but what was the point of resetting i dont understand because its currently still trading
Because IOU trading is bad for crypto.
so shut all exchanges, because all trade IOUs
thats not being decentralied. i dont see why people even have a issue people should know its IOU its not the real price if anyone is to blame is themselves. i think IOU is good PR. come one serously who really believed that lisk price ico at 18k sats it rose to 0.04btc come on people cant be that naive
I found something interesting in the article. When explaining the yobit waves reset process it says:
Quote
It also refunded the initial buyers to whom it had sold its IOUs as principal.
Did anybody know that yobit had refunded the people who bought waves before its reset process? I remember in their trollbox they recommended people to sell their waves to buy orders before the reset happened, but didn't know they refunded people. If that's right it's fine.
but what was the point of resetting i dont understand because its currently still trading
This is exactly what I said before. The current low price niveau is ideally to get into the coin. You should rather increase your stake instead of yammer. We are still in a very early stage of the blockchain technology and there are up and downs. So, do not be afraid of a declined price but rather be happy to get the chance to cheaply buy new coins for the next long run pump. There are so many companies which are interested in blockchain technology and which are mentioned Factom so far.
What is the team doing to support the price here???
They raised $6M + 8.500.000 LSK that they own theirself. Why are they not put in $4M to support the price. I know that ICO price wass 18000sats but still. LSK now dropped to 64000 sats and people are getting unhappy....
the money raised is was not raised to support price financially but with development. its fall is linked to btc rise which is common its always happen in the past btc up alts down.