Yes I do I want to know this ,
If pac team knew cryptopia was in fact committing
Fraud by selling the same coin at two different prices why didn’t they
Demand cryptopia to stop ?
Why did they allow this to go on ?
Who started the btc/pac trade on cryptopia ?
Why didn’t the team at least try to force cryptopia to announce
Pac was selling for a much higher price using btc ??
Something just smells fishy I just can’t believe a responsible
Business team would allow their own investors to get
Screwed like this !!!!
You can't be serious? What country are you from? In the U.S some stores may sell some Jordans for 300.00 dollars, while other stores may sell the same pair for 150.00. You know what smart shoppers do? They look around, and they go and buy from the cheapest seller on the market.
This is the most stupid thing ever .
I can’t believe you compare shopping for clothes to
Trading in exchanges .
Selling the same coin for two different prices in the same
Exchange is fraudulent .
The only time it’s ok If the price difference is insignificant
But in the case of pac the price in btc was at least
10x higher .
So don’t be stupid this is definitely a case of fraud
I've seen your posts and I've tried to avoid responding but now you're calling people stupid who are trying to reason with you. If you'd like to have a discussion, fine, but if you're just here to engage in name calling and attempting to validate your own twisted opinion of things, then I feel I need to respond. As always, let me be clear: I wasn't on the $PAC team when all this happened but the market dynamics are universal.
There's no offense intended. but your statements of fraud are 100% inaccurate and only lead me to believe you aren't well versed in financial markets. Financial markets are often out of sync, even on the same exchanges. There's an entire industry called arbitrage (
https://www.investopedia.com/terms/a/arbitrage.asp ) and beyond that high-frequency trading (
https://www.investopedia.com/ask/answers/09/high-frequency-trading.asp ) that attempts to make gains by balancing those differences between exchanges. This is common on all markets and is part of how they actually work, the exchanges don't balance things, the market does.
I saw the spike in PAC and watched the market that day, I saw plenty of exchanges on other markets being moved over to Cryptopia for exactly that reason. People were arbitraging the exchanges. That's how efficient markets (
https://www.investopedia.com/ask/answers/032615/what-are-differences-between-weak-strong-and-semistrong-versions-efficient-market-hypothesis.asp ) work: when there's a price gap market makers move in and balance.
In regards to PAC, as plenty of people have stated, but for some reason plenty of people can't grasp: Cryptopia closed all of their LTC and DOGE pairs due to technical reasons. They didn't close just PAC, they closed all of them. This resulted in the lowest price for purchase on Cryptopia being 1 sat. The reason it was 1 sat is because Bitcoin only supports 8 points of precision (
https://bitcoin.stackexchange.com/questions/31933/why-is-bitcoin-defined-as-having-8-decimal-places ). You can't break a bitcoin down into a unit smaller than a single satoshi; instead, you have to use a coin of lower value and break that into smaller amounts.
Due to the markets closing, people made inefficient trades on Crytpoia (see above). They were perfectly valid trades, they were simply inefficient. I wasn't involved in $PAC at all at the time but it was easy enough to identify what the issue was. Coinmarketcap clearly showed that exchanges out of sync and Cryptopia was transparent about their closing of the LTC and DOGE pairs.
To sum up: markets are inefficient by nature. Two exchanges are inefficient, pairs between exchanges are inefficient. For example, right now there are price differences (on the same exchanges!) between trading pairs even for $PAC. That's true for BTC, LTC, ETH, etc. Pick any market that's traded in more than one place and there's a price difference. Differences in prices are not fraud, they're simply fact.
So, please read what is above, educate yourself further on markets, and then if you feel the need to comment, please do and if I can provide further information I'll do my best to do so -- as I always have. But simply claiming things are fraud and scams is a waste of everyone's time. Especially when the fraud you're alleging is a universal feature of all markets that anyone with a cursory understanding of market dynamics comprehends.
best,
break.
