Taking into account the last transactions, so-far around 80k coins have been bought through Instabuy, 27k of them on the Saturday-Sunday night. This was the situation that caused the dump. Theres no such possibility any moreCan you explain how instabuys cause dumps?
Shouldn't it be causing buying pressure?
From:
https://medium.com/minecoin-blog/announcement-launch-of-instabuy-refferal-and-cashback-programs-29c398741ff1Instabuy users just have to send their BTC (or BCH) to the designated address and receive the associated MNX (The supply of MNX will come from Minexcoins own funds). Once the transaction is verified and validated, the same amount of MNX will be bought from exchanges and taken out of the market. We endure the hassle, you experience the pleasure!If 80K was bought via instabuy and those 80K were meant to come out of your own funds and then you are meant to go on the exchange to go buy
those 80K back, does that mean that you intentionally crashed the price so you can buy cheaper?
Can someone explain this to me cause am afraid am a bit thick....
Thanks.
not need to be to much smart to expect price dump due to a lot 90 days parking end in middle September. Now they have money and wait to price stop drop. If price reach 1$ we should expect MNX to that coins use to clean all orders on exchanges. Yes, it is manipulation, but current market situation ask smart move