GAS - greed at its finest

[dfarkas]

Don't get why people are so gullible.

Just throwing money away at something basically worthless - NEO transactions are currently free (for an undefined amount of time), GAS utility is basically still undefined in many ways and even if you believe you'll get something from staking/bookkeeping it - thats like years away. Even NEO ICOs will accept nothing more than NEO/ETH/BTC/Fiat - because a working NEO economy is still years aways and still clouded in mystery.

To make matters worse - I've been watching the books on Binance. You'd see all these 1000+ coins sales/buys appearing and disappearing (in regular intervals) but then look at the trade history and see only like single/double digit sales really happening

Manipulation at its finest - lots of people are really going to get burned...

[maya33]

Yup, I came to the same conclusion and also sold mine yesterday.

There are all these bot-initiated microtrades that are driving the price up, then you'll see like a huge buy (together at least 1000+) which corresponds to the sell orders. They'll be there for show for a few minutes - then both sell/buy will disappear as if they got executed. But there is nothing about it in trade history - it all gets canceled - just for show LOL  Chinese whales playing around and fishing 

Did a quick graphic to prove it here:
http://imgur.com/a/dEnXJ

Stay safe people!

[dfarkas]

LOL panic sells piling up somebody's profits are going to get eaten 

[soothaa]

Gas is currently decently rare and that makes it valuable. Sure the NEO ecosystem is new and largely undefined, but so was ETH at the start and look at it now. People are trading against the future possibility of NEO exploding and having lots going on. Also, greed is good. We wouldn't be here in this market if people did not think they could not make money. People want to make money. And that is why the prices are going up.

[Ethereuming]

In China there is so much cash and they are nationalists. Gas and Neo have big chances to go up so much.

[dfarkas]

Trading is speculation in itself. And its ok if you're basing it on sound parameters - we're all grown men/women here.

But if somebody pushes the price by fraudulent means (fake liquidity or bot-based manipulation - most of this is illegal in regulated stock markets but of course nor regulated in crypto) because they want to take advantage of newbie traders - then its a problem.

Because lots of people might lose their savings on short-term trades they are baited into - especially in this case because these GAS frauds are basically riding NEO's success.

[Bossthirteen]

Noob missed the train

[ImHash]

In China there is so much cash and they are nationalists. Gas and Neo have big chances to go up so much.

Damn.

In China there is so much cash and they are nationalists. Gas and Neo have big chances to go up so much.

Damn. There is no sh*t in China other than a billion hungry people you fu*ker failed to do a proper shilling, you just repeated the exact sentence from your alt
A far as I know people could mine ETH while there is no mining in NEO, pure ICO and pre-mined half the supply.
When there are no miners then who is providing the needed computing power to deploy smart contracts?
Show me one simple use case for NEO, what is being offered in this world that for using it I'd need to spend some NEO? at least with ETH we could buy ICO tokens and if NEO is about the same thing then why bother to use it instead of ETH?

[Filmmmakerr]

Chinese are professional money makers, there is no doubt in mind that the people behind NEO are gonna be billionaires within a year.