Topic: [SNT] Official Status Network Speculation - page 26. (Read 157524 times)

waiting too long in Q1 2018
hopefully the roadmap can be accelerated so that it does not fall too far into the basic price of SNT now the price is far from worthy word

What will happen in Q1 2018?  Looks like 2018 will be the year of many coin! But there will probably be no places for everyone!

It probably will, mate.

25 BTC is quite a fortune already. In Q1 2018 you are probably a millionaire.  Premature congratulations!

I often put all my eggs in one basket, LOL

So, 25 btc can't be a whale. I missed many chances when selling bitcoin, eth, etc, lisk and xrp too early. I hope this time will be different 

You are a whale or something? 
By reaching this point, you'll 100x my position. FML.

SNT is really really low price!

What happened? Why isn't Status recovering after the crash?

I'm getting some more SNT. It can go x10 in a month...

Maybe poloniex wants it. I got to examine Civis, Omigo and Gas.

When snt on poloniex alot of people gonna buy it expensive , the price is a steal atm and no one buy it 😂

It feels like a polonnex will be trading soon. Of course this is only my 6th feeling

any update when the app is released in public?

The key thing to hope for is that it's not the devs behind this manipulation.  If what others have said is true, and the devs are locked to ether contracts, that is good news to hear.

Whales manipulate, it's what they do.  Look at the buy order charts.  It's like they are a set of steps, with heavy buys at certain points.  Zoom out on the long term movement charts.  SNT's fall is a steady predictable decline.  This is too accurate not to be anything other than a bot, probably something they created.  I've programmed and created crypto bots before, so I kind of have a feel for them.  They can appear random at first, but will always have a pattern if you look closely enough.  Also some of the randomness is from other people buying/selling normally, which the bots have to adjust to.  I can guarantee for every step they push the market down, they accumulate more SNT and put that aside for a future maneuver.

What should be done about it?  Absolutely nothing.  If they have the SNT and Bitcoin to manipulate the market like this for this long, then all the power to them.  Clever traders will recognize the patterns and use that to trade to their advantage as well.  But a word of warning, and I said it in my last post, we must be nearing bottom soon.  The lower they push the market down, the cheaper it becomes for another whale to move in and start buying their sell walls.  When that happens, they will turn off their bot and start buying from their profits as well.  Don't be surprised to see the market price double within a few hours, and for the people that are trying to flip the waves making 10% a go, they may find themselves having to buy back at a huge loss.

Until SNT appeals to more buyers, you will be at the mercy of a couple of whales, it's as simple as that.

The cryptocurrency market will be stable, but important, the whales still want to spend their money for make the price of Status token comeback or not, because it depends they have invested their money to this token and are waiting best time for create new trend like your wish or not too!

If price isn't raising tommorrow, i will finish 3M SNT target 

2018 will be Status year.  We have to be patient.

Great, thanks guys, I really appreciate the responses.

A long as I know it's not some kind of internal, dev led manipulation I am happy to stick it out. The whales will tire out and move on to a new game once this one gets old enough for them.

Good job VargyrBard, I've written same response to him but saw your post then it is not necessary anymore.

The Devs tokens are locked by smart contract, then whether the manipulation is real or not, it's not them anyway. There are quite a big number of tokens have been distributed during ICO, some parts of them went to the whales. They are free to use it at will, even to manipulate the market.

The price manipulation on exchanges just affect the short term investor. I would say mainly.

Long term hodler just don't care, and wait for updates/releases from the Devs. So yes, we are still following SNT.

Hey @a_north, if you check page 31 of the Status whitepaper (https://status.im/whitepaper.pdf), you'll see the distribution breakdown. You are correct about 20% of the total SNT supply being allocated to Status Core Dev; the Founders and Team. Those tokens are locked in a smart contract with a 24 month vesting period with a 6 month cliff.

The 29% in question is the Reserve for Future Stakeholders. Those tokens will be periodically offered to new contributors at a later date, but only if deemed necessary for the growth of the network, or burned if proven otherwise. They are locked for a minimum of 12 months.

The Status team has been completely transparent about these tokens, and even the ETH that they raised in the Contribution period. If you go to the status-network-token repository in their GitHub (https://github.com/status-im/status-network-token/blob/master/MULTISIG.md) you'll find links to not only the Status Community Multisig containing the locked 29%, but their R&D Multisig containing the ETH raised during the Contribution Period.

They raised 299,343.15 ETH during that time; of which, they still hold 284,429.085 ETH.

I hope that clears things up a bit.

I understand that these walls can keep the price low intentionally, while the coin doesn't have the attention of the masses....but once it gets momentum, these walls will be break into pieces.

@sweetbet and others who commented on this:

Are you still following SNT?

This is still going on, this apparent order book manipulation. I am wondering if you or others have any recent thoughts on this. It's been happening now for some time and I am really interested in getting to the bottom of this.

Have you checked any of the wallet and/or transaction information on the Eth Block explorer?

I did, and noticed there are 3 wallets holding ~60% of all SNT tokens. One of these has exactly 20% of total distribution, which is the exact amount distributed to the devs as outlined in the ICO notes. A second wallet holds 29%. Each of these wallets recieved one large deposit from the same wallet address on the same day about 80 days ago. No transactions in or out since then. Take a look at my previous post above for more on this.

I'd love to hear your or anyone elses updated thoughts on this situation. It is quite strange and I have become very interested in figuring out more about what might be going on here.

All:

I retract my previous statement in which I disagreed with previous posters' comments about SNT being manipulated in a big way.

To me, at this time, it is very clear this is the case.

I don't know exactly how, or who, but it is happening.

The previous poster who posted a few months ago is right- There is always one huge sell and one huge buy order a few Sats apart, essentially driving the price down and holding it there, then driving it down more.

This has been happening consistently for months now, I've been watching it.  

It's always the same thing:

The BUY/Sell orders are always about the same distance apart and for similar amounts, but this seems to be varied depending on the situation, which leads me to believe it is one enity (person, group of affilited people) doing this manually.

Sometimes these Buys/Sells seem to disappear without being filled, then reappear, but I'm not sure how I would confirm this, or any of this for that matter, but through my own observations and reading of other posts here I am 100% convinced.

In instances where there may be more natural upward market pushing, such as the completion of a double or triple bottom or a new all time low, this manipulaion seems to become more apparent and aggressive. Sometimes this means the Buy/Sell walls are larger, sometimes there are several stacked a few Sats apart.

Whatever it is, it is very counter to the way any order sheet I've ever wacthed behaves. The natural tendancies of the market to move, to rise, gain correct and so on are all very suppressed.

All of this got me curious so I started poking around EtherScan.io for SNT's stats, in particular the transactions and wallet balances.

Admittedly, I don't know what type of activity would suggest manipulation, in the blockchain and wallet activity that is:

Can anyone give me any insite on this? What type of information that could be found with a blockchain explorer would suggest and/or confirm any type of untrustworthy behavior?

Right now it looks like the top three addreses hold about 60% of the SNT tokens. One of these is Bittrex. The other two have only one, large, single incoming transaction from the same address on the same day, 80 some days ago. I assume these have something to do with the devs, since the token distribution states devs will hold 20% of tokens, which is exactly the amount in one of the wallets.

The other one has a single, large incoming transaction from the same address the dev wallet recieved a similar deposit from. 

One curious thing I noticed:
There is one wallet that has done 2,000 transactions over the last 5 days. More stats:  

-2,000 transactions in 5 days (122,460,424.5 SNT worth of transactions)
-Not in top 200 SNT wallets by ballance
- Transactions occur constantly, both recieving and sending
-Most of these transactions are either coming or going to the wallet affiliated with Bittrex, one of the top 3 by balance I mentioned earlier.

Is this just another Bittrex wallet perhaps? Is this normal?

A few more things I noticed in regards to the wallets. As mentioned, 3 of these wallets make up 59% of the SNT holdings:

-Bittrex Wallet ~10%
-Second wallet 20%
This is one of the two with only a single transaction ~80 days ago. I assume it is the SNT dev's wallet, because the token distribution pegs devs at getting this exact amount.
-Third wallet holds 29%. Same as the above, one large transaction ~80 days ago from the same address as the above wallet.

What's up with 29% of the tokens, the largest wallet balance, being seemingly affiliated with what appears to be the devs' wallet holding the alloted 20%?

Again, does all this make sense? Or does it seem weird?

I honestly don't know and would love to hear people who have more knowledge in this area's thoughts. Thanks.