This is very odd, Jubi has a volume of $2,912,060 according to coinmarketcap.
3 million on a dead coin is just odd.
If you can't send or receive from the exchange then why would anyone trade on it? Or is this some pump and dump going on here?
It's all about trading; trying to leverage your position to gain more BTCs, other alts, or, even fiat for that matter. That simple.
And, a closed exchange keeps miners out from offloading their coins and preventing the price from tanking.
This is why I expressed my concern that YOBIT would tank the price (after I sold of course), because, miners can offload their coins on an open exchange and will, to sell at whatever price, to pay for the copper (electricity, equipment, location, GPUs, salary, etc...).
Investors, buy and sell, and NEED for the most part (unless they can short), the price to go up before they sell to get they profits. Traders put money in, miners take money out. Prevent the miners from offloading, prevent the natural balance of open market, add a closed system (China only), and, the price will be inflated.
Something JUBI was clearly demonstrating while many Maxcoin bag holders couldn't wait to sell their coins at JUBI's price on YOBIT (and tried), only to realise that the REAL market, didn't want to pay the price (let alone miners who would sell at whatever price, rather than hold).
Once YOBIT entered the arena, it proved right ... bag holders and miners offloaded their coins and tanked the price lower.
Personally, I thought JUBI's price was already at top of market, and was happy to sell at less than half that value on YOBIT.
So, I sold at 3500 sats, where, Maxcoin now sits at around 350. So, whoever bought my Maxes, just lost 90% of his or her investment.
Well, for the moment anyway, unless Maxcoin increase by another 10x, which, to be honest, without REAL developers who can deliver, who follow thru with their words, I really don't see that happening.
This crowd, is more about superficial nonsense, than core, and I mean, deep seeded core obsession with making this coin the best.
Other cryptos have demonstrated evolution, which, our developers just have not been able to deliver.
And this is why other cryptos have more value. GREAT developers can move the coin forward. Our developers can't even finish the dam web site.
I'd add to that by saying you can tell the sentiment of a coins community pretty easily.
Some will try to tell you what a "great package" you get when you purchase a RaspPi Maxcoin super-node bundle after jumping through hoops..
I didn't dig too far to be honest so let me know if this does actually turn out to be a good deal...... just smells bad as usual.
Others have a link to GitHub etc. where you can find some interesting software and info on setting up the couple of three you already have on your desk!
Because you are a generally interested tinkerer and like to support open projects regardless of perceived monetary gain. And guess what ... so are they.