they arent being taken, but they represent a smaller volume than they could if they were @ 0.001
+1 as far as I have understood.
TLDR: Bids of 0.001 and over will be pooled for share distribution at IPO price (0.001) and bids below IPO price will be cleared before trading start.
This is correct. Or stated slightly differently:
Everyone with higher bids are going to want to move your bids to .001, otherwise you are cheating yourselves out of a chance at more shares. Realistically all bids should be at exactly .001.
For example, if you bid 100,000 shares at .0011 you could move those bids to .001 with 0 risk and bid 110,000 shares for the same btc.
That's my understanding as well. Burnside, could you please confirm this we then could move all our orders to 0.001
Also correct.