I've been buying these swifts lately myself, but I got a noob question. I see that one person has obtained almost 2.5 million bitswift on October 8th at 8:55, which is 60% of all the coins. correct me if im wrong, but this doesn't seem like much of a fair distribution. if this person dumps, then price plummets right?
I'm not trying to bash SWIFT at all. just a question.
thanks
No problem, everybody starts as a noob. You've seen right but your conclusion is wrong. The ICO of BitSwift was a 4.000.000 swift sell at exactly 8000 sat. This is what creates this somehow "strange" chart at the start. Your 2.5 million is just 2.5 million in a particular timeframe, not one order. The BitSwift ICO was the fastest ever on bittrex, that's another explanation for the impressive 6h chart.
You can check the richlist if you want to know how many coins are in which wallets.
yeah this coin is 100% POS ICO, the whole coin supply was sold during ICO which gives the FAIREST distribution i could think of, there was NO POSSIBLE WAY TO GET SWIFT UNDER 8k which means if someone wanted to control supply they would have to throw ALOT of btc at it...
so atleast in my eyes this is one of the SAFEST coins, theres no one person or group with a majority of the supply to do massive dumps on everyone, just wont happen...