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Topic: Why Exchange Run ICOs may be a bad idea (Read 350 times)

sr. member
Activity: 756
Merit: 250
February 02, 2019, 12:00:10 PM
#48
if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?
It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.
Why should the exchange make restrictions. Who wanted to buy it, but some just did not have time as the sale of tokens lasted 18 minutes. I heard that the demand was huge and the exchange began to work unstable during the sale.
Apparently the trading market did restrictions at its discretion, because it could not billiards for the entire cryptocurrency market and do something for the benefit of the cryptocurrency. today, we are witnessing a general fall in the cryptocurrency market, and these factors have a bad effect on weak exchangers.
jr. member
Activity: 210
Merit: 1
February 02, 2019, 11:13:53 AM
#47
if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?
It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.
Why should the exchange make restrictions. Who wanted to buy it, but some just did not have time as the sale of tokens lasted 18 minutes. I heard that the demand was huge and the exchange began to work unstable during the sale.
full member
Activity: 1820
Merit: 107
February 02, 2019, 10:55:13 AM
#46
So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697
Well these is crypto everyone can speculate. But whats wrong with those coin offering on exchange, Besides its not a shitcoin remember its Bittorrent its already an establish name and now just tokenized. Lets just accept the reality the so called Whales are exist in this space so why we bothering ourselves with it. just focus on what are we doing to earned better results.
legendary
Activity: 1442
Merit: 1025
February 02, 2019, 10:46:14 AM
#45
So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.
We can't really know if its a good thing or a bad thing without testing it out. I mean how would we know if it will be better or worse without actually testing these kinds of BTT deals on binance like giants. That is why I support the first 10 ICO's that are on binance because that way we will see how it will be for the people who participate and then come to a conclusion if it was a good idea or not.

If all 10 are bad then we will not continue with it or at least give any importance to it, if there are 2 or 3 good ones among the first 10 then we will decide it could be good or it could be bad, if over 5 of them are good then we can say it was a good decision. Hence, we need to wait and see how it will be for the next ones and how they will be AFTER the ICO as well.
full member
Activity: 812
Merit: 120
https://combonetwork.io/
February 02, 2019, 10:04:36 AM
#44
binance is now a popular exchange in altcoins but if they also run ICO it's a decision the CEO has taken.
I strongly disagree because with that there will be many more exchanges that will follow in the footsteps of the binance.
which makes the ICO can be manipulated by the pope.
sr. member
Activity: 2030
Merit: 269
February 02, 2019, 09:46:21 AM
#43
There are advantages and disadvantages, the coin will automatically be listed, this is not actually the first time, they just copied Yobit, who from time to time launch new ICO in their market and eventually get pumped those ICO coming from their platform from time to time.
sr. member
Activity: 686
Merit: 257
February 02, 2019, 08:52:44 AM
#42
Well, I guess any project won’t be any limitation to the amount a person can buy. The more funding raise and earlier the ICO end will be better for the project. To be frank, limitation to the amount might just delay the success of ICO.
hero member
Activity: 1582
Merit: 670
February 02, 2019, 08:21:18 AM
#41
Although not as expected, the number of ICOs is decreasing. In particular, recently published ICOs usually belong to cryptocurrency exchanges. So we started to reach the satisfaction point. There will not be much new coins anymore, I think.
hero member
Activity: 1302
Merit: 540
February 02, 2019, 08:19:25 AM
#40
I could say that Binance is not that dumb to agree to sponsor the tokensale without any proper agreement from BTT. I am pretty sure that they are also aware of the pump and dump scheme which could lead to lowering the credibility of Binance so there might be some sort of penalty on BTT side if theu will be unable to fulfill that agreement. Besides, Binance are freezing an account that has a fraudulent activity of pump and dump scheme.
Good point, binance is not that dumb though this idea of catering ico is really a risk for their business, but like you I also see good points why binance
allowed this to happen aside from it's just pure business and there's money that flow after, BTT still above the first offer and those who able to bought
this coin when the offer begins are all happy with the gained that they've got, after this there's chances that we will be able to see more project that
will also offer the same.
member
Activity: 261
Merit: 10
https://assetsplit.org/
February 02, 2019, 08:16:48 AM
#39
So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697
There were only 1000 buyers and these 1000 buyers caused technical problems on Binance? That is not good news for Binance  Grin.
member
Activity: 434
Merit: 11
February 02, 2019, 08:03:52 AM
#38
I could say that Binance is not that dumb to agree to sponsor the tokensale without any proper agreement from BTT. I am pretty sure that they are also aware of the pump and dump scheme which could lead to lowering the credibility of Binance so there might be some sort of penalty on BTT side if theu will be unable to fulfill that agreement. Besides, Binance are freezing an account that has a fraudulent activity of pump and dump scheme.
hero member
Activity: 1456
Merit: 579
HODLing is an art, not just a word...
February 02, 2019, 07:59:28 AM
#37
not just that but it is also bad for the reputation of that exchange too. simply because all these ICOs are going to live for a short time and then turn into actual shit and when the coin is turned into useless pile of code in user's wallet that is worth zero, they will start blaming anybody who was involved in it including the exchange themselves.
full member
Activity: 602
Merit: 100
February 02, 2019, 07:22:11 AM
#36
What's the difference? If people spend ICO or the exchange, which not so long ago began to work in the field of cryptocurrency. Do you think this is normal? It seems to me that in general it is not quite normal. Because today it is really a significant problem.
sr. member
Activity: 854
Merit: 267
February 02, 2019, 07:09:20 AM
#35
Binance does this for the first time and you do not have to join this ICO. But before Binance, this exchange ICO sales had already begun in exchanges like Latoken. This is not a new method for ICO's.
hero member
Activity: 2128
Merit: 530
PredX - AI-Powered Prediction Market
February 02, 2019, 06:50:22 AM
#34
There is nothing that has no advantage and disadvantage, ICOs use to raise fund through exchanges in the early days of ICO, Poloniex use to do it and not surprise developers are opting for it now, especially with Binance knowing fully well that it will be listed on the exchange for certain and no need to pay ridiculous listing fee to get it again on big exchange
legendary
Activity: 1596
Merit: 1011
February 02, 2019, 06:29:39 AM
#33
It doesn't makes any difference, whales have been manipulating the price of every ICO in the horizon so I wouldn't be surprise in this case.

I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.

You really don't understand it. How can it regulate or prevent manipulation? Exchanges has no control whatsoever. Just look at those exchanges conducting their own ICO's, all of them are below ICO's price, the bearish sentiments might be a contributory factor, but for me it's pure manipulation.
this situation almost occurs in most exchanges. this is normal because market conditions are in a bad situation. there are many influences that make the situation negative and therefore when a team developer does not have the power, they will experience a failure, that is, with a decrease in price when listing on the exchange.
hero member
Activity: 2842
Merit: 772
February 02, 2019, 06:18:10 AM
#32
It doesn't makes any difference, whales have been manipulating the price of every ICO in the horizon so I wouldn't be surprise in this case.

I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.

You really don't understand it. How can it regulate or prevent manipulation? Exchanges has no control whatsoever. Just look at those exchanges conducting their own ICO's, all of them are below ICO's price, the bearish sentiments might be a contributory factor, but for me it's pure manipulation.
full member
Activity: 448
Merit: 100
February 02, 2019, 06:13:35 AM
#31
I actually think this is a good way of selling token or coin, more easier and convenient to the buyers. I will really love this if the exchange can play more role to stop scam project by doing enough verification of the project owner and a little about investors of only verify accounts.
Reality is not like that. You will not be able to easily purchase those token at ICO. Look at BTT, no one can buy the ICO. There are only 1000 lucky people and the rest are sharks and whales manipulating it. And the price of BTT has increased 5 times compared to the ICO price, obviously BTT has been manipulated by big investors and we have to buy it at a much higher price.
full member
Activity: 504
Merit: 102
February 02, 2019, 06:09:23 AM
#30
So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think this is their strategy to dominate the crypto exchange industry. Forces users of their exchange to buy their tokens in exchange for benefits they can acquire as holders. I don't know if this is a fair practice but as users, you tend to buy to avail these promised benefits.
full member
Activity: 385
Merit: 100
February 02, 2019, 06:04:29 AM
#29
I don’t agree with you. Seems that you didn’t buy BTT tokens and now you are angry. As for me, I bought them in exchange and sold with 30% profit. It is enough for me, easy money without risks
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