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48-hour Bittrex Buy Wall == GOING FULL RETARDED
We know what you mean
If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do. It is their BTC they can invest how they wish. There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.
We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only. It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.
The statements above only stand for the 48 hour buy back period.
Thank you,
Ryan @ Bittrex
Thank you Ryan for the explanation.
However I think that the concern people have here is that anyone who wants to cripple the ITO can deposit as much BTC as (s)he likes, put up slightly higher bids to attract buyers, and then sell into the buy wall at a slight loss.
The cost of this would be minimal.
If you're aware of the smear campaign we've endured, you'll have little doubt about the presence of people who would very happily pay a low price to make the ITO fail.
This, in my opinion, presents a sure-fire way for opponents of the Blocknet to create conditions that do not reflect true interest in the project.
As such, I think that the buy wall does not address the unfair conditions due to open trading being enabled on Poloniex. Instead it creates a severely unfair condition for every single supporter of the Blocknet.
I request that you end the Buyback period early.
Sincerely
Arlyn
