Post
Topic
Board Announcements (Altcoins)
Re: [ANN][TRUST] TrustPlus [Development Stage] Produciton over
by
mitchellmint
on 20/07/2014, 15:34:02 UTC
Quote
7-12-14  Our coin has a Bot in BitTrex that locks the price at 250 Satoshi.  Every attempt to change it creates a bagholder.  Please do not try to change the price.  Just buy it at the lowest amount.  This bot has 10 BTC support.  The bot just buys back in.  Only buy the lowest block, it will automatically create a new low price block within seconds.  It is time consuming but, we dont want you to become a bag holder.

Bagholders are already created Mitch, remember the price was a 1000 sats and drop to 250. People bought those coins and are now bagholders.

No matter what you do now you can never avoid bagholders.

If you wanted to avoid anyone being a bagholder then this coin would of never hit an exchange OR you would of created an exchange just for trust-btc exchanges with a fix rate.

If I sell now I still end up with some profit but will have to dump the price sub 200 to achieve that.

Disable the bot and let the markets take their natural course, its too late to try and control the price.

We tried extremely hard to keep people around a 400 (the cost of production.)  This new BOT is just another attempt at distracting us from our work.  Our investors are important to us, and we had an IRC conversation last night.  BUYING our way out is not a solution.

The goal of this bot is to frustrate investors.  It is doing a good job.  I have to step up by getting the Services done.

can't the exchange disable the account of this bot?  They must be able to see what it is doing.  Have you asked the exchange if they can disable it~?

I have talked to every member of BitTrex... This is a very common suppression bot and BitTrex staff cannot pick and choose which bots are allowed and which are not.  I argued the case, BitTrex was trading TRUST at 150 BTC a day... now its at 1.5.  So they are losing 100 times the fees and business.  It was suggested to get a bot and pump the price.  After discussing it with a group of people that were about to buy the bot out, we decided to buy in small chunks and concentrate on innovations.  This keeps the bot at a loss and long term growth is possible again.

I am always open to new ideas on what to do with this Suppression.