No. That event was nothing as spectacular as it would seem.
As mentioned before, VegasCoin.Vegas is for sale. It can be purchased with a cash offer for the domain plus 10,000,000 VGC. So the new owner would be guaranteed no less than 10% control of the crypto. And if the block explorer was working, then anybody could have seen the wallet was 700,000 shy of the promised 10,000,000 VGC.
Selling for 2 or 3 satoshi trades pretty much signifies the bottom price. If BTC surged, then VGC cannot be traded any lower. If BTC crashes, then interested parties may step in and clean up what what they can catch is still available by sellers who neglect to manage their order prices. At this time, VGC can be almost viewed to be functioning as an options instrument for movements in the price of BTC.
It was very cheap to cover the VGC shortfall at rock bottom prices. Unexpectedly, a small rush of somebody dumping VGC resulted in buying more than what was calculated beforehand. Too much BTC was purchased to finance the VGC purchased and approximately $50 USD or less was left over after the 10,000,000 goal was reached.
The price ran up to 0.00001000 because spending $50 USD was all it took to reach that price. What is the benefit for holding any crashing BTC in an altcoin exchange? There were large gaps in price between very small and very few sell orders. Never was there 4+ BTC of volume. The stuff you people read and believe is mostly illusion and bad information.
VegasCoin.Vegas has no serious plans for the domain or plans for the coin until after BTC crashes to be less than $50 USD. It is just a hobby business until then. Nobody is scooping up as much as they can. There is no cat in any bag. The business is aware what the price needs to be to "break even." So, there may be more small and affordable purchases if only to make it appear breaking even because that is an easy and simple thing to do. This is not a hostile takeover, but it is not impossible to happen. When (or if) Cryptopia would be abandoned and be no more, then VegasCoin.Vegas would be the last VGC exchange to exist and this would be a takeover by forfeit.
The rare silver coins for sale at VegasCoin.Vegas are a steal at current prices. There is a reason why dimes and nickles are not listed at this time. It would be cheaper to put ten or twenty dollars in a BTC ATM and restore the price than it would cost to give a customer free shipping.
VegasCoin.Vegas is opposed to the way Cryptopia and all other altcoin exchanges have built their markets. Any future plans would involve placing orders in USD prices and not BTC prices.
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