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Leicester

๐Ÿ‘ค Speaker
729 total appearances
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Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

And it seemed like they had a really buddy, buddy relationship, right?

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Coin store got some liquidity.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

and started launching market maker transactions.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

When the block tag team was starting to roll out a lot of these different things for the exchanges, they chose, they cherry picked who they were going to provide liquidity to based on who would follow it the way they want it.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Because what they wanted to do was they wanted to force a 5 cent price.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Remember they told you that we're launching at 5 cents.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

They told you that we're guaranteeing we're launching at 5 cents.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

They said it at least 20 times.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

We are launching at 5 cents.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

They were going to do that by way of market maker.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

I explained market maker market maker is automated bots, creating artificial orders.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

The second part of this then is the block bag team blocked the ability to do any deposits of your pre-sale coins, which means you had to trade on the exchanges themselves.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

They would use the market maker to basically sustain the price.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Understand that they're still working on blockchain related stuff under the hood, but they rushed out getting on the exchanges.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Now, Pionex, I'm talking the international one, was one of these that launched and initially had some market maker pumps and then died off.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

The United States side, which is WeBot now, used to be Pionex.us, but WeBot now, initially opened up deposits for a couple of hours.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

A bunch of people tossed millions of BDAG in there.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

WeBot closed it down, but it was already too late.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

Now there's roughly, I'm going to estimate about 50 million BDAG floating around.

Crypto Talk Radio: Basic Cryptonomics
Leicester On #BlockDAG Trying To Remove Fair Market Pricing (OOC)

And we bought right now, we bought later opened up deposits, full scope.