Post
Topic
Board Altcoin Discussion
Re: Tezos: A Self-Amending Crypto-Ledger
by
ElmetElmet
on 14/10/2017, 13:12:04 UTC
hitbtc is selling IOU ( The term "IOU" is an abbreviation, in phonetic terms, of "I owe you.") , real tezos ICO tokens are not distributed yet. Hitbtc has a price of usd $2 per IOU - that is aprx. 5x ICO price. When real tokens hit the market this price could be meaningless..or not Roll Eyes
its really exciting, but did hitbtc involved in the ico? how can it sell IOU if it has no real token when distributed

This is interesting. In theory you may buy IOU's and hold them, then after Tezos token release demand them from HitBTC. What if they don't hold any, or even not enough for everybody? People who trade them now must realize that there may be a massive dump as soon as Tezos announce the date the tokens will be available to withdraw.