Title: huge difference in the price of BTCST on different exchanges Post by: Sun2k on January 14, 2023, 11:05:30 AM Hi everyone,
Why is the price of BTCST on poloniex around $12 but on other exchanges it is $0.89? Thanks Title: Re: huge difference in the price of BTCST on different exchanges Post by: franky1 on January 14, 2023, 11:27:00 AM Hi everyone, Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89? Thanks BTC? i just checked poloniex BTC / USDT 20684.00 ≈$20705.55 https://i.imgur.com/na7DNas.png i think what you are looking at is NOT bitcoin but some altcoins/sidechain token phishing to be bitcoin edit. seems he is talking about Sh*tToken not BTC Title: Re: huge difference in the price of BTCST on different exchanges Post by: un_rank on January 14, 2023, 12:01:14 PM think what you are looking at is NOT bitcoin It is some coin named Bitcoin standard hashrate[1]. Never heard of it before now.but some altcoins/sidechain token phishing to be bitcoin This post could be a scam attempt to attract users to certain exchanges so they can lose their money while trying to gain big from arbitrage. [1] https://www.coinbase.com/price/btc-standard-hashrate-token - Jay - Title: Re: huge difference in the price of BTCST on different exchanges Post by: Tytanowy Janusz on January 14, 2023, 12:52:48 PM Hi everyone, Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89? Thanks "BTCST has undergone a 1:10 token redenomination on March 15th 2021 following the STP-4 Proposal. For more information: please refer to https://btcst.medium.com/btcst-to-implement-results-of-stp-4-1-10-redenomination-the-week-of-march-15-872c9ea3d5b7" https://coinmarketcap.com/currencies/btc-standard-hashrate-token/markets/ So its possible that one exchange already switched to new tokens at a rate 1:10. So the spread is 8.9$ to 12$ not 89 cents to 12$. So much lower but still a lot which can be caused by locked withdrawals on one of exchanges. Title: Re: huge difference in the price of BTCST on different exchanges Post by: buwaytress on January 14, 2023, 01:41:48 PM Just to alert OP. It's a common exchange scam, you find it all over socials, Discord, Telegram. People coming in and telling you about the huge difference in spread on either a fake/crap coin like you posted, or a fake exchange (you deposit your coins there expecting to sell it at huge profit margin but it's just a giant sinkhole).
For the former, look up the chain. For the latter, look up the exchange and/or deposit exchange. Title: Re: huge difference in the price of BTCST on different exchanges Post by: pawel7777 on January 14, 2023, 01:54:14 PM Hi everyone, Why is the price of BTC on poloniex around $12 but on other exchanges it is $0.89? Thanks "BTCST has undergone a 1:10 token redenomination on March 15th 2021 following the STP-4 Proposal. For more information: please refer to https://btcst.medium.com/btcst-to-implement-results-of-stp-4-1-10-redenomination-the-week-of-march-15-872c9ea3d5b7" https://coinmarketcap.com/currencies/btc-standard-hashrate-token/markets/ So its possible that one exchange already switched to new tokens at a rate 1:10. So the spread is 8.9$ to 12$ not 89 cents to 12$. So much lower but still a lot which can be caused by locked withdrawals on one of exchanges. Could be it, but it could also likely be a result of an extremely low volume. According to CMC, the daily volume on Poloniex is a whopping $20.63, meaning anyone can manipulate the price anywhere they want at almost no cost at all. Anyhow, this belongs to Altcoin discussion. Title: Re: huge difference in the price of BTCST on different exchanges Post by: Sun2k on January 14, 2023, 07:33:07 PM Thank you all..
I posted here because the BTCST is used to mine BTC @Tytanowy Janusz, Yes I knew there was a redenomination.. but the price is 0.89$ not 8.9$ |