To recap so far:
- Angry customers start digging for links between ECA and CoinsMarkets
- ECA developers came really close to having personal identities exposed
- ECA suddenly threatens CoinsMarkets with legal action, despite doing nothing for 2 months
- Suddenly CoinsMarkets does not have any website or database issues anymore
- Withdrawals are suddenly enabled for ECA
This is way too coincidental for its own good.
So much so that the people behind CoinsMarkets and ECA are definitely very closely related, or are the same bunch f**ktards running this scam.
And for those who think that CoinsMarkets are really working to fix whatever "issues" they have, read the above list again and digest it.
Ah another conspiracy theorist.
Financially, does it make sense?
The coin dropped from 48 sats to 6 sats to 12-14 sats. The Coinmarket fiasco dropped their value almost 75%. Coinsmarket held maybe what 800 million ECA? If the Dev's collectively hold 1 billion hypothetically, it would not make sense.
1 billion x 48 sats = 48 billion sats vs. 2 (let's say 1 billion of it was stolen) billion x 10 sats = 20 billion sats.
How does it make sense to scam their customers?
Hint: it doesn't. They would've made more money letting Coinsmarket operate. Guess what, they prob have even more than 1 billion ECAs collective.
What if they had 5 billion ECA?
Math works like this: 5 billion x 48 sats = 240 billion sats.
Dev stash if 1 billion ECA tokens were actually stolen: 6 billion x 10 sats = 60 billion.
So a difference of 180 billion sats from Coinsmarket was lost.
Can anyone be this stupid to think ECA Devs is Coinsmarkets and vice versa?
Actually it does make sense. First off I watched the trading orders all the way up until the site went down so I saw the BTC dumps coming in for ECA. There were several infact. One of which crashed the price to 24 sat and then it started building up again.
The site went offline right in mid ECA dump.
Keep in mind ECA found 4 other exchanges to place their coin within weeks and even starting it off at a higher price. This was smart since other coins were locked away they could promote HARD for people to buy the coin on other exchanges yet not actually sell the coin because of course people had no access to their own coins.
Here look at how Yobit was going to get in on the action for a moment and didn't quite finish the listing.
https://yobit.net/en/trade/ECA/BTCStill on Jan 5th and 6th. CM enabled NOT WITHDRAWALS but what? TRADING.
I took snapshots of the trades on ECA and there were several that were several btc worth.
So the price of the coin stayed around 44-to over 55 sat for several weeks ( the other exchanges didn't have the API feature so coinmarketcap wasn't able to detect the trading information but I went to the other exchanges ( a few only) to look at trades) .
The price started ticking down along with the price of BTC. When BTC hit around $6,700 CM posts "TRADING WILL BE OPEN IN A FEW HOURS" because at this point everyone is really freaking out thinking "OMG I BOUGHT COINS WHEN BTC WAS AT $17,000! AND NOW BTC IS DOWN TO $6K?!!WTF??!!
The threats started really coming into that trollbox hard because it went from people being annoyed to sheer violent rage. Am I surprised? Nope.
So a few hours, turns into 24 hrs, turns into 48 hours then 72 hours then it's another few weeks and still nothing. So they open up what? ECA for withdrawals because ooh wait they threatened legal action? Umm Yeah OHH KAY. I'm not buying that.
Still looks shady as hell as it's usually BTC first, LTC second typically. ---Strangely these two coins are the ones with the DB issues but it appears these issues happened when people did a trade for another coin TO BTC OR LTC. Those funds didn't quite make it to their wallets or if they did the balances are all off. Hmmm.
You also seem to forget that CM went down at the highest price of BTC for 2018 between $16,700 to $18,000 per every 1 BTC. So nope still shady as hell.
If you want to believe otherwise knock yourself out. Keep in mind they're still holding onto the most valuable coins in crypto right now.
