Let me ask a silly question...
Our most favorite GAWite in the world, none other than Redacted, said this:
On the 29th - without GAW needing to do anything other than to bring up paybase and to start exchanging XPY for BTC at the $20 rate - the price will rise to $20 on all the exchanges within a couple of hours. Guaranteed.
Why does he think this is guaranteed?
If I make some pie-in-the-sky assumptions:
- GAW will allow unlimited transactions of XPY to BTC at a XPY->USD value of "$20"
- GAW will not interfere with any customers ability to move non-XPY coins out of Paybase
- GAW will not charge any transactions fees to convert from XPY to BTC
Why, on the day Paybase opens, wouldn't everyone pull all their coin off the exchanges and go to Paybase to cash in? The value of the exchange would be frozen with no sell orders to move the price.
Why would anyone want to sell coin on an exchange at less than GAW value if the assumptions are correct? Well, we know that all of those assumptions are outlandish when it comes to how Paybase will
really work. There will be limitations and speed bumps put into place to make it painful to do business with them.
Am I missing a market fundamental fact here?