I found something interesting in the article. When explaining the yobit waves reset process it says:
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
Read the article, it's interesting.
It says that a while back when yobit did its lisk IOU trading campaign the price went up a lot, but when lisk launched the usual dump caused a big crash and many people complained to yobit PR that why has the price of lisk crashed to %5 of what it has been before launch? Yobit didn't want this thing to happen again with waves, so when the waves IOU price went up crazily to 10,000,000 satoshi they decided to reset the orders and put sell walls at different lower prices, so that the price doesn't go that crazy-high again.
Yes, that article was written by a member of this community - namely, me.
Word draft available for inspection.
Sry I wasn't around at the time these posts were made, but I had some bricks-and-mortar responsibilities that were thrown on me & as a result, I had a
lot of catching up to do. I left this thread 'til last because it was the longest. Now I know more about the bounty situation than I want to.
(Speaking of which, I got all the ones I'm entitled to: thanks, devs!)
Nice to read that the mainnet & lite client is scheduled for release tomorrow. Looking ahead, WAVES' real value proposition will kick in once the fiat gateways are in place. That'll make crowdfunding a lot more feasible for all those folks in the outside world. Right now, crypto is pretty-much fated to be a tool/facilitator for the fiat economy - just like the first real-world use cases for the steam engine were aiding industries that were well-established beforehand. Since we're in the "handmaid" stage of the game, WAVES' fiat gateways will make it a real contender.
