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Topic
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Merits 1 from 1 user
Re: [ANN] Bittrex - Next generation exchange (btc/ltc/eac/ppc/rdd/ftc/and more)
by
cesmak
on 05/05/2019, 17:30:53 UTC
⭐ Merited by Raja_MBZ (1)
I think Donsky, that you are a bit confused, if the ieo ended and the coin/token was inserted in the free market, at that moment the exchange responsibility about (i repeat) free market conditions is no more a responsibility of the exchange himself. But only relay on marked conditions, so if price goes down 80% means that investor don't like the coin, but you can't accuse the exchange of being responsible (i repeat, if the ieo period ended...) the difference imho from an ico, is that all the first part of selling at fixed initial price is executed on the exchange instead of the company himself, but after the ico/ieo ended is the market who rules, so volatility is normal.

If the price was lowered when the coin offering was still in place, well, in this case is a responsibility of the exchange, but could also be that the company asked to lower the initial price, again how you are sure that is a fault of bittrex ?

I'm only a user of bittrex, no involved in company, i'm talking only from the perspective of logic, and i don't know anything about this coin, and his story, just to be clear.

I donot argue with you. You should know I am not alone, more 5 thousand people that bought ieo ocean of bittrex and loss 80% their money are very angry. Bittrex die soon.

Don't argue with me, ask a lawyer and you will receive the same answer... LOL.

https://cryptopotato.com/ieos-nightmare-ocean-protocol-lost-80-following-its-ieo-on-bittrex/

at the link a summary of what happened, that confirm me that no way to consider the exchange responsible... a free market is a FREE market, you can only blame at people who bought and sold at a loss...

but in the future if you didn't sell, can be that the price can recover, but if you bought for a quick gain, yes you are fucked....

And the TOS of bittrex :

https://bittrex.zendesk.com/hc/en-us/articles/360026912572-BITTREX-INTERNATIONAL-TERMS-OF-SALE-RELATING-TO-INITIAL-EXCHANGE-OFFERING-OF-OCEAN-TOKEN-BY-OCEAN-PROTOCOL-FOUNDATION-LTD

Quote
RISK DISCLOSURE: BY PARTICIPATING IN THE IEO AND PURCHASING OR HOLDING COINS YOU ARE VOLUNTARILY CHOOSING TO ENGAGE IN SOPHISTICATED AND RISKY FINANCIAL TRANSACTIONS. etc. etc.