Strange Lisk price patterns at Yobit and Bloombit

Emperor of Man

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Quote from: Nxtblg on May 22, 2016, 08:21:11 AM

Quote from: Emperor of Man on May 22, 2016, 05:08:36 AM

Past few days the price has increased big time in yobit (from 300K satoshis to 1.5 million satoshis, and then corrected to 1.2 million), but bloombit price has been around 200K and has not changed much...

I can't figure it out! Why would the price be more than a million in yobit and 200K in some other exchange? Wouldn't the yobit buying guy be wiser to buy lisk at bloombit for much cheaper? I think the only explanation is that people do not trust bloombit and think there's something wrong about it.

So, what do you guys think? Do you think bloombit will let people withdraw their promised lisk soon after it gets launched? Or it does it with a delay? Or it doesn't at all?

Something feels wrong here... Huh

See for yourself:
Yobit: https://yobit.net/en/trade/LISK/BTC
Bloombit: https://www.bloombit.net/trade

1) Bloombit is less trusted than Yobit, in large part because it's a new exchange whose trading was rinky-dinky until it listed its IOU-Lisk.
2) Bloombit's market is pretty damn thin. As I write this, the low ask is 208,000 satoshis but the high bid is 154,451 satoshis.
3) Yobit's repute as a kind of altcoin casino has attracted a lot of traders, pumpers, etc., which seem to be absent from Bloombit's clientele.
4) Since Yobit's and Bloombit's IOUs are not arbitragable until or unless they're redeemed for real Lisk, the spread between the two exchanges can get even wider until launch.

tl;dr: Bloombit's IOUs are selling at a deep discount relative to Yobit because of perceived counterparty risk. Yobit's IOUs have rock-and-rolled because it has a lot of pumpaholics in its clientele; Bloombit doesn't. So that's why the spread between the two has widened.

Yes, I agree that it's the most probable situation.

For God's sake I hope the worse scenarios won't happen. If they let us withdraw our lisk right after the launch I won't have any complaints.

Nxtblg

legendary

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Quote from: Emperor of Man on May 22, 2016, 05:08:36 AM

Past few days the price has increased big time in yobit (from 300K satoshis to 1.5 million satoshis, and then corrected to 1.2 million), but bloombit price has been around 200K and has not changed much...

I can't figure it out! Why would the price be more than a million in yobit and 200K in some other exchange? Wouldn't the yobit buying guy be wiser to buy lisk at bloombit for much cheaper? I think the only explanation is that people do not trust bloombit and think there's something wrong about it.

So, what do you guys think? Do you think bloombit will let people withdraw their promised lisk soon after it gets launched? Or it does it with a delay? Or it doesn't at all?

Something feels wrong here... Huh

See for yourself:
Yobit: https://yobit.net/en/trade/LISK/BTC
Bloombit: https://www.bloombit.net/trade

1) Bloombit is less trusted than Yobit, in large part because it's a new exchange whose trading was rinky-dinky until it listed its IOU-Lisk.
2) Bloombit's market is pretty damn thin. As I write this, the low ask is 208,000 satoshis but the high bid is 154,451 satoshis.
3) Yobit's repute as a kind of altcoin casino has attracted a lot of traders, pumpers, etc., which seem to be absent from Bloombit's clientele.
4) Since Yobit's and Bloombit's IOUs are not arbitragable until or unless they're redeemed for real Lisk, the spread between the two exchanges can get even wider until launch.

tl;dr: Bloombit's IOUs are selling at a deep discount relative to Yobit because of perceived counterparty risk. Yobit's IOUs have rock-and-rolled because it has a lot of pumpaholics in its clientele; Bloombit doesn't. So that's why the spread between the two has widened.

Emperor of Man

hero member

Activity: 886

Merit: 510

Past few days the price has increased big time in yobit (from 300K satoshis to 1.5 million satoshis, and then corrected to 1.2 million), but bloombit price has been around 200K and has not changed much...

I can't figure it out! Why would the price be more than a million in yobit and 200K in some other exchange? Wouldn't the yobit buying guy be wiser to buy lisk at bloombit for much cheaper? I think the only explanation is that people do not trust bloombit and think there's something wrong about it.

So, what do you guys think? Do you think bloombit will let people withdraw their promised lisk soon after it gets launched? Or it does it with a delay? Or it doesn't at all?

Something feels wrong here... Huh

See for yourself:
Yobit: https://yobit.net/en/trade/LISK/BTC
Bloombit: https://www.bloombit.net/trade

Dick Roman

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Merit: 0

We are opening this comment to debate on the motion of Lisk token bit in the chameleon

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or pm.

Lisk was BTC0.0008, has risen to BTC0.001 Raido runs giving time.

our smart contract is available with digital signature and conference on the platform, and registration via blockchain!

IT's Chamelicious!

chameleonbit.trade

https://i.imgur.com/fDt7uZk.png

JeanMcCoy

sr. member

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Merit: 250

For some reason i got a bad feeling about like and therefore would avoid them at all cost.
It may seem a legit coin in the future but on short therm I don't see anything backing them up.

ttookk

hero member

Activity: 994

Merit: 513

Quote from: Emperor of Man on April 17, 2016, 06:31:27 AM

Quote from: ttookk on April 16, 2016, 05:16:42 AM

Do you think, when the fixed release date is announced, we will see a price spike on the IOU tokens?

Why would it cause a price spike?

The release date is already (almost) known. End of April or beginning of May.

Mostly because it is going to be widespread news, renewing the focus on Lisk. You know how it is: You say peep, everybody jumps

Second, because this is giving a time frame, as to how long the IOU trading will be IOU trading. Actually, the opposite, Lisk IOU price dropping, could happen as well: Since the Lisk IOUs are like any other coin that is traded only on yobit, people might want to get out, either because they want to play it safe, because they viewed the IOUs as just another P&D-shitcoin for the time being and this is coming to an abrupt end, or because they think the predictions which claim that the real lisk price will be under the IOU price are true.

If you look at crypti, you see that the price rose significantly after the ICO ended, which makes sence, since there was a heavily decreased amount on the market, but only in the short term. The future of Crypti is undecided and nearly all possible scenarios point towards a price collapse, once the Crypti held by the Lisk team is set free. If you compare that to the IOU trading on yobit, there might be the same dancing on an active volcano mentality at play.

Emperor of Man

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Quote from: ttookk on April 16, 2016, 05:16:42 AM

Do you think, when the fixed release date is announced, we will see a price spike on the IOU tokens?

Why would it cause a price spike?

The release date is already (almost) known. End of April or beginning of May.

ttookk

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Activity: 994

Merit: 513

Do you think, when the fixed release date is announced, we will see a price spike on the IOU tokens?

ttookk

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Activity: 994

Merit: 513

Quote from: BTCLovingDude on April 08, 2016, 08:31:03 AM

Quote from: ThePatient on April 08, 2016, 02:23:53 AM

LISK is NOT released yet. period.

anything that is being bought/sold is just a promise out of thin air.

these exchangers might not even have enough LISK to cover withdrawals by the time of release and when anybody would want to withdraw what they have bought so far.

If they actually don't have the Lisk yet and needed to buy it to replace the IOUs, that would be very interesting, price-wise.
If you would find that out and made it public, yobit's only opions would be to buy Lisk at nearly any price, or take the money and run.

Ilove-Obama

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Quote from: BTCLovingDude on April 08, 2016, 08:31:03 AM

Quote from: ThePatient on April 08, 2016, 02:23:53 AM

Idea: Sketchy exchanges are trying to make the most money they can.

i wanted to say the same thing but the problem with this idea is that they are putting up "huge" sell walls at a very low price of 0.004 according to the picture and in comparison with yobit.

they are either stupid or have other agenda against LISK.

Quote from: StinkyLover on April 08, 2016, 07:57:14 AM

Looks like a Futures Market has been created in the crypto space. A dangerous development.

A question:

Can an individual buy a LISK IOU at say 1,000 sats and then sell it at 2,000 sats, making BTC profit without any LISK changing hands?

If yes, then this is a futures contract market and they are manufacturing BTC profit out of thin air!

Cheesy

LISK is NOT released yet. period.

anything that is being bought/sold is just a promise out of thin air.

these exchangers might not even have enough LISK to cover withdrawals by the time of release and when anybody would want to withdraw what they have bought so far.

We need to invest only in real coin waves, edon, eth and other

Nxtblg

legendary

Activity: 924

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Just checked Yobit, and its Lisk-IOU is slinking along at ~0.004 on less than 5BTC volume. The punters' excitement is all-but gone.

shintosai

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Merit: 500

Quote from: IOTUSA on April 14, 2016, 08:22:22 AM

Bloombit is almost an outright scam. They are simply trading their own supply, wildly crossing their fingers and hope they come out on top. They will likely get wrecked at this price level when Lisk goes live over $2

yes indeed as far as there is no proper announcement of lisk release coin we really don't know what is the exact price and these two trading platform only doing some gambling and hope many will play with them.

IOTUSA

sr. member

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Bloombit is almost an outright scam. They are simply trading their own supply, wildly crossing their fingers and hope they come out on top. They will likely get wrecked at this price level when Lisk goes live over $2

alisaadat60

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Activity: 87

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only one choice
difinitly bloombit is fake and scam
they are manipulating lisk price to half
you go there and buy lisk but you have to sell to half price because all price are manipulating by site manager

Emperor of Man

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Activity: 886

Merit: 510

Update: the third exchange has started selling Lisk IOUs (https://bitshares.openledger.info).

Ironic fact is, people are all selling their lisk IOUs in Bloombit, with a price of 200K satoshis, which is a lot less than they bought it originally from the site (460K satoshi when bloombit started trading Lisk IOUS), and also they chose to sell them much cheaper than Yobit and Openledger! Grin

estenity

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yobit and bloombit could be run by the same person ?

Rune

legendary

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It was a smart move by both exchanges there making tons.
If they actually have the lisk from the presale to payback what they owe then there fine.
if lisk tanks they can just buy up cheap lisk with all the btc they made and still be fine.
if lisk skyrockets they can just run off with the btc or claim there was a hack.

House always wins.

synthgauge

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Merit: 502

Quote from: ttookk on April 10, 2016, 06:52:18 PM

Quote from: synthgauge on April 10, 2016, 06:41:40 PM

That price pattern is where the dots are being connected. Yobit opened an IOU market and lined up a considerable support to it. Noobs appeared and got thrown into. Alright then. Second ace they got on their hands is the knowledge that lisk will get snapped on launch. They go for it and buy a necessary quantity of lisk and swap it for overpriced IOU they cashed out for btc. Simple rote of actions and is perfectly on point with gargantuan volatility of the iou in the daily.

Plausible. But I think it is equally plausible, that a) Yobit actually bought into the ICO (why shouldn't they, if they planned this anyways?) and b) that the volume is created by day traders. I imagine there are a bunch of people out there, playing the old p&d shitcoin game with Lisk IOUs atm. With that, yobit doesn't need to inflate the volume artificially.

a) Could be. And moreover, could be setting a rationale behind sharp downday in IOU. Even though they must have bought a very little of it.
b) I wont mind taking this as the case as bloombit is yobit. Made to be broken from the inception and assist in selling u more ious. The first shit it added after maid was khan, russian ruse available exclusively in print toilet paper edition with ccex logo engraved on it. I mean, seriously, what sort of imbecile should u be to add khan? This bloom bloom fart has been holed up 2 months now staying in the shadows far away from this space, and now out of nowhere, is getting turnover of over 500 btc.

Noobs be plentiful buying swings between yobit and bloombit and it justifies the emergence of bloombit as the greater the spread the more noobs there are and more money comes in.

ttookk

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Quote from: synthgauge on April 10, 2016, 06:41:40 PM

That price pattern is where the dots are being connected. Yobit opened an IOU market and lined up a considerable support to it. Noobs appeared and got thrown into. Alright then. Second ace they got on their hands is the knowledge that lisk will get snapped on launch. They go for it and buy a necessary quantity of lisk and swap it for overpriced IOU they cashed out for btc. Simple rote of actions and is perfectly on point with gargantuan volatility of the iou in the daily.

Plausible. But I think it is equally plausible, that a) Yobit actually bought into the ICO (why shouldn't they, if they planned this anyways?) and b) that the volume is created by day traders. I imagine there are a bunch of people out there, playing the old p&d shitcoin game with Lisk IOUs atm. With that, yobit doesn't need to inflate the volume artificially.

synthgauge

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Activity: 1150

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That price pattern is where the dots are being connected. Yobit opened an IOU market and lined up a considerable support to it. Noobs appeared and got thrown into. Alright then. Second ace they got on their hands is the knowledge that lisk will get snapped on launch. They go for it and buy a necessary quantity of lisk and swap it for overpriced IOU they cashed out for btc. Simple route of actions and is perfectly on point with gargantuan volatility of the iou in the daily.

Topic: Strange Lisk price patterns at Yobit and Bloombit (Read 4734 times)