Topic: [ANN] WAVES : Ultimate crypto-tokens blockchain platform. - page 27. (Read 49090 times)

BTC is rising again.  Don't be surprised if the price starts falling again.

A 3-line explanation for a transferring of $3 million worth of funds out of public view was given 9 days after the transfer took place, and that was only after people were screaming about it and panic-dumping.

I'm being serious, but this coinbiz guy is clearly bullshitting.  You can obviously see the other 12,5k BTC which has been withdrawn still sitting on the blockchain in a 10k chunk and a 2,5k chunk.

It's only 5k BTC which was moved out of public view.  So it was sold for fiat on exchanges, and now it's being held as fiat balances on exchanges?  Or has it been transferred out of exchanges to a bank account?


What other explanation is there for Waves trading at 30% lower than the net asset value of the 30k BTC which Waves holds?  Confidence factor is the only explanation I see.  Which is a good thing, because I think confidence can be built with positive actions + good investment of funds, and the market will eventually forget about the rough start on bittrex.

Twiggy i know you are only the messenger but..as i said yesterday announcement before action is taken is what's needed  

dont post after the fact ..it only looks made up

Oh. Of course, full report will be provided about how the funds were spent.

Yes exactly.  Here is the ICO address:
https://blockexplorer.com/address/3DWBSSAue32YS8PcW2gLs6m52BCCv3UgDA

Of the 29,634 BTC raised, Waves has withdrawn/spent 18,271 BTC already!

18,271 BTC spent already, read that until it sinks in.  That's roughly $11 mil USD, even if you calculate BTC at $600/ea.

It's shocking to see the nodes having issues and any downtime with that spending.  Where was this money spent?  $11 mil USD??  I mean come on, that's enormous money, more than several alt ICO fundings combined.  Entire companies make that much in a year, and it's gone from the Waves ICO account in less than a few weeks... and during that time, almost zero marketing, zero development updates (not considering changing a background image on the wallet or changing some text / version numbers).  

I'm in Silicon Valley.  You can hire the best developers on earth for less than $11 million USD.  The top developers at Google, Facebook, Apple, Tesla, etc. are not making that kind of money, and the Waves team burns through that without finding a lead dev and doing no marketing?

And after all that, the nodes blacklist each other?  Again, $11 million USD is not a small number.  You should have ZERO downtime and ZERO maintenance with that number.  And again where the fuck is the marketing??  A superbowl advertisement broadcast to 50 million viewers cost $2-$3 million USD.  Imagine what you could seriously do with $11 million USD.  I should be seeing Waves plastered over the Internet.  Lisk did 100x more advertising with a fraction of the money.  

I call this a scam or complete idiocy.[/size]

https://blockchain.info/address/3DWBSSAue32YS8PcW2gLs6m52BCCv3UgDA
Disappearing of roughly 6k BTC out of escrow on 16-06 and 18-06 (before withdrawals were finished or waves had even started trading on exchange), I think is what really sent investors into panic-dumping mode.
There was no explanation or re-assurance about such a large transfer of funds out of public view at the time, so the market panicked.

According to escrow agreement the funds have to be transferred from the escrow address.
https://blockchain.info/address/35fe2CM2zbMeSfhRjpjW8ikTJcZj8NooFD official Waves cold wallet
5 k is withdrawn for current and upcoming development and marketing costs, good moment to sell BTC. 1 k out of it is spent on WAVES buy-back.

I think buy walls is actually part of the reason the price has dumped so much.
It does not inspire confidence to see one of dev's first moves (before waves withdrawals have even finished) was to transfer 6k BTC to exchanges, where it is out of view of public, and 1k BTC gets burnt on buy walls.
There was no communication about what this 5k BTC was getting used for except for a very vague, "we're using it for development"
What does that mean?  Are you hiring people with this $3 million which disappeared to exchanges?  Who are you hiring?  What are these funds getting used for?  Where are they going?  To a bank account?  Held in BTC balances on exchanges?  Held as fiat balances on exchanges?  Transferred into devs pocket?
No one knows because there was very vague communication about this, and only after the transfers took place.  That's the main reason people lost confidence and started dumping below ico.

I think buy walls is actually part of the reason the price has dumped so much.

It does not inspire confidence to see one of dev's first moves (before waves withdrawals have even finished) was to transfer 6k BTC to exchanges, where it is out of view of public, and 1k BTC gets burnt on buy walls.

There was no communication about what this 5k BTC was getting used for except for a very vague, "we're using it for development"

What does that mean?  Are you hiring people with this $3 million which disappeared to exchanges?  Who are you hiring?  What are these funds getting used for?  Where are they going?  To a bank account?  Held in BTC balances on exchanges?  Held as fiat balances on exchanges?  Transferred into devs pocket?

No one knows because there was very vague communication about this, and only after the transfers took place.  That's the main reason people lost confidence and started dumping below ico.

The dev team is currently engaged in the development and promotion of the project. Some time ago, the funds were used for this (was spent about 1K BTC and buy-back about 3M Waves). After that waves team stopped using this method. And now I do not think that that is the best solution to use the funds to maintain price. These funds can be used for more important tasks.

I am still debating whether I supported a scam here? There is hardly any volume and the price keeps crashing. If there were in fact any buy walls how could this be possible?

Have buy walls been used yet? Or is the dev team waiting to use them?

I am still debating whether I supported a scam here? There is hardly any volume and the price keeps crashing. If there were in fact any buy walls how could this be possible?

Have buy walls been used yet? Or is the dev team waiting to use them?