I'm starting to think getcoin365 was just another cryptostocks scam. They've missed their deadline for a second time with no updates, and worst yet there are 0 purchase orders on cryptostocks so investors have no chance to get money back out. When will cryptostocks begin to take responsibility for hosting a site that makes it easy for people to scam people?
Get365 has raised IPO flag sometime after the 4 feb, that clears the exciting order book and no one can put up any sell-orders and you can only put up buy stocks from get365 at there IPOprice.
No announcement from get365 that they did raise the IPO flag even. get365 did have open trades for 40+ days before they stopped peoples abillity to freely trade in it. There's one thing if a company already in the contract announces that they will have a IPO flag and for what period it will be like that, then people have a choice whether or not they want to invest in something with no liquidity for a certain period but cryptostocks should still clearly announce such new features and stocks that have the IPO flag active should have a it cleary visible both on the list of projects and on the page you buy there shares.
But allowing companys to raise IPOflag at any time without offering anyone thats already invested to sell there stocks as the condition they invested in has changed is totally unresonable that cryptostocks have started to allow that, especially on stocks that was started before the IPOflag excisted.
I wounder if cryptostocks like to compensate everyone that possibly might loose bitcoins because of that cryptostock made this change without even announcing it and added the possibillity for scamcompanys to lock shareholders in without any warning whatsoever.
Exactly! Being able to raise the IPO flag whenever and with no warning may be good for the "companies" that have shares on cryptostocks but it certainly isn't good for the investor's. I've tried to contact cryptostocks and getcoin365 but I haven't gotten any response from either of them. I guess i'm out my money on this one but cryptostocks will eventually lose all their investors if they continually let fake companies scam people and don't do anything about it.
Yea it's really terrible decision cryptostocks made, as it's now it's clearly misused by many companys/issuer as far as i see it and CS should compensate any investors that will get trapped in a potential scam because of it as they haven't announced the change and it's not fair to the investors as it's now.
They really need to setup rules for how IPO flags is allowed to be used, for example lets say 4 weeks/1 months warning in advance on coming IPOflags for company with none as verification level and maby just 2 weeks warning for company's that have advanced verification as you as a investor have at least some knowledge about who's behind those company then it would also put some incentive for serious company's to increase there verification level if they feel the need for using IPOflags and have max-lengths for how long a IPO flag can be set lets say max 1 week for company's with none as verification and 2-3 weeks for company's with advanced verification. That would put some reasonable balance between the "company's"/issuers and the investors and still allow those that feel the need to issue some more stocks get some breathing room even if the price they set isn't spot on what the market is allowed to pay for the.
This would give a maximum of 1 week IPO 4 week open trade, 1 week IPO 4 week open trade... for a company with none as verification And 2 week IPO 2 week open trade, 2 week IPO 2 week open trade...... for a a company with advanced verification witch i would say balance the interest of the issuer and investors good.
The initial IPO flag if company's want to set them immediately at the start of the listing can be slightly longer as people would know what to expect then but still have to be limited to some degree, having IPOflags for many months is not serious in any case so i would say a maximum of 2 weeks for company's with none as verification and 4 weeks for a company with advanced verification.
There should also be sent out an automatic announcement when a company sets IPO flag.
There should also be a clear indication on company's in the listing of all projects if they have IPOflag set and also clearly shown on the page where you but the company's stocks. As it's now with no indication a person new to CS may not know understand that there stocks will be locked in for an unknown amount of time if they buy into a company and they most likely don't know how to check whether or not a company with only 1 sell-order actually have or not have IPO flag(you can simply put in a sell-order for 100 stock even if you don't have any shares in the company in question) at 500 btc per share or some silly amount and you will get the message "IPO active, you can only place buy orders at the current ask price." but like i say a newbie on CS most likely have no clue to how to find that out.
