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Leicester

๐Ÿ‘ค Speaker
1280 total appearances
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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.

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

So you can fully withdraw.

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

There's a limit.

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

It's like a couple of hundred million.

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

It's it's crazy.

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

You can fully withdraw.

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

Otherwise though, you can essentially fully deposit.

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

They don't have the limits on the deposit.

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

So you can deposit, you can withdraw, you can buy, sell trade.

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

It's 100% full availability, but it's only for United States traders.