Topic: Report of Waves token IOU market activity at yobit - page 2. (Read 1756 times)
Looks like i notice this 2 hours ago. also the announce of yobit i don't understand why they are doing it.. and maybe they are remove those waves in the wall..
Short answer: a bunch of "Day traders" hoping to make a quick buck. Selling something that hasn't been released. You can't deposit or withdraw so the risk is SUPER high. The price and the volume are heavily manipulated and people who do buy are "greater fools". On the other hand the market manipulation did wonders for the lisk launch, hopefully it does the same.
They did give people their lisk when it launched. I hope the same happens with Waves. 
Short answer: a bunch of "Day traders" hoping to make a quick buck. Selling something that hasn't been released. You can't deposit or withdraw so the risk is SUPER high. The price and the volume are heavily manipulated and people who do buy are "greater fools". On the other hand the market manipulation did wonders for the lisk launch, hopefully it does the same.
Hi everyone.
As you know, Waves ICO ended 2 days ago. A few hours later yobit started their IOU market:
http://yobit.net/en/trade/WAVES/BTC
It escalated quickly to really high prices (24h high: 0.1 BTC or 10,000,000 satoshi)!! Then for unknown reasons yobit announced that they will reset the Waves tokens price and put sell walls of cheap tokens near ICO price. About 18 hours ago, yobit made waves offline for a few minutes, and then they got it back and reset the Waves orders. Then they put a few sell orders at prices like 40000 (sold out in a few seconds), 80000, 120000, 200000, 400000 and 800000 satoshi.
In a few minutes 80000 and 120000 satoshi sell walls were all sold out too, and day traders (in this case maybe minute traders! lol) started selling their cheaply bought tokens between 100K - 200K. Right now the 200K sell wall is gone too, and it's trading around 220K satoshi with a 24h volume of 134 BTC:
The Waves devs have always disliked the idea of IOU trading and they recommended people to stay away from IOUs and yobit, and wait for the real thing to begin.
So, what do you guys think about this whole process? Any ideas are welcome, just please try to be helpful and avoid posting useless comments like this site is a scam / that dev is a monster / that crypto is a shitcoin / etc...
As you know, Waves ICO ended 2 days ago. A few hours later yobit started their IOU market:
http://yobit.net/en/trade/WAVES/BTC
It escalated quickly to really high prices (24h high: 0.1 BTC or 10,000,000 satoshi)!! Then for unknown reasons yobit announced that they will reset the Waves tokens price and put sell walls of cheap tokens near ICO price. About 18 hours ago, yobit made waves offline for a few minutes, and then they got it back and reset the Waves orders. Then they put a few sell orders at prices like 40000 (sold out in a few seconds), 80000, 120000, 200000, 400000 and 800000 satoshi.
In a few minutes 80000 and 120000 satoshi sell walls were all sold out too, and day traders (in this case maybe minute traders! lol) started selling their cheaply bought tokens between 100K - 200K. Right now the 200K sell wall is gone too, and it's trading around 220K satoshi with a 24h volume of 134 BTC:
The Waves devs have always disliked the idea of IOU trading and they recommended people to stay away from IOUs and yobit, and wait for the real thing to begin.
So, what do you guys think about this whole process? Any ideas are welcome, just please try to be helpful and avoid posting useless comments like this site is a scam / that dev is a monster / that crypto is a shitcoin / etc...
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