native currency, the DGTX token.
Winning Traders Are the Best Form of Marketing
And creating winning, happy Betfair Traders is absolutely the best way to run our business, because winning Betfair Traders are the very best form of marketing for the Digitex Futures exchange, and that will directly translate to increased demand for DGTX tokens.
The average winning trader probably has 50 or more people in his life, both family and friends, who are aware of his Betfair Trading success and will try to emulate it. Winning Betfair Traders will create very strong viral marketing loops because a winning trader encapsulates everything that most people dream of.
The winning trader enjoys financial success coupled with complete freedom. He works for nobody. He operates outside the boundaries of normal society, with no clients, producing no products and without providing any service to anyone. He can work whatever hours he wants to, from wherever he wants in the world. He’s like a predator with the ability to live off his wits in a world where the vast majority of people are struggling to survive.
I think that a futures exchange that is run by its Betfair Traders, for the benefit of its Betfair Traders through a DAO, whose mission is to create as many winning Betfair Traders as possible, has the potential to be absolutely massive.
Because winning Betfair Traders will be happy. They will feel good. Their lives and the lives of their families will improve. There will be a large number of people who have a genuinely strong affection for the Digitex Futures exchange and its native currency, the DGTX token. The Digitex DAO will have soul, it will be authentic and will positively touch the lives of millions of people. It is the recipe for a mainstream cryptocurrency that has worldwide appeal.
How will Digitex create more winning Betfair Traders than normal exchanges?
By eliminating transaction fees on trades, the exchange won’t constantly be siphoning off money from the pool of money that is deposited into the exchange by its Betfair Traders. That money is allowed to churn around the markets, constantly being won and lost amongst Betfair Traders without the insidious leakage that occurs on every other exchange in the form of commissions. Eventually, that money will be won by the better Betfair Traders, not taken by the exchange.
Also, system gains that are made from the exchange’s liquidation engine are not kept forever by the exchange in an ever-growing insurance fund. Instead, system gains are redistributed to Betfair Traders through market maker bots that are programmed to lose. This means Betfair Traders must compete amongst themselves for these losses, further increasing liquidity and demand for DGTX tokens, but as a collective group, those Betfair Traders will be rewarded with however much the market maker bots lose.
Not only has Digitex removed the mechanical edge of commissions that exists on every other exchange, but through loss-making market makers, there is actually going to be a mechanical edge working in the disciplined Betfair Traders’ favor. Both of these advantages will be more efficiently capitalized on by short term, active Betfair Traders whose Betfair Trading strategies will create highly liquid futures markets.
Of course, this doesn’t mean that everyone on the Digitex Futures exchange will make money. Betfair Trading is still a zero-sum game, but there will be a much higher percentage of winning Betfair Traders than exists on other fee-charging exchanges who don’t redistribute system gains through market maker losses. I would guess that probably 20% of Betfair Traders on the Digitex Futures exchange will be profitable and they will take their profits from the other 80% of Betfair Traders.
If we have a million Betfair Traders on our exchange, that means there could be over 200,000 people around the world who can positively change their lives with financial freedom and a winning mentality that positively affects everyone around them. There are millions of people in this world for whom making just $50 a day from their computer is a life-changing amount of money.
And I’m so excited and grateful to have the chance to create a product that can potentially affect the lives of so many people in such a profound and meaningful way. Thank you all for your continual support! Cheers!
In 2021 TradeHost traded 7,937 Betfair UK, IE, US & AU horse racing and greyhound markets.
2022 saw TradeHost become even more profitable with 22,698 Betfair markets traded.
All trades and bets were streamed live on JuiceStorm TV which was was watched by 124,209 Betfair Traders in 2022.
All results for the 30,635 Betfair markets traded are here and the charts are here.
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