Bitcoin Forum

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...

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.  ;)

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..

They sold waves last night with ico price and then it grew up to 200 k
in lisk case they finally gave people their withdrawal
I guess it`s not bad thing

here come the hype for the dump on releasing day for quick profits on a crap copy\paste with ton of promises scam, the old play book of paycoin, eth and tons of other scam
there is no reason to buy this crap waves

Who called this a record?  ???

If you mean the topic title, I meant "a record (log, report, or whatever else you would call it) of what happened in yobit".

One of us has a lousy English language skill. Which one? I dunno.  ;D

Record has two meanings. Before I read your post I thought about same as Stealthcoin.
I think Yobit is a useless site, I wouldn't trust any of their operation. It's better hold your WAVES in your wallet and when Poloniex launch market go trade there.

I did get my Waves after having bought the IOU thing previously.  It was a super-small amount and I'm not concerned, but the whole thing is fruitier than a San Francisco bath house.  Then I bet big (for me) on the real thing and made a few bucks.  I got lucky, that's all I can say.

Cheanged the thread title. I hope it's all better now. :)

Do you think they price will skyrocket just like in lisk just before the launch on 14.th ? (and  drop afterwards, but i am referring to the rocket first :D)

In case you didnt understand i was meaning this
https://i.imgur.com/MvOwRbA.jpg

Just be warned, don't buy those IOU's!

Lisk went up 2 times, once around the launch (as you can see in this picture) and once when the IOU selling started (at the first 24 hours of the yobit IOU market, early April, if I remember correctly, which this picture doesn't show because of its narrow range). Everyone of these pumps saw the value of lisk going up to 2-2.5 million satoshi.

Waves had the first pump after yobit started its IOU campaign, and it went up to 10,000,000 satoshi for about one day, and then yobit reset the price and orders. If it's going to have the second price surge, it would happen around the time it hits exchanges (June 14th.). Let's wait and see.

Since half an hour somebody is selling miniscule amounts .. every few seconds just to make the screen flash lol

Whats the reason, trying to bring the price down to accumulate?

I imagine if somebody really wants to sell he does it either all at once or slowly and not like this

Waves is the only project that can reach ether prices and dao maybe, waves fiat feature is super awesome. u only have to have patience and the profit will be much more.

It's really strange! All of the buy offers until the 400K sell wall are really small offers and can be fulfilled with a few BTCs, and yet they exist. By usual trend they must have been smashed to splinters a long time ago...

Could it be, people being afraid of yobit reseting the orders and the price again?


Definitely. I agree.  :)

That reset was sensible of them. Regardless what their real motives are, they are trying to pre-cool the speculative frenzy that would have led to the same kind of huge dump that afflicted LSK when it was launched. In a sense, they're trying to avoid making the same mistake twice. I guess the Lisk dump got to them.

What was the ICO price?

Around 38000-39000 satoshi.  :)

As long as we continue to see articles and interviews prior to the exchange launch prior to June 14th , it looks better each day.

Waves will go to exchanges on June 14th.  :)

Fixed, thanks!  Anyone know why we aren't seeing more articles on Waves? Now should be the opportunity to build momentum.

~37k sat per WAVE.