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Author Topic: Yobit's LISK Pre-Release Market  (Read 1376 times)
instacalm
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April 06, 2016, 06:54:03 PM
 #1

WARNING: Be safe and stay away from Yobit!


TL;DR: Yobit decided to trade pre-release LISK "IOU Tokens" and opens "LISK TOKEN/BTC" market.
[YoBit: "We bought some amount of coins on ICO and now it's available for trade."];  Market opens, rise began.


Little bubble's flying too high. Be careful!




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April 06, 2016, 06:57:53 PM
 #2

Do U like my BTC at play ?

~CfA~

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April 06, 2016, 07:18:04 PM
 #3

 Shocked How high can it go?
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April 06, 2016, 07:35:40 PM
 #4

This is crazy anyone who bought at the initial price start already made some profits
without the real product even launched yet.

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April 07, 2016, 12:02:55 AM
 #5

This is good advice, not only for Lisk IOU, but anyone that leaves control of their coins on centralized exchanges.

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April 07, 2016, 12:27:47 AM
 #6

This is crazy anyone who bought at the initial price start already made some profits
without the real product even launched yet.

Actually, they haven't. It's impossible to deposit any Lisk, so no-one can sell any into that market. The only one who can (who has) is Yobit; the "Lisk" is their IOU from the pre-sale.

Now that the subject is up, they might have been the ones who sunk 1000 BTC into the thing...

But guesses aside, the fact that Lisk is not released yet makes Yobit's LISK/BTC pair an artificial market. It's an artificial market with constrained supply. If Lisk were really released and Yobit's pair were a real market, the price would be lower. There'd be a lot of ICO investors depositing their Lisk and filling up the sellbook. Almost certainly, given the current high bid is 0.0094 (?!), there'd be a lot of ICO buyers hitting the bids.

Gawd almighty: that (tiny) high bid calcs out to almost four dollars!  Shocked  The ones who've been yelling "LISK $1 AT OPEN!" have certainly gotten their wish.

And Yobit has a huge-volume market that's beat Bittrex by close to a month. Regardless of where Lisk goes, the ones who'll be going nom nom nom are Yobit's owners. They have what appears to be a monopoly on trading it, and they'll be nom nom noming the trading fees until Lisk is released. Really, I have to hand it to them: using their ICO ration to set up a market, artificial though it is because of the supply restriction, was a stroke of competitive genius. By the time Trex gets in, Yobit will have nom nom nomed a lot of trading fees.

But please remember if you're thinking of buying Lisk there: the artificiality of the market, specifically the supply restriction, means that you'll probably overpay if you buy "for real." If you're speculating, trading or punting, the artificiality will even out - provided you exit your positions before the release.






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April 07, 2016, 04:12:57 AM
 #7

yobit is such scammy exchange

yolo
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April 07, 2016, 08:44:53 AM
 #8

This is crazy anyone who bought at the initial price start already made some profits
without the real product even launched yet.

Actually, they haven't. It's impossible to deposit any Lisk, so no-one can sell any into that market. The only one who can (who has) is Yobit; the "Lisk" is their IOU from the pre-sale.

Now that the subject is up, they might have been the ones who sunk 1000 BTC into the thing...

But guesses aside, the fact that Lisk is not released yet makes Yobit's LISK/BTC pair an artificial market. It's an artificial market with constrained supply. If Lisk were really released and Yobit's pair were a real market, the price would be lower. There'd be a lot of ICO investors depositing their Lisk and filling up the sellbook. Almost certainly, given the current high bid is 0.0094 (?!), there'd be a lot of ICO buyers hitting the bids.

Gawd almighty: that (tiny) high bid calcs out to almost four dollars!  Shocked  The ones who've been yelling "LISK $1 AT OPEN!" have certainly gotten their wish.

And Yobit has a huge-volume market that's beat Bittrex by close to a month. Regardless of where Lisk goes, the ones who'll be going nom nom nom are Yobit's owners. They have what appears to be a monopoly on trading it, and they'll be nom nom noming the trading fees until Lisk is released. Really, I have to hand it to them: using their ICO ration to set up a market, artificial though it is because of the supply restriction, was a stroke of competitive genius. By the time Trex gets in, Yobit will have nom nom nomed a lot of trading fees.

But please remember if you're thinking of buying Lisk there: the artificiality of the market, specifically the supply restriction, means that you'll probably overpay if you buy "for real." If you're speculating, trading or punting, the artificiality will even out - provided you exit your positions before the release.

+1, very smart move from yobbit owners Shocked


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April 07, 2016, 09:04:03 AM
 #9

Wow that is a lot of BTC, is it a scam?
instacalm
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April 07, 2016, 10:45:54 AM
 #10

YOBIT LISK TOKENS
24High: 0.01500000 BTC (6.32$)
24Low: 0.00071428 BTC (0.30$)
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April 07, 2016, 12:05:06 PM
 #11

YOBIT LISK TOKENS
24High: 0.01500000 BTC (6.32$)
24Low: 0.00071428 BTC (0.30$)

It reached news highs on Yobit @ 0.017 BTC per Lisk. Even Coinmarketcap has already listed the coin with a price of $7.10  Shocked

http://coinmarketcap.com/currencies/lisk/

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April 07, 2016, 12:17:44 PM
 #12

......
Now that the subject is up, they might have been the ones who sunk 1000 BTC into the thing...
.....

this is what i thought when i first saw the market open up last day.

as the official announcement before and also after the YOBIT listing, everybody knew that it is not going to be released until end of April (i have even set up reminders) so the initial trade volume which was bigger than 100BTC was totally fake and the rise also looked more like what MtGox did with bitcoin rather than real traders buying.

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April 07, 2016, 12:29:51 PM
 #13

Upon release it will go back down to 1

Maybe lower.
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April 07, 2016, 12:30:49 PM
 #14

......
Now that the subject is up, they might have been the ones who sunk 1000 BTC into the thing...
.....

this is what i thought when i first saw the market open up last day.

as the official announcement before and also after the YOBIT listing, everybody knew that it is not going to be released until end of April (i have even set up reminders) so the initial trade volume which was bigger than 100BTC was totally fake and the rise also looked more like what MtGox did with bitcoin rather than real traders buying.

If they are the 1000 btc guys and they honour their promise of paying out, that would be one thing less to be concerned about.

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April 07, 2016, 12:34:20 PM
 #15

From Supernet Slack

Quote
whale
9:16 AM I’ve created a 1:1 LISK IOU asset on the NXT AE starting at 100 NXT/ LISK, the asset ID is 14738107721483067493LISK currently trades for 290 NXT/ LISK on yobit exchange. I am currently a member of NXTinspect (reputation), NEXT (trading) and WAVES (2.0 crypto platform).

https://www.mynxt.info/asset/14738107721483067493

1/10th the price of yobit currently
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April 07, 2016, 12:35:07 PM
 #16

Well organized scam i gotta give them that.
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April 07, 2016, 12:47:04 PM
 #17

I guess people are very trusting about yobit having these and fulfilling these iou's

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April 07, 2016, 01:06:00 PM
 #18

If you bought at that price on your chart picture on op you would still be in profit with the fake IOU lisk. lmfao thats hilarious.
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April 07, 2016, 01:14:37 PM
 #19

Made over 2000% over night on my BTCs thanks to Yobit?!
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April 07, 2016, 01:16:04 PM
 #20

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