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February 06, 2018, 01:17:56 PM |
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A few years ago, I was considering paying YOBit to get listed. HOdlcoin didn't have an exchange and everybody was eager to trade. "Paying YObit to list is like paying somebody to punch you in the face", Fuzzbawls cheerfully remarked. Fuzzbawls is older and wiser than me. Or at least I hope he's older, cause he's certainly fucking wiser. I couldn't see the downsides, so I paid up the .1BTC. Fuck I wish I hadn't. Their incompetence and dishonesty are destroying HOdlcoin.
The problem came we updated the coin. We gave them a weeks notice of the upcoming fork, they just ignored it, and left trading open on the old branch. They took deposits on the old chain and when they eventually updated to the new chain, they couldn't meet their obligations. Now they don't have enough HODL to cover their deposits. Rather than resolve the situation, they've left trading open, but disabled deposits and withdrawals. This is causing a lot of uncertainty for HOdlcoin, and it is difficult for the coin to grow because of it.
YObit has also now announced a new policy of charging for every update - so expect a neverending stream of requests for more BTC to continue support for your coin. Who knows what they'll charge for next? Maybe they'd be better off trying to charge for NOT listing your coin. That would certainly be better value.
And if you have funds on YObit? Don't. You're gonna get bitten sooner or later. Whether it is through their incompetence or dishonesty, you'll eventually get punched in the face too.
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